**FORM
      10-QSB**





SECURITIES
      AND EXCHANGE COMMISSION


WASHINGTON,
      DC 20549





xQUARTERLY
      REPORT UNDER
      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934





For
      the
      quarterly period ended **** **MARCH
      31, 2007**





o TRANSITION
      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT





For
      the
      transition period from____________ to _____________




Commission
      file number **000-31385**





**GLOBAL
      FOOD TECHNOLOGIES, INC.**


(Exact
      name of registrant as specified in charter)





**Delaware**
            
            **52-2257546**(State
                incorporation) Identification No.)
            
            (IRS
                Employer





113
                Court Street, Hanford, California
            
            93230(Address
                of principal executive offices)
            
            (zip
                code)





559-589-0100


(Issuer’s
      telephone number)





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


Yes
oNo
x





Indicate
      by check mark whether registrant is a shell company Yes oNo x





Indicate
      the number of shares outstanding of each issuer’s classes of common equity, as
      of the last practicable date:





Class
            
            Outstanding
                as of February 29, 2008Common
                stock, par value $0.0001
            
            27,506,467





Transitional
      Small Business Disclosure Format (Check one): Yes oNo x








GLOBAL
      FOOD TECHNOLOGIES, INC.


(A
      DEVELOPMENT STAGE COMPANY)


QUARTERLY
      REPORT ON FORM 10-QSB


QUARTER
      ENDED MARCH 31, 2007





TABLE
      OF
      CONTENTS





P**ART
                I – FINANCIAL INFORMATION**
            3**ITEM
                1.****FINANCIAL
                STATEMENTS**
            3Condensed
                balance sheet as of March 31, 2007 - (unaudited)
            3Condensed
                statements of operationsfor
                the three months ended March 31, 2007 and 2006 and the period from
                July
                25, 2001 (Inception) toMarch
                31, 2007 - (unaudited)
            4Condensed
                statement of stockholders' deficit for the period from July 25, 2001
                (Inception) to March 31, 2007 - (unaudited)
            5Condensed
                statements of cash flows for the three months ended March 31, 2007
                and
                2006 and the period from July 25, 2001 (Inception) to March 31, 2007
                -
                (unaudited)
            6Notes
                to condensed financial statements - (unaudited)
            7**ITEM
                2.****MANAGEMENT’S
                DISCUSSION AND ANALYSIS OR PLAN OF OPERATION**
            10**ITEM
                3.****CONTROLS
                AND PROCEDURES**
            16**PART
                II - OTHER INFORMATION**
            17**ITEM
                1. LEGAL PROCEEDINGS**
            17**ITEM
                2. UNREGISTERED SALES OF EQUITY SECURITIES**
            17**ITEM
                3. DEFAULTS UPON SENIOR SECURITIES**
            18**ITEM
                4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY
                HOLDERS**
            18**ITEM
                5. OTHER INFORMATION**
            18**ITEM
                6. EXHIBITS**
            19


2


**PART
      I – FINANCIAL INFORMATION**





**ITEM
      1.**  **FINANCIAL
      STATEMENTS** ****





GLOBAL
      FOOD TECHNOLOGIES, INC.


(A
      DEVELOPMENT STAGE COMPANY)


CONDENSED
      BALANCE SHEET


(Unaudited)





March
                31, 2007ASSETSCurrent
                AssetsPrepaid
                expenses
            
            $
            50,970Total
                Current Assets
            
            
            50,970Fixed
                Assets - net
            
            
            118,051Other
                Asset
            
            
            11,500TOTAL
                ASSETS
            
            $
            180,521LIABILITIES
                AND STOCKHOLDERS’ DEFICITCurrent
                LiabilitiesBank
                overdraft
            
            $
            48,853Accounts
                payable
            
            
            339,976Accrued
                liabilities
            
            
            385,613Notes
                payable - related parties
            
            
            540,000Total
                Current Liabilities
            
            
            1,314,442Commitments
                and ContingenciesStockholders’
                Deficit:Preferred
                stock, $.0001 par value, 20,000,000 shares authorized, none
                outstanding
            
            
            -Common
                stock, $.0001 par value, 100,000,000 shares authorized, 25,634,336
                shares
                issued and outstanding
            
            
            2,563Additional
                paid-in capital
            
            
            37,483,756Deficit
                accumulated during the development stage
            
            
            (38,620,240
            )Total
                Stockholders’ Deficit
            
            
            (1,133,921
            )TOTAL
                LIABILITIES AND STOCKHOLDERS’ DEFICIT
            
            $
            180,521





See
      accompanying notes to condensed financial statements


3





GLOBAL
      FOOD TECHNOLOGIES, INC.


**** (A
      DEVELOPMENT STAGE COMPANY)


CONDENSED
      STATEMENTS OF OPERATIONS


(Unaudited)




For the Three Months Ended
                  March 31,
                
                The Period
                  From July
                  25, 2001
                  (Inception) To
                  March 31,2007
                
                2006
                
                2007Revenues
                
                $
                -
                
                $
                -
                
                $
                -ExpensesMarketing
                
                
                610,282
                
                
                768,012
                
                
                5,571,507General
                    and administrative
                
                
                1,254,208
                
                
                436,956
                
                
                11,015,680Research
                    and development
                
                
                588,141
                
                
                1,071,853
                
                
                17,691,534Depreciation
                
                
                29,592
                
                
                27,465
                
                
                473,787Interest
                
                
                10,800
                
                
                -
                
                
                260,621Asset
                    impairment
                
                
                -
                
                
                -
                
                
                3,157,111Merger
                    related costs
                
                
                -
                
                
                -
                
                
                450,000Total
                    Expenses
                
                
                2,493,023
                
                
                2,304,286
                
                
                38,620,240NET
                    LOSS
                
                $
                (2,493,023
                )
                $
                (2,304,286)
                    $
                
                
                (38,620,240
                )Loss
                    per share, basic and diluted
                
                $
                (0.10
                )
                $
                (0.10
                )Weighted
                    average shares, basic and diluted
                
                
                25,416,845
                
                
                23,622,577





See
      accompanying notes to condensed financial statements




4


GLOBAL
      FOOD TECHNOLOGIES, INC.


