SECURITIES AND
EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 10-KSB



[X] ANNUAL REPORT
UNDER SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE
ACT OF 1934



[ ] TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE
ACT OF 1934



For the fiscal year
ended: December 31, 2004



Commission file number
000-30567



GREM USA


(Exact name of
registrant as specified in its charter)



|Nevada                                     | 61-1427156           
|------------------------------------------ | ---------------------
|(State or
		other jurisdiction of          | (I.R.S.
		Employer   
|incorporation
		or organization)           | Identification
		No.)
|                                          
|19020 State Road 1                        
|Spencerville, Indiana                      | 46877                
|(Address of principal
		executive offices) | (zip
		code)         



Issuer's Telephone
Number: (260)238-2000



Securities registered
under Section 12(b) of the Exchange Act:

None



Securities registered
under Section 12(g) of the Exchange Act:

Common Stock, $0.001
par value

______________________________________________________________________________

(Title if Class)



Indicate by check
mark whether the registrant (a) 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 registrant was required to file
such reports), and (b) has been subject to such filing requirements for the past
90 days. Yes X    No



Indicate by check
mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-B
is not contained herein, and will not be contained, to the best of registrant's
knowledge, in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this Form 10-K. [   
]



The number of shares
of Common Stock, $0.001 par value, outstanding on April 15, 2005 was
1,212,678,764 shares, held by approximately 182 stockholders.

The issuer's revenues
for its most recent fiscal year ended December 31, 2004 were $-0-.



---



The aggregate market
value of the voting and non-voting common equity held by non-affiliates computed
by reference to the average bid and ask price, as of December 31, 2004 was
$316,788 based on a share value of $0.01.



Transitional Small
Business Disclosure Format (check one): Yes No X



---



GREM USA

(A DEVELOPMENT STAGE
COMPANY)

FOR THE FISCAL YEAR
ENDED

December 31, 2004



Index to Report

on Form 10-KSB



|PART I | Page(s)
|------ | -------



|Item 1. | Description of Business                               | 2-6
|------- | ----------------------------------------------------- | ---
|Item 2. | Description of Property                               | 6  
|Item 3. | Legal Proceedings                                     | 7  
|Item 4. | Submission of Matters to a
		Vote of Security Holders | 7  



PART II



|Item 5.  | Market for Registrant's
		Common Equity and Related Stockholder Matters                | 8-12 
|-------- | -------------------------------------------------------------------------------------- | -----
|Item 6.  | Plan of
		Operation                                                                    | 12-18
|Item 7.  | Financial Statements                                                                   | 18   
|Item 8.  | Changes in and Disagreements
		With Accountants on Accounting and Financial Disclosure | 19   
|Item 8A. | Controls and Procedures                                                                | 19   
|Item 8B. | Other Information                                                                      | 19   



PART III



|Item 9.  | Directors and Executive
		Officers, Promoters and Control Persons; Compliance with Section 16(A)
		of the Exchange Act. | 19-22
|-------- | ----------------------------------------------------------------------------------------------------------------------- | -----
|Item 10. | Executive Compensation                                                                                                  | 22-23
|Item 11. | Security Ownership of Certain
		Beneficial Owners and Management                                                        | 23-24
|Item 12. | Certain Relationships and
		Related Transactions                                                                        | 24   
|Item 13. | Exhibits                                                                                                                | 24   
|Item 14. | Principal
		Accountant Fees and Services                                                                                | 24-25



---



FORWARD-LOOKING
STATEMENTS



This document
contains "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than statements
of historical fact are "forward-looking statements" for purposes of federal and
state securities laws, including, but not limited to, any projections of
earnings, revenue or other financial items; any statements of the plans,
strategies and objections of management for future operations; any statements
concerning proposed new services or developments; any statements regarding
future economic conditions or performance; any statements or belief; and any
statements of assumptions underlying any of the foregoing.



Forward-looking
statements may include the words "may," "could," "estimate," "intend,"
"continue," "believe," "expect" or "anticipate" or other similar words. These
forward-looking statements present our estimates and assumptions only as of the
date of this report. Except for our ongoing securities laws, we do not intend,
and undertake no obligation, to update any forward-looking statement.



Although we believe
that the expectations reflected in any of our forward-looking statements are
reasonable, actual results could differ materially from those projected or
assumed in any or our forward-looking statements. Our future financial condition
and results of operations, as well as any forward-looking statements, are
subject to change and inherent risks and uncertainties. The factors impacting
these risks and uncertainties include, but are not limited to:

- our current lack
	of working capital;
- increased
	competitive pressures from existing competitors and new entrants;
- deterioration in
	general or regional economic conditions;
- adverse state or
	federal legislation or regulation that increases the costs of compliance, or
	adverse findings by a regulator with respect to existing operations;
- loss of customers
	or sales weakness;
- inability to
	achieve future sales levels or other operating results;
- the
	unavailability of funds for capital expenditures; and
- operational
	inefficiencies in distribution or other systems.

For a detailed
description of these and other factors that could cause actual results to differ
materially from those expressed in any forward-looking statement, please see
"Factors That May Affect Our Plan of Operation" in this document.



In this filing
references to "Grem," "Company," "we," "our," and/or "us," refers to GREM USA.



