U. S. Securities and Exchange Commission
                     Washington, D. C.  20549

                           FORM 10-KSB

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

     For the calendar year ended December 31, 2000
                                 -----------------

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

     For the transition period from _________________ to __________________

                 Commission File No.  033-20344-LA
                                      ------------

                         Global Acquisition, Inc.
                         -----------------------
          (Name of Small Business Issuer in its Charter)

         COLORADO                                            84-1077242
-------------------------------                   --------------------------
(State or Other Jurisdiction of                   (I.R.S. Employer I.D. No.)
 incorporation or organization)

                           3046 E. Brighton Place
                         Salt Lake City, Utah 84121
                         --------------------------
                   (Address of Principal Executive Offices)

                  Issuer's Telephone Number:  (801) 201-7635

                            THIN FILM BATTERY, INC.
                             14251 Chambers Road
                          Tustin, California 92780
                          ------------------------
      (Former name and former address, if changed since last Report)

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

Securities Registered under Section 12(g) of the Exchange Act:  None.

     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.

     (1)   Yes X     No            (2)   Yes X     No

     Check if there is no disclosure of delinquent filers in response 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.  [ ]

     State Issuer's revenues for its most recent calendar year:  December 31,
2000, $0.

     For the Exhibit Index, see Part III, Item 13.

     State the aggregate market value of the common voting stock held by non-
affiliates computed by reference to the price at which the stock was sold, or
the average bid and asked prices of such stock, as of a specified date within
the past 60 days.

     May 3, 2001 - $1,461,768.  There are approximately 899,550 shares of
common voting stock of the Registrant held by non-affiliates.  During the past
five years, there has been no "established trading market" for shares of
common stock of the Registrant, so the Registrant has arbitrarily valued these
shares on the basis of the present low bid price for these shares on the OTC
Bulletin Board of the NASD.

                (ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                       DURING THE PAST FIVE YEARS)

     The Registrant filed bankruptcy proceedings on April 23, 1997, which were
dismissed on December 23, 1999, by a No Asset Report of the Trustee.  No other
material action was taken during the pendency of these proceedings.  See Part
I, Item 3.

                (APPLICABLE ONLY TO CORPORATE REGISTRANTS)

     State the number of outstanding shares of each of the Registrant's
classes of common equity, as of the latest practicable date:

                           May 3, 2001

                       Common - 5,831,503*

     *This computation takes into account a court ordered cancellation of
46,020,006 shares that were issued pursuant to an Acquisition Agreement and
Plan of Reorganization between the Registrant and Thin Film Battery, Inc., a
Nevada corporation ("Thin Film Battery"), that was rescinded on February 14,
2001.  See the Registrant's 8-K, 8-KA-1 and 8-KA-2 Current Reports dated April
7, 2000, which have been previously filed with the Securities and Exchange
Commission and which are incorporated herein by reference, Part III, Item 13.

                   DOCUMENTS INCORPORATED BY REFERENCE
                   -----------------------------------

     See Part III, Item 13.

   Transitional Small Business Issuer Format   Yes  X   No ___

                              PART I

Item 1.  Description of Business.
         ------------------------

Business Development.
---------------------

     December 31, 2000, to present.
     ------------------------------

     On March 2, 2000, Global Acquisition, Inc. (the "Company" or "Global
Acquisition") effected a 100 for one reverse split of its outstanding common
stock, while retaining its authorized capital and shares, and with appropriate
adjustments to its capital accounts.

     A three for one forward split of its outstanding common stock was also
effected on April 14, 2000, while also retaining its authorized capital and
shares, and with appropriate adjustments to its capital accounts.

     All computations in this Report and the accompanying financial statements
take these re-capitalizations into account.

     Mark Meriwether, our current sole director and executive officer,
acquired approximately 137,865 shares of the Company's outstanding voting
securities that represented approximately 75% of our outstanding common stock
on or about January 6, 2000.  See the Company's 8-K Current Report dated
January 6, 2000, which has been previously filed with the Securities and
Exchange Commission and which is incorporated herein by reference, Part III,
Item 13.

     The Company acquired all of the outstanding securities of Thin Film
Battery on April 7, 2000, in exchange for shares of "restricted securities"
(common stock)of the Company, and Thin Film Battery became the Company's
wholly-owned subsidiary.  On February 14, 2001, this acquisition was
rescinded.  See the Company's 8-K, 8-KA-1 and 8-KA-2 Current Reports dated
April 7, 2000, which have been previously filed with the Securities and
Exchange Commission and which are incorporated herein by reference, Part III,
Item 13.

     On April 17, 2001, the Company filed a Certificate of Amendment to its
Certificate of Incorporation changing the name of the Company to "Global
Acquisition, Inc."

