----

----

| 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 November 30, 2008 (unaudited) and August 31, 2008      (Restated) |        1 |   |
|                                   |           |   |
|                                   |           | Consolidated      Statements of Operations for the Three Months Ended November 30, 2008 and      2007 (Unaudited) (Restated) |        2 |   |
|                                   |           |   |
|                                   |           | Consolidated      Statements of Cash Flows  for the three months ended November      30, 2008 and 2007 (Unaudited) (Restated) |   3 |   |
|                                   |           |   |
|                                   |           | Notes      to Consolidated Financial Statements |   4 |   |
|                                   |           |   |
| Item 2.                           |           | Management      Discussion and Analysis of Financial Condition and Results of      Operations. |   8 |   |
|                                   |           |   |
| Item 3.                           |           | Quantitative      and Qualitative Disclosures About Market Risk. |   11 |   |
|                                   |           |   |
| Item 4T.                          |           | Controls      and Procedures. |   11 |   |
|                                   |           |
| PART II      OTHER INFORMATION    |   12 |   |
|                                   |           |   |
| Item 1.                           |           | Legal      Proceedings. |   12 |   |
|                                   |           |   |
| Item 1A.                          |           | Risk      Factors. |   12 |   |
|                                   |           |   |
| Item 2.                           |           | Unregistered      Sales of Equity Securities and Use of Proceeds. |   12 |   |
|                                   |           |   |
| Item 3.                           |           | Defaults      Upon Senior Securities. |   12 |   |
|                                   |           |   |
| Item 4.                           |           | Submission      of Matters to a Vote of Security Holders. |   12 |   |
|                                   |           |   |
| Item 5.                           |           | Other      Information. |        12 |   |
|                                   |           |   |
| Item 6.                           |           | Exhibits. |        12 |   |
|                                   |           |
| Signatures.                            |   13 |   |

----

| FINANCIAL      REPORTS |
|------------------------|
| AT                     |
| November      30, 2008 |

----

| GLOBAL      EARTH ENERGY, INC.  (FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)  (A      NEVADA CORPORATION)  Buffalo,      New York   TABLE      OF CONTENTS |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                            |   |
| Consolidated      Balance Sheets at November 30, 2008 (Unaudited) and August      31, 2008 (Restated)                                                 | 1      |
|                                                                                                                                                            |   |
| Consolidated      Statements of Operations for the Three Months Ended November      30, 2008 and 2007 (Unaudited)(Restated)                                | 2      |
|                                                                                                                                                            |   |
| Consolidated      Statements of Cash Flows for the Three Months Ended November      30, 2008 and 2007 (Unaudited) (Restated)                               | 3      |
|                                                                                                                                                            |   |
| Notes      to Consolidated Financial Statements                                                                                                                 | 4-7    |