(A
      DEVELOPMENT STAGE COMPANY)


CONDENSED
      STATEMENTS OF STOCKHOLDERS’ DEFICIT


FOR
      THE
      PERIOD FROM JULY 25, 2001 (INCEPTION) TO MARCH 31, 2007


(Unaudited)





Common
                Stock
            
            Additional
Paid-in
            
            Deficit
AccumulatedDuring the
            
            Total
Stockholders’Shares
            
            
            Amount
            
            Capital
            
            DevelopmentStage
            
            DeficitIssuance
                to founders at inception, at par
            
            
            10,333,333
            
            $
            1,033
            
            $
            (1,002
            )
            $
            -
            
            $
            31Sales
                of stock for cash
            
            
            298,706
            
            
            30
            
            
            154,008
            
            
            -
            
            
            154,038Premium
                on preferred stock
            
            
            -
            
            
            -
            
            
            (200,800
            )
            
            -
            
            
            (200,800
            )Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (
                957,269
            )
            
            (957,269
            )Balance,
                December 31, 2001
            
            
            10,632,039
            
            
            1,063
            
            
            (47,794
            )
            
            (957,269
            )
            
            (1,004,000
            )Sales
                of stock for cash
            
            
            4,848,575
            
            
            485
            
            
            4,308,374
            
            
            -
            
            
            4,308,859Premium
                on preferred stock
            
            
            -
            
            
            -
            
            
            (12,500
            )
            
            -
            
            
            (12,500
            )Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (3,584,307
            )
            
            (3,584,307
            )Balance,
                December 31, 2002
            
            
            15,480,614
            
            
            1,548
            
            
            4,248,080
            
            
            (4,541,576
            )
            
            (291,948
            )Sales
                of stock for cash
            
            
            2,155,353
            
            
            216
            
            
            3,865,864
            
            
            -
            
            
            3,866,080Premium
                on preferred stock
            
            
            -
            
            
            -
            
            
            (291,800
            )
            
            -
            
            
            (291,800
            )Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (4,265,029
            )
            
            (4,265,029
            )Balance,
                December 31, 2003
            
            
            17,635,967
            
            
            1,764
            
            
            7,822,144
            
            
            (8,806,605
            )
            
            (982,697
            )Sales
                of stock for cash
            
            
            1,199,081
            
            
            120
            
            
            4,434,772
            
            
            -
            
            
            4,434,892Premium
                on preferred stock
            
            
            -
            
            
            -
            
            
            (37,501
            )
            
            -
            
            
            (37,501
            )Fair
                value of warrants issued for services
            
            
            -
            
            
            -
            
            
            3,400
            
            
            -
            
            
            3,400Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (2,626,785
            )
            
            (2,626,785
            )Balance,
                December 31, 2004
            
            
            18,835,048
            
            
            1,884
            
            
            12,222,815
            
            
            (11,433,390
            )
            
            791,309Sales
                of stock for cash
            
            
            1,732,220
            
            
            173
            
            
            7,943,948
            
            
            -
            
            
            7,944,121Premium
                on preferred stock
            
            
            -
            
            
            -
            
            
            (271,123
            )
            
            -
            
            
            (271,123
            )Fair
                value of warrants issued for services
            
            
            -
            
            
            -
            
            
            21,825
            
            
            -
            
            
            21,825Fair
                value of stock issued for services
            
            
            82,598
            
            
            8
            
            
            371,683
            
            
            -
            
            
            371,691Conversion
                of preferred stock
            
            
            2,400,540
            
            
            240
            
            
            2,938,879
            
            
            -
            
            
            2,939,119Stock
                transferred in consummation of merger
            
            
            100,000
            
            
            10
            
            
            -
            
            
            -
            
            
            10Stock
                issued for merger related costs
            
            
            100,000
            
            
            10
            
            
            449,990
            
            
            -
            
            
            450,000Stock
                issued to round up split
            
            
            1,369
            
            
            -
            
            
            -
            
            
            -
            
            
            -Stock
                issued for media contract
            
            
            244,444
            
            
            24
            
            
            1,099,976
            
            
            -
            
            
            1,100,000Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (11,598,728
            )
            
            (11,598,728
            )Balance,
                December 31, 2005
            
            
            23,496,219
            
            
            2,349
            
            
            24,777,993
            
            
            (23,032,118
            )
            
            1,748,224Sales
                of stock for cash
            
            
            724,958
            
            
            73
            
            
            3,111,338
            
            
            -
            
            
            3,111,411Stock
                issued for services
            
            
            37,065
            
            
            4
            
            
            166,782
            
            
            -
            
            
            166,786Fair
                value of incentive stock issued
            
            
            530,000
            
            
            53
            
            
            2,384,947
            
            
            -
            
            
            2,385,000Stock
                issued for media contract
            
            
            411,111
            
            
            41
            
            
            1,849,959
            
            
            -
            
            
            1,850,000Fair
                value of warrants issued
            
            
            -
            
            
            -
            
            
            2,982,098
            
            
            -
            
            
            2,982,098Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (13,095,099
            )
            
            (13,095,099
            )Balance
                December 31, 2006
            
            
            25,199,353
            
            
            2,520
            
            
            35,273,117
            
            
            (36,127,217
            )
            
            (851,580
            )Sales
                of stock for cash
            
            
            213,883
            
            
            21
            
            
            905,066
            
            
            -
            
            
            905,087Stock
                issued for services
            
            
            134,433
            
            
            13
            
            
            604,934
            
            
            -
            
            
            604,947Fair
                value of incentive stock issued
            
            
            45,000
            
            
            5
            
            
            202,495
            
            
            -
            
            
            202,500Stock
                issued for media contract
            
            
            41,667
            
            
            4
            
            
            187,496
            
            
            -
            
            
            187,500Fair
                value of warrants issued
            
            
            -
            
            
            -
            
            
            310,648
            
            
            -
            
            
            310,648Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (2,493,023
            )
            
            (2,493,023
            )Balance,
                March 31, 2007
            
            
            25,634,336
            
            $
            2,563
            
            $
            37,483,756
            
            $
            (38,620,240
            )
            $
            (1,133,921
            )





See
      accompanying notes to condensed financial statements


5


GLOBAL
      FOOD TECHNOLOGIES, INC.


