UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K


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

For the fiscal year ended November 30, 2008

Commission File Number 000-33271


GLOBAL BIOTECH CORP.


Delaware                                                 98-022951
(State or Other Jurisdiction of                      (I.R.S. Employer
Incorporation or Organization)                       Identification No.)


5800 Metropolitan Blvd E Suite 328
Montreal, Quebec H1S 1A7
ADDRESS OF principal Executive Offices)

Issuer's telephone number: (514) 333-4545

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

Securities registered pursuant to Section 12 (g) of the Act: Common stock, par
value $0.0001 per share

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

Yes |X|

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

Large accelerated filer [_]                       Accelerated filer          [_]

Non-accelerated filer   [_]                       Smaller reporting company  [X]
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as determined
in Rule 12b-2 of the Exchange Act) Yes [x]

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 3 of this Form 10-K or
any amendment to this Form 10-K. [X]

Issuer's revenues for its most recent fiscal year: $0

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GLOBAL BIOTECH CORP.
FORM 10-K ANNUAL REPORT
TABLE OF CONTENTS
SECTION
<S>                                                                                           <C>
PART 1

Item 1.     Business                                                                           1
Item 2.     Properties                                                                        10
Item 3.     Legal Proceedings                                                                 11
Item 4.     Submission of Matters to a Vote of Security Holders                               11

PART 2

Item 5.     Market for Registrant's Common Equity and Related Stockholders' Matters           11
Item 6.     Management's Discussion and Analysis of Financial Condition and Results of
            Operation                                                                         12
Item 7.     Financial Statements and Supplementary Data                                       17
Item 8.     Changes in and Disagreements with Accountants on Accounting and Financial
            Disclosure.                                                                       17
Item 8a     Controls and Procedures                                                           17

PART 3

Item 9.     Directors and Executive Officers of the Registrant                                18
Item 10.    Executive Compensation                                                            23
Item 11.    Security Ownership of Certain Beneficial Owners and Management                    24
Item 12.    Certain Relationship and Related Transactions                                     24

PART 4

Item 13.    Exhibits, Financial Statement Schedule and Reports on Form 8-K                    24
Item 14.    Principal Accountant Fees and Services                                            25
</TABLE>

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DESCRIPTION OF BUSINESS

(a) Business Development

GLOBAL BIOTECH CORP. ("GLOBAL"), formerly (SWORD COMP-SOFT CORP.) was organized
on November 2, 1998. Its goal was to bring interactive healthcare information
services utilizing the Internet to the consumer, the end user, to access what
they, as individuals, need.

As of March 5, 2003 this business was sold along with the assumption of
a note payable in the amount of $700,000 to Millenia Hope Inc., its former
parent corporation. In exchange, GLOBAL received 30.7 million shares of its
outstanding common shares held by Millenia Hope Inc. Subsequently, GLOBAL
acquired the exclusive 10 year North American licensing rights to a vehicle
tracking system in exchange for 30.7 million of its common shares.

GLOBAL's vehicle tracking system was supposed to seamlessly tie together
wireless communications and the Internet with global positioning technology to
link vehicles to a world of unlimited wireless services. As of February 24,
2005,GLOBAL's Board of Directors concluded that its attempt to enter the vehicle
tracking business was unsuccessful and entered into a provisional agreement,
with Advanced Fluid Technologies Inc. a Delaware corporation, to acquire assets
from the latter corporation pursuant to entering the bottled water, more
specifically the oxygenated bottled water, market. This Agreement was finalized
on August 15, 2007.

 (b) Business of Issuer

GLOBAL's goal is to position AquaBoost(TM), the bottled oxygenated water product
it expects to acquire from Advanced Fluid Technologies, as an energizing
alternative to soft drinks and as a beverage with more health benefits than
ordinary water. To date, the aforementioned product has had minimal sales and
the Company will endeavor, but can offer no guarantees, to raise its sales level
significantly. Officers and director of the firm have committed to fund the
operations of the Company until sufficient funds have been generated from
ongoing business.

OXYGENATED WATER, THE PRODUCT

Oxygen enriched water is water that is treated, combined or infused with oxygen.
Most oxygen enriched water companies claim that their water contains around
seven times the oxygen of natural, mineral, tap or spring water. For many of the
available brands the oxygen content is acknowledged to decrease over time
(giving products a shorter shelf life) and also decreases when the
oxygen-enriched water bottle is opened, as the oxygen slowly dissipates.

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Oxygenated water is a convenient source of additional oxygen for the body. The
benefits of additional oxygen, according to the studies run and research done,
include increased cardiovascular and muscular endurance. Oxygenated water raises
the body's energy levels, improves concentration, calms the nervous system, and
helps to remove toxins (See Tests and Studies).

BOTTLED WATER MARKET

Worldwide sales in the fast-growing bottled water industry have risen annually,
over the past decade, surpassing $40 billion US in 2004. The United States
market was $7.1 billion US and the European market, where bottled water is the
leading beverage, at an estimated $12 billion. Some analysts suggest that
bottled water will surpass all US beverage categories, excluding soft drinks.

Oxygenated bottled water is a sub-category, one of the groups of specialty
beverages, of the broader bottled water market. Zenith International, a British
food industry consultant, stated, in its January 2005 report, that the worldwide
sales of bottled oxygenated water in 2004 reached 110 million litres, a growth
of 30% from previous year and 65% during the past 2 years.

MARKET SIZE AND TRENDS

The oxygenated water market represents an important niche within the global
beverage market. The product imparts beneficial aspects not available from
bottled water, and is a healthy substitute for soft drinks. For the year 2004,
according to the aforementioned Zenith study, Europeans purchased some 44
billion litres of bottled water and Americans more than 26 billion litres. The
2004 sales figures for oxygenated bottled water were 32 million litres for the
United States and 40 million litres for Europe, respectively.
As per the previously mentioned Zenith report, oxygenated water sales should
double between 2004 and the year 2008. This would yield an annual growth rate of
20%, far above the predicted growth rate of regular bottled water.
According to the Canadian Soft Drinks Association, bottled water is the largest
selling beverage in Europe and ranks behind soft drinks in North America. The
growth rate in the past decade for all bottled water consumption is much higher
than that of soft drinks.

COMPETITION

Several Canadian companies and Bio-Hydration of San Diego, California, the
volume leader in oxygenated water, have developed their own oxygenated water.O2
Canada, Oxyl'Eau, Neva Sport, Athletic Superwater, and Life 02 are being
marketed as a means to improve athletic performance. Penta and Avani's
oxygenated water relies on the purity of its product in its sales effort.

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All of these brands are not on par with AquaBoost(TM) in either their
oxygen-retentive abilities and/or in their levels of oxygenation.


         Brand            Parts Per Million of          Oxygen Retentive Ability
                          Oxygen                        Upon Opening of a Bottle
                                                                       600ml
----------------------------------------------------------
Penta Waters              Up to 70                Not listed

Life O2                   Up to 120               Less than 36 hours

O2 Canada                 Up to 40                Not listed

Athletic Super Water      Up to 50                Not listed

Avani Extra Oxygen        Up to 50                Maximum up to 2 hours

Neva Sport                Up to 50                Within 24 hours

OxyL'eau                  15                      Not listed


AQUABOOST(TM)

AquaBoost(TM) is "oxygenated" water: it has been treated to retain oxygen in
concentrations far higher than those found in nature. For example, water can
retain 9 parts per million (ppm) of oxygen at 20(degree) under a pressure of one
atmosphere. Studies conducted by the Quebec government have confirmed that our
water contained at least 20 ppm - the highest concentration detectable by the
government lab's measurement instruments. Our own tests established that
AquaBoost(TM) contained in excess of 80 ppm and even exceeded 100 ppm, even six
months after bottling (See Tests and Studies section).

PRODUCTION PROCESS

We have added new dimensions to the laws of physics governing dissolved gases.
Our method of dissolving gases in a liquid works by influencing ionic mobility,
electron diffusion, via an electron cannon, and the use of triboelectricity with
electrostatic charges. Due to the aforementioned processes, we can attach and
stabilize oxygen molecules in water at levels previously unheard of, 100PPM and
even higher.

Therefore, in contrast to a mineralized solution reducing the dissolvability of
oxygen in water, as would be the case with our competitors' products, a small
quantity of minerals helps us create conductivity in water. In effect, the
amount of conductivity is influenced by the electrolyte strength, the nature of
free ions and their concentration in water. The process modifies water's
physical and chemical characteristics and allows us to bond the oxygen molecule
to water.

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<PAGE>

Currently, we expect that our oxygenated bottled water will be produced for us
by Saint Ellie's bottling plant in Quebec,Canada, though we have the option to
utilize any other facility that may prove more efficacious. Their production and
bottling capacity is more than adequate to fill our estimated annual sales of
oxygenated water.

DEVELOPMENT

We are researching the optimum path to bring further products to the market in
the medium term, by exploring the oxygenation technology's application in
beverages other than water. Oxygenated fruit-juices is one of the development
items on our mid-term strategic horizon.

COMPETITIVE ADVANTAGES

   o  Due to its production process, AquaBoost(TM)'s elevated oxygen content
      does not simply bubble away, when the product is opened, as happens with
      many of our competitors' products. Aquaboost(TM) will retain its oxygen
      level over a much longer period of time than its competitors.

   o  Our level of dissolved oxygen, up to 100ppm, is far greater than the vast
      majority of our competitors (see previous section).

   o  Our production process ensures that our product is clean of all
      contaminants and impurities.

PRICING AND MARKETING

PRICING

Due to the superior qualities of of AquaBoost(TM), we believe that retailers
will obtain premium prices for it. The higher price will signal to consumers
that there is something "unique" about AquaBoost(TM), which we expect will fuel
greater customer demand. It will also offer the increased margins of oxygenated
and specialty type waters to distributors, thus helping to boost our product's
introduction into the consumer marketplace.

POTENTIAL CONSUMERS

AquaBoost(TM) offers important benefits to consumers. In raising their oxygen
levels, people not only feel better and have increased energy levels, they also
think more clearly and function at peak performance for longer periods of time,
improving their work and leisure time productivity.

An in house survey of potential AquaBoost(TM) customers and the 2005
report of Zenith International tell us that they are health-conscious, men and
women who will benefit from the additional oxygen in their bodies. They lead
active lifestyles, engage in sports and other physical activities and are
looking for healthy, nourishing alternatives to soft drinks and other
traditional beverages.

