----

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**UNITED        STATES**

**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

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**FORM        10-QSB**

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| **[                  X ]** | **QUARTERLY                  REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES EXCHANGE ACT                  OF                  1934** |
|----------------------------|------------------------------------------------------------------------------------------------------------------------------------------|

**June        30,        2007**

| **[                    ]** | **TRANSITION                  REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES EXCHANGE ACT                  OF                  1934** |
|--------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

**Commission        file number**

**000-33309**

| **GLOBETRAC                  INC.**                                                                 |
|-----------------------------------------------------------------------------------------------------|
| (Exact                  name of small business issuer as specified in its                  charter) |

| **Delaware** (State                  or other jurisdiction ofincorporation                  or organization)                                                                      | **33-0953557**(I.R.S.                  EmployerIdentification                  No.) |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|
|  **1100                  Melville Street, Suite 600, Vancouver, British Columbia, V6E                  4A6**(Address                  of principal executive offices)             |
|  **1-800-648-4287**(Issuer’s                  telephone number)                                                                                                             |
|  ____________________________________________________________(Former                  name, former address and former fiscal year, if changed since last                  report) |

**[        X ] Yes [  ] No**

**[         ] Yes [ X ] No**

**APPLICABLE        ONLY TO CORPORATE ISSUERS**

| **Class**                                        |   | **Outstanding                  at August 9, 2007** |
|--------------------------------------------------|--------|----------------------------------------------------|
| Common                  Stock - $0.001 par value |   | 22,190,000                                         |

**Yes [  ] No [ X        ]**

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**PART        I - FINANCIAL INFORMATION**

**Item        1.**
**Financial        Statements.**

**GLOBETRAC        INC.**

**CONDENSED        CONSOLIDATED BALANCE SHEETS**

|                                                                                                        |   | **June                  30,** |       |   | **December                  31,** |   |
|-------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|--------|-----------------------------------|--------|
|                                                                                                        |   | **2007**                      |       |   | **2006**                          |   |
|                                                                                                        |   | **(Unaudited)**               |       |   |                              |   |
| **ASSETS**                                                                                                  |   |                          |       |   |                              |   |
|                                                                                                        |   |                          |       |   |                              |   |
| Current                  assets                                                                             |   |                          |       |   |                              |   |
|                                                                                                        |   |                          |       |   |                              |   |
| Cash                                                                                                        |   | $                             | 8,099      |   |                              | $      | 44,175 |   |
| Accounts                  receivable, net                                                                   |   |                          | 30,795     |   |                              |   | 45,676 |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| **TOTAL                  ASSETS**                                                                           |   | $                             | 38,894     |   |                              | $      | 89,851 |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| **LIABILITIES                  AND STOCKHOLDERS' DEFICIT**                                                  |   |                          |       |   |                              |   |   |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| Current                  liabilities                                                                        |   |                          |       |   |                              |   |   |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| Accounts                  payable and accrued liabilities                                                   |   | $                             | 142,772    |   |                              | $      | 159,383 |   |
| Convertible                  notes payable, including accrued interest                                      |   |                          | 1,946,262  |   |                              |   | 1,880,727 |   |
| Advances                  payable                                                                           |   |                          | 16,385     |   |                              |   | 16,385 |   |
| Due                  to related parties                                                                     |   |                          | 660,137    |   |                              |   | 634,961 |   |
| Note                  payable to related party                                                              |   |                          | 500,000    |   |                              |   | 500,000 |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
|                                                                                                        |   |                          | 3,265,556  |   |                              |   | 3,191,456 |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| Commitments                  and contingencies                                                              |   |                          |       |   |                              |   |   |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| Stockholders'                  deficit                                                                      |   |                          |       |   |                              |   |   |   |
| Preferred                  stock $0.001 par value, 5,000,000 authorized, none issued                        |   |                          |       |   |                              |   |   |   |
| and                  outstanding at June 30, 2007 and December 31, 2006                                     |   |                          |       |   |                              |   |   |   |
| Common                  stock $0.001 par value, 200,000,000 common shares                  authorized,      |   |                          |       |   |                              |   |   |   |
| 22,190,000                  issued and ourstanding at March 31, 2007 and December 31,                  2006 |   |                          | 22,190     |   |                              |   | 22,190 |   |
| Additional                  paid in capital                                                                 |   |                          | 1,167,085  |   |                              |   | 1,167,085 |   |
| Accumulated                  deficit                                                                        |   |                          | (4,429,751 | )      |                              |   | (4,310,003 | ) |
| Accumulated                  other comprehensive income                                                     |   |                          | 13,814     |   |                              |   | 19,123 |   |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| Total                  stockholders' deficit                                                                |   |                          | (3,226,662 | )      |                              |   | (3,101,605 | ) |
|                                                                                                        |   |                          |       |   |                              |   |   |   |
| Total                  liabilities and stockholders' deficit                                                |   | $                             | 38,894     |   |                              | $      | 89,851 |   |