(A
      DEVELOPMENT STAGE COMPANY)


CONDENSED
      STATEMENTS OF CASH FLOWS


(Unaudited)





For the Three Months Ended
              March 31,
            
            The Period From
              July 25, 2001
              (Inception) To
              March 31,
              20072007
            
            2006CASH
                FLOWS FROM OPERATING ACTIVITIESNet
                loss
            
            $
            (2,493,023
            )
            $
            (2,304,286
            )
            $
            (38,620,240
            )Adjustments
                to reconcile net loss to net cash used in operating
                activities:Depreciation
            
            
            29,592
            
            
            27,465
            
            
            473,786Fair
                value of warrants issued for services
            
            
            310,648
            
            
            14,467
            
            
            3,317,975Fair
                value of stock issued for services
            
            
            604,947
            
            
            -
            
            
            1,143,424Fair
                value of incentive plan grants
            
            
            202,500
            
            
            -
            
            
            2,587,500Fair
                value of stock issued for media services
            
            
            187,500
            
            
            554,168
            
            
            3,137,500Impairment
                of BEST system
            
            
            -
            
            
            -
            
            
            3,157,111Merger
                related costs
            
            
            -
            
            
            -
            
            
            450,000Changes
                in assets and liabilities:Prepaid
                expenses
            
            
            (24,622
            )
            
            1,464
            
            
            (50,970
            )Increase
                in other assets
            
            
            -
            
            
            -
            
            
            (11,500
            )Bank
                overdraft, accounts payable and accrued liabilities
            
            
            74,202
            
            
            75,030
            
            
            774,438Cash
                used in operating activities
            
            
            (1,108,256
            )
            
            (1,631,692
            )
            
            (23,640,976
            )CASH
                FLOWS FROM INVESTING ACTIVITIESAcquisition
                of BEST system
            
            
            -
            
            
            -
            
            
            (3,157,111
            )Acquisition
                of fixed assets
            
            
            -
            
            
            -
            
            
            (591,837
            )Net
                cash used in investing activities
            
            
            -
            
            
            -
            
            
            (3,748,948
            )CASH
                FLOWS FROM FINANCING ACTIVITIESProceeds
                for notes payable - related parties
            
            
            -
            
            
            -
            
            
            740,000Principal
                payments on notes payable - related parties
            
            
            -
            
            
            -
            
            
            (200,000
            )Sale
                of common stock
            
            
            905,087
            
            
            -
            
            
            24,724,519Sale
                of redeemable Series A preferred stock - net
            
            
            -
            
            
            -
            
            
            2,125,405Net
                Cash provided by financing activities
            
            
            905,087
            
            
            -
            
            
            27,389,924DECREASE
                IN CASH
            
            
            (203,169
            )
            
            (1,631,692
            )
            
            -CASH –
                BEGINNING OF PERIOD
            
            
            203,169
            
            
            1,671,700
            
            
            -CASH
                – END OF PERIOD
            
            $
            -
            
            $
            40,008
            
            $
            -SUPPLEMENTAL
                DISCLOSURESInterest
                paid
            
            $
            -
            
            $
            -
            
            $
            93,970Non-cash
                financing transactions:Conversion
                of redeemable preferred stock
            
            $
            -
            
            $
            -
            
            $
            2,939,119Accretion
                of redemption value of preferred stock
            
            $
            -
            
            $
            -
            
            $
            813,719Stock
                transferred in consummation of merger
            
            $
            -
            
            $
            -
            
            $
            10





See
      accompanying notes to condensed financial statements


6





GLOBAL
      FOOD TECHNOLOGIES, INC.


(A
      DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS


MARCH
      31, 2007





**1.** **Description
      and nature of the business, organization and basis of
      presentation**





Global
      Food Technologies, Inc. (the “Company”, “we” or “us”) is a biotechnology company
      focused on the development of food safety processes for the food processing
      industry by using its proprietary scientific processes to substantially increase
      the shelf life of commercially packaged seafood and to make those products
      safer
      for human consumption. The Company has developed a process using its developed
      technology called the “ ***iPuraTM
      Food Processing System”*** *.* The
      Company’s ability to generate revenue will depend, among other things, on its
      ability to demonstrate the merits of the ***iPuraTM*** system
      as
      well as brand development and establishing alliances with suppliers and vendors.
      The Company has not generated revenues to date and continues to operate as
      a
      development stage entity.





**Organization**




Prior
      to
      August 2005, the Company was a public “shell” company and the Company’s assets
      were held, and operations conducted by, an unrelated private company. In August
      2005, the Company completed an asset purchase transaction and the former shell
      became the operating and publicly reporting company, with the private entity
      becoming the Company’s parent and majority stockholder. The Company’s stock is
      not listed on any exchange or the Over-the-Counter Bulletin Board. The
      shareholders of the public shell company obtained approximately 1% of the common
      stock of the post-transaction publicly reporting Company.




**Going
      Concern**





The
      accompanying financial statements have been prepared on the basis that the
      Company will continue as a going concern, which assumes the realization of
      assets and the satisfaction of liabilities in the normal course of business.
      Since inception, the Company has primarily been engaged in product development
      and pre-operational activities. No revenue has been generated to date and the
      Company has accumulated losses totaling $38,620,240 and negative cash flows
      from
      operations of $23,640,976 from inception to date through March 31, 2007 and
      has
      negative working capital. The Company’s ability to continue as a going concern
      is predicated on its ability to raise additional capital, begin earning revenue
      and ultimately achieve sustained profitable operations. The uncertainty related
      to these conditions raises substantial doubt about the Company’s ability to
      continue as a going concern. The accompanying financial statements do not
      include any adjustments that might result from the outcome of this
      uncertainty.





**Development
      Stage and Capital Resources**





Since
      its
      inception, the Company has devoted substantially all of its efforts to business
      planning, research and development, recruiting management and technical staff,
      acquiring operating assets and raising capital. Accordingly, the Company is
      considered to be in the development stage as defined in Statement of Financial
      Accounting Standards (“SFAS”) No. 7, *Accounting
      and Reporting by Development Stage Enterprises.* The
      Company has not generated any revenues from its principal operations, and there
      is no assurance of future revenues.