                                       4
<PAGE>

A secondary group that we have identified, through the same research, are the
elderly, who may encounter oxygen deprivation through illness and physical
trauma. Oxygen reduces the effectiveness of pathogenic bacteria and viruses. As
a simple, readily available source of oxygen. AquaBoost(TM) can offer these
consumers better health.

In March 2001 Aquaboost(TM) was shown at the beverage and food show, SIAL, in
Montreal, Quebec. Over 4,000 samples of Aquaboost(TM) were given out and
generated significant positive interest during the commencement of the product
testing phase.

MARKETING STRATEGY

The Company, both in the short and in the long term, aims to raise the awareness
of our product, and the added benefits of additional oxygen in the blood stream.


Medical benefits, of elevated oxygen levels, include:


Treatment of:

- Infectious Diseases
- Chronic wounds
- Anemia/blood loss
- Post operative wound care
- Spinal cord injury
- Cerebral Damage
- Burn Victims

Improvements in:

- Cognitive performance
- Lowering blood pressure
- Depression
- Sleep Disorders
- Chronic joint and muscular pain
- Chronic Fatigue
- Respiratory and Heart problems
- Stimulation of metabolism

AquaBoost(TM) will be marketed and differentiated as having one of the highest
PPM of oxygen and retaining this level over an extended period of time, thus
conveying more of the potential benefits of higher bloodstream oxygen levels.
With appropriate financing we will also utilize sport stars and will continue to
ride the general bottled water and specialty water consumption rise, vis a vis
soft drinks and other beverages.

                                       5
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PURCHASED RIGHTS

On August 15,2007 the Company finalized an agreement with Advanced Fluid
Technologies to purchase their to be patented oxygenation unit and all technical
know how, intellectual properties, methodologies and all information pertaining
to the following: the fixation of the oxygen molecule to water or any other
fluid and/or to the building and maintenance of the oxygenation unit.
Furthermore; all trademarks for the name Aquaboost Oxygenated Water, and the
right to use and register said name globally, were to be transferred to Global.

Purchase price, for all the aforementioned assets, is a combination of debt this
being the $216,261 due by AFT to the Company in a note payable as of August 26,
2005, and 18 million shares of the Company's common stock, valued at $720,000.
Pursuant to the above stock issuance to Advanced Fluid Technologies, on August
15,2007, the assets listed in the Agreement were transferred to the Company.

TESTS AND STUDIES

AquaBoost(TM) oxygen levels and retentive abilities

December 1999 - March 2000-Test done by the Government of Quebec, Canada's
Testing facility.

58 samples of 500 ml and 1000 ml bottles refrigerated until December 23, 1999
and then left at room temperature until the end of the of experiment
Upper limit of government testing equipment 20 ppm
Samples opened December 23, 1999, January 19, February 16 and March 13, 2000.

All samples measured at or above the maximum testing level i.e. in excess of 20
ppm of dissolved oxygen.

February 2000 - July 2000-Test done In-House by Dr. Rene Morel of Hospital
Maisoneuve Rosemont.
Measured, once a month, the oxygen level of a total of 200 bottles, 500 ml and
1000 ml, left at room temperature, for 6 months consecutively.
All samples measured between 80-110 ppm of dissolved oxygen, even after 6
months.

August 2000 - Test done by LAB Preclinical Research International
Variation of PO2 levels in MMHG in relation to time, animals
1 canine test subject, 11 months old, 500 ml with an oxygen content of 33 ppm
Increased PO2 level within a short time of receiving the oxygenised solution.

July 2000 - Test done by Dr. Knox van Dyke and Dr. Meir Sacks - University of
West Virginia

Examined AquaBoost(TM) in an assay against the strong pro-oxidant SIN-1 which
produces a key body oxidant called peroxynitrite. AquaBoost acted as an
antixiodant by suppressing the light from luminol. Normally the peroxynitrite
reacts with the luminol to produce light. AquaBoost interfered with the
production or transmission of light, clearly indicating it is acting as an
antioxidant.
November 2000 - Test done In-House by Dr. Rene Morel of Hospital-Maisoneuve
Rosemont.

Variation of PO2 levels in MMHG in relation to time, humans
6 adults, male and female ages 38-53, who ingested 750 ml each of AquaBoost(TM)
with an oxygen content of 100ppm. In all cases, their PO2 level increased
significantly within a short time of ingesting Aquaboost(TM). Equally as
significant, the elevated level of PO2 was detectable after a sustained period
of time.

                                       6
<PAGE>

April 2002 - Test done by Northwest Environmental Water Lab in Oakville.
AquaBoost retaind oxygenated was 82ppm or 900% more than naturally occurring
oxygen in water.

STUDIES ON THE BENEFITS OF INGESTING OXYGENATED WATER

The European Journal of Medical Research( vol.6, Nov 20,2001) has carried out a
study on the effect of oxygen enriched water on behalf of Germany's
Adelhoizener. The study found that, due to warming in the stomach, oxygen bound
in mineral water slowly de-binds and penetrates the stomach septum. Hence,
venous blood leading to the liver was additionally supplied with oxygen. This
oxygen enrichment amounted to 7% to 14% and lasted for around one hour.

In August 1997 double-blind tests were conducted by the Center for Research on
Woman's Health, Denton, Texas under the supervision of Dr. John Duncan. This
involved 25 participants - 20 male and 5 females. They were given either
clustered and oxygen enriched water or normal water and asked to run for 90
minutes with relevant recordings and measurements taken. It was found that
runners drinking the clustered and oxygen enriched water decreased recorded
times over the 5 kilometre distance by an average of 31 seconds, compared to
regular bottled water. It was concluded that oxygen enriched beverages could
increase athletic achievement.

According to a January 1999 article in the Canadian Journal of Health and
Nutrition, "Oxygen Boosts Performance", the addition of extra oxygen to the
human body yields many health and well-being benefits: improved cardiovascular
endurance, raised energy levels, improved concentration, a calmer nervous
system, and reduced toxin levels.

In a study conducted for Oxy-Water by George Washington University, entitled
"Effects of Oxygenized Water on Percent Oxygen Saturation and Performance During
Exercise"( presented to The American College of Sports Medicine in June 2001 by
Jenkins,Moreland,Waddell and Fernhall), the effect of oxygen enriched water on
performance during exercise was investigated. The study involved ten men and ten
women aged between 23 and 35 - all regular exercisers. Each person performed two
maximum output tests and two endurance tests, two for both oxygenized and
distilled water. All four tests were carried out on a cycling machine. Each
person drank 50cl of water 15 minutes before each test and then immediately
following fatigue.

Further separation of the group found that the time to fatigue during the
maximum output exercise was greater with Oxy-Water compared to the distilled
water. The study concluded, "Individuals who are highly trained may benefit from
the use of oxygenised water to increase percentage oxygen saturation during
acute bouts of intense exercise and possibly prolong time to fatigue. Even small
increases in oxygen saturation may be significant in highly trained individuals
and elite performers."

"Oxygen plays a pivotal role in the proper functioning of the immune system..we
can look at oxygen deficiency as the single greates cause of all diseases."
Stephen Levine, a respected molecular biologist and geneticist, and Dr. Paris M.
Kidd, Ph.D., excerpted from Antioxidant Adaptation and Immunity, etc., published
in August 1986.

Two time Nobel Prize winning researcher, Dr. Otto Warburg determined that
healthy cells might become cancerous as a result of oxygen depriviation.- per an
OxyPlus oxygenated water excerpt

Dr. Otto Warburg's studies prove that when your body is saturated in oxygen,
your healthy cells have more energy and are stronger. Cancer cells do not feed
on oxygen,they feed on fermentation. An oxygen- saturated body is a hostile
environment for cancer. Oxygen increases your energy, your memory and the
quality of your life(excerpted from his address on June 30,1966 in Lindau, Lake
Constance, Germany).

                                       7
<PAGE>

As reported in the New York Times in 2001,Glenn J. Butler, whose bio-engineering
career includes work with NASA and whose firm manages The Chronic Wound
Treatment & Hyperbaric Center at The Mount Vernon Hospital, researched the long
and short-term effects of consuming Oxygen8 (an oxygenated water produced in the
US). Mr. Butler's findings: "By drinking Oxygen8, there is a significant
increase in blood oxygen levels. The results suggest that the oxygen remains in
the system for longer than 10 minutes after consumption. Approximately 1 out of
every 3 of Americans is in need of hydration and thus, oxygen would be
beneficial for their health."

As with many scientific claims, there are detractors from the benefit of
ingesting oxygen enriched water. The tests and studies we have quoted are the
validation for our beliefs in the benefit of oxygenated water.

AQUISITIONS

On August 15, 2007 the Company finalized an agreement with Advanced Fluid
Technologies to purchase their to be patented oxygenation unit and all technical
know how, intellectual properties, methodologies and all information pertaining
to the following: the fixation of the oxygen molecule to water or any other
fluid and/or to the building and maintenance of the oxygenation unit.
Furthermore; all trademarks for the name Aquaboost Oxygenated Water and the
right to use and register said name globally, were to be transferred to Global.

Purchase price, for all the aforementioned assets, was a combination of debt
this being the $216,261 due by AFT to the Company in a note payable as of August
26, 2005, and 18 million shares of the Company's common stock valued at $0.04
per share or $720,000. Pursuant to the above stock issuance to Advanced Fluid
Technologies on August 15,2007, the assets listed in the Agreement were
transferred to the Company.