1

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PART I



ITEM 1. DESCRIPTION
OF BUSINESS



(a) Business
Development



We are a Nevada
corporation formed on March 26, 1999 under the name "Last Company Clothing,
Inc." to engage in the business of importing and wholesaling a line of clothing
to serve the retail trade known as the "action sports" or "extreme" sports
industry. On July 12, 2000, we entered into an agreement to acquire M-I Vascular
Innovations, Inc. and changed our name from "Last Company Clothing, Inc." to "MIVI
Biomedical Technologies, Inc." On November 16, 2000, we changed our name back to
our original name "Last Company Clothing, Inc." because the agreement to acquire
M-I Vascular Innovations, Inc. was cancelled. In March 2001 we acquired 100% of
Premier ASP, Inc. and on March 26, 2001, changed our name to "Premier Axium ASP,
Inc." On February 28, 2003, we amended our articles of incorporation and changed
our name from "Premier Axium ASP, Inc." to "Core Solutions, Inc." On May 2,
2003, we changed our name from "Core Solutions, Inc." to "Sunshine Ventures,
Inc." On June 10, 2003 we changed our name from "Sunshine Ventures, Inc." to
"Christine's Precious Petals, Inc." On August 15, 2003 we changed our name from
"Christine's Precious Petals, Inc." to "Global Business Markets, Inc." On
December 29, 2004, at our annual meeting of stockholders we approved a change of
name from "Global Business Markets, Inc." to "GREM USA".



During 2002, the
Company provided a comprehensive Human Resources outsourcing service, which
consisted of a Personnel Management System encompassing a broad range of
services, including benefits and payroll administration, medical and worker's
compensation insurance programs and performance and management services to small
and medium-sized business in the western United States.



In January 2003, the
Company discontinued its Human Resource services operations and decided to
change the direction of the business. The Company decided to reposition itself
as a designer and manufacturer of custom handmade and mass-produced electronic
and acoustic guitars, amplifiers, and accessories.



(b) Business of
Issuer



GREM USA is in the
development stage as a designer and manufacturer of custom handmade and mass-producted
electric and acoustic guitars, amplifiers and accessories. The Company teamed up
with Greg Reszel, an independent consultant, who will lead the design and
research and development of our products. Grem intends to position itself in the
niche market for handmade guitars blending exotic & domestic woods and new
designs.



Market Overview



The United States
retail market for music products in 2002 was estimated in a study by the
National Association of Music Merchants, or NAMM, to be approximately $7.0
billion in net sales, representing a five-year compound annual growth rate of
2.1%. The broadly defined music products market, according to NAMM, includes
retail sales of string and fretted instruments, sound reinforcement and
recording equipment, drums, keyboards, print music, pianos, organs, and school
band and orchestral instruments. Products currently offered by us include
categories of products which account for approximately $5.8 billion of the
estimated $7.0 billion of this market's sales, representing a five-year compound
annual growth rate of 6.2%. The music products market, as currently defined by
NAMM, however, does not include the significant used and vintage product markets
or apparel markets in which we anticipate to actively participate.



2

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Included in the $7.0
billion of estimated industry sales, is the school music market estimated at
$572 million in the United States and industry trends and positive demographic
trends suggest that the school music market will continue to grow. According to
published reports, school band enrollments have risen and publicity linking
music to improved academic performance and has improved prevailing attitudes
towards music and music education.



According to The
Music Trades magazine, the industry is highly fragmented with the nation's
five leading music products retailers, as measured by the amount of sales
generated by such retailers (i.e., Guitar Center, Brook Mays/H&H, Sam Ash Music
Corp., Hermes Music and Victor's House of Music), accounting for approximately
25.8% of the industry's estimated total sales in 2002. The list of leading
retailers excludes Mars Music, which was liquidated in the fourth quarter of
2002. There are approximately 8,400 retailers in the industry. According to
Music USA 2003, a typical music products store averages approximately 5,500
square feet and generates an average of approximately $1.2 million in annual net
sales.



Over the past decade,
technological advances in the industry have resulted in dramatic changes to the
nature of music-related products. Manufacturers have combined computers and
microprocessor technologies with musical equipment to create a new generation of
products capable of high grade sound processing and reproduction. Products
featuring those technologies are available in a variety of forms and have broad
application across most of our music product categories. Most importantly, rapid
technological advances have resulted in the continued introduction of higher
quality products offered at lower prices, and this trend is continuing. Today,
an individual consumer can affordably create a home recording studio which
interacts with personal computers and is capable of producing high-quality
digital recordings. Until recently, this type of powerful sound processing
capability was expensive and was typically purchased primarily by professional
sound recording studios.



Products and Services



We plan to have five
original prototypes that we are continuing to work on in research and
development. A summary of our initial products as of now is listed below. We
also plan to have a prototype titled Grem Standard in addition to those listed
below.



Free Radical is a
double cutaway design with a locking Floyd Rose vibrato bridge.  The body
is constructed of a solid Honduras mahogany back with a carved, book matched
purple heart top.  The neck is koa with a Brazilian rosewood fret board and
pearl dot inlays.



The Grem Reaper
is a takeoff of a familiar design and is given a wild twist and facelift.



3

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The Grem Reaper
features a mahogany body with a cherry neck and a purple heart fretboard. 
The finish is cobalt blue over gold flake and the instrument is carved and
embellished to look completely unique.