***iPuraTM*** (formerly
        the “BEST”) Seafood Processing System **-** The ***iPuraTM*** Seafood
        Processing System, the physical embodiment of our food processing technology,
        was completed, tested and available for commercial application (in a previous
        generation design) in 2005 and was capitalized at a construction cost of
        $3,157,111. Design, testing and support costs involved were expensed. In
        2005,
        mechanical and software upgrades were implemented to optimize the mechanical
        process. The improvements were so substantial that this prior model was deemed
        inappropriate for installation in a customer’s processing facility. As a result,
        the Company recorded an asset impairment charge of $3,157,111 for the year
        ended
        December 31, 2005. A new model is being constructed with increased capacity
        and
        simplified operating and maintenance parameters. Design, testing and support
        costs incurred on this model have been included in research and development
        costs.


7




**Basis
      of presentation**





The
      accompanying unaudited condensed financial statements have been prepared in
      accordance with generally accepted accounting principles in the United States
      of
      America for interim financial information and pursuant to the rules and
      regulations of the United States Securities and Exchange Commission (“SEC”).
      Accordingly, they do not include all of the information and footnotes required
      by generally accepted accounting principles for complete financial statements.
      In the opinion of management, all adjustments (consisting of normal recurring
      adjustments) considered necessary for a fair presentation have been included.
      These financial statements should be read in conjunction with the Company’s
      Amended Annual Report on Form 10-KSB/A for the fiscal year ended December 31,
      2006, filed with the SEC on August 2, 2007. The results of operations for
      interim periods are not necessarily indicative of the results expected for
      a
      full year or for any future period.





**Accounting
      policies**





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




Loss
      per share -
      Loss
      per share was computed using the weighted average number of shares of common
      stock equivalents outstanding during the period. Stock purchase warrants were
      not used in the computation as their effect would be antidilutive.





Stock-based
      compensation - In
      December 2004, the Financial Accounting Standards Board (“FASB”) issued SFAS No.
      123R, “Share-Based Payment”. This statement requires that the cost resulting
      from all share-based payment transactions be recognized in the financial
      statements. This statement establishes fair value as the measurement objective
      in accounting for share-based payment arrangements and requires all entities
      to
      apply a fair-value based measurement method in accounting for share-based
      payment transactions with employees except for equity instruments held by
      employee share ownership plans. Effective January 1, 2006, the Company adopted
      the fair value recognition provisions of SFAS No. 123R, using the modified
      prospective method. Under this method, the provisions of SFAS No. 123R apply
      to
      all awards granted or modified after the date of adoption and all previously
      granted awards not yet vested as of the date of adoption. The initial adoption
      of this standard had no effect on the Company’s financial
      statements.


8




Shares,
      warrants and options issued to non-employees for services are accounted for
      in
      accordance with SFAS No. 123R and Emerging Issues Task Force Issue No. 96-18
      (“EITF 96-18”), “Accounting for Equity Instruments that are Issued to Other Than
      Employees for Acquiring or In Conjunction with Selling Goods or Services”
whereby the fair value of such option and warrant grants is determined using
      the
      Black-Scholes Model at the earlier of the date at which the non-employee’s
      performance is completed or a performance commitment is reached.




**2.
      Stockholders’ Deficit**





**Stock
      Issuances** **.** We
      have
      been selling stock to fund operations since inception and expect to continue
      to
      sell stock to fund continued operations. Through December 31, 2005, common
      and
      preferred stock were sold in various offerings resulting in 12,634,475 shares
      being issued for cash with total net proceeds of $22,833,426.





In
      2006,
      we commenced a private placement of our securities to accredited investors
      in
      conformity with Rule 506 of Regulation D of the Securities Act of 1933, as
      amended. The initial form of offering consisted of 500,000 units, each
      consisting of two shares of Common Stock and one warrant to purchase one share
      of Common Stock for a maximum offering price of $4,500,000. Subsequently, the
      offering has been modified to include more or less warrants but the selling
      price remained constant at $4.50 per share or per unit. In addition, we have
      conducted offshore sales of common stock at a purchase price of $4.50 per share,
      plus warrants that varied from time to time, pursuant to Regulation S of the
      Securities Act of 1933, as amended.





In
      the
      three months ended March 31, 2007, a total of 213,883 shares of common stock
      and
      40,501 warrants to purchase common stock were issued in private placements
      for
      total proceeds of $905,087, net of commissions of $57,350. All stock and unit
      sales were at $4.50 per share or unit.





In
      the
      three months ended March 31, 2007, a total of 179,433 shares of common stock
      and
      151,839 warrants to purchase common stock were issued for services, of which
      134,433 shares were issued as compensation to consultants and 45,000 shares
      were
      issued to employees under our 2006 Stock Incentive Plan. All such shares of
      common stock vested immediately upon issuance. Related expense of approximately
      $807,500 was recorded as operating expenses in the period ended March 31,
      2007.





**Media
      Agreement** **.** On
      September 30, 2005, we entered into a three year contract for media production
      and distribution services with Global Media Fund, LLC, which will provide
      nationally syndicated newspaper and radio features about us, our BEST food
      processing systems and food safety issues to 10,000 newspapers and 6,000 radio
      stations. The total cost for the contract is $4,500,000. The Company agreed
      to
      pay (i) $2,250,000 in cash or common stock in the first year of the contract
      and
      $2,250,000 in shares of restricted common stock in 12 quarterly installments
      which began in January 2006. During
      the three months ended March 31, 2007, and in accordance with the media
      agreement, 41,667 shares of common stock valued at $187,500 were issued and
      charged to marketing expense at the date the common shares were issued.





**Warrants** **.** At
      December 31, 2006, there were 3,804,458 warrants outstanding. In the three
      months ended March 31, 2007 an additional 192,340 warrants were issued, of
      which
      40,501 were issued in conjunction with sales of common stock (as noted above)
      and 151,839 were issued as compensation for services. There are 3,996,798
      warrants outstanding as of March 31, 2007.


9


**3.**  **Subsequent
      Events**





During
      the subsequent nine months ended December 31, 2007, an additional 125,001 shares
      of common stock were issued under the media agreement with Global Media Fund,
      LLC.





During
      the subsequent nine months ended December 31, 2007, an additional 1,059,822
      shares of common stock and 525,021 warrants to purchase common stock were issued
      in private placements for total proceeds of $4,572,277, net of commissions
      of
      $196,878. All stock and unit sales were at $4.50 per share or unit.





During
      subsequent nine months ended December 31, 2007, a total of 488,722 shares of
      common stock were issued for services, 73,722 shares as compensation to
      consultants and 415,000 shares to employees under our 2006 Stock Incentive
      Plan.