Business Objectives and Milestones

The Company's short-term and medium-term objectives are as follows:

     o    To attach our oxygenation unit in Quebec to the bottling line of a
          recognized North American bottler via a joint venture or establish our
          own bottling plant;
     o    To create a revenue stream through sales from strategic merchandising
          relationships and highly targeted markets - to this end, the Company
          is working on forming business relationships with pharmacy chains to
          place its nutraceutical beverage products in the next 6 to 12 months;
     o    To strengthen its investor relations program, to increase shareholder
          value and increase public investors' interest in the Company; and
     o    To complete development of additional oxygenated and non-oxygenated
          drinks with nutraceutical values, which can be added to the Company's
          product offering, distributed by others, or licensed to others.
     o
The Company's long-term objectives are:

     o    To position Aquaboost(TM) as a top quality oxygenated water in the
          specialty waters market - Aquaboost(TM)'s oxygenation level (up to 100
          ppm and greater), the ability of our bottled water to retain this
          level of oxygenation, even over lengthy periods of time, and the
          purity of our product, we believe, should give Aquaboost(TM) the
          ability to become a staple in this specialty waters niche;

                                       8
<PAGE>

     o    To reach our 4 years sales objective - We have set a conservative
          sales objective of 4-6% of the European and American markets, or
          US$12.5 million to US$20 million of annual revenues by 2012. The fact
          that Aquaboost(TM) was seen by hundreds of distributors at the SIAL in
          Montreal, Canada in 2001, gives Management confidence that Global can
          meet these sales objectives; and

     o    To enter other complimentary beverage fields - The Company has held
          discussions with several large beverage companies about oxygenating
          fruit juices. Should these discussions prove successful, the Company
          would have another major revenue generating area. The Company may also
          partner with other beverage distributors or lease its technology for
          royalties in those regions and for those products where it will not
          negatively impact potential Aquaboost(TM) sales. We are also
          conducting research and development on a potential new product that we
          currently refer to as "Aquaboost-VitA: Orange Antioxidant".



                                       9
<PAGE>

EMPLOYEES

There are no signed contracts with any employees. At the current time the
following officers are its only employees:

Louis Greco - President-Director

Responsible for overall operational co-ordination, implantation of its new
business direction and the marketing effort required to bring this to fruition.
At present, he devotes 1 1/2 days per week to the Company and is a resident of
Montreal.

Perry Choiniere - Chief Operating Officer-Director

Responsible for day-to-day implantation of the Company's entry into the bottled
water field. Currently, he devotes a full week to the Company and is a Montreal
resident.

Frederique Blondeleau- Vice President - Sales and Marketing

Responsible for sales and marketing. He devotes his time to the Company as his
expertise is needed, based on the Company's development stage, and is a Montreal
resident.

Dr. Pierre Marois, Chief Scientific Officer

Dr. Pierre Marois, a well- respected physician at St. Justine's Hospital in
Montreal, Canada, specializes in rehabilitative and epidermal medicine. Dr.
Marois has specific expertise in the oxygenation process, having been one of the
leaders of a research team involved in oxygenation projects from 1998-2001.
Resident of Montreal.

Gilles Lamarre- Vice President-Director

Responsible for assisting the President with general oversight of the Company,
its operations and shareholder communications. Currently, he devotes a full week
to the Company and is a Montreal resident


Eric Sonigo, Vice President - Production

Once the corporation starts selling its product in large volume,
Mr. Sonigo will be responsible for the production runs and machinery
maintenance, as well as scheduling of orders and will work full time for the
Company. He is a Montreal resident.

Although the aforementioned six officers, to a greater or lesser extent, do not
work full time for GLOBAL; each one devoted an adequate amount of time to
accomplish his role in the corporate structure. Whenever it is necessary, each
of these officers puts in work time over and above their regularly scheduled
workday.


ITEM 2
DESCRIPTION OF PROPERTIES

Our principal office is 1200 sq, ft., located at 5800 Metropolitan Est, suite
328 in Montreal, Quebec.

                                       10
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ITEM 3
LEGAL PROCEEDINGS

We are not involved in any material legal proceedings.



ITEM 4
ITEMS SUBMITTED TO A VOTE OF SECURITY HOLDERS

None

ITEM 5
MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS

(a) Market in Formation

Currently, there is no public market for GLOBAL BIOTECH CORP. shares. The
company has filed, via a market maker, documentation to allow it to be traded
publicly on a North American Stock Exchange.

Of the 67,265,500 shares of common stock outstanding, 53,167,550 shares are
currently subject to the resale restrictions and limitations of Rule 144. In
general, under Rule 144 as currently in effect, subject to the satisfaction of
certain other conditions, a person, including an affiliate, or persons whose
shares are aggregated with affiliates, who has owned restricted shares of common
stock beneficially for at least one year is entitled to sell, within any
three-month period, a number of shares that does not exceed 1% of the total
number of outstanding shares of the same class. In the event the shares are sold
on an exchange or are reported on the automated quotation system of a registered
securities association, you could sell during any three-month period the greater
of such 1% amount or the average weekly trading volume as reported for the four
calendar weeks preceding the date on which notice of your sale is filed with the
SEC. Sales under Rule 144 are also subject to certain manner of sale provisions,
notice requirements and the availability of current public information about us.

A person who has not been an affiliate for at least the three months immediately
preceding the sale and who has beneficially owned shares of common stock for at
least two years is entitled to sell such shares under Rule 144 without regard to
any of the limitations described above.



(b) Holders

As of February 27, 2009, there were 280 holders of the Company's common stock.

(c) Dividends

The Company has had no earnings to date, nor has the Company declared any
dividends to date. The payment by the Company of dividends, if any, in the
future, rests within the discretion of its Board of Directors and will depend,
among other things, upon the Company's earnings, its capital requirements and
its financial condition, as well as other relevant factors. The Company has not
declared any cash dividends since inception, and has no present intention of
paying any cash dividends on its Common Stock in the foreseeable future, as it
intends to use earnings, if any, to generate growth.

                                       11
<PAGE>

(d) Recent Sales of Unregistered Securities.

Common Stock


On August 15, 2007 the Company issued 18,000,000 shares of common stock in
settlement of Property & Equipment of $605,000 and goodwill of $115,000, a total
of $720,000



(a) Common or Preferred Stock

The Company is authorized to issue 260,000,000 shares of Common Stock, $0.0001
par value, of which 67,265,500 shares were issued and outstanding as of the date
hereof. Each outstanding share of Common Stock is entitled to one (1) vote,
either in person or by proxy, on all matters that may be voted upon the owners
thereof at meetings of the stockholders.

The holders of Common Stock: (i) have equal ratable rights to dividends from
funds legally available therefore, when and if declared by the Board of
Directors of the Company; (ii) are entitled to share ratably in all of the
assets of the Company available for distribution to holders of Common Stock upon
liquidation, dissolution or winding up of the affairs of the Company; (iii) do
not have preemptive, subscription or conversion rights, or redemption or sinking
fund provisions applicable thereto; and (iv) are entitled to one non-cumulative
vote per share on all matters on which stockholders may vote at all meetings of
stockholders.

Holders of Shares of Common Stock of the Company do not have cumulative voting
rights, which means that the individuals holding Common Stock with voting rights
to more than 50% of eligible votes, voting for the election of directors, can
elect all directors of the Company if they so choose and, in such event, the
holders of the remaining shares will not be able to elect any of the Company's
directors.

The Company is authorized to issue 80,000,000 shares of Preferred Stock, $0.0001
par value, of which 0 shares were issued and outstanding as of the date hereof.

(b) Debt Securities.

The Company has not issued any debt securities to date.

(c) Other securities to be registered

None
ITEM 6 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.

Special Note Regarding Forward-Looking Statements

Some of the statements under "Plan of Operations", "Business" and elsewhere in
this registration statement are forward-looking statements that involve risks
and uncertainties. These forward-looking statements include statements about our
plans, objectives, expectations, intentions and assumptions and other statements
contained herein that are not statements of historical fact. You can identify
these statements by words such as "may," "will," "should," "estimates," "plans,"

                                       12
<PAGE>

"expects," "believes," "intends," and similar expressions. We cannot guarantee
future results, levels of activity, performance or achievements. Our actual
results and the timing of certain events may differ significantly from the
results discussed in the forward-looking statements. You are cautioned not to
place undue reliance on any forward-looking statements.

Plan of Operation.

The following discussion should be read in conjunction with the financial
statements and related notes, which are included elsewhere in this prospectus.
Statements made below which are not historical facts are forward-looking
statements. Forward-looking statements involve a number of risks and
uncertainties including, but not limited to, general economic conditions and our
ability to market our product.

The business objective of GLOBAL is to position AquaBoost(TM) as a top quality
oxygenated water in the specialty waters market. Our oxygenation level (up to
100 ppm and greater), the ability of our bottled water to retain this level of
oxygenation, even over lengthy periods of time and the purity of our product, we
believe, should give us the ability to become a staple in this specialty waters
niche.

We have set a conservative sales objective of 4-6% of the European and American
markets, or $12.5 million U.S. to $20 million U.S., by the year 2012, our
envisioned fourth year of production. The fact that AquaBoost(TM) was seen by
hundreds of distributors at the SIAL in Montreal, Canada in 2001 and that there
is already a market in Mexico for the product, gives us confidence in our
abilities to reach our sales objectives. However, no assurances can be given
that the Company will meet these goals.

Furthermore, the Company has held discussions with several large beverage
companies about oxygenating fruit juices. Should these discussions prove
successful, the Company would have another major revenue generating area.
Currently, it is too premature to hazard an estimate about the likelihood of
finalizing any deals with said corporations.
The Company will also attempt to partner with other beverage distributors or
lease its technology for royalties in those regions and for those products where
it will not negatively impact on potential AquaBoost(TM) sales.

GLOBAL BIOTECH CORP. (formerly SWORD COMP-SOFT CORP.) was incorporated in
November 1998 as an (ASP) Application Service Provider, specializing in the
E-Healthcare sector.

On May 29, 2000 Millenia Hope Inc. acquired 35,700,000 shares of GLOBAL BIOTECH
CORP., this being the 76% of GLOBAL's issued capital, in exchange for 5,000,000
common shares, valued at $129,478 based on the net tangible asset value of
Millenia Hope and not fair market value of the shares and 5,000,000 warrants
entitling the registered holder thereof to purchase at any time from that date
for a period of three years, one share of common stock at a price of two
dollars.

As of March 5, 2003 this business was sold along with the assumption of a note
payable of $700,000 to Millenia Hope Inc., its former parent corporation. In
exchange, GLOBAL received 30.7 million shares of its outstanding common shares
held by Millenia Hope Inc. Subsequently, GLOBAL acquired the exclusive 10 year
North American licensing rights to market a unique vehicle tracking model from
First Link Assoc. in exchange for 30.7 million of its common shares.