Grem's UpperCut
is our version of a time proven traditional solid body, except this model is
acoustically chambered under a maple cap.  The neck is 3 piece construction
with woods ranging from purple heart, maple and cherry to goncolo alves and
satinwood.  Fretboards are cochen rosewood, maple, ebony or purple heart. 
During August of 2004, an Upper Cut was presented to the band Dishwalla as a
gift.



Grem's Free
Ranger, also called the FT-101, is another version of a classic design,
except we have shrunk the scale to 24.62", and added "soapbars" to the middle
and neck positions. With the 3 way switch the tonal variation is incredible,
from bright twang to dirty P 90 blues. This guitar is suitable for slide, rock,
country or whatever your fingers like and the shorter scale makes for easy
vibrato and bends. The mahogany and purple heart hardwoods keep the tone as
chimey and clear as any 25 1/2" scale instrument. The body is petite and
contoured so it fits you like a glove. Also the neck on this guitar is attached
to the body with stainless allen head bolts that thread into inserts installed
in the neck. No more wood screws and with the torque you can apply to the neck
and it might as well be glued in.



Proposed Accessory
Items



In addition to our
custom handmade guitars, we intend to offer consumers related accessory items
including, but not limited to, guitar straps, picks, cases, amplifiers and
stands, which will all be custom made from our facility. We intend to carry a
relatively small inventory of these accessory items, at any given time.



Services



We will market our
guitars as a high quality, sophisticated, musical instrument. Consistent with
this marketing plan, we will provide our customers with a product warranty,
product satisfaction guarantee and related support regarding the use and
enjoyment of such product. We will warrant our guitars to be free from defects
in material and workmanship and will provide each purchaser of our guitars with
a one year warranty on parts and labor. During the effective warranty period, we
will remedy any product defects. Parts may be replaced under the warranty, at
our election, with new or comparable remanufactured parts. The warranty will not
extend however, to any guitar which has been subjected to usage for which the
product was not designed, which has been damaged as the result of shipping, or
which has been altered or repaired in a way that affects product performance or
reliability. To further insure customer satisfaction, we will also provide each
customer with a ten day money back guarantee, excluding shipping and handling.



Supplies and
Suppliers



The primary
components of our guitars will include electronics, hardware and guitar bodies.
These components will be manufactured for us by third parties. Initially, we
will assemble our guitars on site. We plan to review our manufacturing process
as demand for their product increase and may have manufacturing occur oversees
to take advantage of cost savings. We also intend to sell related accessories
manufactured for it by third parties such as speakers, amplifiers, stands,
straps, footrests and cases. Suppliers of component materials and accessories
will be chosen based on quality, service and price.



4

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The price of raw
materials for the manufacture of our guitars is expected to remain stable in the
near term. Increases that may occur are expected to be small; although no
assurance can be given that this will prove to be the case. Each category of raw
materials has several competing suppliers. We do not intend to be dependent upon
any one supplier for any of the raw materials that we intend to purchase. We
expect all required raw materials to be readily available in sufficient
quantities and to be of required quality. In the extreme situation, however,
were any required raw materials not to be generally available, it would have a
material adverse effect on our operations.



Competition



We reasonably expect
to compete with related or similar guitar, or guitar-like, instruments,
apparatus or devices. Moreover, prospective competitors which may enter the
field may include established manufacturers of musical or electronic audio
instruments and equipment, all of which will be considerably larger than we are
in total assets and resources. This could enable them to bring their own
technologies and instruments to advanced stages of development and marketing
with more speed and efficiency than we have been, or will be, able to apply to
the development and marketing of our guitars. There can be no assurance that we
will successfully compete with conventional guitars and existing electronic
guitar-like instruments or with any improved or new technology instrument which
may be developed in the future.



Government Regulation



There are no special
or unusual governmental laws or regulations that can be expected to materially
impact our operations.



Intellectual Property



We have not filed for
any patents or trademarks, and we have no license agreements for any of guitars
or our Company name. Although we believe we have obtained common law rights
outside that of the United States Patent and Trademark Office through the use of
the name "GREM USA" in connection with our business, our failure to obtain
proprietary protection in the future for the use of the name could negatively
impact our operations. In the near future, we intend to apply for a trademark
for "GREM USA."



Personnel



Beyond our sole
officer and director, we currently do not have any employees. We are providing
all staff through independent consultants who have received stock as
compensation for their services. Additional employees may be hired by us as
required for the operation of its business including those required for guitar
assembly. We anticipate that within the next twelve months we will be in the
process of hiring and could hire anywhere between twenty and thirty employees.
Management believes our future success will depend in large part upon our
ability to attract and retain qualified employees. Our employees will not be
represented by a union or collective bargaining entity.



5

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Consultants



On September 26,
2003, we entered into an oral consulting agreement with Stephen W. Carnes,
wherein he agreed to assist us with general business consulting services such as
assisting us and our management with evaluating prospective acquisition
candidate's business setup and operations, business management services and
other business related services. We issued Mr. Carnes a number of shares of the
Company's free trading common stock, par value $0.001 per share, that equaled
the sum of $50,000 per month. The agreement had an initial term of one year and
we continued the contract on a monthly basis as needed. Through December 31,
2004 we issued Mr. Carnes 8,110,000 shares of our common stock registered on
Form S-8.



