----

----

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

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

| NEVADA                                                                  |   | 000-31343                  |   | 36-4567500                            |
|-------------------------------------------------------------------------|--------|----------------------------|--------|---------------------------------------|
| (State      or other jurisdiction ofincorporation      or organization) |   | (Commission      File No.) |   | (IRS      Employee IdentificationNo.) |

----

|                                   |         |
|----------------------------------------|--------------|
| PART I      FINANCIAL INFORMATION |    |   |
|                                   |         |   |
| Item 1.                           |         | Financial      Statements |   |   |
|                                   |         |   |
|                                   |         | Balance      Sheets as at February 28, 2009 (unaudited) and August 31,    2008 |   |   |
|                                   |         |   |
|                                   |         | Statements      of Operations (unaudited) for the three and six months ended February 28,      2009 and February 29,  2008 |   |   |
|                                   |         |   |
|                                   |         | Statements      of Cash Flows (unaudited) for the six months ended February 28, 2009      andFebruary      29, 2008 |   |   |
|                                   |         |   |
|                                   |         | Notes      to Financial Statements (unaudited) |   |   |
|                                   |         |   |
| Item 2.                           |         | Management      Discussion and Analysis of Financial Condition and Results of      Operations. |   |   |
|                                   |         |   |
| Item 3.                           |         | Quantitative      and Qualitative Disclosures About Market Risk. |   |   |
|                                   |         |   |
| Item 4T.                          |         | Controls      and Procedures. |   |   |
|                                   |         |
| PART II      OTHER INFORMATION    |         |   |
|                                   |         |   |
| Item 1.                           |         | Legal      Proceedings. |   |   |
|                                   |         |   |
| Item 1A.                          |         | Risk      Factors. |   |   |
|                                   |         |   |
| Item 2.                           |         | Unregistered      Sales of Equity Securities and Use of Proceeds. |   |   |
|                                   |         |   |
| Item 3.                           |         | Defaults      Upon Senior Securities. |   |   |
|                                   |         |   |
| Item 4.                           |         | Submission      of Matters to a Vote of Security Holders. |   |   |
|                                   |         |   |
| Item 5.                           |         | Other      Information. |   |   |
|                                   |         |   |
| Item 6.                           |         | Exhibits. |   |   |
|                                   |         |
| Signatures.                            |         |   |

----

| FINANCIAL      REPORTS |
|------------------------|
| AT                     |
| FEBRUARY      28, 2009 |

----

| GLOBAL      EARTH ENERGY, INC.(FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)(A      NEVADA CORPORATION)Buffalo,      New York                       |
|---------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                              |
| TABLE      OF CONTENTS                                                                                                                            |
|                                                                                                                                              |
| Consolidated      Balance Sheets at February 29, 2009 (Unaudited) and  August      31, 2008                                             | 1 |
|                                                                                                                                              |   |
| Consolidated      Statements of Operations for the Three and Six Months Ended  February      28, 2009 and February 29, 2008 (Unaudited) | 2 |
|                                                                                                                                              |   |
| Consolidated      Statements of Cash Flows for the Six Months Ended February      28, 2009 and February 29, 2008 (Unaudited)                 | 3 |
|                                                                                                                                              |   |
| Notes      to Consolidated Financial Statements                                                                                                   | 4 -      6 |
|                                                                                                                                              |   |