GLOBAL's vehicle tracking system was supposed to seamlessly tie together
wireless communications and the Internet with global positioning technology to
link vehicles to a world of unlimited wireless services. As of February 24,
2005, GLOBAL's Board of Directors concluded that its attempt to enter the
vehicle tracking business was unsuccessful and entered into a provisional
agreement, with Advanced Fluid Technologies Inc. (AFT), a Delaware corporation,
to acquire assets from the latter corporation pursuant to entering the bottled
water, more specifically, the oxygenated bottled water market.

                                       13
<PAGE>

On August 15,2007 GLOBAL finalized an agreement with Advanced Fluid Technologies
to purchase their to be patented oxygenation unit and all technical know how,
intellectual properties, methodologies and all information pertaining to the
following: the fixation of the oxygen molecule to water or any other fluid
and/or to the building and maintenance of the oxygenation unit. Furthermore; all
trademarks for the name Aquaboost Oxygenated Water and the right to use and
register said name globally, were to be transferred to Global.

Purchase price, for all the aforementioned assets, was a combination of debt
this being the $216,261 due by AFT to the Company in a note payable as of August
26, 2005, and 18 million shares of the Company's common stock valued at $0.04
per share or $720,000. Pursuant to the above stock issuance to Advanced Fluid
Technologies on August 15,2007, the assets listed in the Agreement were
transferred to the Company.


GLOBAL's registration statement, with the Security and Exchange Commission, was
accepted on July 16, 2001 and it is a reporting company. It is presently in the
process of re-applying, via a market maker, to allow it to be traded publicly,
on a North American Stock Exchange.



In an effort to expand its product line, the Company is working on developing a
new product that we currently refer to as "Aquaboost-VitA: Orange Antioxidant".
This experimental product contains water oxygenated using the Aquaboost(TM)
technology, vitamin C, vitamin E and apple skin extract. The Company is in the
research and testing phase of the product's development, and is conducting
research into the product's antioxidant effects and palatability.



On December 6, 2007 the Company, pursuant to the agreement of the shareholders
owning the majority of the common shares and the resolution of the Board of
Directors, raised its authorized Common shares to 260,000,000 and authorized
80,000,000, $0.0001 par value, blank check Preferred shares.

Effective September 21, 2008, Jean Pierre Robichaud resigned as Vice President -
Sales and Marketing of Global Biotech Corp. and Frederique Blondeleau was
appointed Vice President - Sales and Marketing. Mr. Blondeleau's appointment was
confirmed at a meeting of the directors of the Company held on January 19, 2009.
Mr. Blondeleau, aged 36, will serve as Vice President - Sales and Marketing of
the Company until further notice.

 Effective November 25, 2008, Gilles Lamarre was appointed a Vice President of
the Company. Mr. Lamarre's appointment was confirmed at a meeting of the
directors of the Company held on January 19, 2009. Mr. Lamarre, aged 61, will
serve as Vice President of the company until further notice.

 On January 14, 2009, Giuseppe Daniele resigned as a director of the Company. On
January 19, 2009 Gilles Lamarre was appointed a director of the Company to fill
the vacancy created by his resignation. On January 19, 2009, Perry Choiniere was
appointed the Chief Financial Officer of the Company. Mr. Choiniere, aged 43,
will serve as the Company's Chief Financial Officer until further notice.

                                       14
<PAGE>

On January 19, 2009, the Company adopted amended and restated bylaws relating
generally to the transaction of the business and affairs of the Company. The
bylaws were amended and restated to allow directors to determine the size of the
Board of Directors, within a set range, and to clarify the provisions of the
original bylaws. A copy of the amended and restated bylaws of the Company was
attached to our 8K filing of January 29,2009.



                                       15
<PAGE>

Year ended November 30, 2007 compared to November 30, 2008

In 2007 we had $16,253 of professional and SG&A exp. In 2008 we had $35,956. The
rise in costs were due to $14,200 of extra regulatory fees, in connection with
our attempt to be become a listed trading company, and a $5,000 consultant's
fee.

In 2007 we wrote off $331,261 of goodwill that was booked as part of our
Purchase Agreement with AFT to acquire oxygenated water assets. We did not have
this expense in 2008.

We had net interest expense, on our outstanding notes, of $28,822 in 2007 and
$31,368 in 2008.

As a result of the foregoing we had a loss of $376,336 in 2007 and a loss of
$63,371 in 2008.

LIQUIDITY AND CAPITAL RESOURCES

At November 30, 2008 the company had negative working capital of $537,733. We
expect that our cash needs for the fiscal year ending November 30, 2009 will be
$600,000. Management anticipates generating revenue through sales during the
next fiscal year. The officers and directors of the company have indicated their
commitment to help in finding funds to aid in the operations of the organization
during the next fiscal year, until the organization can generate sufficient cash
flow from operations to meet current operating expenses and overhead.

 Recent Accounting Pronouncements


In March 2008, the FASB issued SFAS No. 161, "Disclosures about Derivative
Instruments and Hedging Activities - an amendment of SFAS No. 133." This
Statement amends and expands the disclosure requirements by requiring
qualitative disclosures about objectives and strategies for using derivatives,
quantitative disclosures about fair value amounts of, and gains and losses on,
derivative instruments, and disclosures about credit risk-related contingent
features in derivative agreements. SFAS No. 161 is effective for financial
statements issued for fiscal years and interim periods beginning after November
15, 2008.

In April 2008, the FASB approved FSP FAS 142-3, "Determination of the Useful
Life of Intangible Assets." FSP FAS 142-3 amends the factors that should be
considered in developing renewal or extension assumptions used to determine the
useful life of a recognized intangible asset under SFAS No. 142, "Goodwill and
Other Intangible Assets." FSP FAS 142-3 is effective for the Company's fiscal
year beginning January 1, 2009, with early adoption prohibited.

In May 2008, the FASB approved FSP APB 14-1, "Accounting for Convertible Debt
Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash
Settlement)." FSP APB 14-1 clarifies that convertible debt instruments that may
be settled in cash upon conversion (including partial cash settlement) are not
addressed by paragraph 12 of APB Opinion No. 14, "Accounting for Convertible
Debt and Debt issued with Stock Purchase Warrants." Additionally, FSP APB 14-1
specifies that issuers of such instruments should separately account for the
liability and equity components in a manner that will reflect the entity's
nonconvertible debt borrowing rate when interest cost is recognized in
subsequent periods. FSP APB 14-1 is effective for the Company's fiscal year
beginning January 1, 2009.

                                       16
<PAGE>

In June 2008, the FASB issued FSP EITF 03-6-1, "Determining Whether Instruments
Granted in Share-Based Payment Transactions Are Participating Securities." FSP
EITF 03-6-1 addresses whether instruments granted in share-based payment
transactions are participating securities prior to vesting and, therefore, need
to be included in computing earnings per share under the two-class method
described in SFAS No. 128, "Earnings Per Share." FSP EITF 03-6-1 requires
companies to treat unvested share-based payment awards that have non-forfeitable
rights to dividend or dividend equivalents as a separate class of securities in
calculating earnings per share. FSP EITF 03-6-1 will be effective for the
Company's fiscal year beginning January 1, 2009, with early adoption prohibited.

The adoption of these new Statements is not expected to have a material effect
on the Company's current financial position, results of operations, or cash
flows.



ITEM 7. Financial Statements.

The financial statements are included at the end of this Annual Report, after
the signature page.

Item 8. Changes In and Disagreements with Accountants on Accounting and
Financial Disclosures

None



Item 8a. Controls and Procedures

The Company maintains disclosure controls and procedures that are designed to
ensure that information required to be disclosed in the Company's Exchange Act
reports is recorded, processed, summarized and reported within the time periods
specified in the SEC's rules and forms, and that such information is accumulated
and communicated to the Company's management, including its Chief Executive
Officer and Chief Financial Officer, to allow timely decisions regarding
required disclosure based closely on the definition of "disclosure controls and
procedures" in Rule 13a-14c. In designing and evaluating the disclosure controls
and procedures, management recognizes that any controls and procedures, no
matter how well designed and operated, can provide only reasonable assurance of
achieving the desired control objectives, and management necessarily was
required to apply its judgment in evaluating the cost-benefit relationship of
possible controls and procedures. Within 90 days prior to the date of this
report, the Company carried out an evaluation, under the supervision and with
the participation of the Company's management, including the Company's Chief
Executive Officer and the Company's Chief Financial Officer, of the
effectiveness of the design and operation of the Company's disclosure controls
and procedures. Based on the forgoing, the Company's Chief Executive Officer and
Chief Financial Officer concluded that the Company's disclosure controls and
procedures were effective.

                                       17
<PAGE>

ITEM 9

Director and Executive Officers

a) Directors and Executive Officers

Name                               Age      Title

Louis Greco                        54       President-Director
Perry Choiniere                    43       Chief Operating Officer - Director
Frederique Blondeleau              36       Vice President - Sales & Marketing
Dr. Pierre Marois                  57       Chief Scientific Officer
Gilles Lamarre                     61       Vice President-Director
Eric Sonigo                        41       Vice President Production



Louis Greco - President, CEO and Director

Louis Greco, age 54, received his B. Comm. from McGill University in Montreal,
Canada in 1974. Mr. Greco has been involved with a variety of consumer oriented
industries in his 30 years in business. He worked in financial industry as a
branch manager of the National Bank from 1975-1980. During the next decade until
1990, Mr. Greco was the manager of a chain of video outlets, and involved with
sales. From 1990 to 1995, he co-owned a retail food establishment. Between 1996
and present he has worked as a sales consultant to the national divisions of
multinational office technology corporations, Minolta (Canada) and Panasonic
Canada. Mr. Greco's management, sales and financial skills will greatly aid
Global Biotech. His experience in sales will help the Company to strategically
position its products and technical expertise in the desired marketplaces. As
President and CEO of the Company, Mr. Greco is responsible for the general
oversight of the Company, its operations and its communications with its
shareholders. Mr. Greco currently devotes part of his time working for the
Company, but will be working full-time as an employee once Global commences
sales of its product.