On February 3, 2004,
we entered into an oral agreement with Equitilink, LLC, wherein Equitilink
agreed to assist us with public relations and corporate communications services
and communicate with our stockholders and the investment banking community. We
agreed to compensate and issue Equitilink a total of 25,000,000 restricted
shares of common stock. This agreement had a term of four months. This contract
was terminated prior to the expiration of four months.



On February 10, 2004,
we entered into a one-year oral consulting agreement with Gregory M. Reszel,
wherein he agreed to assist us with general business consulting services.
Services include, but were not limited, to assisting us and management with
various projects, design and fabrication of musical instruments, business
management services and other business related services. We agreed to compensate
and issue Mr. Reszel a number of shares of our free trading common stock, par
value $0.001 per share, that equals a $60,000 retainer fee and $5,000 per month.
The Shares were registered under S-8. Mr. Resnel has been a musician for over
thirty years and a luthier, someone who makes stringed musical instruments such
as violins or guitars, for over twenty years. Through December 31, 2004, we
issued Mr. Reszel 3,575,000 shares of our common stock registered on Form S-8.



Investment in
Technology



Grem has websites
displaying the initial designs of the guitars that will be sold and brand
descriptions, all of which can be accessed at www.gremusa.com, or
www.gmreszel.com. Information contained on these websites is for information
purposes only and is not a part of this report.



ITEM 2. DESCRIPTION
OF PROPERTY



During 2004, we
maintained our office at 3859 Wekiva Springs Road, Suite 302, Longwood, Florida
32779. The Company, in its efforts to minimize expenditures and increase
stockholder value, has opted to procure modest facilities for administrative
purposes only. The annual lease on the property was approximately $130 and the
Company planned on using the savings that would have been expended on more
lavish offices towards the aggregate cash flow of the Company for operational
purposes.



6

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In March 2005, it was
announced that Grem had recently signed an agreement on a manufacturing facility
in Northeast Indiana, located at 19020 State Road 1, Spencerville, Indiana
46877. This location will be the location of Grem's main office.The
building is approximately 12,500 square feet and is located on just over two
acres of land. Since the Company is still in its development state, our
President, Ed Miers, secured the lease of the facility. The approximate rent is
$3,800 a month and Mr. Miers will accrue the expense of the rent to be paid by
the Company once it has revenues to do so.



As a result of our
method of operations and business plan, we do not require full time personnel to
conduct our business. At present, management and consulting services are
provided by outside firms or independent contractors on an as needed basis. In
the future we anticipate requiring additional office space and additional
personnel; however it is unknown at this time how much space or how many
individuals will be required.



ITEM 3. LEGAL
PROCEEDINGS.



We are not presently
a party to any material litigation, nor to the knowledge of management is any
litigation threatened against us, which may materially affect us.



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



We held our annual
meeting of stockholders on December 29, 2004. Business conducted at the meeting
included the following proposals:

1. To elect new
	directors to serve until the next annual meeting or until their successors
	are elected and qualified; Ed Miers was re-elected to serve as the Company's
	sole director;
2. To approve the
	name change from Global Business Markets, Inc. to GREM USA.
3. To approve the
	amendment of Articles of Incorporation to reflect the name change and
	increase the total number of authorized shares of common stock from
	125,000,000 to 5,000,000,000.
4. To confirm the
	reaffirmation of Michael Johnson & Co., LLC as our independent auditors; and
5. To schedule the
	next annual meeting of the stockholders.

Each share of Common
Stock was entitled to one vote. Only stockholders of record at the close of
business on November 22, 2004, were entitled to vote. The number of outstanding
shares at the time was 114,678,762 held by approximately 177 stockholders. The
required quorum of stockholders was present at this meeting.



7

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Votes on the election
of a new director were as follows:



|Director | For        | Against | Abstentions
		and Broker Non-Votes
|-------- | ---------- | ------- | ----------------------------------
|Ed Miers | 90,000,000 | 0       | 24,678,762                        



PART II



ITEM 5. MARKET FOR
COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.



(a) Market
Information



Our common stock is
traded in the over-the-counter securities market through the National
Association of Securities Dealers Automated Quotations Bulletin Board System,
under the symbol "GRMU". Our common stock began quotation on the OTC Bulletin
Board on February 21, 2001 under the trading symbol "LCCP", and on March 29,
2001, following our name change to "Premier Axium ASP, Inc.", began quotation
under the new symbol "PAXM". On July 8, 2002, following a symbol change, began
quotation under the symbol "PAXU". On July 15, 2002, following a symbol change,
began quotation under the symbol "CSOU". On October 23, 2002, following a symbol
change, began quotation under the symbol "CSUO". On May 5, 2003, following our
name change from "Core Solutions Inc." to "Sunshine Ventures, Inc.", began
quotation under the symbol "SSHV". On July 14, 2003, following our name change
to "Christine's Precious Petals, Inc.", began quotation under the new symbol "CPCO".
On September 8, 2003, following our name change to "Global Business Markets,
Inc", began quotation under the symbol "GBMI". On November 2, 2004, following a
symbol change, we began quotation under the symbol "GBMK." On December 29, 2004,
following our name change to "GREM USA", we began quotation under the current
symbol "GRMU" The following table sets forth the quarterly high and low bid
prices for our Common Stock during our last two fiscal years, as reported by a
Quarterly Trade and Quote Summary Report of the OTC Bulletin Board. The
quotations reflect inter-dealer prices, without retail mark-up, markdown or
commission, and may not necessarily represent actual transactions.