     Inception through December 31, 1999.
     ------------------------------------

     Historical information from inception regarding the Company is contained
under the heading "Business Development", Part I, Item 1, of the Company's
10-KSB Annual Report for the year ended December 31, 1999, which has been
previously filed with the Securities and Exchange Commission and which is
incorporated herein by reference, Part III, Item 13.

Business.
---------

     The Company has had no material business operations since 1989.  The
Company may begin the search for the acquisition of assets, property or
business that may benefit the Company and its stockholders once the Board of
Directors sets guidelines of industries in which the Company may have an
interest; or the Company may seek funding to commence selected business
operations.

     The Company is unable to predict the time as to when and if it may
actually participate in any specific business endeavor, and will be unable
to do so until it determines the particular industries of interest to the
Company, at which time it will adopt a business plan.

Effect of Existing or Probable Governmental Regulations on
Business.
---------

     The integrated disclosure system for small business issuers adopted by
the Securities and Exchange Commission in Release No. 34-30968 and effective
as of August 13, 1992, substantially modified the information and financial
requirements of a "Small Business Issuer," defined to be an issuer that has
revenues of less than $25 million; is a U.S. or Canadian issuer; is not an
investment company; and if a majority-owned subsidiary, the parent is also a
small business issuer; provided, however, an entity is not a small business
issuer if it has a public float (the aggregate market value of the issuer's
outstanding securities held by non-affiliates) of $25 million or more.  The
Company is deemed to be a "small business issuer."

     The Securities and Exchange Commission, state securities commissions
and the North American Securities Administrators Association, Inc. ("NASAA")
have expressed an interest in adopting policies that will streamline the
registration process and make it easier for a small business issuer to have
access to the public capital markets.

     Our common stock is "penny stock" as defined in Rule 3a51-1 of the
Securities and Exchange Commission.  Penny stocks are stocks:

          with a price of less than five dollars per share;

          that are not traded on a "recognized" national exchange;

          whose prices are not quoted on the NASDAQ automated quotation
          system; or

          in issuers with net tangible assets less than $2,000,000, if the
          issuer has been in continuous operation for at least three
          years, or $5,000,000, if in continuous operation for less than
          three years, or with average revenues of less than $6,000,000 for
          the last three years.

     Section 15(g) of the Exchange Act and Rule 15g-2 of the Securities
and Exchange Commission require broker/dealers dealing in penny stocks to
provide potential investors with a document disclosing the risks of penny
stocks and to obtain a manually signed and dated written receipt of the
document before making any transaction in a penny stock for the investor's
account.  You are urged to obtain and read this disclosure carefully before
purchasing any of our shares.

     Rule 15g-9 of the Securities and Exchange Commission requires
broker/dealers in penny stocks to approve the account of any investor for
transactions in these stocks before selling any penny stock to that investor.
This procedure requires the broker/dealer to:

          get information about the investor's financial situation,
          investment experience and investment goals;

          reasonably determine, based on that information, that transactions
          in penny stocks are suitable for the investor and that the
          investor can evaluate the risks of penny stock transactions;

          provide the investor with a written statement setting forth the
          basis on which the broker/dealer made his or her determination;
          and

          receive a signed and dated copy of the statement from the
          investor, confirming that it accurately reflects the investor's
          financial situation, investment experience
          and investment goals.

     Compliance with these requirements may make it harder for our
stockholders to resell their shares.

Item 2.  Description of Property.
---------------------------------

     The Company has no facilities or leased offices; presently, the principal
executive offices and telephone number of the Company are those of its
President, Mark Meriwether, which are provided at no cost.

Item 3.  Legal Proceedings.
---------------------------

     The Company is not the subject of any pending legal proceedings;
and to the knowledge of management, no proceedings are presently contemplated
against the Company by any federal, state or local governmental agency.

     Further, to the knowledge of management, no director or executive
officer is party to any action in which any has an interest adverse to the
Company.

     The Company filed bankruptcy proceedings in the United States District
Court, Central District of California, Los Angeles Division, styled as
Bankruptcy No. SV-97-14756KL on April 23, 1997; on the filing of a No Asset
Report by the Trustee on December 23, 1999, the bankruptcy petition was
dismissed, without any formal proceedings having been conducted.

     Mark Meriwether, the President and sole director of the Company, filed
legal action against Thin Film Battery and all of the former stockholders of
Thin Film Battery seeking rescission of the acquisition of Thin Film Battery
in the Third Judicial District Court of Salt Lake County, Utah, in Civil
Action No. 010901926.  A Recission Agreement had been previously been executed
and delivered to the Company by Thin Film Battery, and this acquisition was
rescinded by an order of the court entered on stipulation of the parties.  See
the Company's 8-K, 8-KA-1 and 8-KA-2 Current Reports dated April 7, 2000, Part
III, Item 13.