Perry Choiniere - Chief Operating Officer, Chief Financial Officer, and Director

Perry Choiniere, age 43, has been involved in a number of consumer oriented
ventures for more than 20 years. He started his career in the customer service
field for a large provider of heating oil to residential and commercial users.
For most of the next 2 decades he managed and ran several businesses involved in
the maintenance and construction sectors, dealing directly with the public and
being responsible for the day to day administration of the previously mentioned
businesses. During the last 4 years to date, he has been involved with the
negotiations and sales of products, both domestically and internationally, in
the pharmaceutical and nutritional industries. Mr. Choiniere brings to Global a
broad knowledge of business management and expertise in consumer relations. Mr.
Choiniere has worked with Biomedico Pharma in a technical quasi-engineering
capacity. His intuitive abilities have assisted him in understanding the
mechanical aspects of the oxygenation process. As a director, the Chief

                                       19
<PAGE>

Operating Officer, and Chief Financial Officer his responsibilities are to
oversee and manage the operations of bottling line and the logistics' attached
to the oxygenation and bottling process and to manage the finances and financial
reporting obligations of the Corporation. Mr. Choiniere devotes all of his time
to the Company as a full-time employee.

Dr. Pierre Marois - Chief Science Officer

Dr. Pierre Marois, age 57, served as a Director at Global from May 11, 2006
until August 15, 2007, and has been a Chief Science Officer since May 11, 2006.
Dr. Marois received his medical degree from the University de Montreal in 1978
and his specialization certificate, from the College of Physicians and Surgeons
of Canada, in 1979. For the past 25 years, Dr. Marois has worked as a physician
at St. Justine's Hospital in Montreal, Canada, and several other pediatric
hospitals specializing in Physical Medicine and Rehabilitation where he is
well-respected. Dr. Marois has initiated countless research projects in
neuromuscular disease and cerebral palsy. Dr. Marois has specific expertise in
the oxygenation process, having been one of the leaders of a research team
involved in oxygenation projects from 1998-2001 for which he received the
inaugural Richard A. Neubauer award. He has participated in symposiums, lectures
and written numerous articles on the subject, for the past decade. He is known
for his work with children in hyperbaric chambers, in which pressurized oxygen
is injected into a chamber and the body is subjected to an increased amount of
oxygen. He is a leading authority on the effects of oxygen therapy on the human
body. As a part time employee of the Company, the proportion of his time devoted
to the Company is dependent upon the requirements of the Company for his
expertise, the Company's phase of development and his availability.

Frederique Blondeleau - Vice President - Sales and Marketing

Frederique Blondeleau, age 36, has been involved in sales and marketing
throughout his career. During his time as the western sales and marketing
director for a U.S. company, Mr. Blondeleau organized national media events,
implemented the launch of products into new markets, negotiated advertisement
purchases, managed and co-ordinated western U.S. sales, implemented customer
loyalty programs, developed new distribution networks and supervised and
co-ordinated the customer service, manufacturing, shipping, and purchase and
supplies departments of the company. In 1999, Mr. Blondeleau founded, and became
the President, CEO and Chairman of the Board of, Les Breuvages Alaska Inc., a
producer of spring water, carbonated water and flavoured water. Les Breuvages
Alaska Inc. was sold in April of 2005, and Mr. Blondeleau was retained as
consultant for a two year period thereafter to facilitate the transition of that
company to its new ownership. Currently, he is a consultant with FBE Solution
Inc., a company that provides consulting services to the beverage industry. Mr.
Blondeleau has a degree in business administration with a specialization in
international marketing from the University of Quebec. As a consultant to the
Company, the amount of time he devotes to the Company is dependent upon the
Company's need for his expertise, as well as the Company's phase of development
and Mr. Blondeleau's availability.

                                       20
<PAGE>

Gilles Lamarre - Vice President and Director

Mr. Lamarre, age 61,began his career as a Box Office Manager at Expo 67 (Garden
of Stars). In 1969 he joined the National Arts Centre where in 1975 he developed
the first computerized subscription/season ticketing system in North America. In
1984, he made the transition to the private sector by co-founding Uniticket to
service the Ottawa/Hull Region. Uniticket processed over 1.5 million tickets
each year and was sold to Ticketmaster Canada Inc. in 1988. He also co-founded
and developed Ticketnet Corporation in 1984, a major new national network for
ticketing and shared-resource box office management, which was subsequently sold
to AMR in 1986. Mr. Lamarre has acted as a consultant/advisor to a number of
Canadian corporations in the development and implementation of leading edge
technology and business development. More recently, he fulfilled several
executive functions with Comnetix, a leading provider of technology to law
enforcement agencies. He then became a Board member and a member of their Audit
and Compensation committees and resigned in early 2006 to concentrate his
efforts on developing a new venture related to weight loss programs and
products. He is currently the President and CEO of Wykanta International Ltd., a
company engaged in the production and sale of nutraceutical products. As Vice
President of the Company, Mr. Lamarre will be responsible for assisting the
President with the general oversight of the Company, its operations and its
communications with its shareholders. He will devote all of his time as an
employee working for the Company as Vice President and a director.

Eric Sonigo - Vice President - Production

Eric Sonigo, age 41, began his career in sales of various goods and services,
from cellular accessories to delivering luxury cars. He has been involved with
sales and scheduling during his entire career, meeting with individuals and
coordinating their various needs and corporate priorities. He has extensive
knowledge of the maintenance and running of the Company's primary oxygenation
machinery, having been involved with the original owners of that unit. Although
Mr. Sonigo is not an engineer by training, the practical knowledge garnered by
Mr. Sonigo and specific expertise gleaned from the engineers involved in the
initial oxygenation product have given Mr. Sonigo the knowledge to monitor and
maintain the production equipment, and schedule and run the production of the
Company's products. Mr. Sonigo has worked with Advanced Fluid Technologies Inc.
and has expertise in the oxygenation process. Once production commences, Mr.
Sonigo will run the oxygenation unit as a full-time employee of Global.



b) Significant Employees

None

c) Family Relationships

There are no family relationships among directors or executive officers of the
company.

                                       21
<PAGE>

d) Involvement in certain legal proceedings

None



e) Committees

The Company has no standing audit, nominating and compensating committees of the
Board of Directors or committees performing similar functions. Under the
Sarbanes-Oxley Act of 2002, each public company is required to have an audit
committee consisting solely of independent directors and to explain whether or
not any independent director is a financial expert. In the event the public
company does not have an audit committee, the Board of Directors becomes charged
with the duties of the audit committee. Since the enactment of the
Sarbanes-Oxley Act of 2002 which was signed into law by President Bush in July
2002, the Company's directors have without success, attempted to obtain
independent directors to serve on the Board of Directors and on a newly formed
audit committee. In the event the Company is successful in the future in
obtaining independent directors to serve on the Board of Directors and on a
newly formed audit committee, of which there can be no assurances given, the
Board of Directors would first adopt a written charter. Such charter would be
expected to include, among other things:
     -    annually reviewing and reassessing the adequacy of the committees
          formal charter;
     -    reviewing the annual audited financial statements with the adequacy of
          its internal accounting controls;
     -    reviewing analyses prepared by the Company's management and
          independent auditors concerning significant financial reporting issues
          and judgments made in connection with the preparation of its financial
          statements;
     -    being directly responsible for the appointment, compensation and
          oversight of the independent auditor, which shall report directly to
          the Audit Committee, including resolution of disagreements between
          management and the auditors regarding financial reporting for the
          purpose of preparing or issuing an audit report or related work;
     -    reviewing the independence of the independent auditors;
     -    reviewing the Company's auditing and accounting principles and
          practices with the independent auditors and reviewing major changes to
          its auditing and accounting principles and practices as suggested by
          the independent auditor or its management;
     -    reviewing all related party transactions on an ongoing basis for
          potential conflict of interest situations; and
     -    all responsibilities given to the Audit Committee by virtue of the
          Sarbanes-Oxley Act of 2002, which was signed into law by President
          George W. Bush on July 30, 2002.

Code of Ethics

Effective March 3, 2003, the Securities & Exchange Commission requires
registrants like the Company to either adopt a code of ethics that applies to
the Company's Chief Executive Officer and Chief Financial Officer or explain why
the Company has not adopted such a code of ethics for purposes of item 406 of
Regulations S-K, the term "code of ethics" means written standards that are
reasonably designed to deter wrong doing and to promote:
     -    Honest and ethical conduct, including the ethical handling of actual
          or apparent conflicts of interest between personal and professional
          relationships:
     -    Full, flair, accurate, timely and understandable disclosure in reports
          and documents that the company files with, or submits to, the
          Securities & Exchange Commission and in other public communications
          made by the Company;

                                       22
<PAGE>

     -    Compliance with applicable governmental law, rules and regulations;
     -    The prompt internal reporting of violations of the code to an
          appropriate person or persons identified in the code; and

     -    Accountability for adherence to the code.

The Company has adopted the aforementioned Code of Ethics.

f) Section 16 (a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires our
officers, directors and persons who beneficially own more than ten percent of a
registered class of our equity securities ("ten-percent shareholders") to file
reports of ownership and changes in ownership with the Securities and Exchange
Commission. Officers, directors and ten-percent shareholders also are required
to furnish us with copies of all Section 16(a) forms they file. Based solely on
our review of the copies of such forms furnished to us, and written
representations that no other reports were required, we believe that during the
fiscal year ended November 30, 2008, all of our officers, directors and
ten-percent shareholders complied with the Section 16(a) reporting requirements.



ITEM 10 EXECUTIVE COMPENSATION

(a) General


     None of the current or past Officers or Directors received any compensation
during fiscal 2006, 2007 or 2008.

(b) Options/SAR Grants table

None

(c) Long Term Incentive Plan Award Table

None

(d) Compensation of Directors

Directors do not receive any compensation for services as members of the Board
of Directors

(e) Employment Contracts and Termination of Employment and Change-in-Control

The company has no employment contracts with any of its executive officers. As
indicated above, certain officers received compensation.

(f) Report on Repricing of options/SAR

None

                                       23
<PAGE>

ITEM 11 SECURITY OWNERSHIP OF CERTAIN BENEFICAL OWNERS AND MANAGEMENT

The following table sets forth, as of February 27, 2009, information regarding
the beneficial ownership of our common stock based upon the most recent
information available to us for

     o    Each person known by us to own beneficially more than five (5%)percent
          of our outstanding common stock,
     o    Each of our officers and directors and
     o    All of our officers and directors as a group.