In
      August
      2007, we relocated our science and engineering staff from Pocatello, Idaho
      to
      Hanford, California. We terminated all commitments in Idaho and leased an
      approximately 15,000 square foot warehouse in which to operate our engineering
      activities.





**ITEM
      2.**  **MANAGEMENT’S
      DISCUSSION AND ANALYSIS OR PLAN OF OPERATION**




The
      following presentation of Management’s Plan of Operation has been prepared by
      internal management and should be read in conjunction with the financial
      statements and notes thereto included in Item 1 of this Quarterly Report on
      Form
      10-QSB. Except for the historical information contained herein, the discussion
      in this report contains certain forward-looking statements that involve risks
      and uncertainties, such as statements of our business plans, objectives,
      expectations and intentions as of the date of this filing. The cautionary
      statements about reliance on forward-looking statements made below in this
      document should be given serious consideration with respect to all
      forward-looking statements wherever they appear in this report. Our actual
      results could differ materially from those discussed here.





**Plan
      of Operation**





From
      the
      commencement of our research and development activities in 2001, we have raised
      substantial equity capital to fund the development of our BEST Seafood
      Processing System. The BEST Seafood Processing System has been re-branded as
      the *iPuraTM
      System* and we
      believe is ready for market introduction as the embodiment of ***The*** **** ***iPura*** **TM** ***Food Safety Program*** ,
      although our other prospective products still require additional research and
      development, and some customization of the *iPura* TM ** system
      will be required for each specific on-site installation. As of March 31, 2007,
      we have not generated any revenues and we have incurred accumulated losses
      of
      $38,620,240 and negative operating cash flows of $23,640,976. Research on our
      first generation prototype was completed in 2004, and development and refinement
      on the commercial system design continued through 2005, especially adapting
      the
      system to processing salmon. Production has commenced on one unit of the current
      generation of the **** ***iPura*** **TM** ****** system,
      including the material handling components necessary for processing salmon,
      which we intend to use for a commercial installation with a customer in Chile.
      We are continuing development of a modified iPura system for the processing
      of
      more dense seafood including tilapia and shrimp.





GFT
      began
      promoting the *iPuraTM* label
      through industry trade shows, trade publications, workshops, seminars, invited
      speaking engagements, and meetings sponsored on our behalf by various
      governmental agencies and industry trade associations. The Company
      is executing its marketing strategy by promoting the *iPura* TM
brand
      to food processors and industry associations as the world’s first food safety
      label. **** In
      2008,
      we expect to begin marketing the *iPura* TM
brand
      to consumers. The *iPura* TM
seal
      is **** anchored
      with a descriptive and lasting slogan: **** “ **The
      Highest Standard in Food SafetyTM”.**


10





· The
      science and marketing connect well with world food safety issues.


· The *iPura* TM
label
      is a tool which communicates that exceptional food safety measures have been
      taken to protect consumer health.


· The
      label
      will serve to identify food products that have a higher level of safety and
      quality.


· GFT
      has
      filed trade marks for its brand and slogan in every major food producing and
      food consuming nation.


· Trade
      marks are expected to be listed on the primary registry at the USPTO and
      internationally, as a global trademark search by counsel found no prior marks
      or
      obstructions.




The *iPuraTM* Food Safety
      Program is the constitution of the *iPuraTM* food
      safety brand, which is anticipated to include:





· An
      organic pathogenic and spoilage microorganism “kill step” prior to packaging.


· Intelligent
      packaging of product.


· Product
      traceability of handling and temperature.


· An
      independent third party certification of standards.


· A
      unique
      product insurance that follows the *iPura* TM
labeled
      product throughout the distribution chain.


· A
      distribution chain and consumer “pull through” marketing program promoting *iPuraTM* as “The
      Highest Standard in Food SafetyTM.”





The *iPuraTM* Food
      Safety Program will help the food chain grow their margins by increasing the
      quality, safety, and economic value of their products by reducing or eliminating
      the waste and liability associated with the distribution of contaminated food,
      and by increasing shelf life.


We plan to
      promote the *iPura* TM brand
      utilizing an extensive media and educational campaign focusing on the health
      and
      economic benefits of *iPura* TM **** treated
      products and the increased profit margins available to the entire distribution
      chain. GFT has entered into a media-buying agreement, financed with common
      stock, with Global Media Fund LLC. The agenda includes regular distribution
      of
      feature articles in the U.S. to over 10,000 newspapers, news, wire services,
      and
      radio spots to more than 6,000 radio stations, over a 36-month period, with
      a
      total advertising rate value of $54 million. ****** GFT’s
      pull through marketing campaign will begin with “Ask your grocer for *iPuraTM* ”.
      F ood
      safety is public health news and we anticipate that the *iPuraTM* food safety
      brand will be publicized as news in media across the globe.





Initially,
      we have targeted three major seafood markets: Chile, Vietnam, and China. Each
      is among
      the
      world’s top 10 seafood exporting
      markets and potential customers, as well as certain government agencies in
      each
      country have expressed interest in installing *iPura* TM
      systems. With **** the
      official sponsorship of government and industry associations, GFT has presented
      to hundreds of processors in these countries, and is ready to negotiate
      contracts with large volume processors as soon as growth capital is secured
      and
      our anticipated first installation in Chile is successfully completed. GFT
      anticipates expanding into other large seafood producing countries such as
      Norway, Thailand, India, Canada, and the United States in phase two. Seafood
      is
      expected to be followed by poultry and pork, (although no significant research
      and development has yet been conducted on poultry or pork), with plans to
      develop a system for meat and possibly other food products marketed under the *iPura* TM
label
      in the future. As of the date of this Report, we have not entered into any
      definitive contracts with customers for our *iPura* TM
      system.


11


GFT
      has
      established itself in three of the world’s largest seafood exporting countries:
      Vietnam, Chile, and China. GFT believes that it was successful in executing
      a
      top down strategy that began at the respective country’s governmental level of
      The Ministry of Agriculture / Department of Agriculture; these meetings resulted
      in introductions to the Ministry of Fisheries / Department of Fisheries, which
      led to introductions with governmental food regulatory agencies and referrals
      by
      these public entities to the Seafood Processing Associations. All were briefed
      on the *iPura* TM Food
      Safety Program and the economic value proposition were explained.