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

     No matter was submitted to a vote of the Company's security
holders during the fourth quarter of the year ended December 31, 2000.

     A 100 for one reverse split of the Company's outstanding common stock was
effected on March 2, 2000, by written consent of Mark Meriwether, the
Company's President and sole director, who owned in excess of a majority of
the outstanding voting securities (75%) of the Company.

     A three for one forward split of the Company's outstanding common stock
was also effected on April 14, 2000, by written consent of Mr. Meriwether.

                              PART II

Item 5.  Market for Common Equity and Related Stockholder Matters.
------------------------------------------------------------------

Market Information.
-------------------

     There has never been any "established trading market" for shares of
common stock of the Company.  The common stock of the Company is presently
quoted on the OTC Bulletin Board of the NASD under the symbol "GACI" as
reflected below.  No assurance can be given that any market for the Company's
common stock will develop in the future or be maintained.  If an "established
trading market" ever develops in the future, the sale of "restricted
securities" (common stock) pursuant to Rule 144 of the Securities and Exchange
Commission by members of management or others may have a substantial adverse
impact on any such market.

     The range of high and low bid quotations for the Company's common stock
during the each quarter of the year ended December 31, 1999 and each quarter
of the year ended December 31, 2000, is shown below.  Prices are inter-dealer
quotations as reported by the NQB, LLC, and do not necessarily reflect
transactions, retail markups, mark downs or commissions.

<TABLE>
<CAPTION>
                             STOCK QUOTATIONS

                                                  BID

Quarter ended:                          High                Low
--------------                          ----                ---

<S>                                     <C>                 <C>
March 31, 1999                          .005                .005

June 30, 1999                           .02                 .005

September 30, 1999                      .021                .01

December 31, 1999                       .0125               .01

March 22, 2000                          .075                .01

March 22, 2000 through
March 31, 2000 (1 for 100 rev split)   2.00                2.00

April 20, 2000                         6.00                2.00

April 24, 2000 through
June 30, 2000 (3 for 1 for split)      7.00                1.00

September 30, 2000                     5.00                3.00

December 31, 2000                      3.125                .3125

</TABLE>

Recent Sales of Restricted Securities.
--------------------------------------

     The following "restricted securities" have been sold by the Company
during the past three years:

Common Stock Issued for       Number of Shares Sold         Consideration
-----------------------       ---------------------         -------------

Services-2000                        495,000                   $31,470

Expenses-2000                        339,365                   $23,730

Settlement of Debt-2000            4,740,796                  $174,490

Retirement of Preferred stock-2000    38,851                   $33,195

Holders.
--------

     The number of record holders of the Company's common stock as of May 3,
2001, was approximately 417; this number does not include an indeterminate
number of stockholders whose shares are held by brokers in street name.

Dividends.
----------

     There are no present material restrictions that limit the ability
of the Company to pay dividends on common stock or that are likely to do so in
the future.  The Company has not paid any dividends with respect to its common
stock, and does not intend to pay dividends in the foreseeable future.

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

Plan of Operation.
------------------

     The last revenues produced by the Company were during the year ended
December 31, 1995, from the sale of specialty food products by its then
wholly-owned subsidiary, All Pure Foods, Inc., a Nevada corporation ("All Pure
Foods").  These operations ceased in 1995, and this subsidiary was abandoned.

     The Company recommenced its developmental stage in calendar 1996.

     The Company may begin the search for the acquisition of assets, property
or business that may benefit the Company and its stockholders once the Board
of Directors sets guidelines of industries in which the Company may have an
interest; or the Company may seek funding to commence selected business
operations.

     The Company is unable to predict the time as to when and if it may
actually participate in any specific business endeavor, and will be unable
to do so until it determines the particular industries of interest to the
Company, at which time it will adopt a business plan.

Results of Operations.
----------------------

     The Company had no revenues or operations during fiscal 2000 or 1999,
with accrued expenses for interest of $31,347 and $26,123, respectively, and
$115,130 in 2000 for Administrative expenses resulting in losses of ($141,253)
and ($31,347) in these years.

     The Company had no cash assets, with current liabilities of $46,680 for
the year ended December 31, 2000.

     A principal stockholder of the Company contributed $15,000 for expenses
during fiscal 2000.

Liquidity.
----------

     The Company had no cash or liquid resources during fiscal year 2000 or
1999, and expenses were paid by an advance of $15,000 by a principal
stockholder during fiscal 2000.

Item 7.  Financial Statements.
-----------------------------

For the years ended December 31, 2000 and 1999.