Name                                     Number Of Shares Owned      % of Total
                                         Beneficially


Jomuc Holdings                            5,800,000                   8.62%
1623 Buttonwood Bay
Belize City, Belize
(Represented by J. Muccari)

Louis Greco                               25,000                      .04%
5800 Metropolitan Blvd Est suite 328
Montreal,Quebec
President-Global Biotech


Perry Choiniere                           25,000                      .04%
5800 Metropolitan Blvd Est suite 328
Montreal,Quebec
COO/CFO-Global Biotech


All Directors and Officers                50,000                      .08%

Item 12. Certain Relationships and Related Transactions.

None


Item 13. Financial Statements and Exhibits.

(a) List of Financial statements filed herewith

GLOBAL BIOTECH CORP.
(A company in the development stage)

Report of Independent Registered Accounting Firm

Balance Sheets November 30, 2007 and 2008

Statement of Operations Year ended November 30, 2007, November 30, 2008 and from
inception to November 30, 2008

Statement of Shareholders' Equity From inception to November 30, 2008

Statement of Cash flows years ended November 30, 2007 and November 30, 2008 and
from inception to November 30, 2008

Summary of Significant Accounting Policies year ended November 30, 2008

Notes to the Financial Statements year ended November 30, 2008

                                       24
<PAGE>

(b) List of Exhibits.

Reports on Form 8-K

Material Agreement
Appointment, resignation of officers/directors


Item 14. Principal Accountant Fees and Service

Audit Fees

For the fiscal year ended November 30, 2008, the aggregate fees billed for
professional services rendered by Chang G. Park, CPA ("independent auditors")
for the audit of the Company's annual financial statements totaled approximately
$10,500.

Financial Information Systems Design and Implementation Fees

For the fiscal year ended November 30, 2008 there were $-0- in fees billed for
professional services by the Company's independent auditors rendered in
connection with, directly or indirectly, operating or supervising the operation
of its information system or managing its local area network.

All Other Fees

For the fiscal year ended November 30, 2008 there was $0 in fees billed for
other service.


Sarbane Oxley Declarations


                                   SIGNATURES

In accordance with the requirement of the Securities Exchange Act, this Annual
Report or Amendment was signed by the following persons in the capacities and on
the dates stated:



                                   GLOBAL BIOTECH CORP.


Date: February 27,2009             /s/ Louis Greco
                                   ---------------
                                   Louis Greco, President, Director
                                   (Principal Executive Officer)

                                   /s/ Perry Choiniere
                                   -------------------
                                   Perry Choiniere,
                                   (Chief Financial Officer, Director

                                       25
<PAGE>

                           Chang G. Park, CPA, Ph. D.
     o 2667 Camino Del Rio S. Plaza B o San Diego o California 92108-3707 o
       o TELEPHONE (858)722-5953 o FAX (858) 761-0341 o FAX (858) 764-5480
                         o E-MAIL changgpark@gmail.com o
--------------------------------------------------------------------------------



             Report of Independent Registered Public Accounting Firm
             -------------------------------------------------------


To the Board of Directors and Stockholders
Global Biotech Corp.


We have audited the accompanying balance sheets of Global Biotech Corp. ( A
Development Stage Company) as of November 30, 2008 and 2007 and the related
statements of operations, changes in shareholders' equity and cash flows for the
years then ended and for the period of November 2, 1998 (inception) to November
30, 2008. These financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audit.

We conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Global Biotech Corp. as of
November 30, 2008 and 2007, and the results of its operations and its cash flows
for the years then ended and the period of November 2, 1998 (inception) to
November 30, 2008 in conformity with U.S. generally accepted accounting
principles.

The financial statements have been prepared assuming that the Company will
continue as a going concern. As discussed in Note 3 to the financial statements,
the Company's losses from operations raise substantial doubt about its ability
to continue as a going concern. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.


/s/ Chang G. Park
-----------------
CHANG G. PARK, CPA

February 12, 2009
San Diego, CA. 92108



        Member of the California Society of Certified Public Accountants
          Registered with the Public Company Accounting Oversight Board

                                      F-1
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                                 Balance Sheets


             ------------------------------------------------------
                                     ASSETS

                                                     As of             As of
                                                  November 30,      November 30,
                                                     2008              2007
                                                     ----              ----

CURRENT ASSETS
Cash                                               $      6         $     --
Prepaid exp                                           7,428               --
                                                   --------         --------

Total Current Assets                                  7,434               --

Property & Equipment (net)                          605,000          605,000

                                                   --------         --------
TOTAL ASSETS                                       $612,434         $605,000
                                                   ========         ========



     See Notes to the Financial Statements

                                      F-2
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                                 Balance Sheets


             ------------------------------------------------------

                      LIABILITIES AND STOCKHOLDERS' EQUITY


                                                    As of              As of
                                                  November 30,      November 30,
                                                     2008              2007
                                                     ----              ----
CURRENT LIABILITIES

Bank Advances                                     $        --       $     2,834
Accounts payable                                       47,421            33,597
Notes payable - (related party)                        29,844             1,397
Notes Payable                                         467,902           436,534
                                                  -----------       -----------
Total Current Liabilities                             545,167           474,362



STOCKHOLDERS' EQUITY

Preferred Stock $0.0001 par value                          --                --
Authorized 80,000,000 shares
0 shares issued and outstanding as of
November 30, 2008 and November 30, 2007


Common stock $0.0001 par value, 260,000,000
Shares authorized: 67,265,500 shares issued
and outstanding as of November 30,
2008 and 67,265,500 as of November 30, 2007             6,727             6,727
Paid-in capital                                     1,346,502         1,346,502
Deficit accumulated during the development stage   (1,285,962)       (1,222,591)
                                                  -----------       -----------
Total Stockholders' EQUITY                             67,267           130,638
                                                  -----------       -----------
TOTAL LIABILITIES
& STOCKHOLDERS' EQUITY                            $   612,434       $   605,000
                                                  ===========       ===========



                      See Notes to the Financial Statements

                                      F-3
<PAGE>

<TABLE>
<CAPTION>
                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                            Statements of Operations
             ------------------------------------------------------
                                                                                     November 2, 1998
                                                                                       (Inception)
                                                Year Ended       Year Ended              through
                                                November 30,    November 30,           November 30,
                                                   2008            2007                   2008
                                                   ----            ----                   ----

<S>                                             <C>            <C>                     <C>
REVENUES                                        $        --    $        --             $   944,811

Costs of revenues                                        --             --                (603,063)
                                                -----------    -----------             -----------
GROSS PROFIT                                             --             --                 341,748

OPERATING COSTS
Bad debt expense                                         --             --                 120,844
Licensing rights                                         --             --                 700,000
Depreciation expense                                     --             --                  73,274
Marketing expense                                        --             --                 236,266
Professional fees                                    10,500         10,500                 157,924
Selling, general and
administrative expense                               25,456          5,753                 298,033

                                                -----------    -----------             -----------
Total Operating Costs                                35,956         16,253               1,586,341
                                                -----------    -----------             -----------
OPERATING (LOSS)                                    (35,956)       (16,253)             (1,244,593)

OTHER INCOME & (EXPENSES)
Interest income                                          --         12,637                 111,878
Foreign exchange gain                                 3,953             --                   3,953
Other income                                             --             --                  81,052
Interest expense                                    (31,368)       (41,459)               (275,346)
Write-down of leasehold improvements                     --             --                  (2,663)
Write-up of notes receivable, related parties            --             --                  11,435
Impairment Loss                                          --       (331,261)               (331,261)
Gain on sale of investment                               --             --                 359,583
                                                -----------    -----------             -----------
Total Other Income & (Expenses)                     (27,415)      (360,083)                (41,369)
                                                -----------    -----------             -----------

NET INCOME (LOSS)                               $   (63,371)   $  (376,336)            $(1,285,962)
                                                ===========    ===========             ===========
BASIC EARNINGS (LOSS) PER SHARE                 $     (0.00)   $     (0.01)
                                                ===========    ===========
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING                        67,265,500     54,542,212
                                                ===========    ===========
</TABLE>

                      See Notes to the Financial Statements

                                      F-4
<PAGE>

<TABLE>
<CAPTION>
                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                   Statement of Stockholders' Equity (Deficit)
           From November 2, 1998 (inception) through November 30, 2008
----------------------------------------------------------------------------------------------------------------------------
                                                                                                    (Deficit)
                                                                       Additional     Stock        Accumulated
                                                  Common      Common    Paid-in    Subscription     During the      Total
                                                  Shares      Stock     Capital     Receivable     Development
                                                                                                      Stage
----------------------------------------------------------------------------------------------------------------------------
<S>                                             <C>         <C>         <C>          <C>            <C>           <C>
  Balance, November 30, 1998                             0  $       -   $      -     $       -      $       -     $       -

  Stock issued on April 30, 2000
           for cash                             10,400,000      1,040    258,961      (103,739)                     156,262

  Stock issued on April 30, 2000
for settlement of equipment purchase               600,000         60     14,940                                     15,000

Stock issued May 29, 2000 in exchange for
5,000,000 shares of Millenia Hope, Inc.         35,700,000      3,570    125,908                                    129,478

May 31, 2000 - collection on subscription                                               20,408                       20,408

June 30, 2000 - collection on subscription                                              83,331                       83,331

Net loss for November 2, 1998 (inception)
     to November 30, 2000                                                                             (69,231)      (69,231)
----------------------------------------------------------------------------------------------------------------------------
  Balance, November 30, 2000                    46,700,000      4,670    399,809             -        (69,231)      335,248
----------------------------------------------------------------------------------------------------------------------------

  Stock issued on September 15, 2001
           for cash                                 30,000          3    119,997      (120,000)                           -

  Stock issued on November 21, 2001
           for cash                                380,000         38    189,962      (190,000)                           -

  Net loss for the year ended
       November 30, 2001                                                                               (1,679)       (1,679)
----------------------------------------------------------------------------------------------------------------------------
  Balance, November 30, 2001                    47,110,000      4,711    709,768      (310,000)       (70,910)      333,569
----------------------------------------------------------------------------------------------------------------------------

Stock issued December 5, 2001 in exchange
for payment of consulting fees                      82,500          8     16,492                                     16,500

  Stock issued May 13, 20002 in exchange
          for professional fees                    205,200         21     51,354                                     51,375

September 4, 2005 - collection on subscription                          (112,500)      112,500                            -