----

| GLOBAL      EARTH ENERGY, INC.                                                                                                                                                                                                                                     |   |              |       |   |            |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|------------|--------|-----------------|--------|
| (FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)                                                                                                                                                                                                                       |   |              |       |   |            |   |
| (A      NEVADA CORPORATION)                                                                                                                                                                                                                                        |   |              |       |   |            |   |
| Buffalo,      New York                                                                                                                                                                                                                                             |   |              |       |   |            |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |
| CONSOLIDATED      BALANCE SHEETS                                                                                                                                                                                                                                   |   |              |       |   |            |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |
|                                                                                                                                                                                                                                                               |   | (Unaudited)       |       |   |            |   |
|                                                                                                                                                                                                                                                               |   | February      28, |       |   | August      31, |   |
|                                                                                                                                                                                                                                                               |   | 2009              |       |   | 2008            |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |
| ASSETS                                                                                                                                                                                                                                                             |   |              |       |   |            |   |
| Current      Assets                                                                                                                                                                                                                                                |   |              |       |   |            |   |
| Cash      and Cash Equivalents                                                                                                                                                                                                                                     |   | $                 | 263        |   |            | $      | 1,009 |   |
| Prepaid      Expenses                                                                                                                                                                                                                                              |   |              | 8,000      |   |            |   | –– |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Total      Assets                                                                                                                                                                                                                                                  |   | $                 | 8,263      |   |            | $      | 1,009 |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' DEFICIT                                                                                                                                                                                                                         |   |              |       |   |            |   |   |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Current      Liabilities                                                                                                                                                                                                                                           |   |              |       |   |            |   |   |   |
| Accrued      Expenses                                                                                                                                                                                                                                              |   | $                 | 65,451     |   |            | $      | 70,752 |   |
| Accrued      Compensation - Directors                                                                                                                                                                                                                              |   |              | 1,345,264  |   |            |   | 976,811 |   |
| Due      to Directors                                                                                                                                                                                                                                              |   |              | 395,615    |   |            |   | 350,435 |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Total      Liabilities                                                                                                                                                                                                                                             |   |              | 1,806,330  |   |            |   | 1,397,998 |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Stockholders'      Deficit                                                                                                                                                                                                                                         |   |              |       |   |            |   |   |   |
| Common      Stock :  $.001 Par; 800,000,000 Shares    Authorized;                                                                                                                                                                                        |   |              |       |   |            |   |   |   |
| 26,983,403      and 26,483,403 Issued and      23,983,403                        and  23,483,403,      Outstanding, Respectively |   |              | 23,983     |   |            |   | 23,483 |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Common      Stock, Class B:  $.001 Par; 50,000,000 Shares                                                                                                                                                                                                |   |              |       |   |            |   |   |   |
|         Authorized;      -0- Issued and Outstanding                                                                                                                                                                        |   |              | —    |   |            |   | –– |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Preferred      Stock, Class A:  $.001 Par; 1,000,000 Shares      Authorized;                                                                                                                                                                             |   |              |       |   |            |   |   |   |
|          66,000      and 100,000 Issued and Outstanding, respectively                                                                                                                                                 |   |              | 66         |   |            |   | 66 |   |
| Preferred      Stock, Class B:  $.001 Par; 5,000,000 Shares      Authorized;                                                                                                                                                                             |   |              |       |   |            |   |   |   |
|         1,000,000      Issued and Outstanding                                                                                                                                                                              |   |              | 1,000      |   |            |   | 1,000 |   |
| Preferred      Stock, Class C:  $.001 Par; 15,000,000 Shares                                                                                                                                                                                             |   |              |       |   |            |   |   |   |
|         Authorized;  -0-      Issued and Outstanding                                                                                                                                                             |   |              | —    |   |            |   | –– |   |
| Preferred      Stock, Class D:  $.001 Par;  13,000,000      Shares                                                                                                                                                                             |   |              |       |   |            |   |   |   |
|         Authorized;  -0-      Issued and Outstanding                                                                                                                                                             |   |              | —    |   |            |   | –– |   |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Additional      Paid-In Capital                                                                                                                                                                                                                                    |   |              | 4,339,120  |   |            |   | 4,256,820 |   |
| Accumulated      Deficit                                                                                                                                                                                                                                           |   |              | (6,159,236 | )      |            |   | (5,675,358 | ) |
| Treasury      Stock – 3,000,000 Shares at $.001 Par                                                                                                                                                                                                          |   |              | (3,000     | )      |            |   | (3,000 | ) |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Total      Stockholders' Deficit                                                                                                                                                                                                                                   |   |              | (1,798,067 | )      |            |   | (1,396,989 | ) |
|                                                                                                                                                                                                                                                               |   |              |       |   |            |   |   |   |
| Total      Liabilities and Stockholders' Deficit                                                                                                                                                                                                                   |   | $                 | 8,263      |   |            | $      | 1,009 |   |