     Independent Auditors' Report

     Balance Sheet

     Statements of Operations

     Statement of Changes in Stockholders' Equity

     Statements of Cash Flows

     Notes to the Financial Statements
<PAGE>
ANDERSEN ANDERSEN & STRONG, L.C.
Certified Public Accountants and Business Consultants
941 East 3300 South, Suite 202
Salt Lake City, Utah 84106
Member SEC Practice Section of the AICPA
Telephone 801 486-0096
Fax 801 486-0098

Board of Directors
Global Acquisitions, Inc.
Salt Lake City, Utah

        REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

We have audited the accompanying balance  sheet of Global Acquisitions, Inc.
(development stage company) at  December 31, 2000 and the related statement of
operations, stockholders' equity, and cash flows for the  years ended December
31, 2000 and 1999 and the period from January 1, 1996 (date of inception of
development stage)  to December 31, 2000.  These financial statements are the
responsibility of the Company's management. Our responsibility is to express
an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.  An audit
also includes assessing the accounting principles used and  significant
estimates made by management as well as evaluating the overall balance sheet
presentation. We believe that our audits provide a reasonable basis for our
opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of    Global Acquisitions, Inc.
at  December 31, 2000,  and the results of  operations, and  cash flows for
the  years ended December 31, 2000 and 1999 and the period from January 1,
1996  (date of inception of development stage) to December 31, 2000, in
conformity with generally accepted accounting principles.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  The Company  will need additional
working capital to service its debt and for its planned activity, which raises
substantial doubt about its ability to continue as a going concern.
Management's plans in regard to these matters are described in  Note 5. These
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.


May 4, 2001                                 s/Andersen Andersen and Strong
Salt Lake City, Utah
<PAGE>
<TABLE>
                   GLOBAL ACQUISITIONS, INC.
                           BALANCE SHEET
                         December 31, 2000
<CAPTION>


ASSETS
<S>                                                            <C>
CURRENT ASSETS

 Cash                                                           $     -

         Total Current Assets                                   $     -

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

    Accounts payable - related party                            $ 38,450
 Accounts payable                                                  8,230

     Total Current Liabilities                                    46,680

STOCKHOLDERS' EQUITY

    Preferred stock
      10,000,000 shares authorized at $0.10 par value;
      non issued and outstanding                                      -
 Common stock
       100,000,000 shares authorized at $.001 par value;
       5,831,503 issued and outstanding                            5,831
 Capital in excess of par value                                5,716,058
    Accumulated deficit - Note 1                              (5,768,569)

   Total Stockholders' Deficiency                                (46,680)

                                                             $        -
</TABLE>
 The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
                    GLOBAL ACQUISITIONS, INC.
                    STATEMENTS OF OPERATIONS
      For the Years Ended December 31, 2000 and 1999 and the Period
 January 1, 1996 (date of inception of development stage) to December 31, 2000
<CAPTION>
                                                               Period
                                    Dec 31,       Dec 31,    Jan 1, 1996
                                     2000          1999     to Dec 31, 2000
<S>                               <C>             <C>         <C>
REVENUES                           $         -     $        -  $        -


EXPENSES

   Administrative                      115,130              -     115,130
   Interest expense                     26,123         31,347     340,159

NET LOSS - before other income and
expense                               (141,253)       (31,347)   (455,289)

OTHER INCOME AND EXPENSE

   Loss of assets                            -              -  (4,608,767)
   Settlement of debt                1,615,082              -   1,615,082

NET PROFIT (LOSS)                  $ 1,473,829      $ (31,347)$(3,448,974)

NET PROFIT (LOSS) PER COMMON
 SHARE

    Basic                                $ .38        $  (.14)

AVERAGE OUTSTANDING
   SHARES

        Basic                        3,866,491        217,491
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
                    GLOBAL ACQUISITIONS, INC.
                STATEMENT OF CHANGES  IN STOCKHOLDERS' EQUITY
       Period January 1, 1996 (date of inception of development stage) to
                        December 31, 2000
<CAPTION>
______________________________________________________________________________
                    Preferred Stock   Common Stock    Excess of   Accumulated
                    Shares   Amount  Shares   Amount  Par Value     Deficit
<S>                 <C>       <C>     <C>      <C>      <C>       <C>
Balance
January 1, 1996     331,950  $ 33,195 202,542  $  202 $5,422,869  $(2,319,595)

Issuance of
common stock
for services at
$4.20-1996              -         -    14,949      15     20,918           -

Net operating
loss for the year
ended December 31,
1996                    -         -       -       -          -
(4,748,837)

Net operating loss
for the year ended
December 31, 1997       -         -       -       -          -       (111,272)