During
      the next 12 months, we intend to begin marketing to consumers and to continue
      marketing efforts to processors and industry associations to create awareness
      of
      our *iPuraTM* brand,
      the *iPuraTM* Seafood
      Processing System and other food processing technologies.




We
      also
      intend to participate in the following industry conferences:




·
            Institute
                of Food Technologists Expo


·
            Food
                Marketing Institute Annual Business
                Conference


·
            Food
                Safety Conference (International Association for Food
                Protection)


·
            National
                Food Policy Conference





We
      had no
      debt other than trade indebtedness in the ordinary course of business and short
      term loans of $540,000 from a Director and a shareholder. Based on our cash
      balance as of the date of this report, we estimate that we will need to raise
      significant additional capital to cover our operating costs in the future and
      to
      build additional units of ***The
      iPura*** **TM**  ***System*** .
      If
      additional units are required to meet customer demand, we will need to raise
      additional funds. Any additional capital we raise may involve issuing additional
      shares of common stock or other equity securities, or obtaining debt financing.
      However, at this point, we have not specifically identified the type or sources
      of this funding. We are exploring commercial and joint venture financing
      opportunities and relationships with potential processor/customers with sale
      and
      lease-back arrangements.





We
      believe that we have adequate plant capabilities and capacity and sufficient
      qualified personnel to achieve our planned operations, although we do anticipate
      an investment in additional research and laboratory facilities to meet any
      accelerated or new product support requirements. In addition, an increase in
      the
      number of units of the ***iPura*** **TM**  ***System*** produced
      and installed beyond the next two units will likely require additional
      outsourcing of fabrication, integration and installation of the units. We will
      add non-technical support personnel as required to manage the increase in
      administrative activity.





**Revenues**





Since
      our
      inception, we have not had any revenues from operations and have operated mainly
      as a research and development company. We are classified as a “Development Stage
      Company” under accounting principles generally accepted in the United
      States.


12




**Liquidity
      and Capital Resources**





Historically,
      our sole source of cash has been the sale of equity to investors and we will
      need significant additional capital in the future to cover operating expenses,
      including costs for constructing additional ***iPura*** **TM**  ***Systems.*** However,
      the amount of capital required will vary depending on a variety of factors,
      many
      of which are beyond our control. We believe that commercial financing is
      available to construct and install our ***iPura*** **TM**  ***System*** ***s*** ,
      but
      have not identified any sources of financing. We cannot assure you that funds
      from our future operations or funds provided by our current financing
      activities will meet the requirements of our operations, and in that event,
      we
      will continue to seek additional sources of financing to maintain
      liquidity.





We
      are
      actively pursuing all potential financing options as we look to secure
      additional funds both to stabilize and to grow our business operations. Our
      management will review any financing options at their disposal, and will judge
      each potential source of funds on its individual merits. We cannot assure you
      that we will be able to secure additional funds from debt or equity financing,
      as and when we need to, or if we can, that the terms of this financing will
      be
      favorable to us or our stockholders.





**Critical
      Accounting policies**





Loss
      per share -
      Loss
      per share was computed using the weighted average number of shares of common
      stock equivalents outstanding during the period. Stock purchase warrants were
      not used in the computation as their effect would be antidilutive.





Stock-based
      compensation -
      Statement of Financial Accounting Standards No. 123, "Accounting for Stock-Based
      Compensation" ("SFAS No. 123"), established a fair value method of accounting
      for stock-based compensation plans and for transactions in which an entity
      acquires goods or services from non-employees in exchange for equity
      instruments. Through December 31, 2005, the Company accounted for stock-based
      compensation utilizing the fair value method of accounting prescribed in SFAS
      No. 123.





In
      December 2004, the Financial Accounting Standards Board (“FASB”) issued
      Statement of Financial Accounting Standards 123R, “Share-Based Payment” (“SFAS
      123R”). This statement requires that the cost resulting from all share-based
      payment transactions be recognized in the financial statements. This statement
      establishes fair value as the measurement objective in accounting for
      share-based payment arrangements and requires all entities to apply a fair-value
      based measurement method in accounting for share-based payment transactions
      with
      employees except for equity instruments held by employee share ownership plans.
      Effective January 1, 2006, the Company adopted the fair value recognition
      provisions of SFAS 123R, using the modified prospective method. Under this
      method, the provisions of SFAS 123R apply to all awards granted or modified
      after the date of adoption and all previously granted awards not yet vested
      as
      of the date of adoption. The initial adoption of this standard had no effect
      on
      the Company’s financial statements.





Shares,
      warrants and options issued to non-employees for services are accounted for
      in
      accordance with SFAS 123(R) and Emerging Issues Task Force Issue No. 96-18
      (“EITF 96-18”), “Accounting for Equity Instruments that are Issued to Other Than
      Employees for Acquiring or In Conjunction with Selling Goods or Services”
whereby the fair value of such option and warrant grants is determined using
      the
      Black-Scholes Model at the earlier of the date at which the non-employee’s
      performance is completed or a performance commitment is reached


13


**Off
      Balance Sheet Arrangements**





We
      do not
      have any off-balance sheet arrangements.





**Cautionary
      Information Regarding “Forward-Looking Statements”**




This
      Quarterly Report on Form 10-QSB includes certain statements about us that may
      be
      deemed to be “forward-looking statements” within the meaning of the Private
      Securities Litigation Reform Act of 1995. These forward-looking statements
      relate to matters such as, among other things, product development and
      acceptance, our anticipated financial performance, business prospects,
      technological developments, new products, future distribution or license rights,
      international expansion, possible strategic alternatives, new business concepts,
      capital expenditures, consumer trends and similar matters.





Forward-looking
      statements necessarily involve known and unknown risks, uncertainties and other
      factors that may cause our actual results, levels of activity, performance
      or
      achievements to be materially different from any future results, levels of
      activity, performance or achievement expressed or implied by these
      forward-looking statements. In some cases, you can identify forward-looking
      statements by terminology such as “may,” “will,” “should,” “could,” “intend,”
“expect,” “anticipate,” “assume,” “hope,” “plan,” “believe,” “seek,” “estimate,”
“predict,” “approximate,” “potential,” “continue” or the negative of these
      terms. Statements including these words and variations of these words, and
      other
      similar expressions, are forward-looking statements. Although we believe that
      the expectations reflected in our forward-looking statements are reasonable
      based upon our knowledge of our business, we cannot absolutely predict or
      guarantee any future results, levels of activity, performance or achievements.
      Moreover, neither we nor any other person assumes responsibility for the
      accuracy and completeness of these statements.