|              | 2004    | 2003   
|------------- | ------- | -------
|              | High    | Low    
|1st
		Quarter | $0.009  | $0.0007
|2nd
		Quarter | $0.008  | $0.0004
|3rd
		Quarter | $0.0005 | $0.0001
|4th
		Quarter | $0.07   | $0.0001



On October 22, 2004,
the board approved a reverse spilt of all of our issued and outstanding shares
of common stock as of November 2, 2004 in the ratio of 1 for 200. The stock
ledger was recalculated to reflect this reverse spilt and any fractional shares
were rounded to the next whole share. This recalculation resulted in the
issuance of some additional shares due to the rounding to the next whole share.



On November 10, 2004,
the board approved an increase in authorized shares of common stock from
120,000,000 shares to 5,000,000,000 authorized shares. The amendment to the
articles of incorporation to increase the total number of authorized shares of
common stock was approved at the stockholder meeting held on December 29, 2004.



8

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(b) Holders of Common
Stock



As of December 31,
2004, we had approximately 178 stockholders of record of the 119,678,794 shares
outstanding.



(c) Dividends



We have never
declared or paid dividends on our Common Stock. We intend to follow a policy of
retaining earnings, if any, to finance the growth of the business and do not
anticipate paying any cash dividends in the foreseeable future. The declaration
and payment of future dividends on the Common Stock will be at the sole
discretion of the Board of Directors and will depend on our profitability and
financial condition, capital requirements, statutory and contractual
restrictions, future prospects and other factors deemed relevant.



(d) Securities
Authorized for Issuance under Equity Compensation Plans



The Company has
adopted various equity compensation plans and registered shares under these
plans on Form S-8. In February 2003, a 2003 benefit plan was adopted, which
consisted of 10,000,000 post-spilt shares of common stock. In August 2003, the
board adopted the 2003 Benefit Plan of Global Business Markets, Inc., which
allowed for the issuance of 60,000,000 post-split shares of common stock under
the plan. On February 2, 2004, the board adopted a 2004 Plan, which allowed for
the issuance of 7,500,000 post-spilt shares of common stock under the plan. The
following table outlines the shares registered on the various Form S-8's
reflecting the 200:1 reverse spilt that occurred as of November 2, 2004.



|Date Form S-8
		Filed | Number of
		Shares Registered | Name of Plan                                        
|--------------------- | ----------------------------- | ----------------------------------------------------
|March 3, 2003         | 10,000,000                    | 2003 Benefit
		Plan                                 
|September 26, 2003    | 1,250,000                     | 2003 Benefit
		Plan of Global Business Markets, Inc.
|February 13, 2004     | 7,500,000                     | 2004 Plan                                           
|August 27, 2004       | 12,500,000                    | 2004 Plan                                           
|November 3, 2004      | 50,000                        | 2004 Plan                                           
|February 9, 2005      | 500,000                       | 2004 Plan                                           



Recent Sales of
Unregistered Securities



We filed various
consultant and employee stock compensation plans registered on Form S-8 to
provide compensation to our independent contractors and consultants for their
services rendered for the Company. The shares were issued without restriction
and number of shares issued reflect the 200:1 reverse spilt that occurred as of
November 2, 2004.



9

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Steve Carnes



During Fiscal 2004 we
issued shares of our common stock to Mr. Carnes for services. The dates of the
issuances and number of shares issued is as follows:



|Date of
		Issuance | Number of
		Shares | S-8 Filing
		Date   
|------------------ | ------------------ | --------------------
|January 7, 2004    | 135,000            | September 26,
		2003
|February 25, 2004  | 250,000            | February 13,
		2004 
|March 10, 2004     | 1,000,000          | February 13,
		2004 
|March 23, 2004     | 1,250,000          | February 13,
		2004 
|May 10, 2004       | 1,475,000          | February 13,
		2004 
|September 7, 2004  | 4,000,000          | August 27,
		2004   



Greg Reszel



During Fiscal 2004 we
issued shares of common stock to Mr. Reszel for services. The dates of the
issuances and number of shares issued is as follows:



|Date of
		Issuance | Number of
		Shares | S-8 Filing
		Date  
|------------------ | ------------------ | -------------------
|February 25, 2004  | 350,000            | February 13,
		2004
|March 10, 2004     | 500,000            | February 13,
		2004
|March 23, 2004     | 500,000            | February 13,
		2004
|September 7, 2004  | 2,225,000          | August 27,
		2004  



Matt Lettau



During Fiscal 2004 we
issued shares of common stock to Mr. Lettau for his services. The dates of the
issuances and the number of shares issued is as follows.



|Date of
		Issuance | Number of
		Shares | S-8 Filing
		Date  
|------------------ | ------------------ | -------------------
|March 10, 2004     | 150,000            | February 13,
		2004
|September 7, 2004  | 625,000            | August 27,
		2004  



Irving Einhorn



During Fiscal 2004 we
issued shares of common stock to Mr. Einhorn for his legal services. The dates
of the issuances and the number of shares issued is as follows:



|Date of
		Issuance | Number of
		Shares | S-8 Filing
		Date  
|------------------ | ------------------ | -------------------
|April 12, 2004     | 125,000            | February 13,
		2004
|September 7, 2004  | 250,000            | August 27,
		2004  