----

| GLOBAL      EARTH ENERGY, INC.                         |   |
|--------------------------------------------------------|--------|
| (FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)           |   |
| (A      NEVADA CORPORATION)                            |   |
| Buffalo,      New York                                 |   |
|                                                   |   |
| CONSOLIDATED      STATEMENTS OF OPERATIONS (UNAUDITED) |   |
|                                                   |   |
|                                                   |   |   |   |   |   |   |
|                                                   |   | Three      Months Ended |   |   | Six      Months Ended |   |
|                                                   |   | February      28, |   |   | February      29, |   |   | February      28, |   |   | February      29, |   |
|                                                   |   | 2009 |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues,      Net                                     |   | $ | — |   |   | $ | — |   |   | $ | — |   |   | $ | — |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost      of Goods Sold                                |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross      Profit                                      |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Compensation      Expense – Stock Options        |   |   | –– |   |   |   | –– |   |   |   | 2,800 |   |   |   | –– |   |
| Consulting      Fees                                   |   |   | 183,500 |   |   |   | 147,500 |   |   |   | 367,000 |   |   |   | 300,000 |   |
| General      and Administrative                        |   |   | 23,138 |   |   |   | 30,963 |   |   |   | 47,595 |   |   |   | 87,812 |   |
| Interest      Expense                                  |   |   | 35,479 |   |   |   | 18,434 |   |   |   | 66,483 |   |   |   | 36,297 |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Expenses                                    |   |   | 242,117 |   |   |   | 196,897 |   |   |   | 483,878 |   |   |   | 424,109 |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss      from Operations Before                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Provision      for Taxes                   |   |   | (242,117 | ) |   |   | (196,897 | ) |   |   | (483,878 | ) |   |   | (424,109 | ) |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for Taxes                               |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Loss for the Period                           |   | $ | (242,117 | ) |   | $ | (196,897 | ) |   | $ | (483,878 | ) |   | $ | (424,109 | ) |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      Average Number of                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Common      Shares Outstanding -           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Basic                                      |   |   | 23,983,403 |   |   |   | 23,448,791 |   |   |   | 23,983,403 |   |   |   | 22,995,087 |   |
|   Diluted                                    |   |   | 26,983,403 |   |   |   | 26,448,791 |   |   |   | 26,983,403 |   |   |   | 25,995,087 |   |
| Net      Loss Per Common Share -                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Basic                                      |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | (0.02 | ) |   | $ | (0.02 | ) |
|   Diluted                                    |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | (0.02 | ) |   | $ | (0.02 | ) |
|                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