----

|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|----------------|--------|-----------------|--------|
| GLOBAL      EARTH ENERGY, INC.                                                                                                                                                                                                                                            |   |              |           |   |            |   |
| (FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)                                                                                                                                                                                                                              |   |              |           |   |            |   |
| (A      NEVADA CORPORATION)                                                                                                                                                                                                                                               |   |              |           |   |            |   |
| Buffalo,      New York                                                                                                                                                                                                                                                    |   |              |           |   |            |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |
| CONSOLIDATED      BALANCE SHEETS                                                                                                                                                                                                                                          |   |              |           |   |            |   |
|                                                                                                                                                                                                                                                                      |   | (Unaudited)       |           |   |            |   |
|                                                                                                                                                                                                                                                                      |   | (Restated)        |           |   | (Restated)      |   |
|                                                                                                                                                                                                                                                                      |   | November      30, |           |   | August      31, |   |
|                                                                                                                                                                                                                                                                      |   | 2008              |           |   | 2008            |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |
| ASSETS                                                                                                                                                                                                                                                                    |   |              |           |   |            |   |
| Current      Assets                                                                                                                                                                                                                                                       |   |              |           |   |            |   |
| Cash      and Cash Equivalents                                                                                                                                                                                                                                            |   | $                 | 263            |   |            | $      | 1,009 |   |
| Prepaid      Expenses                                                                                                                                                                                                                                                     |   |              | 44,000         |   |            |   | –– |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Total      Assets                                                                                                                                                                                                                                                         |   | $                 | 44,263         |   |            | $      | 1,009 |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' DEFICIT                                                                                                                                                                                                                                |   |              |           |   |            |   |   |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Current      Liabilities                                                                                                                                                                                                                                                  |   |              |           |   |            |   |   |   |
| Accrued      Expenses                                                                                                                                                                                                                                                     |   | $                 | 177,880        |   |            | $      | 183,968 |   |
| Accrued      Compensation - Directors                                                                                                                                                                                                                                     |   |              | 1,160,990      |   |            |   | 976,811 |   |
| Due      to Directors                                                                                                                                                                                                                                                     |   |              | 377,412        |   |            |   | 350,435 |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Total      Liabilities                                                                                                                                                                                                                                                    |   |              | 1,716,282      |   |            |   | 1,511,214 |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Stockholders'      Deficit                                                                                                                                                                                                                                                |   |              |           |   |            |   |   |   |
| Common      Stock:  $.001 Par; 800,000,000 Shares      Authorized;                                                                                                                                                                                              |   |              |           |   |            |   |   |   |
|                           26,983,403      and 26,483,403 Issued and 23,983,403and  23,483,403,      Outstanding, Respectively |   |              | 23,983         |   |            |   | 23,483 |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Common      Stock, Class B:  $.001 Par; 50,000 Shares      Authorized;                                                                                                                                                                                          |   |              |           |   |            |   |   |   |
|                            -0-      Issued and Outstanding                                                                         |   |              | –– |   |            |   | –– |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Preferred      Stock, Class A:  $.001 Par; 1,000,000 Shares      Authorized;                                                                                                                                                                                    |   |              |           |   |            |   |   |   |
|                           66,000      Issued and Outstanding                                                                            |   |              | 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                                                                                                                                                                                                                                                  |   |              | (6,033,188     | )      |            |   | (5,788,574 | ) |
| Treasury      Stock – 3,000,000 Shares at $.001 Par                                                                                                                                                                                                                 |   |              | (3,000         | )      |            |   | (3,000 | ) |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Total      Stockholders' Deficit                                                                                                                                                                                                                                          |   |              | (1,672,019     | )      |            |   | (1,510,205 | ) |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |
| Total      Liabilities and Stockholders' Deficit                                                                                                                                                                                                                          |   | $                 | 44,263         |   |            | $      | 1,009 |   |
|                                                                                                                                                                                                                                                                      |   |              |           |   |            |   |   |   |

----

| GLOBAL      EARTH ENERGY, INC.                     |   |
|----------------------------------------------------|--------|
| (FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)       |   |
| (A      NEVADA CORPORATION)                        |   |
| Buffalo,      New York                             |   |
|                                               |   |
|                                               |   |
| CONSOLIDATED      STATEMENTS OF OPERATIONS         |   |
|                                               |   |
|                                               |   | Unaudited |   |
|                                               |   | (Restated) |   |   | (Restated) |   |
|  For the Three      Months Ended November 30, |   | 2008 |   |   | 2007 |   |
|                                               |   |   |   |   |   |   |
| Revenues,      Net                                 |   | $ | — |   |   | $ | — |   |
|                                               |   |   |   |   |   |   |   |   |
| Cost      of Goods Sold                            |   |   | — |   |   |   | — |   |
|                                               |   |   |   |   |   |   |   |   |
| Gross      Profit                                  |   |   | –– |   |   |   | –– |   |
|                                               |   |   |   |   |   |   |   |   |
| Expenses                                           |   |   |   |   |   |   |   |   |
| Compensation      Expense – Stock Options    |   |   | 2,800 |   |   |   | –– |   |
| Consulting      Fees                               |   |   | 183,500 |   |   |   | 172,500 |   |
| General      and Administrative                    |   |   | 24,457 |   |   |   | 56,849 |   |
| Interest      Expense                              |   |   | 33,857 |   |   |   | 20,220 |   |
|                                               |   |   |   |   |   |   |   |   |
| Total      Expenses                                |   |   | 244,614 |   |   |   | 249,569 |   |
|                                               |   |   |   |   |   |   |   |   |
| Loss      from Operations Before                   |   |   |   |   |   |   |   |   |
|   Provision      for Taxes               |   |   | (244,614 | ) |   |   | (249,569 | ) |
|                                               |   |   |   |   |   |   |   |   |
| Provision      for Taxes                           |   |   | — |   |   |   | — |   |
|                                               |   |   |   |   |   |   |   |   |
| Net      Loss for the Period                       |   | $ | (244,614 | ) |   | $ | (249,569 | ) |
|                                               |   |   |   |   |   |   |   |   |
| Weighted      Average Number of                    |   |   |   |   |   |   |   |   |
|   Common      Shares Outstanding -       |   |   |   |   |   |   |   |   |
|   Basic                                  |   |   | 23,983,403 |   |   |   | 22,541,383 |   |
|   Diluted                                |   |   | 26,983,403 |   |   |   | 25,541,383 |   |
| Net      Loss Per Common Share -                   |   |   |   |   |   |   |   |   |
|   Basic      and Diluted                 |   | $ | (0.01 | ) |   | $ | (0.01 | ) |