C. Elaine Washburn



During Fiscal 2004 we
issued shares of common stock to Ms. Washburn for her services. The dates of the
issuances and the number of shares issued is as follows:



10

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|Date of
		Issuance | Number of
		Shares | S-8 Filing
		Date  
|------------------ | ------------------ | -------------------
|May 10, 2004       | 1,250,000          | February 13,
		2004
|September 7, 2004  | 2,500,000          | August 27,
		2004  



Marc Mero



During Fiscal 2004 we
issued shares of common stock to Mr. Mero for his services. The dates of the
issuances and the number of shares issued is as follows:



|Date of
		Issuance | Number of
		Shares | S-8 Filing
		Date  
|------------------ | ------------------ | -------------------
|May 10, 2004       | 150,000            | February 13,
		2004
|September 7, 2004  | 125,000            | August 27,
		2004  



On February 25, 2004,
the Company issued 500,000 shares of common stock to Michael Corrigan as
compensation for his previous legal services provided to the Company. The shares
were registered in a Registration Statement on Form S-8 filed on February 13,
2004.



On March 10, 2004,
the Company issued 250,000 shares of common stock to Franco Bottley for
compensation for his artwork services we anticipated to include in our
brochures. These shares were never given to Mr. Bottley and the Company plans to
cancel these shares. The shares were registered in a Registration Statement on
Form S-8 filed on February 13, 2004.



On September 7, 2004,
the Company issued 2,125,000 shares of common stock to Jeff Stahler as
compensation for his anticipated services of equipment installation. Mr. Stahler
never completed this service and we are currently looking in to our possible
recourse options for these shares. The shares were registered in a Registration
Statement on Form S-8 filed on August 27, 2004.



On September 7, 2004,
the Company issued 250,000 shares of common stock to Dennis Hickman for
compensation of his consulting services regarding the production of our guitar
cases and the operation of equipment for the cases. The shares were registered
in a Registration Statement on Form S-8 filed on August 27, 2004.



On September 7, 2004,
the Company issued 375,000 shares of common stock to Marilyn Corless as
compensation for her anticipated services of equipment installation with Mr.
Stahler. Ms. Corless never completed this service and we are currently looking
in to our possible recourse options for these shares. The shares were registered
in a Registration Statement on Form S-8 filed on August 27, 2004.



On November 29, 2004,
the Company issued 5,000,000 shares of common stock to Bernard Woods as
compensation for his assistance in installing and setting up a software system
that runs the equipment that produces our guitars. The shares were registered in
a Registration Statement on Form S-8 filed on November 3, 2004.



11

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Restricted Shares
Issued for Services



On February 25, 2004,
the Company issued 125,000 shares of restricted common stock to Equitlink as
agreed upon in their oral consulting agreement. We believe that the issuance of
the shares was exempt from the registration and prospectus delivery requirements
of the Securities Act of 1933 by virtue of Section 4(2). The shares were issued
directly by the Company and did not involve a public offering or general
solicitation.



ITEM 6. PLAN OF
OPERATION.



This report contains
forward-looking statements. Actual results and events could differ materially
from those projected, anticipated, or implicit, in the forward-looking
statements as a result of the risk factors set forth below and elsewhere in this
report.



With the exception of
historical matters, the matters discussed herein are forward-looking statements
that involve risks and uncertainties. Forward-looking statements include, but
are not limited to, statements concerning anticipated trends in revenues and net
income, the date of introduction or completion of our products, projections
concerning operations and available cash flow. Our actual results could differ
materially from the results discussed in such forward-looking statements
primarily as the result of insufficient cash to pursue production and marketing
efforts. The following discussion of our financial condition and results of
operations should be read in conjunction with our financial statements and the
related notes thereto appearing elsewhere herein.



Overview



We are a Nevada
corporation formed on March 26, 1999 under the name "Last Company Clothing,
Inc." which planned to engage in the business of importing and wholesaling a
line of clothing to serve the retail trade known as the "action sports" or
"extreme" sports industry. After a number of name changes, on December 29, 2004
at our annual meeting of stockholders we approved a change of name from "Global
Business Markets, Inc." to GREM USA. We are planning to reposition the company
as a designer and manufacturer of custom handmade and mass-produced electronic
and acoustic guitars, amplifiers, and accessories.



Plan of Operation



We are a development
stage company and have had no operating revenues since inception and have
financed all of our operations from loans, and sales of capital stock to
affiliated parties and private investors. We will continue to sell our capital
stock to help us complete the development of our first production models. We
will need to engage in additional research and development for the purpose of
further refining our instruments and simplifying the manufacturing process. We
hope to represent a new development respecting one of the world's oldest and
most popular musical instruments, the guitar.



Satisfaction of our cash obligations
for the next 12 months. We plan on satisfying our cash obligations over
the next twelve months through additional equity and/or third party financing.
Under our current plan of operation we do not have the minimal cash requirement
to continue in operation for the next 12 months without additional equity or
third party financing. We do not anticipate generating revenues sufficient
enough to satisfy our working capital requirements within the next twelve
months.