Net operating loss
for the year ended
December 31, 1998       -         -       -       -          -        (31,347)

Net operating loss
for the year ended
December 31, 1999       -         -       -       -          -        (31,347)

Balance
December 31, 1999     331,950 $33,195 217,491  $  217 $5,443,787  $(7,242,398)

Issuance of common
stock for services
at $.063                  -       -   495,000     495     30,975            -

Issuance of common
stock for expenses
at $.07                   -       -   339,365     339     23,391            -

Issuance of common
stock for settlement
of debt at $.037          -       - 4,740,796   4,741    169,749            -

Issuance of common
stock for retirement
of preferred stock   (331,950)(33,195) 38,851      39     33,156            -

Contributions to
capital - expenses        -       -       -       -       15,000            -

Net operating profit
for the year ended
December 31, 2000         -       -       -       -          -      1,473,829

Balance
December 31, 2000         -  $    - 5,831,503 $ 5,831$ 5,716,058  $(5,768,569)
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
                     GLOBAL ACQUISITIONS,  INC.
                     STATEMENTS OF CASH FLOWS
For the  Years Ended December 31, 2000  and 1999 and the period
January 1, 1996 (date of inception of development stage) to December 31, 2000
<CAPTION>
                                                               Period
                                    Dec 31,       Dec 31,    Jan 1, 1996
                                     2000          1999     to Dec 31, 2000
<S>                               <C>             <C>         <C>
CASH FLOWS FROM
 OPERATING ACTIVITIES


 Net profit (loss)                 $ 1,473,829     $ (31,347)     (3,448,974)

 Adjustments to reconcile net loss to
  net cash provided by operating
  activities

    Change in accounts payable          71,053        31,347         362,481
    Issuance of common stock for
     expenses And contribution
     to capital for expenses            70,200           -            91,133
    Loss of assets                           -           -         4,608,767
    Gain on settlement of debt      (1,615,082)          -        (1,615,082)

          Net Cash From (Used)
          in Operations                      -           -                 -

CASH FLOWS FROM INVESTING
 ACTIVITIES                                  -           -                 -

CASH FLOWS FROM FINANCING
 ACTIVITIES                                  -           -                 -

 Net Increase (Decrease) in Cash             -           -                 -

 Cash at Beginning of Period                 -           -                 -

 Cash at End of Period                $      -     $     -         $       -


NON CASH FLOWS FROM OPERATING ACTIVITIES

Issuance of  14,949 shares common stock for services - 1996     $  20,933
Issuance of  834,365 shares common stock for services and
expenses - 2000                                                    55,200
Contribution to capital - expenses                                 15,000
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
                   GLOBAL ACQUISITIONS,  INC.
                  NOTES TO FINANCIAL STATEMENTS

1. ORGANIZATION

The Company was incorporated on August 15, 1986 under the laws of the state of
Colorado, with the name "Vates Corp." with authorized common stock of
100,00,000 shares with no par value and  authorized preferred stock of
10,000,000 shares with a par value of $0.10.  On June 6, 1991, the name was
changed to "O.T.S. , Holdings , Inc." and on April 17, 2001  the name was
changed to "Global Acquisitions, Inc."       On March 6, 2000 the   authorized
common stock was changed to a par value of $.001

Since inception, the Company has completed several  acquisitions  in
connection with three reverse stock splits resulting in its present
capitalization.

This report has been prepared showing the name change and the  after stock
split shares with a par value of $.001  from  inception.

After 1995 the Company  became  inactive and is considered to be in the
development stage after that date.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Methods

The Company recognizes income and expenses based on the accrual method of
accounting.

Dividend Policy

The Company has not yet adopted a policy regarding payment of dividends.

Income Taxes

On December 31, 2000, the Company had  accumulated net operating losses  of
$5,716,058 however  the loss will not be available for carryover since there
are no assets and there has been a substantial change in its stockholders.

Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in
accordance with generally accepted accounting principles.  Those estimates and
assumptions affect the reported amounts of the assets and liabilities, the
disclosure of contingent assets and liabilities, and the reported revenues and
expenses.  Actual results could vary from the estimates that were assumed in
preparing the financial statements.

Financial Instruments

The carrying amounts of financial instruments, including  the accounts
payable, are considered by management to be their estimated fair values.
<PAGE>

                    GLOBAL ACQUISITIONS,  INC.
            NOTES TO FINANCIAL STATEMENTS - continued

Basic and Diluted Net Income (Loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted
average number of shares actually outstanding, after the  stock splits.
Diluted net income (loss) per share amounts are computed using the weighted
average number of common shares and common equivalent shares outstanding as if
shares had been issued on the exercise of the preferred share rights.