| GLOBAL      EARTH ENERGY, INC.                             |   |   |           |   |   |   |
|------------------------------------------------------------|--------|--------|----------------|--------|--------|--------|
| (FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)               |   |   |           |   |   |   |
| (A      NEVADA CORPORATION)                                |   |   |           |   |   |   |
| Buffalo,      New York                                     |   |   |           |   |   |   |
|                                                       |   |   |           |   |   |   |
| CONSOLIDATED      STATEMENTS OF CASH FLOWS (UNAUDITED)     |   |   |           |   |   |   |
|                                                       |   |   |           |
| For      the Six Months Ended February 28 and February 29, |   | 2009   |           |   | 2008   |   |
|                                                       |   |   |           |   |   |   |
| Cash      Flows from Operating Activities                  |   |   |           |   |   |   |
|                                                       |   |   |           |   |   |   |
| Net      Loss                                              |   | $      | (483,878       | )      |   | $      | (424,109 | ) |
|                                                       |   |   |           |   |   |   |   |   |
| Non-Cash      Adjustments:                                 |   |   |           |   |   |   |   |   |
| Interest      on Directors/Stockholder Loans               |   |   | 16,260         |   |   |   | 36,297 |   |
| Common      Stock Issued in Exchange for Services Rendered |   |   | 80,000         |   |   |   | –– |   |
| Compensation      Expense – Stock Options            |   |   | 2,800          |   |   |   | –– |   |
|                                                       |   |   |           |   |   |   |   |   |
| Changes      in Assets and Liabilities:                    |   |   |           |   |   |   |   |   |
| Prepaid      Expenses                                      |   |   | (8,000         | )      |   |   | –– |   |
| Accounts      Payable                                      |   |   | –– |   |   |   | 5,199 |   |
| Accrued      Expenses                                      |   |   | (5,301         | )      |   |   | (6,379 | ) |
| Accrued      Compensation - Directors                      |   |   | 368,453        |   |   |   | 126,997 |   |
|                                                       |   |   |           |   |   |   |   |   |
| Net      Cash Flows from Operating Activities              |   |   | (29,666        | )      |   |   | (261,995 | ) |
|                                                       |   |   |           |   |   |   |   |   |
| Cash      Flows from Investing Activities                  |   |   | –– |   |   |   | –– |   |
|                                                       |   |   |           |   |   |   |   |   |
| Cash      Flows from Financing Activities                  |   |   |           |   |   |   |   |   |
| Cash      Proceeds from Issuance of Regulation S Shares    |   |   | –– |   |   |   | 153,982 |   |
| Advances      from (Repayment to)Directors - Net           |   |   | 28,920         |   |   |   | (73,832 | ) |
|                                                       |   |   |           |   |   |   |   |   |
| Net      Cash Flows from Financing Activities              |   |   | 28,920         |   |   |   | 80,150 |   |
|                                                       |   |   |           |   |   |   |   |   |
| Net      Change in Cash and Cash Equivalents               |   |   | (746           | )      |   |   | (181,845 | ) |
|                                                       |   |   |           |   |   |   |   |   |
| Cash      and Cash Equivalents - Beginning of Period       |   |   | 1,009          |   |   |   | 197,593 |   |
|                                                       |   |   |           |   |   |   |   |   |
| Cash      and Cash Equivalents - End of Period             |   | $      | 263            |   |   | $      | 15,748 |   |
|                                                       |   |   |           |   |   |   |   |   |
| Supplemental      Disclosures                              |   |   |           |   |   |   |   |   |
| Interest      Paid                                         |   | $      | —        |   |   | $      | — |   |
| Income      Taxes Paid                                     |   | $      | —        |   |   | $      | — |   |

|   | -      continued - |
|--------|--------------------|

----

----

| NOTE A – | Basis      of Presentation |
|----------------|----------------------------|

|   | The      condensed consolidated financial statements of Global Earth Energy, Inc.      (the “Company”) included herein have been prepared by the Company, without      audit, pursuant to the rules and regulations of the Securities and      Exchange Commission (the “SEC”).  Certain information and      footnote disclosures normally included in financial statements prepared in      conjunction with generally accepted accounting principles have been      condensed or omitted pursuant to such rules and regulations, although the      Company believes that the disclosures are adequate to make the information      presented not misleading. These condensed consolidated financial      statements should be read in conjunction with the annual audited financial      statements and the notes thereto included in the Company’s registration      statement on Form 10-KSB, and other reports filed with the      SEC. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The      accompanying unaudited interim financial statements reflect all      adjustments of a normal and recurring nature which are, in the opinion of      management, necessary to present fairly the financial position, results of      operations and cash flows of the Company for the interim periods      presented.  The results of operations for these periods are not      necessarily comparable to, or indicative of, results of any other interim      period or for the fiscal year taken as a whole.  Certain      information that is not required for interim financial reporting purposes      has been omitted. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The      Company has changed its primary business objective from advisory services      to the biodiesel production industry.  Consequently, the Company      changed their name on February 5, 2008 to Global Earth Energy,      Inc. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Principles      of Consolidation |
|--------|----------------------------------|

|   | The      consolidated financial statements include the accounts of Global Earth      Energy, Inc., and its wholly owned subsidiary, Knightbridge Corp. (the      “Company”).  All significant intercompany balances have been      eliminated in consolidation. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| NOTE B – | Going      Concern |
|---------------------|--------------------|

|   | The      Company’s consolidated 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. The Company has reported recurring losses from      operations.  As a result, there is an accumulated deficit of      $6,159,236 at February 28, 2009. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The      Company’s continued existence is dependent upon its ability to raise      capital or acquire a marketable company.  The consolidated      financial statements do not include any adjustments that might be      necessary should the Company be unable to continue as a going      concern. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| NOTE C – | Recently      Issued Accounting Standards |
|---------------------|-------------------------------------------|