12

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Going Concern



The financial
statements included in this filing have been prepared in conformity with
generally accepted accounting principles that contemplate the continuance of the
Company as a going concern. The Company's cash position may be inadequate to pay
all of the costs associated with production and marketing. Management intends to
use borrowings and security sales to mitigate the effects of its cash position,
however no assurance can be given that debt or equity financing, if and when
required will be available. The financial statements do not include any
adjustments relating to the recoverability and classification of recorded assets
and classification of liabilities that might be necessary should the Company be
unable to continue existence.



Summary of any
product research and development that we will perform for the term of our plan
of operation. Mr. Reszel has been continually researching and developing
our initial prototypes. He will continually develop and fine tune our prototypes
to constantly improve the quality and sound of the guitar.



Expected purchase or
sale of plant and significant equipment. Mr. Reszel owns all the
significant equipment and tools that are used in producing these handmade
guitars. We anticipate either signing a lease for this equipment or possibly
purchasing the equipment once we are able to generate the cash to do so.



Significant changes
in the number of employees. As of December 31, 2004, we had no
employees. We are dependent upon Edward Miers our sole officer and director. We
will need to hire full time operational staff as our operations commence. We
anticipate the need for twenty to thirty employees to be fully operational.



Off-Balance Sheet
Arrangements



We do not have any
off-balance sheet arrangements that have or are reasonably likely to have a
current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources that is material to investors.



Liquidity and Capital
Resources



As a development
stage company, we do not have the cash flow to operate our business. We are
dependent on our sole officer and director, Ed Miers, to provide services and
cash until we are able to generate revenues. Until such time, we plan to accrue
the money expensed by Mr. Miers and will compensate him with either stock or
cash when available.



13

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A critical component
of our operating plan impacting our continued existence is the ability to obtain
additional capital through additional equity and/or debt financing. We do not
anticipate enough positive internal operating cash flow until such time as we
can generate substantial revenues, which may take the next few years to fully
realize. In the event we cannot obtain the necessary capital to pursue our
strategic plan, we may have to cease or significantly curtail our operations.
This would materially impact our ability to continue operations.



Our near term cash
requirements are anticipated to be offset through the receipt of funds from
private placement offerings and loans obtained through private sources. Since
inception, we have financed cash flow requirements through debt financing and
issuance of common stock for cash and services. As we expand operational
activities, we may continue to experience net negative cash flows from
operations, pending receipt of servicing or licensing fees, and will be required
to obtain additional financing to fund operations through common stock offerings
and bank borrowings to the extent necessary to provide working capital.



Over the next twelve
months we believe that existing capital and anticipated funds from operations
will not be sufficient to sustain operations and planned expansion.
Consequently, we will be required to seek additional capital in the future to
fund growth and expansion through additional equity or debt financing or credit
facilities. No assurance can be made that such financing would be available, and
if available it may take either the form of debt or equity. In either case, the
financing could have a negative impact on our financial condition and our
stockholders.



We anticipate
incurring operating losses over the next twelve months. Our lack of operating
history makes predictions of future operating results difficult to ascertain.
Our prospects must be considered in light of the risks, expenses and
difficulties frequently encountered by companies in their early stage of
development. Such risks include, but are not limited to, an evolving and
unpredictable business model and the management of growth. To address these
risks we must, among other things, obtain a customer base, implement and
successfully execute our business and marketing strategy, continue to develop
and upgrade technology and products, respond to competitive developments, and
attract, retain and motivate qualified personnel. There can be no assurance that
we will be successful in addressing such risks, and the failure to do so can
have a material adverse effect on our business prospects, financial condition
and results of operations.



FACTORS THAT MAY
AFFECT OUR PLAN OF OPERATION



An investment in our
common stock involves a high degree of risk. You should carefully consider the
risks described below and the other information in this annual report and any
other filings we have made in the past or that we may make with the United
States Securities and Exchange Commission in the future before investing in our
common stock. If any of the following risks occur, our business, operating
results and financial condition could be seriously harmed. The trading price of
our common stock could decline due to any of these risks, and you may lose all
or part of your investment.



14

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We have no operating history to use
to evaluate our business.



We have no operating
history for you to use to evaluate our business. We have devoted almost all of
our efforts to the repositioning our company as a designer and manufacturer of
custom handmade and mass-produced electronic and acoustic guitars, amplifiers
and accessories. We are in an early stage in our development and it is possible
that our products may not sell in the volumes or at the prices that we
anticipate, if at all. If that occurs, we would receive less than the projected
income from sales of its products and our profitability would suffer.



Our future success is
dependent on the performance and continued service of Edward Miers, and other
potential key employees and our ability to attract and retain skilled personnel.



Our performance and
future operating results are substantially dependent on the continued service
and performance of Edward Miers, our sole officer and sole director. To the
extent that Mr. Miers' services become unavailable, our business and prospects
may be adversely affected. Should we not be able to retain Mr. Miers' services,
we do not know whether an equally qualified person could be employed to replace
Mr. Miers. If we are successful in implementing and developing our business, it
will require additional managerial and technical personnel. Competition for
highly qualified personnel is intense, and we cannot assure that we can retain
our key employees or that it will be able to attract or retain highly qualified
technical and managerial personnel in the future. The loss of the services of
any of our management or other key employees and the potential inability to
attract and retain the necessary technical and managerial personnel could have a
material adverse effect on our financial condition, operating results, and cash
flows.