Comprehensive Income

The Company adopted Statement of Financial Accounting Standards No. 130. The
adoption of this standard had no impact on the total stockholder's equity.

Other Recent Accounting Pronouncements

The Company does not expect that the adoption of other recent accounting
pronouncements will have a material impact on its financial statements.

3.  RELATED PARTY TRANSACTIONS

Securities on hand on December 31, 1999  consisted of 8,660,000  shares of
CEC. and  during January 2000, the stock was traded to a related party for the
assumption of debt.

Related  parties will have  acquired 85% of the common stock issued by the
Company after the events shown in note 6.

4.  BANKRUPTCY

On   April 23, 1997  the Company entered a petition in bankruptcy to clear its
debt, however, on  December 23, 1999,  the court terminated the petition with
no action because of a no asset report by the trustee.

5.  GOING CONCERN

The Company intends to acquire  interests in various business opportunities
which, in the opinion of management, will provide a profit to the Company,
however there is insufficient working capital for any future planned activity.

Continuation of the Company  as a going concern is dependent upon obtaining
additional working capital and the management of the Company has developed a
strategy, which it believes will accomplish this objective through additional
equity funding and long term debt which will enable the Company to conduct
operations for the coming year.
<PAGE>

                    GLOBAL ACQUISITIONS,  INC.
            NOTES TO FINANCIAL STATEMENTS - continued



6.   RECISSION OF ACQUISITION OF  SUBSIDIARY

On February 18, 2000, the Company acquired all of the outstanding stock of
"Thin Battery, Inc"., a Nevada corporation through a stock for stock
agreement.

On February 14, 2001 the acquisition of Thin Film Battery, Inc. (subsidiary)
was mutually rescinded and the stock issued in connection with the acquisition
was returned to the Company and canceled.

This report has been prepared   showing the rescission of  the acquisition
retroactively.
<PAGE>

Item 8.  Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.
--------------------

     On October 27, 2000, the Company engaged Corbin & Wertz, Certified Public
Accountants, to be its auditors, replacing Andersen, Andersen & Strong.  See
the Company's 8-K Current Report dated October 27, 2000, which has been
previously filed with the Securities and Exchange Commission and is
incorporated herein by reference, Part III, Item 13.

     Andersen, Andersen & Strong was reinstated as the Company's Certified
Public Accountants replacing Corbin & Wertz on November 6, 2000. See the
Company's 8-K Current Report dated November 6, 2000, which has been previously
filed with the Securities and Exchange Commission and is incorporated herein
by reference, Part III, Item 13.

     There were no disagreements between these accountants and the Company.
The change in accountants was in connection with the Thin Film Battery
acquisition and rescission.

                             PART III

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

Identification of Directors and Executive Officers.
---------------------------------------------------

     The following table sets forth, in alphabetical order, the names
and the nature of all positions and offices held by all directors and
executive officers of the Company for the calendar year ended December 31,
2000, and to the date of this Report, and the period or periods during which
each such director or executive officer has served in his respective
positions.

                                           Date of           Date of
                     Positions            Election or       Termination
   Name                 Held              Designation        or Resignation
   ----              -----------          -----------       --------------

John B. Bates         President             4/17/00             2/14/01
                      Director              4/17/00             2/14/01

Robert G. Pasquaye    Secretary             4/17/00             2/14/01
                      Treasurer             4/17/00             2/14/01
                      Director              4/17/00             2/14/01

Mark Meriwether       President             2/14/01                *
                      Director              2/14/01                *
                      Secretary             2/14/01                *

          *  This person presently serves in the capacities indicated opposite
his name, and served in these capacities from January 6, 2000, until April 17,
2000.

Term of Office.
---------------

     The term of office of the current directors shall continue until
the annual meeting of stockholders, which is scheduled in accordance with the
direction of the Board of Directors.  The annual meeting of the Board of
Directors immediately follows the annual meeting of stockholders, at which
officers for the coming year are elected.

Business Experience.
--------------------

     Mark Meriwether.  Mr. Meriwether is 44 years of age, and for the past
eighteen years, his principal occupation has involved providing services to
public and private companies in the areas of corporate restructuring and
reorganizations, mergers and funding as an independent contractor.