We
      note
      that a variety of factors could cause our actual results and future experiences
      to differ materially from the anticipated results or other expectations
      expressed in these forward-looking statements. The risks and uncertainties that
      may affect our operations, performance, development and results include, but
      are
      not limited to, the following:





·
            whether
                our prototype system will perform as expected in commercial
                applications;




·
            our
                ability to obtain one or more third-party manufacturers for our system
                components and other products;




·
            the
                cost at which we will be able to have our system components and other
                products manufactured, if at all, and the time it will take to have
                our
                system components and other products
                manufactured;




·
            our
                ability to obtain all required components for our systems on a timely
                basis and at the prices we
                anticipate;




·
            whether
                our systems and products are viewed as providing the benefits we
                claim and
                whether these benefits are marketable by any customers we may seek
                to
                obtain;




·
            our
                ability to enter into service contracts with food processors, the
                time it
                takes for us to enter into any of these contracts and the prices
                we are
                able to charge these customers;




14


·
            our
                systems and products performing in the manner we expect in customer
                applications and without any material
                modifications;




·
            our
                ability to obtain all necessary governmental approvals for our systems
                and
                other products;




·
            whether
                we will be able to apply our technology to products other than fish
                and
                poultry or use our technology in any other
                fields;




·
            the
                pace at which we will utilize our existing working capital and whether
                our
                existing working capital will be sufficient for us to continue to
                develop
                our systems and products to the extent we
                anticipate;




·
            whether
                we will be able obtain additional financing to continue or expand
                operations and the terms on which we will be able to obtain this
                financing, if at all;




·
            our
                ability to protect our intellectual property and obtain and maintain
                patents and other protections for our intellectual
                property.




·
            the
                possible impact from competing products or
                technologies;




·
            possible
                reductions in consumer demand for fish and poultry, including as
                a result
                of any outbreaks of disease, including avian flu, or negative reports
                regarding the health benefits of fish and poultry;




·
            our
                ability to hire, train and retain a consistent supply of reliable
                and
                effective employees, both domestically and in any countries in which
                we
                might be able to install one of our processing
                system;




·
            the
                risk of non-payment by, and/or insolvency or bankruptcy of, any customers
                or others with indebtedness to us;




·
            the
                costs of complying with applicable labor laws and requirements, including,
                without limitation, with respect to health
                care;




·
            economic
                and political instability in foreign countries or restrictive actions
                by
                the governments of foreign countries in which we may seek to conduct
                our
                business or obtain customers;




·
            changes
                in tax laws or the laws and regulations governing food processing
                and on
                income generated outside the United
                States;




·
            general
                economic, business and social conditions in the United States and
                in
                foreign countries where we may conduct our
                business;




·
            fluctuation
                in interest rates, insurance, shipping, energy, fuel and other business
                utilities in any countries in which we conduct
                business;




·
            the
                stability of and fluctuations in currencies in which we conduct
                business;




·
            threats
                or acts of terrorism or war; strikes, work stoppages or slow downs
                by
                labor organizations in any countries in which we conduct business;
                and




15


·
            natural
                or man-made disasters that could adversely impact the industries
                or
                countries in which we conduct
                business.




Forward-looking
      statements made by us are based upon a knowledge of our business and the
      environment in which we operate. However, because of the factors listed above,
      actual results may differ from those in the forward-looking statements.
      Consequently, these cautionary statements qualify all of the forward-looking
      statements made in this report. We cannot assure you that the results or
      developments we anticipate will be realized or, even if substantially realized,
      that those results or developments will result in the expected consequences
      or
      otherwise affect us, our business or operations in the ways expected. You are
      cautioned not to place undue reliance on these forward-looking statements,
      which
      speak only as of their dates, or on any subsequent written and oral
      forward-looking statements attributable to us or persons acting on our behalf,
      all of which are expressly qualified in their entirety by these cautionary
      statements. Except to the extent required by law, we do not undertake any
      obligation to release or publish any revisions to our forward-looking
      statements, including without limitation those contained in this report, to
      reflect events or circumstances after the date of this report or to reflect
      the
      occurrence of unanticipated events.





**ITEM
      3.**  **CONTROLS
      AND PROCEDURES**





We
      maintain disclosure controls and procedures (as defined in Rule 13a-15(e) and
      Rule 15d-15(e) under the Securities Exchange Act of 1934, as amended, which
      we
      refer to as the Exchange Act) that are designed to ensure that information
      required to be disclosed in our periodic reports filed under the Exchange Act
      is
      recorded, processed, summarized and reported within the time periods specified
      in the rules and forms of the SEC, and that this information is accumulated
      and
      communicated to our management, including our principal executive/financial
      officer, to allow timely decisions regarding required disclosure.





Our
      management, with the participation and supervision of our Chief Executive
      Officer and Chief Financial Officer (“Certifying Officers”), evaluated the
      effectiveness of our disclosure controls and procedures as of the end of the
      period covered by this Quarterly Report on Form 10-QSB. In designing and
      evaluating the disclosure controls and procedures, management recognized that
      any controls and procedures, no matter how well designed and operated, can
      provide only reasonable assurance of achieving the desired control objectives.
      In addition, the design of disclosure controls and procedures must reflect
      the
      fact that there are resource constraints and that management is required to
      apply its judgment in evaluating the benefits of possible controls and
      procedures relative to their costs.





Based
      upon that evaluation, our Certifying Officers concluded that as of the end
      of
      the period covered by this Quarterly Report, our disclosure controls and
      procedures were not effective. Our primary deficiency has been in failing to
      timely file our periodic reports due to our limited number of personnel.





**Internal
      Control Over Financial Reporting**





Further,
      as required by Rule 13a-15(d) of the Exchange Act and under the supervision
      and
      with the participation of our Certifying Officers, we carried out an evaluation
      as to whether there has been any change in our internal control over financial
      reporting during our fiscal quarter ended March 31, 2007. Based upon this
      evaluation, we have concluded that there has not been any change in our internal
      control over financial reporting during our fiscal quarter that has materially
      affected, or is reasonably likely to materially affect, our internal control
      over financial reporting.