**The        accompanying notes are an integral part of these unaudited condensed        consolidated financial statements.**

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**GLOBETRAC        INC.**

**CONDENSED        CONSOLIDATED STATEMENTS OF OPERATIONS**

**(UNAUDITED)**

|                                                                                                 |   | **Three                  Months Ended**         |       |   | **Six                  Months Ended**           |   |
|------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|------------|--------|-------------------------------------------------|--------|
|                                                                                                 |   | **June                  30,**    |       |   | **June                  30,**    |   |
|                                                                                                 |   | **2007**                                        |       |   | **2006**                                        |   |   | **2007** |   |   | **2006** |   |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |
| Royalty                  income                                                                      |   | $                                               | 15,046     |   |                                            | $      | 60,917 |   |   | $ | 36,338 |   |   | $ | 90,708 |   |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Operating                  expenses:                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| General                  and administrative                                                          |   |                                            | 32,137     |   |                                            |   | 26,230 |   |   |   | 56,918 |   |   |   | 59,290 |   |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss from continuing operations                                                 |   |                                            | (17,091    | )      |                                            |   | 34,687 |   |   |   | (20,580 | ) |   |   | 31,418 |   |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  expense                                                                    |   |                                            | (46,746    | )      |                                            |   | (36,828 | ) |   |   | (92,979 | ) |   |   | (73,271 | ) |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss from continuing operations before tax and                                  |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| discontinued                  operations                                                             |   |                                            | (63,837    | )      |                                            |   | (2,141 | ) |   |   | (113,559 | ) |   |   | (41,853 | ) |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Franchise                  tax                                                                       |   |                                            | (25        | )      |                                            |   | - |   |   |   | (6,189 | ) |   |   | - |   |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss from continuing operations before discontinued                  operations |   |                                            | (63,862    | )      |                                            |   | (2,141 | ) |   |   | (119,748 | ) |   |   | (41,853 | ) |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Loss                  from discontinued operations                                                   |   |                                            | -          |   |                                            |   | (10,261 | ) |   |   | - |   |   |   | (20,367 | ) |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss                                                                            |   | $                                               | (63,862    | )      |                                            | $      | (12,402 | ) |   | $ | (119,748 | ) |   | $ | (62,220 | ) |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss per share - basic and diluted                                              |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                  operations                                                               |   | $                                               | (0.00      | )      |                                            | $      | (0.00 | ) |   | $ | (0.01 | ) |   | $ | (0.00 | ) |
| Discontinued                  operations                                                             |   |                                            | (0.00      | )      |                                            |   | (0.00 | ) |   |   | (0.00 | ) |   |   | (0.00 | ) |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                 |   | $                                               | (0.00      | )      |                                            | $      | (0.00 | ) |   | $ | (0.01 | ) |   | $ | (0.00 | ) |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                 |   |                                            |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted                  average number of shares outstanding - basic and diluted                   |   |                                            | 22,190,000 |   |                                            |   | 22,190,000 |   |   |   | 22,190,000 |   |   |   | 22,190,000 |   |