Involvement in Certain Legal Proceedings.
-----------------------------------------

     To the knowledge of management, no present or former director, person
nominated to become a director, executive officer, promoter or control person
of the Company:

          (1)  Was a general partner or executive officer of any business
               by or against which any bankruptcy petition was filed,
               whether at the time of such filing or two years prior
               thereto;

          (2)  Was convicted in a criminal proceeding or named the subject
               of a pending criminal proceeding (excluding traffic
               violations and other minor offenses);

          (3)  Was the subject of any order, judgment or decree, not
               subsequently reversed, suspended or vacated, of any court of
               competent jurisdiction, permanently or temporarily enjoining
               him from or otherwise limiting, the following activities:

               (i)  Acting as a futures commission merchant, introducing
                    broker, commodity trading advisor, commodity pool
                    operator, floor broker, leverage transaction merchant,
                    associated person of any of the foregoing, or as an
                    investment adviser, underwriter, broker or dealer in
                    securities, or as an affiliated person, director or
                    employee of any investment company, bank, savings and
                    loan association or insurance company, or engaging in
                    or continuing any conduct or practice in connection
                    with such activity;

                  (ii)   Engaging in any type of business practice; or

                 (iii)   Engaging in any activity in connection with the
                         purchase or sale of any security or commodity or
                         in connection with any violation of federal or
                         state securities laws or federal commodities
                         laws;

          (4)  Was the subject of any order, judgment or decree, not
               subsequently reversed, suspended or vacated, of any federal
               or state authority barring, suspending or otherwise limiting
               for more than 60 days the right of such person to engage in
               any activity described above under this Item, or to be
               associated with persons engaged in any such activity;

          (5)  Was found by a court of competent jurisdiction in a civil
               action or by the Securities and Exchange Commission to have
               violated any federal or state securities law, and the
               judgment in such civil action or finding by the Securities
               and Exchange Commission has not been subsequently reversed,
               suspended, or vacated; or

          (6)  Was found by a court of competent jurisdiction in a civil
               action or by the Commodity Futures Trading Commission to
               have violated any federal commodities law, and the judgment
               in such civil action or finding by the Commodity Futures
               Trading Commission has not been subsequently reversed,
               suspended or vacated.

Compliance with Section 16(a) of the Exchange Act.
--------------------------------------------------

     No securities of the Company are registered pursuant to Section
12(g) of the Securities Exchange Act of 1934, as amended, and the Company
files reports under Section 15(d) of this Act; accordingly, directors,
executive officers and 10% stockholders are not required to make filings under
Section 16 of the Securities Exchange Act of 1934.

Item 10. Executive Compensation.
--------------------------------

Cash Compensation.
------------------

     The following table sets forth the aggregate executive compensation paid
by the Company for services rendered during the periods indicated:

                        SUMMARY COMPENSATION TABLE

                                             Long Term Compensation
          Annual Compensation             Awards     Payouts
  (a)           (b)      (c)    (d)   (e)     (f)          (g)    (h)    (i)

Name and     Years or              Other                               All
principal    periods               Annual   Restricted Option/  LTIP   Other
position     Ended       $     $   Compen-  Stock      SAR's   Payouts Compen-
                      Salary Bonus sation   Awards$    #       $       sation
------------------------------------------------------------------------------
Mark         12/31/99    0     0     0         0           0      0       0
Meriwether   12/31/00    0     0     0         0           0      0       0
President
Sec'y/
Treasurer
Director

Gerald       12/31/99    0     0     0         0           0      0       0
Levine       12/31/00    0     0     0         0           0      0       0
President
and Director

Marie Levine 12/31/99    0     0     0         0           0      0       0
Sec'y/       12/31/00    0     0     0         0           0      0       0
Treasurer

John B.      12/31/00    0     0     0         0           0      0       0
Bates
President
and Director

Robert G.    12/31/00    0     0     0         0           0      0       0
Pasquaye
Sec'y/
Treasurer
Director

     No cash compensation, deferred compensation or long-term incentive
plan awards were issued or granted to the Company's management during the
years ended December 31, 2000, or 1999, or the period ending on the date of
this Report.  Further, no member of the Company's management has been
granted any option or stock appreciation right; accordingly, no tables
relating to such items have been included within this Item.

Compensation of Directors.
--------------------------

     There are no standard arrangements pursuant to which the Company's
directors are compensated for any services provided as director.  No
additional amounts are payable to the Company's directors for committee
participation or special assignments.

     There are no arrangements pursuant to which any of the Company's
directors was compensated during the Company's last completed calendar year or
the previous two calendar years for any service provided as director.  See the
Summary Compensation Table of this Item.

Termination of Employment and Change of Control Arrangement.
------------------------------------------------------------

     There are no compensatory plans or arrangements, including payments to be
received from the Company, with respect to any person named in the Summary
Compensation Table set out above which would in any way result in payments to
any such person because of his or her resignation, retirement or other
termination of such person's employment with the Company or its subsidiaries,
or any change in control of the Company, or a change in the person's
responsibilities following a change in control of the Company.