|   | In      September 2006, the Financial Accounting Standards Board (“FASB”) issued      Statement of Financial Accounting Standard (“SFAS”) No. 157, "Fair Value      Measurements”.  SFAS 157 defines fair value, establishes a      framework for measuring fair value, and expands disclosures about fair      value measurements.  SFAS 157 is effective as of the beginning      of the first fiscal year that begins after November 15,      2007.  As such, the Company is required to adopt these      provisions at the beginning of the fiscal year ended August, 2009. The      adoption of SFAS 157 did not have a material effect on the consolidated      financial statements. In February 2007, the Financial Accounting      Standards Board (“FASB”) issued Statement of Financial Accounting Standard      (“SFAS”) No. 159, "The Fair Value Option for Financial Assets and      Financial Liabilities, including an amendment of FASB Statement No.      115”.  SFAS 159 permits entities to choose to measure many      financial instruments and certain other items at fair value at specified      election dates.  This Statement applies to all entities,      including not-for-profit organizations.  SFAS 159 is effective      as of the beginning of an entity’s first fiscal year that begins after      November 15, 2007.  As such, the Company is required to adopt      these provisions at the beginning of the fiscal year ended August,      2009.  The      adoption of SFAS 159 did not have a material effect on the consolidated      financial statements. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In      December 2007, the Financial Accounting Standards Board issued Statement      of Financial Accounting Standard (“SFAS”) No. 160, "Noncontrolling      Interests in Consolidated Financial Statements, an amendment of ARB No.      51”.  SFAS 160 establishes accounting and reporting standards      for the noncontrolling interest in a subsidiary and for the      deconsolidation of a subsidiary.  SFAS 160 is effective for      fiscal years, and interim periods within those fiscal years, beginning on      or after December 15, 2008.  As such, the Company is required to      adopt these provisions at the beginning of the fiscal year ended August,      2010.  The Company is currently evaluating the impact of SFAS      160 on its consolidated financial statements but does not expect it to      have a material effect. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | -      continued - |
|--------|--------------------|

----

----

| NOTE C – | Recently      Issued Accounting Standards –continued |
|---------------------|------------------------------------------------------------|