**The        accompanying notes are an integral part of        these unaudited condensed consolidated financial        statements.**

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**GLOBETRAC        INC.**

**CONDENSED        CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT AND COMPREHENSIVE        INCOME**

**FOR        THE SIX MONTHS ENDED JUNE 30, 2007 AND 2006**

**(UNAUDITED)**

|                                                           |   | **Common                Stock Issued**   |       |   |       |   |   | **Accumulated** |   |   |            |   |
|----------------------------------------------------------------|--------|----------------------------------------------------|------------|--------|------------|--------|--------|-----------------|--------|--------|-----------------|--------|
|                                                           |   |                                               |       |   |       |   |   | **Additional**  |   |   |            |   |   | **Other** |   |   |   |   |
|                                                           |   | **Number                of**                       |       |   |       |   |   | **Paid-in**     |   |   | **Accumulated** |   |   | **Comprehensive** |   |   |   |   |
|                                                           |   | **Shares**                                         |       |   | **Amount** |   |   | **Capital**     |   |   | **Deficit**     |   |   | **Income** |   |   | **Total** |   |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |
| Balance,                January 1, 2006                        |   |                                               | 22,190,000 |   |       |   | 22,190 |            |   |   | 1,167,085       |   |   |   | (4,124,249 | ) |   |   | 27,379 |   |   |   | (2,907,595 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss for the six months ended,              |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      June                30, 2006     |   |                                               | -          |   |       |   | -      |            |   |   | -               |   |   |   | (62,220 | ) |   |   | - |   |   |   | (62,220 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign                currency translation adjustments        |   |                                               | -          |   |       |   | -      |            |   |   | -               |   |   |   | - |   |   |   | (4,604 | ) |   |   | (4,604 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                June 30, 2006                          |   |                                               | 22,190,000 |   |       | $      | 22,190 |            |   | $      | 1,167,085       |   |   | $ | (4,186,469 | ) |   | $ | 22,775 |   |   | $ | (2,974,419 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss for the six months ended,              |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      December                31, 2006 |   |                                               | -          |   |       |   | -      |            |   |   | -               |   |   |   | (123,534 | ) |   |   | - |   |   |   | (123,534 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign                currency translation adjustments        |   |                                               | -          |   |       |   | -      |            |   |   | -               |   |   |   | - |   |   |   | (3,652 | ) |   |   | (3,652 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                December 31, 2006                      |   |                                               | 22,190,000 |   |       |   | 22,190 |            |   |   | 1,167,085       |   |   |   | (4,310,003 | ) |   |   | 19,123 |   |   |   | (3,101,605 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                loss for the six months ended,              |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      June                30, 2007     |   |                                               | -          |   |       |   | -      |            |   |   | -               |   |   |   | (119,748 | ) |   |   | - |   |   |   | (119,748 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign                currency translation adjustments        |   |                                               | -          |   |       |   | -      |            |   |   | -               |   |   |   | - |   |   |   | (5,309 | ) |   |   | (5,309 | ) |
|                                                           |   |                                               |       |   |       |   |   |            |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                June 30, 2007                          |   |                                               | 22,190,000 |   |       | $      | 22,190 |            |   | $      | 1,167,085       |   |   | $ | (4,429,751 | ) |   | $ | 13,814 |   |   | $ | (3,226,662 | ) |

**The        accompanying notes are an integral part of these unaudited condensed        consolidated financial statements.**