----

| GLOBAL      EARTH ENERGY, INC.                             |   |       |     |   |       |   |
|------------------------------------------------------------|--------|------------|----------|--------|------------|--------|
| (FORMERLY      KNOWN AS GLOBAL WATAIRE INC.)               |   |       |     |   |       |   |
| (A      NEVADA CORPORATION)                                |   |       |     |   |       |   |
| Buffalo,      New York                                     |   |       |     |   |       |   |
|                                                       |   |       |     |   |       |   |
|                                                       |   |       |     |   |       |   |
| CONSOLIDATED      STATEMENTS OF CASH FLOWS                 |   |       |     |   |       |   |
|                                                       |   |       |     |
|                                                       |   | Unaudited  |     |
|                                                       |   | (Restated) |     |   | (Restated) |   |
| For      the Three Months Ended November 30,               |   | 2008       |     |   | 2007       |   |
|                                                       |   |       |     |   |       |   |
| Cash      Flows from Operating Activities                  |   |       |     |   |       |   |
|                                                       |   |       |     |   |       |   |
| Net      Loss for the Period                               |   | $          | (244,614 | )      |       | $      | (249,569 | ) |
|                                                       |   |       |     |   |       |   |   |   |
| Non-Cash      Adjustments:                                 |   |       |     |   |       |   |   |   |
| Interest      on Loans                                     |   |       | 33,857   |   |       |   | 20,220 |   |
| Common      Stock Issued In Exchange for Services Rendered |   |       | 80,000   |   |       |   | — |   |
| Compensation      Expense – Stock Options            |   |       | 2,800    |   |       |   | — |   |
| Changes      in Assets and Liabilities:                    |   |       |     |   |       |   |   |   |
| Prepaid      Expenses                                      |   |       | (44,000  | )      |       |   | — |   |
| Accounts      Payable                                      |   |       | —  |   |       |   | 1,328 |   |
| Accrued      Expenses                                      |   |       | (8,941   | )      |       |   | 8,621 |   |
| Accrued      Compensation - Directors                      |   |       | 159,127  |   |       |   | 28,417 |   |
|                                                       |   |       |     |   |       |   |   |   |
| Net      Cash Flows from Operating Activities              |   |       | (21,771  | )      |       |   | (190,983 | ) |
|                                                       |   |       |     |   |       |   |   |   |
| Cash      Flows from Investing Activities                  |   |       | —  |   |       |   | — |   |
|                                                       |   |       |     |   |       |   |   |   |
| Cash      Flows from Financing Activities                  |   |       |     |   |       |   |   |   |
| Proceeds      from Issuance of Regulation S Shares         |   |       | —  |   |       |   | 153,982 |   |
| Advances      from (Repayment) to Directors - Net          |   |       | 21,025   |   |       |   | (56,667 | ) |
|                                                       |   |       |     |   |       |   |   |   |
| Net      Cash Flows from Financing Activities              |   |       | 21,025   |   |       |   | 97,315 |   |
|                                                       |   |       |     |   |       |   |   |   |
| Net      Change in Cash and Cash Equivalents               |   |       | (746     | )      |       |   | (93,668 | ) |
|                                                       |   |       |     |   |       |   |   |   |
| Cash      and Cash Equivalents - Beginning of Period       |   |       | 1,009    |   |       | $      | 197,593 |   |
|                                                       |   |       |     |   |       |   |   |   |
| Cash      and Cash Equivalents - End of Period             |   | $          | 263      |   |       | $      | 103,925 |   |
|                                                       |   |       |     |   |       |   |   |   |
|                                                       |   |       |     |   |       |   |   |   |
| Supplemental      Disclosures                              |   |       |     |   |       |   |   |   |
| Interest      Paid                                         |   | $          | —  |   |       | $      | — |   |
| Income      Taxes Paid                                     |   | $          | —  |   |       | $      | — |   |
|                                                       |   |       |     |   |       |   |   |   |