|   | In      December 2007, the Financial Accounting Standards Board issued Statement      of Financial Accounting Standard (“SFAS”) No. 141(R), "Business      Combinations”.  SFAS 141(R) establishes principles and      requirements for how the acquirer recognizes and measures in its financial      statements the identifiable assets acquired, the liabilities assumed, an      any noncontrolling interest in the acquiree, recognizes and measures the      goodwill acquired in the business combination or a gain from a bargain      purchase, and determines what information to disclose to enable users of      the financial statements to evaluate the nature and financial effects of      the business combination.  SFAS 141(R) is effective for fiscal      years, and interim periods within those fiscal years, beginning on or      after December 15, 2008.  As such, the Company is required to      adopt these provisions at the beginning of the fiscal year ended August,      2010.  The Company is currently evaluating the impact of SFAS      141(R) on its consolidated financial statements but does not expect it to      have a material effect. In      March 2008, the Financial Accounting Standards Board (“FASB”) issued      Statement of Financial Accounting Standard (“SFAS”) No. 161, "Disclosures about Derivative      Instruments and Hedging Activities—an amendment of FASB Statement No.      133”.  SFAS 161 requires enhanced disclosures about an      entity’s derivative and hedging activities.  SFAS 161 is      effective for financial statements issued for fiscal years and interim      periods beginning after November 15, 2008 with early application      encouraged.  The      adoption of SFAS 161 did not have a material effect on the consolidated      financial statements. In      May 2008, the Financial Accounting Standards Board issued Statement of      Financial Accounting Standard (“SFAS”) No. 162, "The Hierarchy of Generally      Accepted Accounting Principles”.  SFAS 162 identifies the      sources of accounting principles and the framework for selecting the      principles used in the preparation of financial statements of      nongovernmental entities that are presented in conformity with generally      accepted accounting principles (GAAP) in the United      States.  SFAS 162 is effective 60 days following the SEC’s      approval of the Public Company Accounting Oversight Board amendments to AU      Section 411, The Meaning of Present Fairly in Conformity With Generally      Accepted Accounting Principles. The Company is currently evaluating the      impact of SFAS 162 on its consolidated financial statements but does not      expect it to have a material effect. In      May 2008, the Financial Accounting Standards Board (“FASB”) issued      Statement of Financial Accounting Standard (“SFAS”) No. 163, "Accounting for Financial      Guarantee Insurance Contracts—an interpretation of FASB Statement No.      60" (“SFAS 163”).  SFAS 163 interprets Statement 60 and      amends existing accounting pronouncements to clarify their application to      the financial guarantee insurance contracts included within the scope of      that Statement.  SFAS 163 is effective for financial statements      issued for fiscal years beginning after December 15, 2008, and all interim      periods within those fiscal years.  As such, the Company is      required to adopt these provisions at the beginning of the fiscal year      ended August, 2010.  The Company is currently evaluating the      impact of SFAS 163 on its consolidated financial statements but does not      expect it to have a material effect.  |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| NOTE D – | Share ActivityStock      OptionsIn      December 2004, the Financial Accounting Standards Board (“FASB”) issued      SFAS No. 123R, Share-Based Payment      (“SFAS No. 123R”).  SFAS No. 123R establishes standards for the      accounting for 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 focuses primarily on accounting for      transactions in which an entity obtains employee services in share-based      payment transactions.  SFAS No. 123R requires that the      compensation cost relating to share-based payment transactions be      recognized in the financial statements.  That cost will be      measured based on the fair value of the equity or liability instruments      issued. |
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|   | The      Company’s accounting policy for equity instruments issued to consultants      and vendors in exchange for goods and services follows the provisions of      EITF 96-18, “Accounting for Equity Instruments That are Issued to Other      Than Employees for Acquiring, or in Conjunction with Selling, Goods or      Services” and EITF 00-18, “Accounting Recognition for Certain Transactions      Involving Equity Instruments Granted to Other Than      Employees.”  The measurement date for the fair value of the      equity instruments issued is determined at the earlier of (i) the      date at which a commitment for performance by the consultant or vendor is      reached or (ii) the date at which the consultant or vendor’s      performance is complete. In the case of equity instruments issued to      consultants, the fair value of the equity instrument is recognized over      the term of the consulting agreement.  Stock-based compensation      related to non-employees is accounted for based on the fair value of the      related stock or options or the fair value of the services, which ever is      more readily determinable in accordance with SFAS  123(R). |
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|   | On      October 18, 2008 the Company approved the granting of stock options to its      CFO of 40,000 Class A Preferred StockShares. |
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|   | The      following table provides the range of assumptions used by the Company, at      the time stock options were issued. |
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|   | For      the quarter ended November 30, 2008, $2,800 was expensed utilizing the      Black-Scholes option pricing model.  The following      weighted-average assumptions were used for the grants    issued: |
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|   | Dividend      Yield                                              0.00% |
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|   | Expected      Volatility                                       235.24% |
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|   | Discount      Rate                                               3.91% |
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|   | Option      Life                                               10      Years |
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|   | Common      StockOn September      25, 2008 a stockholder that is closely related to Betty-Ann and Sydney      Harland received 400,000 shares of regulation 144 common      stock.  This stock was to reimburse the stockholder for 400,000      shares that he gave to the company on August 27, 2008 to pay the Company’s      Consultant. |
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|   | On      August 31, 2008 the Company entered into an agreement with Larry Ricci      (Contractor).  Pursuant to the agreement the Contractor agrees      to assist the Company in identifying and researching potential      acquisitions for the Company’s subsidiary Knightbridge      Corp.  The term of the contract is for one year, expiring on      August 31, 2009.  In consideration for his services, the      Contractor received 100,000 common shares on August 31,    2008. |
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|                                 | Global      Earth Energy, Inc. |
|--------------------------------------|--------------------------------|
|                                 |                           |
| Date:      April 14,  2009 | By:                  | /s/ Sydney A.      Harland   |
|                                 |                           | Sydney      A. Harland |
|                                 |                           | Chief      Executive Officer   |
|                                 |                           | /s/ Edmund J.      Gorman   |
|                                 |                           | Edmund      J. GormanChief      FinancialOfficer |