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**GLOBETRAC      INC.**

**CONDENSED      CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(UNAUDITED)**

|                                                                                                                        |   | **Six                  Months Ended**    |     |
|-----------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|----------|
|                                                                                                                        |   | **June                  30,**            |     |
|                                                                                                                        |   | **2007**                                                |     |   | **2006** |   |
|                                                                                                                        |   |                                                    |     |   |   |   |
| Cash                  flows from operating activities:                                                                      |   |                                                    |     |   |   |   |
|                                                                                                                        |   |                                                    |     |   |   |   |
| Net                  loss                                                                                                   |   | $                                                       | (119,748 | ) |   | $ | (62,220 | ) |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Adjustments                  to reconcile net loss to net cash (used in) provided by operating                  activities: |   |                                                    |     |   |   |
| Accounts                  receivable                                                                                        |   |                                                    | 14,881   |   |   |   | (828 | ) |
| Accounts                  payable and accrued liabilities                                                                   |   |                                                    | (19,261  | ) |   |   | 841 |   |
| Due                  to related parties, including accrued interest                                                         |   |                                                    | 25,176   |   |   |   | 14,131 |   |
| Accrued                  interest payable on convertible notes                                                              |   |                                                    | 68,185   |   |   |   | 68,246 |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Net                  cash (used in) provided by operating activities                                                        |   |                                                    | (30,767  | ) |   |   | 20,170 |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Effects                  of foreign currency exchange rate                                                                  |   |                                                    | (5,309   | ) |   |   | (4,604 | ) |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Net                  (decrease) increase in cash                                                                            |   |                                                    | (36,076  | ) |   |   | 15,566 |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Cash,                  beginning of period                                                                                  |   |                                                    | 44,175   |   |   |   | 51,756 |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Cash,                  end of period                                                                                        |   | $                                                       | 8,099    |   |   | $ | 67,322 |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Supplemental                  disclosure of cash flow information:                                                          |   |                                                    |     |   |   |   |   |   |
| Cash                  paid during the period for:                                                                           |   |                                                    |     |   |   |   |   |   |
| Income                  taxes                                                                                               |   | $                                                       | 6,189    |   |   | $ | - |   |
| Interest                                                                                                                    |   | $                                                       | 2,650    |   |   | $ | - |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
|                                                                                                                        |   |                                                    |     |   |   |   |   |   |
| Non-cash                  changes in operating assets and liabilities:                                                      |   |                                                    |     |   |   |   |   |   |
| Advance                  receivable offset against accounts payable                                                         |   | $                                                       | 5,000    |   |   | $ | - |   |

**The          accompanying notes are an integral part of these unaudited condensed          consolidated financial statements.**

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**GLOBETRAC        INC.**

**NOTES        TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2007**

**(UNAUDITED)**

**NOTE        1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION**

**Nature        of Operations**

**Basis        of Presentation**

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**GLOBETRAC        INC.**

**NOTES        TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(UNAUDITED)**

**NOTE        2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

**Reclassifications**

**NOTE        3 - GOING CONCERN**

**NOTE        4 - CONVERTIBLE NOTES PAYABLE AND RELATED ACCRUED INTEREST DUE ON        DEMAND**

|                                                                                                         |   | **June                  30,****2007** |      |   | **December                  31,****2006** |   |
|--------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|-----------|--------|-------------------------------------------|--------|
|                                                                                                         |   |                                  |      |   |                                      |   |
| Notes                  payable due on demand, unsecured, bearing interest at 8% per                  annum,  |   |                                  |      |   |                                      |   |
| convertible                  into common shares of the Company at $0.50 per share at                  the    |   |                                  |      |   |                                      |   |
| option                  of the Company                                                                       |   | $                                     | 673,809   |   |                                      | $      | 673,809 |   |
|                                                                                                         |   |                                  |      |   |                                      |   |   |   |
| Notes                  payable due on demand, unsecured, bearing interest at 10% per                  annum, |   |                                  |      |   |                                      |   |   |   |
| convertible                  into common shares of the Company at the option of the                  Company |   |                                  |      |   |                                      |   |   |   |
| or                  the lender at market price less 20%, with a minimum conversion                  price    |   |                                  |      |   |                                      |   |   |   |
| of                  $0.15 per share                                                                          |   |                                  | 835,940   |   |                                      |   | 835,940 |   |
|                                                                                                         |   |                                  |      |   |                                      |   |   |   |
| Accrued                  interest due on demand                                                              |   |                                  | 436,513   |   |                                      |   | 370,978 |   |
|                                                                                                         |   |                                  |      |   |                                      |   |   |   |
| Total                  convertible notes payable and related accrued interest due on                  demand |   | $                                     | 1,946,262 |   |                                      | $      | 1,880,727 |   |