----

----

| 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      $6,033,188 at November 30,2008. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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      February 2006, the Financial Accounting Standards Board (“FASB”) issued      Statement of Financial Accounting Standard (“SFAS”) No. 155, “Accounting      for Certain Hybrid Financial Instruments – an amendment of FASB Statement      No. 133 and 140” (“SFAS 155”). |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | SFAS      155 resolves issues addressed in Statement 133 Implementation Issue No.      D1, “Application of Statement 133 to Beneficial Interest in Securitized      Financial Assets.”  SFAS 155 is effective for all financial      instruments acquired or issued after the beginning of the first fiscal      year that begins after September 15, 2006.  As such, the Company      is required to adopt these provisions at the beginning of the fiscal year      ended August 31, 2008.  The adoption of SFAS 155 did not have a      material effect on its consolidated financial    instruments. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In      March 2006, the FASB issued SFAS No. 156, “Accounting for Servicing of      Financial Assets – an amendment of FASB Statement No. 140” (“SFAS      156”).  SFAS 156 amends FASB Statement No. 140 with respect to      the accounting for separately recognized servicing assets and servicing      liabilities.  SFAS 156 requires all separately recognized      servicing assets and servicing liabilities to be initially measured at      fair value, if practical.  SFAS 156 is effective as of the      beginning of the first fiscal year that begins after September 15,      2006.  As such, the Company is required to adopt these      provisions at the beginning of the fiscal year ended August 31,      2008.  The adoption of SFAS 156 did not have a material effect      on its consolidated financialstatements. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 Company is currently evaluating the impact of SFAS      157 on its 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 Company is currently evaluating the impact of SFAS      159 on its 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,      2009.  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,      2009.  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.  As such, the Company is required to adopt these      provisions at the beginning of the fiscal year ended August,      2009.  The Company is currently evaluating the impact of SFAS      161 on its consolidated financial statements but does not expect it to      have a material effect.   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, 2009.  The Company is currently evaluating the      impact of SFAS 163 on its consolidated financial statements but does not      expect it to have a materialeffect. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| NOTE D      – | Share      Activity  Regulation      S Stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                     | On      January 26, 2007, the Company issued a press release announcing that they      had launched anequity offering on the Berlin Stock Exchange. The company      originally was offering 10,000,000 shares for sale.  On August      1, 2007, the board authorized an additional 5,000,000 shares for      sale.  All shares are being offered at a price of $0.50 per      share and if completely subscribed will yield $7,500,000. This offering is      on a best effort basis. As of November 30, 2008, 15,978,165 shares had      been issued including 2,300,000shares which were issued in exchange for      financial services rendered. Gross proceeds from the sale of stock were      $2,770,861 less stock issuance costs of $1,669,583.  Net      proceeds from the sale of stock were $1,101,278.  Stock      Options  On      October 18, 2008 the Company approved the granting of stock options to its      CFO of 40,000 Class A Preferred Stock Shares.   Common      Stock  On      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.   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. |

| NOTE E      – | Note      E – Restatement of Prior Quarter Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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|                     | The      financial statements included herein have been restated to correct an      error in accounting for services rendered by a consultant during the three      months ended November 30, 2008 and 2007 and for the year ended August 31,      2008.  A contract was entered into by the Company and the      consultant during the quarter ended November 30, 2006.  Services      by the consultant were rendered but not accrued thereby causing accrued      interest expense and the following restatements:   For      August 31, 2008, accrued expenses increased by $30,448 from $153,520 to      $183,968 resulting from an increase in accrued consulting expenses of      $20,000 and accrued interest expense of $10,448.  Accumulated      deficit increased by $30,448 from $5,758,126 to $5,788,574 as a result of      these increased accruals.   For      the three months ended November 30, 2007, consulting expenses increased by      $20,000 and interest expense increased by $2,356, thereby increasing net      loss for the quarter by $22,356 from $227,213 to$249,569.   For      the three months ended November 30, 2008, interest expense increased by      $2,853, thereby increasing net loss by $2,853 from $241,761 to      $244,614.  Accumulated Deficit increased by $2,853 from      $6,030,335 to $6,033,188.  Accrued expenses also increased by      $2,853 from $175,027 to $177,880.November 30, 2008 and 2007 was restated      for the cumulative effect of the above    items. |

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|                     | Global      Earth Energy, Inc. |
|--------------------------|--------------------------------|
|                     |                           |
| Date:      July __, 2009 | By:                  | /s/      Sydney A. Harland   |
|                     |                           | Sydney      A. Harland |
|                     |                           | Chief      Executive Officer   |
|                     |                           | /s/ Edmund J.      Gorman   |
|                     |                           | Edmund      J. GormanChief      FinancialOfficer |