Item 11. Security Ownership of Certain Beneficial Owners and Management.
-----------------------------------------------------------------------

Security Ownership of Certain Beneficial Owners.
------------------------------------------------

     The following table sets forth the share holdings of those persons
who own more than 5% of the Company's common stock as of December 31, 2000,
and to the date hereof:

                                            Number and Percentage
                                         of Shares Beneficially Owned
                                         ----------------------------

Name and Address                    12/31/00(1)         Currently(2)
----------------                    -----------         ------------

Omni International Ltd.          21,000,000 - 40.5%      ---0---
8/F Chiap Lee Comm Bldg 27
Ashley Road
Tsimshatsui, Kowloon
Hong Kong

Price Equity Ltd.                15,000,000 - 28.9%      ---0---
1108 Albion Plaza 1-6
Granville Road
Tsimshatsui, Kowloon
Hong Kong

Smart Concept Technology          9,000,000 - 17.4%      ---0---
Unit 618 6/F Peninsula Centre
67 Mody Road
Tsimshatsui, Kowloon
Hong Kong

Mark Meriwether                     649,130 -  1.3%     4,931,953 - 84.6%
3046 East Brighton Place
Salt Lake City, Utah 84121

     (1)  Percentages are based on 51,851,509 shares of common stock
outstanding, prior to the rescission of the Thin Film Battery acquisition.

      (2)   Percentages are based on 5,831,503 shares of common stock
outstanding, after the rescission of the Thin Film Battery acquisition.

Security Ownership of Management.
---------------------------------

     The following table sets forth the share holdings of the Company's
directors and executive officers as of December 31, 2000, and to the
date hereof:

                                             Number and Percentage
                                          of Shares Beneficially Owned
                                          ----------------------------

Name and Address                    12/31/00(1)            Currently(2)
----------------                    -----------            ------------

Mark Meriwether                     649,130 - 1.3%      4,931,953 - 84.6%
3046 East Brighton Place
Salt Lake City, Utah 84121

John B. Bates                      1,000,002 - 1.9%          ---0---
1624 Kinsmon Lane
Marietta, GA 30062

Robert G. Pasquay                   10,002 - .019%           ---0---
3 Yankee
Irvine, CA 92620

     (1)  Percentages are based on 51,851,509 shares of common stock
outstanding, prior to the rescission of the Thin Film Battery acquisition.

      (2)   Percentages are based on 5,831,503 shares of common stock
outstanding, after the rescission of the Thin Film Battery acquisition.

Changes in Control.
-------------------

     Following the rescission of the Thin Film Battery acquisition, Mr.
Meriwether became the controlling stockholder of the Company, which he was
prior to the completion of the Thin Film Battery acquisition.  See the
Company's 8-K, 8-KA-1 and 8-KA-2 Current Reports dated April 7, 2000, Part
III, Item 13.

Item 12. Certain Relationships and Related Transactions.
--------------------------------------------------------

Transactions with Management and Others.
----------------------------------------

     Except as indicated below under Part I, Item 1, there were no material
transactions, or series of similar transactions, during the Company's last
three calendar years, or any currently proposed transactions, or series of
similar transactions, to which the Company or any of its subsidiaries was or
is to be a party, in which the amount involved exceeded $60,000 and in which
any director, executive officer, any security holder who is known to the
Company to own of record or beneficially more than 5% of any class of the
Company's common stock, or any member of the immediate family of any of the
foregoing persons, or any promoter had a material interest.

Item 13. Exhibits and Reports on Form 8-K.
------------------------------------------

Reports on Form 8-K.
--------------------

          8-K Current Report dated January 6, 2000.

          8-K Current Report dated April 7, 2000.

         8-KA-1 Current Report dated April 7, 2000

          8-KA-2 Current Report dated April 7, 2000

          8-KA-3 Current Report dated April 7, 2000

          8-K Current Report dated October 27, 2000.

          8-K Current Report dated November 6, 2000.


                                                   Exhibit
Exhibits*                                          Number
Number                                             ------
------
          (i)

          None.

          (ii)                                 Where Incorporated
                                                 In This Report
                                                 --------------

10-KSB for the year ended December 31, 1999       Part 1, Item 1

          *   A summary of any Exhibit is modified in its entirety by
          reference to the actual Exhibit.

          **  These documents and related exhibits have
          previously been filed with the Securities and Exchange
          Commission and are incorporated herein by this
          reference.

                            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, hereunto duly authorized.

                              GLOBAL ACQUISITION, INC.


Date: 5/3/01                  By/s/Mark Meriwether
                                   Mark Meriwether, President and Director


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

                              GLOBAL ACQUISITION, INC.


Date: 5/3/01                  By/s/Mark Meriwether
                                   Mark Meriwether, President and Director