----

**GLOBETRAC        INC.**

**NOTES        TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(UNAUDITED)**

**NOTE        5 - ADVANCES PAYABLE**

**NOTE        6 - DUE TO RELATED PARTIES**

|                                                                                                                                 |   | **June                  30,****2007** |    |   | **December                  31,****2006** |   |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|--------|-------------------------------------------|--------|
|                                                                                                                                 |   |                                  |    |   |                                      |   |
| Due                  to companies sharing a common officer or director or controlled                  by an                  officer |   | $                                     | 177,692 |   |                                      | $      | 177,310 |   |
| Due                  to a director                                                                                                   |   |                                  | 13,766  |   |                                      |   | 13,766 |   |
| Due                  to a director                                                                                                   |   |                                  | 239,090 |   |                                      |   | 239,090 |   |
| Interest                  on note payable to a director (Note 7)                                                                     |   |                                  | 229,589 |   |                                      |   | 204,795 |   |
|                                                                                                                                 |   |                                  |    |   |                                      |   |   |   |
| Due                  to related parties                                                                                              |   | $                                     | 660,137 |   |                                      | $      | 634,961 |   |

**NOTE        7 - NOTE PAYABLE TO RELATED PARTY**

|                                                                                                       |   | **June                  30,****2007** |    |   | **December                  31,****2006** |   |
|------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|--------|-------------------------------------------|--------|
|                                                                                                       |   |                                  |    |   |                                      |   |
| Note                  payable, unsecured, bears interest at 10% per annum, originally                  due |   |                                  |    |   |                                      |   |
| November                  27, 2004, now due on demand                                                      |   | $                                     | 500,000 |   |                                      | $      | 500,000 |   |

**NOTE        8 - DISCONTINUED OPERATIONS**

----

**Item        2. Management’s Discussion and Analysis or Plan of        Operation**

**Forward-Looking        Statements**

**General**

----

**Our        Objectives and Areas of Focus**

**Challenges        and Risks**

**Critical        Accounting Policies and Estimates**

***Accounts        Receivable***

----

***Revenue        Recognition***

**Financial        Condition**

**Related-Party        Transactions**

----

**COMPARISON          OF THE THREE AND SIX MONTHS ENDED JUNE 30, 2007 AND 2006**

* *

----

**Off-Balance-Sheet        Arrangements**

**Liquidity        and Capital Resources**

**Net        Cash Used In Operating Activities**

**Net        Cash Provided By Financing Activities**

**Net        Cash Used In Investing Activities**

**Contingencies        and Commitments**

----

**Contractual        Obligations**

**Contractual          Payment Due by Period**

|                                           |   | **2007** |    |
|------------------------------------------------|--------|----------|---------|
|                                           |   |     |    |
| Note                  Payable to Related Party |   | $        | 729,589 |   |

**Internal        and External Sources of Liquidity**

**Inflation**

**Item        3. Controls and Procedures.**

**Disclosure        Controls and Procedures**

**Exchange Act**
**Evaluation        Date**

**Changes        in Internal Controls**

**PART        II - OTHER INFORMATION**

**Item        1. Legal Proceedings.**

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**Item        2. Unregistered Sale of Equity Securities and Use of        Proceeds.**

