UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      D.C. 20549










FORM
      10-KSB/A


(MARK
                  ONE)x
              
              ANNUAL
                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT
                  OF 1934For
                  the fiscal year ended December 31, 2007ORo
              
              TRANSITION
                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                  ACT OF 1934For
                  the transition period from ___________ to
                  ___________




000-17874


(Commission
      file number)









GLOBAL
      AXCESS CORP


(Name
      of
      small business issuer in its charter)


NEVADA
              
              88-0199674State
                  or other jurisdiction of
              
              (I.R.S.
                  Employerincorporation
                  or organization)
              
              Identification
                  No.)7800
                  BELFORT PARKWAY, Suite 165JACKSONVILLE,
                  FLORIDA
              
              32256(Address
                  of principal executive offices)
              
              (Zip
                  Code)




(904)-280-3950


(Issuer's
      telephone number, including area code)





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


Securities
      registered pursuant to Section 12(g) of the Exchange Act: Common
      Stock







Check
      whether the Issuer is not required to file reports pursuant to Section 13 or
      15(d) of the Securities Exchange Act of 1934. o


Check
      whether the Issuer: (1) has filed all reports required to be filed by Section
      13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
      months
      (or for such shorter period that the Issuer was required to file such reports),
      and (2) has been subject to such filing requirements for the past 90 days.
      Yes
x No o


Check
      if
      there is no disclosure of delinquent filers in response to Item 405 of
      Regulation S-B not contained in this form, and no disclosure will be contained,
      to the best of the registrant’s knowledge, in definitive proxy or information
      statements incorporated by reference in Part III of this Form 10-KSB or any
      amendment to this Form 10-KSB. o


Indicate
      by check mark whether the registrant is a shell company (as defined by Rule
      12-b2 of the Exchange Act).  Yes
o
      No x





Issuer's
      Revenues for the fiscal year 2007 were: $21,750,897.





The
      aggregate market value of the Common Stock held by non-affiliates of the Issuer was
      $3,648,593 based upon closing sales price of Common Stock on OTC Bulletin
      Board on March 3, 2008 of $.25 per share.





As
      of
      March 3, 2008, the Issuer had 20,973,924 shares
      outstanding of the Common Stock
      ($0.001 par value) and no shares outstanding of the Preferred Stock ($0.001
      par value).









**Explanatory
      Note**




This
      Amendment No. 1 on Form 10-K/A to our annual
      report on Form 10-K for the fiscal year ended December 31, 2007 initially filed
      with the Securities and Exchange Commission on March 5, 2008 is being filed
      to
      correct the disclosure in Item 8A(T).




**Item
              8A(T).**
            **CONTROLS
                AND PROCEDURES**





**Evaluation
      of Disclosure Controls and Procedures and Changes in Internal Control over
      Financial Reporting**





Our
      management, with the participation of our chief executive officer and chief
      financial officer, evaluated the effectiveness of our disclosure controls and
      procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities
      Exchange Act of 1934, as amended (the “Exchange Act”)) as of December 31, 2007.
      In designing and evaluating our 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 their objectives
      and management necessarily applied its judgment in evaluating the cost-benefit
      relationship of possible controls and procedures. Based on this evaluation,
      our
      chief executive officer and chief financial officer concluded that, as of
      December 31, 2007, our disclosure controls and procedures were (1) effective
      in
      that they were designed to ensure that material information relating to us
      is
      made known to our chief executive officer and chief financial officer by others
      within the Company, as appropriate to allow timely decisions regarding required
      disclosures, and (2) effective in that they provide that information required
      to
      be disclosed by us in our reports that we file or submit under the Exchange
      Act
      is recorded, processed, summarized and reported within the time periods
      specified in the Securities and Exchange Commission’s rules and
      forms.