  Stock issued October 14, 2002 in exchange
        for payment on consulting fees              10,000          1      1,999                                      2,000

November 10, 2002 - collection on subscription                           (95,000)       95,000                            -

  Net loss for the year ended
       November 30, 2002                                                                             (141,693)     (141,693)
----------------------------------------------------------------------------------------------------------------------------
  Balance, November 30, 2002                    47,407,700      4,741    572,113      (102,500)      (212,603)      261,751
----------------------------------------------------------------------------------------------------------------------------

           Rounding                                    300                                                                -

 stock issued December 1, 2002 in exchange         250,000         25     24,975                                     25,000
        for marketing expense

February 28, 2003 - collection on subscription                                          23,750                       23,750

May 31, 2003 - collection on subscription                                               23,750                       23,750

August 31, 2003 - collection on subscription                                            23,750                       23,750

 Stock issued October 20, 2003 in exchange
          for marketing expense                    350,000         35     17,465                                     17,500

 Stock issued October 20, 2003 in exchange
            for notes payable                      257,500         26     12,849                                     12,875

November 30, 2003 - collection on subscription                                          31,250                       31,250

  Net loss for the year ended
       November 30, 2003                                                                             (715,903)     (715,903)
----------------------------------------------------------------------------------------------------------------------------
  Balance, November 30, 2003                    48,265,500      4,827    627,402             -       (928,506)     (296,277)
----------------------------------------------------------------------------------------------------------------------------

  Net loss for the year ended
       November 30, 2004                                 -          -          -             -        (12,963)      (12,963)
----------------------------------------------------------------------------------------------------------------------------
  Balance, November 30, 2004                    48,265,500      4,827    627,402             -       (941,469)     (309,240)
----------------------------------------------------------------------------------------------------------------------------

 Net income for the year ended
       November 30, 2005                                 -          -          -             -        142,417       142,417
----------------------------------------------------------------------------------------------------------------------------
  Balance, November 30, 2005                    48,265,500  $   4,827   $627,402     $       -      $(799,052)    $(166,823)
============================================================================================================================
</TABLE>

                      See Notes to the Financial Statements

                                      F-5
<PAGE>

<TABLE>
<CAPTION>
                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                  Statements of Stockholders' Equity (Deficit)
           From November 2, 1998 (inception) through November 30, 2008
             ------------------------------------------------------


<S>                                     <C>           <C>          <C>          <C>          <C>          <C>
Stock issued March 1, 2006
In exchange for services                  1,000,000          100        900             -             -       1,000

Net (loss) for the year ended
November 30, 2006                                 -            -            -           -       (47,203)    (47,203)
                                         ---------------------------------------------------------------------------
                                         49,265,500   $    4,927   $  628,302     $     -    $ (846,255)  $(213,026)
                                         ===========================================================================



Stock issued August 15, 2007
In exchange of Property & Equipment &    18,000,000        1,800      718,200           -             -     720,000
Goodwill



Net (loss) for the year ended
November 30, 2007                                 -            -            -           -      (376,336)   (376,336)
                                         ---------------------------------------------------------------------------
                                         67,265,500   $    6,727   $1,346,502   $       -   $(1,222,591)   $130,638
                                         ===========================================================================



Net (loss) for the year ended
November 30, 2008                                 -            -            -           -       (63,371)    (63,371)
                                         ---------------------------------------------------------------------------
                                         67,265,500   $    6,727   $1,346,502   $       -   $(1,285,962)   $ 67,267
                                         ===========================================================================
</TABLE>



                      See Notes to the Financial Statements

                                      F-6
<PAGE>

<TABLE>
<CAPTION>
                  GLOBAL BIOTECH CORP.
             (A Development Stage Company)
                Statements of Cash Flows
---------------------------------------------------------------------------------------------------------------------
                                                                                                     November 2, 1998
                                                                                                       (inception)
                                                              Year Ended         Year Ended              through
                                                             November 30,       November 30,           November 30,
                                                                2008               2007                   2008
                                                                ----               ----                   ----
<S>                                                          <C>                <C>                    <C>
 CASH FLOWS FROM OPERATING ACTIVITIES
 ------------------------------------

    Net income (loss)                                        $   (63,371)      $ (376,336)             $(1,285,962)
  Adjustments to reconcile net loss to net cash
  used in operating activities:
    Depreciation expense                                               -           73,274
    Common stock issued for services                                   -                -                  113,375
    Gain on sale of Investment                                         -                -                 (359,583)
  Impairment Loss                                                                 331,261                  331,261
    Write-down of leasehold improvements                               -                -                    2,663
    Write-down of notes receivable                                     -                -                  (11,435)
    Accrued interest expense - note payable                       31,368           41,459                  165,858
    Accrued interest income - notes receivable                                    (12,637)                (106,352)
  Changes in operating assets and liabilities:
    (Increase) decrease in accounts receivable & prepaids         (7,428)                                   (7,428)
    (Increase) decrease in notes receivable                                         8,741                 (461,899)
    Increase (decrease) in accounts payable                       13,824            3,410                   47,421
                                                             -----------       ----------              -----------

    Net Cash Provided by (Used in) Operating Activities          (25,607)          (4,102)              (1,498,807)

CASH FLOWS FROM INVESTING ACTIVITIES
------------------------------------
                                                                                                       -----------

     Net sale (purchase) of fixed assets                               -                -                  (60,937)
    Proceeds from sale of investment shares                            -                -                  489,061
                                                             -----------       ----------              -----------

    Net Cash Provided by (Used in) Investing Activities                -                -                  428,124

CASH FLOWS FROM FINANCING ACTIVITIES
------------------------------------
    Bank Advances                                                 (2,834)           2,834
     Issuance of common stock                                          -                -                  156,262
     Payment of common stock subscription receivable                   -                -                  206,239
     Proceeds from notes payable                                  28,447            1,185                  708,188
                                                             -----------       ----------              -----------

    Net Cash Provided by (Used in) Financing Activities           25,613            4,019                1,070,689
                                                             -----------       ----------              -----------

    Net Increase (Decrease) in Cash                                    6              (83)                       6

    Cash at Beginning of Year                                                          83                        -
                                                             -----------       ----------              -----------

    Cash at End of Year                                      $         6       $        -              $         6
                                                             ===========       ==========              ===========

    Supplemental  Cash Flow Disclosures:

    Cash paid during period for interest                     $         -       $       -
                                                               =========       ==========
    Cash paid during period for taxes                        $         -       $        -
                                                               =========       ==========

Non-Cash flows activities

Shares issued for Property & Equipment                       $         -        $ 605,000

Shares issued for Goodwill                                   $         -          115,000
Notes receivable-related party offset  with Note Payable               -          181,878
Notes receivable exchange for Goodwill                                 -          216,261
                                                             -----------       ----------
                                                             $         -       $1,118,139
                                                             ===========       ==========
</TABLE>



                      See Notes to the Financial Statements

                                      F-7
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008

NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

    GLOBAL BIOTECH CORP. (the "Company") was incorporated in the State of
Delaware on November 2, 1998 to be an Application Service provider in the
E-Health sector. On March 5, 2003 this business was sold and the Company
attempted to enter the vehicle tracking market, unsuccessfully. On February 25,
2005 that attempt was discontinued. On August 15, 2007 the Company finalized an
Agreement and acquired assets to enter the oxygenated bottled water market.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Accounting Method

The Company's policy is to use the accrual method of accounting to prepare and
present financial statements,which conforms to US generally accepted accounting
principles ("GAAP'). The company has elected a November 30 year- end.

b. Cash and Cash Equivalents

The Company considers all highly liquid investments with original maturities of
three months or less and bank indebtedness to be cash and cash equivalents.
Highly liquid investments are valued at quoted market prices.

c. Estimates and Adjustments

The preparation of financial statements in conformity with US generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates. In accordance with FASB 16 all
adjustments are normal and recurring.

d. Basis of Presentation and Considerations Related to Continued Existence
(going concern)

The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business.

                                      F-8
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008

The Company's management intends to raise additional operating funds through
operations, and debt or equity offerings. Management has yet to decide what type
of offering the Company will use or how much capital the Company will raise.
There is no guarantee that the Company will be able to raise any capital through
any type of offerings.

e. Fair Value of Financial Instruments

Fair value estimates discussed herein are based upon certain market assumptions
and pertinent information available to management as of the financial statement
preparation date. The respective carrying value of certain on-balance-sheet
financial instruments approximated their fair values of cash and accounts
payable were assumed to approximate carrying values for financial instruments
because they are short term in nature, their carrying amounts approximate fair
values, and they are payable on demand.

f. Property & Equipment

Property is stated at cost. Additions, renovations, and improvements are
capitalized. Maintenance and repairs, which do not extend asset lives, are
expensed as incurred.

g. Depreciation

Depreciation is provided on a straight-line basis over the estimated useful
lives, 5 years for tenant improvements, and 5 - 7 years for equipment.


h. Impairment of Long-Lived Assets

Long-lived assets held and used by the Company are reviewed for possible
impairment whenever events or changes in circumstances indicate the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held
and used is measured by a comparison of the carrying amount of the assets to the
estimated undiscounted cash flows, expected to be generated by the asset. If
such assets are considered to be impaired, the impairment to be recognized is
measured by the amount by which the carrying amount of the assets exceeds the
fair value of such assets. Management believes that there were no such
impairments of at November 30, 2008.

i. Revenue Recognition and Deferred Revenue

The Company's revenues recognized from inception to November 30, 2008 were
software consultation. Revenue, in respect of all services described, is
recognized on completion of services, when collectability is reasonably assured.

                                      F-9
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008



j. Foreign Currency Exchange

We record our transactions in US dollars.