**Item        3. Defaults Upon Senior Securities.**

**Item        4. Submission of Matters to a Vote of Security Holders.**

**Item        5. Other Information.**

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**Item        6. Exhibits.**

| **(a)**     | **Index                to and Description of Exhibits**                                                                                                                                                                                                                                                                                                                                                                                                                       |   |        |
|-------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| **Exhibit** | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | **Status**  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 3.1    | Articles                  of Incorporation filed as an Exhibit to GlobeTrac’s registration statement                  on Form SB-2 filed on August 2, 2001, and incorporated herein by                  reference.                                                                                                                                                                                                                                                      |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 3.2         | Bylaws                  filed as an Exhibit to GlobeTrac’s registration statement on Form SB-2                  filed on August 2, 2001, and incorporated herein by                  reference.                                                                                                                                                                                                                                                                         |   | Filed       |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 3.3    | Certificate                  of Amendment to Articles of Incorporation changing the Issuer’s name to                  GlobeTrac Inc. filed as an exhibit to GlobeTrac’s Form 10-KSB filed on                  April 15, 2003, and incorporated herein by reference.                                                                                                                                                                                               |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 3.4    | Notification                  of Dissolution for Globetrac Limited dated March 14, 2007, filed                  as an                  exhibit to GlobeTrac’s Form 10-KSB filed on April 16, 2007, and                  incorporated herein by reference.                                                                                                                                                                                                               |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 10.1   | Master                  Distributorship Agreement dated June 19, 2002 among WebTech Wireless                  International, WebTech Wireless Inc. and Global Axxess Corporation                  Limited                  filed as an attached exhibit to GlobeTrac’s Form 8-K (Current Report)                  filed on September 11, 2002, and incorporated herein by                  reference.                                                                   |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 10.2   | Loan                  Agreement dated November 27, 2002 between GlobeTrac Inc. and David                  Patriquin with attached promissory note dated November 27, 2002                  filed as                  an exhibit to GlobeTrac’s Form 10-KSB (Annual Report) filed on April 15,                  2003, and incorporated herein by reference.                                                                                                              |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 10.3   | Amendment                  Letter Agreement dated June 4, 2003, between WebTech Wireless                  International Inc. and Globetrac Limited for the purpose of amending                  terms                  of the Master Distributorship Agreement filed as an exhibit to                  GlobeTrac’s                  Form 10-KSB (Annual Report) filed on April 7, 2004, and incorporated                  herein by reference.                          |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 10.4   | Amendment                  Letter Agreement dated March 8, 2004 between WebTech Wireless                  International Inc. and Globetrac Limited for the purpose of amending                  terms                  of the Master Distributorship Agreement filed as an exhibit to                  GlobeTrac’s                  Form 10-KSB (Annual Report) filed on April 7, 2004, and incorporated                  herein by reference.                          |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 10.5   | Letter                  Agreement dated November 26, 2004 among Global Axxess Corporation                  Limited,                  WebTech Wireless International and WebTech Wireless Inc., filed                  as an                  exhibit to GlobeTrac’s Form 8-K (Current Report) filed on December 22,                  2004, and incorporated herein by reference.                                                                                        |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 10.6   | Termination                  and Transfer Agreement dated November 1, 2004 among GlobeTrac Inc.,                  Global                  Axxess Corporation Limited, Globetrac Limited, WebTech Wireless                  Inc., and                  WebTech Wireless International, filed as an exhibit to GlobeTrac’s Form                  8-K (Current Report) filed on November 14, 2005, and incorporated                  herein                  by reference. |   | Filed  |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 14          | Code                  of Ethics filed as an exhibit to GlobeTrac’s Form 10-KSB filed on April                  15, 2003, and incorporated herein by reference.                                                                                                                                                                                                                                                                                                          |   | Filed       |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 31          | Certifications                  pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                                    |   | Included    |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |        |
| 32          | Certification                  pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                  906 of                  the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                    |   | Included    |

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**SIGNATURES**

|                                                   | **GLOBETRAC                INC.** |                                                                                                             |
|--------------------------------------------------------|-----------------------------------|------------------------------------------------------------------------------------------------------------------|
|                                                   |                              |                                                                                                             |   |
| Date:                  August 9,                  2007 | By:                               | /s/ John                daCosta                                                                             |   |
|                                                   |                              | Name:                John daCosta                                                            |   |
|                                                   |                              | Title: CEO                  and                  CFO(Principal Executive Officer andPrincipal Financial Officer) |   |