**Management’s
      Responsibility for Financial Statements**





Our
      management is responsible for the integrity and objectivity of all information
      presented in this Annual Report on Form 10-KSB. The consolidated financial
      statements were prepared in conformity with accounting principles generally
      accepted in the United States of America and include amounts based on
      management’s best estimates and judgments. Management believes the consolidated
      financial statements fairly reflect the form and substance of transactions
      and
      that the financial statements fairly represent the Company’s financial position
      and results of operations.





The
      Audit
      Committee of the Board of Directors, which is composed solely of independent
      directors, meets regularly with the Company’s independent registered public
      accounting firm and representatives of management to review accounting,
      financial reporting, internal control and audit matters, as well as the nature
      and extent of the audit effort. The Audit Committee is responsible for the
      engagement of the independent registered public accounting firm. The independent
      registered public accounting firm has free access to the Audit
      Committee.




Page
          2




**Management’s
      Report on Internal Control Over Financial Reporting**





Management
      of the Company is responsible for establishing and maintaining adequate internal
      control over financial reporting and for the assessment of the effectiveness
      of
      internal controls over financial reporting. The Company's internal control
      system over financial reporting is a process designed under the supervision
      of
      the Company's chief executive officer and chief financial officer to provide
      reasonable assurance regarding the reliability of financial reporting and the
      preparation of the consolidated financial statements in accordance with U.S.
      generally accepted accounting principles.





The
        Company's management, including its principal executive officer and principal
        financial officer, conducted an evaluation of the effectiveness of its internal
        control over financial reporting based on the framework in "Internal
        Control-Integrated Framework" issued by the Committee of Sponsoring
        Organizations of the Treadway Commission. Based on its evaluation under the
        framework in "Internal Control-Integrated Framework", the Company's management
        concluded that the Company's internal control over financial reporting was
        effective as of December 31, 2007.
 
 All
      internal control systems, no matter how well designed, have inherent
      limitations. Therefore, even those systems determined to be effective can
      provide only reasonable assurance with respect to financial statement
      preparation and presentation. Also, projections of any evaluation of
      effectiveness to future periods are subject to the risk that controls may become
      inadequate because of changes in conditions.


This
      annual report does not include an attestation report of the company's registered
      public accounting firm regarding internal control over financial reporting.
      Management's report was not subject to attestation by the company's registered
      public accounting firm pursuant to temporary rules of the SEC that permit the
      company to provide only management's report in this annual report.





**Changes
      in Internal Control Over Financial Reporting**





There
      were no changes during the quarter ended December 31, 2007 in our internal
      control over financial reporting or in other factors that materially affected,
      or are reasonably likely to materially affect, our internal controls over
      financial reporting.




Page
          3


**ITEM
                  13.**
                **EXHIBITS**
 
 (a)
                INDEX
                    TO EXHIBITS
  31.1
                
                Certification
                    of the Chief Executive Officer of Global Axcess Corp pursuant
                    to Section
                    302 of the Sarbanes-Oxley Act of 2002.31.2
                
                Certification
                    of the Chief Financial Officer of Global Axcess Corp pursuant
                    to Section
                    302 of the Sarbanes-Oxley Act of 2002.32.1
                
                Certification
                    of the Chief Executive Officer of Global Axcess, Inc. Pursuant
                    to 18
                    U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the
                    Sarbanes-Oxley Act of 2002.32.2
                
                Certification
                    of the Chief Financial Officer of Global Axcess, Inc., Pursuant
                    to 18
                    U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the
                    Sarbanes-Oxley Act of
                    2002.





Page
          4


SIGNATURES
 
 Pursuant
        to the requirements of the Securities Exchange Act of 1934, the Issuer
        has duly caused this report to be signed on its behalf by the undersigned,
        thereunto duly authorized on March 12, 2008.
 
 GLOBAL
                  AXCESS CORPBy:
              /s/
                  GEORGE A. MCQUAINGeorge
                  A. McQuainPresident
                  and Chief Executive Officer


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          5