16


Internal
      control over financial reporting is a process designed by, or under the
      supervision of, our principal executive and principal financial officers, or
      persons performing similar functions, and effected by our board of directors,
      management and other personnel, to provide reasonable assurance regarding the
      reliability of financial reporting and the preparation of financial statements
      for external purposes in accordance with generally accepted accounting
      principles. Internal control over financial reporting includes those policies
      and procedures that: (i) pertain to the maintenance of records that in
      reasonable detail accurately and fairly reflect the transactions and
      dispositions of our assets; (ii) provide reasonable assurance that transactions
      are recorded as necessary to permit preparation of financial statements in
      accordance with generally accepted accounting principles, and that our receipts
      and expenditures are being made only in accordance with authorizations of our
      management and directors; and (iii) provide reasonable assurance regarding
      prevention or timely detection of unauthorized acquisition, use or disposition
      of our assets that could have a material effect on the financial
      statements.





**PART
      II - OTHER INFORMATION**





**ITEM
      1. LEGAL PROCEEDINGS**





We
      are
      not a party to any legal proceedings and, to our knowledge, no such proceedings
      are threatened or contemplated against us.





**ITEM
      2. UNREGISTERED SALES OF EQUITY SECURITIES**





**Sales
      of Unregistered Securities**





During
      the period covered by this Quarterly Report, we issued the following securities
      which were not registered under the Securities Act of 1933. We did not employ
      any form of general solicitation or advertising in connection with the offer
      and
      sale of the securities described below. In addition, we believe the purchasers
      of the securities are “accredited investors” for the purpose of Rule 501 of the
      Securities Act. For these reasons, among others, the offer and sale of the
      securities listed below were made in reliance on the exemption from registration
      provided by Section 4(2) of the Securities Act, Regulation D and/or Regulation
      S
      promulgated by the Securities and Exchange Commission under the Securities
      Act.





Common
      stock continues to be issued in accordance with the Media Agreement with Global
      Media Fund. On January 1, 2007, 41,667 shares were issued as one of the twelve
      installments of the quarterly commitment.





In
      the
      three months ended March 31, 2007, a total of 213,883 shares of common stock
      and
      40,501 warrants to purchase common stock were issued in private placements
      for
      total proceeds of $905,087, net of commissions of $57,350. All stock and unit
      sales were at $4.50 per share or unit. Of the 40,501 warrants issued 18,389
      warrants were issued with an exercise price of $5.00 and a term of 2 years
      and
      the remaining 22,112 warrants were issued with an exercise price of $7.00 and
      a
      term of 3 years.





In
      the
      three months ended March 31, 2007, a total of 179,433 shares of common stock
      and
      151,839 warrants were issued for services; 134,433 issued shares as compensation
      to consultants and 45,000 shares issued to employees under our 2006 Stock
      Incentive Plan. All such shares of common stock vested immediately upon
      issuance. Related expense of approximately $807,500 was recorded as operating
      expenses in the period ended March 31, 2007. Also 150,000 warrants were issued
      to a business advisor with an exercise price of $5.00 and a term of 5 years,
      and
      the remaining 1,839 were issued to a finder with an exercise price of $5.00
      and
      a term of 2 years.


17


**Purchases
      of Equity Securities**





We
      are
      required by the Securities Act of 1933 to disclose, in tabular format, any
      repurchases of our securities during this reporting period. We did not
      repurchase any of our securities during this reporting period, and accordingly,
      we have eliminated such table.





**ITEM
      3. DEFAULTS UPON SENIOR SECURITIES**





During
      the three month period ended March 31, 2007, there were no material defaults
      in
      the payment of principal or interest, a sinking or purchase fund installment,
      or
      any other material default not cured within 30 days or with the consent of
      the
      lender, with respect to any of our indebtedness exceeding 5% of our total
      assets.




**ITEM
      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**





**None**





**ITEM
      5. OTHER INFORMATION**





**(a)**  **Information
      Required To Be Disclosed In A Report On Form 8-K, But Not
      Reported**





**None**





**(b)**  **Item
      407(c)(3) of Regulation S-B**




During
      our fiscal quarter covered by this Quarterly Report on Form 10-QSB, there have
      not been any material change to the procedures by which our security holders
      may
      recommend nominees to our Board of Directors.


18


**ITEM
      6. EXHIBITS**





Exhibit
              No.
            
            Description3.1
                (1)
            
            Certificate
                of Amendment to Certificate of Incorporation dated August 18,
                2005.3.2
                (2)
            
            Certificate
                of Amendment to Certificate of Incorporation dated September 15,
                2005.3.3
                (3)
            
            Restated
                Certificate of Incorporation dated October 18, 2005.3.4
                (3)
            
            Second
                Amended and Restated Bylaws as of August 31, 2005.31.1*
            
            Certification
                of Chief Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a),
                as
                adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                2002.31.2*
            
            Certification
                of Chief Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a),
                as
                adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.32.1‡
            
            Certification
                of Chief Executive Officer and Chief Financial Officer pursuant to
                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
                906 of
                the Sarbanes-Oxley Act of 2002





*  Filed
      herewith


‡  Furnished
      herewith





(1)
            Filed
                on August 19, 2005 as an exhibit to Global Food’s Report on Form 8-K and
                incorporated herein by reference.





(2)
            Filed
                on October 6, 2005 as an exhibit to Global Food’s Report on Form 8-K and
                incorporated herein by reference.





(3)
            Filed
                on November 23, 2005 as an exhibit to Global Food’s Report on Form 10-QSB
                and incorporated herein by
                reference.




19




SIGNATURES





In
      accordance with the requirements of the Exchange Act, the registrant caused
      this
      report to be signed on its behalf by the undersigned, thereunto duly
      authorized.





GLOBAL
                FOOD TECHNOLOGIES, INC.Dated:
                May 15, 2008
            By:
            /s/
                Keith MeeksKeith
                Meeks, President andChief
                Executive Officer(PRINCIPAL
                EXECUTIVE OFFICER)Dated:
                May 15, 2008
            By:
            /s/
                Marshall F. SparksMarshall
                F. Sparks, Chief Financial Officer(PRINCIPAL
                ACCOUNTING OFFICER)


20