Foreign currency accounts have been translated as follows:
     o    Monetary items - at exchange rates in effect at the balance sheet date
     o    Non-monetary item - at exchange rates in effect o the dates of
          transactions
     o    Revenue and expenses - at average exchange rate prevailing during the
          year.
Gains and losses arising from foreign currency translation are included in
income.

k. Earning (Loss) Per Share

The Company follows Statement of Financial Accounting Standards (SFAS) 128,
"Earning Per Share". Basic earnings (loss) per common share (EPS) calculations
are determined by dividing net income (loss) by the weighted average number of
shares of common stock outstanding during the year. Diluted earnings per common
share calculations are determined by dividing net income (loss) by the weighted
average number of common shares and dilutive common share equivalents
outstanding. During the periods presented common stock equivalents were not
considered, as their effect would be anti-dilutive.

l. Stock-Based Compensation

In December 2004, the FASB issued SFAS No. 123R, "Share Based Payment." SFAS No.
123R establishes the accounting for grants of stock options and other
transactions in which an entity exchanges its equity instruments for goods or
services. It also addresses transactions in which an entity incurs liabilities
in exchange for goods or services that are based on the fair value of the
entity's equity instruments or that may be settled by the issuance of those
equity instruments. SFAS No. 123R (1) revises SFAS No. 123, "Accounting for
Stock-Based Compensation," (2) supersedes Accounting Principles Bulletin ("APB")
Opinion No. 25, "Accounting for Stock Issued to Employees," and (3) establishes
fair value as the measurement objective for share-based payment transactions.



                                      F-10
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008


RECENT ACCOUNTING PRONOUNCEMENTS

.. In March 2008, the FASB issued SFAS No. 161, "Disclosures about Derivative
Instruments and Hedging Activities - an amendment of SFAS No. 133." This
Statement amends and expands the disclosure requirements by requiring
qualitative disclosures about objectives and strategies for using derivatives,
quantitative disclosures about fair value amounts of, and gains and losses on,
derivative instruments, and disclosures about credit risk-related contingent
features in derivative agreements. SFAS No. 161 is effective for financial
statements issued for fiscal years and interim periods beginning after November
15, 2008.

In April 2008, the FASB approved FSP FAS 142-3, "Determination of the Useful
Life of Intangible Assets." FSP FAS 142-3 amends the factors that should be
considered in developing renewal or extension assumptions used to determine the
useful life of a recognized intangible asset under SFAS No. 142, "Goodwill and
Other Intangible Assets." FSP FAS 142-3 is effective for the Company's fiscal
year beginning January 1, 2009, with early adoption prohibited.

In May 2008, the FASB approved FSP APB 14-1, "Accounting for Convertible Debt
Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash
Settlement)." FSP APB 14-1 clarifies that convertible debt instruments that may
be settled in cash upon conversion (including partial cash settlement) are not
addressed by paragraph 12 of APB Opinion No. 14, "Accounting for Convertible
Debt and Debt issued with Stock Purchase Warrants." Additionally, FSP APB 14-1
specifies that issuers of such instruments should separately account for the
liability and equity components in a manner that will reflect the entity's
nonconvertible debt borrowing rate when interest cost is recognized in
subsequent periods. FSP APB 14-1 is effective for the Company's fiscal year
beginning January 1, 2009.

In June 2008, the FASB issued FSP EITF 03-6-1, "Determining Whether Instruments
Granted in Share-Based Payment Transactions Are Participating Securities." FSP
EITF 03-6-1 addresses whether instruments granted in share-based payment
transactions are participating securities prior to vesting and, therefore, need
to be included in computing earnings per share under the two-class method
described in SFAS No. 128, "Earnings Per Share." FSP EITF 03-6-1 requires
companies to treat unvested share-based payment awards that have non-forfeitable
rights to dividend or dividend equivalents as a separate class of securities in
calculating earnings per share. FSP EITF 03-6-1 will be effective for the
Company's fiscal year beginning January 1, 2009, with early adoption prohibited.

The adoption of these new Statements is not expected to have a material effect
on the Company's current financial position, results of operations, or cash
flows.

                                      F-11
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008



NOTE 3. GOING CONCERN

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. The Company generated net losses of
$63,371 for the year ended November 30, 2008 and a net loss of $1,285,962 during
the period from November 2, 1998 (inception) through November 30, 2008. At
November 30, 2008 the Company had negative working capital of $537,733 and
stockholders' equity of $67,267. This condition raises substantial doubt about
the Company's ability to continue as a going concern. The Company's continuation
as a going concern is dependent on its ability to meet its obligations, to
obtain additional financing as may be required and ultimately to attain
profitability. The financial statements do not include any adjustments that
might result from the outcome of this uncertainty.

The officers and directors are committed to help in raising funds to fill any
operating cash flow shortages during the next fiscal year until the organization
can generate sufficient funds from operations to meet current operating expenses
and overhead, although there are no guarantees that this commitment will be met.



                                      F-12
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008



NOTE 4. PROPERTY & EQUIPMENT

On August 15, 2007 the Company acquired Oxygenation Equipment with a cost of
$605,000 in exchange for common shares (see Note 8 & 10).

                                            November 30,     November 30,
                                                    2008             2007
                                                    ----             ----
         Oxygenation equipment                 $ 605,000        $ 605,000

                                               ---------        ---------
         Less Accumulated Depreciation                --               --
                                               ---------        ---------
         Net Property and Equipment            $ 605,000        $ 605,000
                                               =========        =========

The Oxygenation Unit will be utilized, starting March/April 2009. The Company
will then start depreciating it over its estimated useful life of 7 years on the
straight line.



                                      F-13
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008


NOTE 5. BASIC & DILUTED INCOME / (LOSS) PER COMMON SHARE

Basic gain (loss) per common share has been calculated based on the weighted
average number of shares of common stock outstanding during the period. Diluted
gain (loss) per common share has been calculated based on the weighted average
number of shares of common and preferred stock outstanding during the period.

                                                 November 30,     November 30,
                                                    2008             2007
                                                 ------------------------------
Net income (loss) from operations                $    (63,371)    $   (376,336)

Basic income / (loss) per share                  $      (0.00)    $      (0.01)
                                                 ==============================
Weighed average number of shares outstanding       67,265,500       54,542,212
                                                 ==============================

NOTE 6. NOTES PAYABLE

Note payable as of November 30, 2008, 2007 consist of the following:

                                                    2008               2007

                                                  ---------------------------

Note payable to Millenia Hope, Inc. unsecured,
with annual interest rate 7%.
                                                  $ 467,902         $ 436,534
                                                  ---------         ---------



NOTE 7. INCOME TAXES

Income taxes are provided in accordance with Statement of Financial Accounting
Standards No. 109 (SFAS 109), Accounting for Income Taxes. A deferred tax asset
or liability is recorded for all temporary differences between financial and tax
reporting and net operating loss carry-forwards. Deferred tax expense (benefit)
results from the net change during the year of deferred tax assets and
liabilities.

                                      F-14
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008


The net operating loss expires twenty years from the date the loss was incurred.
In accordance with SFAS 109 paragraph 18 the Company has reduced its deferred
tax benefit asset by a valuation allowance due to negative evidence that has
caused the Company to feel it is more likely than not that some portion or the
entire deferred tax asset will not be realized. No portion of the valuation
allowance will be allocated to reduce goodwill or other non-current intangible
asset of an acquired entity. There are no temporary differences or carry-forward
tax effects that would significantly effect the Companies deferred tax asset.


Utilization of the net operating losses and credit carry-forwards may be subject
to a substantial annual limitation due to the "change in ownership" provisions
of the Internal Revenue Code of 1986. The annual limitation may result in the
expiration of net operating losses and credits before utilization. None of the
valuation allowance recognized was allocated to reduce goodwill or other
non-current intangible assets of an acquired entity or directly to contributed
capital At November 30, 2008 the Company had net operating losses carry-forward
of $1,285,962. The tax benefits resulting for these losses have been estimated
as follows:



                                                        November 30, 2008
                                                        -----------------
Gross income tax benefit                                   $   430,000
Valuation allowance                                            430,000
                                                           -----------
Net income tax benefit                                     $         0
                                                           ===========

Deficit - December 1, 2007                                  (1,222,591)
Net Loss for Year ended November 30, 2008                      (63,371)
                                                           -----------
Deficit - November 30, 2008                                $(1,285,962)
                                                           ===========

..

NOTE 8. STOCK TRANSACTIONS

Transactions, other than employees' stock issuance, are in accordance with
paragraph 8 of SFAS 123. Thus issuances shall be accounted for based on the fair
value of the consideration received. Transactions with employees' stock issuance
are in accordance with paragraphs (16-44) of SFAS 123. These issuances shall be
accounted for based on the fair value of the consideration received or the fair
value of the equity instruments issued, or whichever is more readily
determinable.

                                      F-15
<PAGE>

                              GLOBAL BIOTECH CORP.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                             As of November 30, 2008


On August 15, 2007 the Company issued 18,000,000 shares of common stock in
settlement of Property & Equipment of $605,000 and goodwill of $115,000, a total
of $720,000

As of November 30, 2008 the Company had 67,265,500 shares of common stock issued
and outstanding



NOTE 9. STOCKHOLDERS' EQUITY

The stockholders' equity section of the Company contains the following classes
of capital stock as of November 30, 2008 and 2007:

Common stock, $ 0.0001 par value; 260,000,000 shares and 70,000,000 shares
authorized November 30, 2008 and 2007: 67,265,500 shares issued and outstanding
as of November 30, 2008 and 2007.

Preferred Stock, $0.0001 par value; 80,000,000 shares authorized as November 30,
2008 and zero (0) shares authorized as of November 30, 2007. Zero (0) shares
issued and outstanding as of November 30, 2008 and 2007.

NOTE 10. SIGNIFICANT EVENTS

On August 15, 2007 the Company finalized an agreement with Advanced Fluid
Technologies (AFT) to purchase their to be patented oxygenation unit and all
technical know how, intellectual properties, methodologies and all information
pertaining to the following: the fixation of the oxygen molecule to water or any
other fluid and/or to the building and maintenance of the oxygenation unit.
Furthermore, all trademarks for the name AquaBoost Oxygenated Water, currently
in force in the U.S., Canada, and Mexico and the right to use and register said
name globally, were transferred to the Company.

Purchase price, for all the aforementioned assets, is a combination of debt this
being the $ 216,261 due by AFT to the Company in a note payable as of August 26,
2005, and 18 million newly issued shares of the Company's common stock, valued
at $0.04 per share or $720,000. The Company recorded $605,000 as equipment and
$331,261 as good will at that time. The company wrote off the good will at
August 31, 2007, due to the lack of certainty of the commercialization-potential
of this oxygenation- process.

Pursuant to the above stock issuance to Advanced Fluid Technologies, the assets
listed in the Agreement were transferred to the Company.

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