Risks Related To Our
Financial Condition



We will need
additional financing which may not be available and, if available, might only be
available on unfavorable terms.



We currently have no
operating capital making it necessary for us to raise funds through further
equity or debt financings until such time, if ever, as we are able to operate
profitably. There is no assurance that we will be able to obtain it on terms
beneficial to us, if at all.



We expect a
substantial increase in expenses and may not achieve significant profitability,
this may cause our stock price to fall.



Because we are in the
early stage of development, we expect to continue to incur operating losses and
to have a negative cash flow unless and until it is able to generate substantial
revenues and reach profitability. We expect that during the next twelve months,
as we try to develop and launch our products; our operating expenses will be
increasing, especially in the areas of development, sales and marketing and
brand promotion. We anticipate that we will have to incur substantial costs and
expenses related to:

- hiring additional
	executive and administrative personnel, and additional product development
	personnel;

15

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- continued
	development of our guitars and the development of proposed accessory
	products;
- advertising,
	marketing, and promotional activities.

The extent of our
losses in the future will depend on our ability to commence commercial
operations and generate revenues on a profitable basis. To do so, we will have
to develop and implement successful manufacturing, sales, and marketing programs
for our guitars. No assurance can be given that we will be able to achieve this
objective or that, if this objective is achieved, that we will ever be
profitable. Our ability to achieve sustained profitability will depend on our
ability to generate and sustain substantial revenues while maintaining
reasonable expense levels. Although we intend to increase our spending on the
activities listed above, these efforts may not result in the generation of
sufficient revenues. If revenues are not generated, this may have a subsequent
impact on our stock price.



We are subject to a
working capital deficit, which means that our current assets on December 31,
2004 were not sufficient to satisfy our current liabilities and, therefore, our
ability to continue operations is at risk.



We had a working
capital deficit for the year ended December 31, 2004, which means that our
current liabilities exceeded our current assets on December 31, 2004 by
$605,477. As of December 31, 2004, we had zero current assets. Current assets
are assets that are expected to be converted to cash within one year. Our
working capital deficit means that our current assets on December 31, 2004 were
not sufficient to satisfy all of our current liabilities on those dates. If our
ongoing operations do not begin to provide sufficient profitability to offset
the working capital deficit, we may have to raise capital or debt to fund the
deficit or curtail future operations. If we fail to establish profitable
operations and continue to incur losses; the price of our common stock could be
expected to fall.



We received an
opinion from our accountants which raises doubt about our ability to continue as
a Going Concern.



Our audited financial
statements for the year ended December 31, 2004, which are included in this
filing, indicate that there was substantial doubt about our ability to continue
as a going concern due to our need to generate cash from operations and obtain
additional financing.



Risks Related To Our
Common Stock



Our common stock is
illiquid and the price of our common stock may be negatively impacted by factors
which are unrelated to our operations.



Our common stock
currently trades on a limited basis on the OTC Bulletin Board. The market price
of our common stock could fluctuate substantially due to a variety of factors,
including market perception of our ability to achieve our planned growth,
quarterly operating results of other companies, trading volume in our common
stock, changes in general conditions in the economy and the financial markets or
other developments affecting our competitors or us. In addition, the stock
market is subject to extreme price and volume fluctuations. This volatility has
had a significant effect on the market price of securities issued by many
companies for reasons unrelated to their operating performance and could have
the same effect on our common stock.



16

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Our common shares are
currently listed for public trading on the OTC Bulletin Board. The trading price
of our common shares has been subject to wide fluctuations. Trading prices of
our common shares may fluctuate in response to a number of factors, many of
which will be beyond our control. The stock market has generally experienced
extreme price and volume fluctuations that have often been unrelated or
disproportionate to the operating performance of companies, especially those
with no current business operation. There can be no assurance that trading
prices and price earnings ratios previously experienced by our common shares
will be matched or maintained. These broad market and industry factors may
adversely affect the market price of our common shares, regardless of our
operating performance.



In the past,
following periods of volatility in the market price of a company's securities,
securities class-action litigation has often been instituted. Such litigation,
if initiated, could result in substantial costs for us and a diversion of
management's attention and resources.



A decline in the
price of our common stock could affect our ability to raise further working
capital and adversely impact our ability to continue our normal operations.



A prolonged decline
in the price of our common stock could result in a reduction in the liquidity of
our common stock and a reduction in our ability to raise capital. Because our
operations have been primarily financed through the sale of equity securities, a
decline in the price of our common stock could be especially detrimental to our
liquidity and our operations. Such reductions would force us to reallocate funds
from other planned uses and would have a significant negative effect on our
business plans and operations, including our ability to develop new products and
continue our current operations. If our stock price declines, there can be no
assurance that we can raise additional capital or generate funds from operations
sufficient to meet our obligations. If we are unable to raise sufficient capital
in the future, we may not be able to have the resources to continue our normal
operations.



Because our common
stock is deemed a low-priced "Penny" stock, an investment in our common stock
should be considered high risk and subject to marketability restrictions.



Since our common
stock is a penny stock, as defined in Rule 3a51-1 under the Securities Exchange
Act, it will be more difficult for investors to liquidate their investment.
Until the trading price of the common stock rises above $5.00 per share, if
ever, trading in our common stock is subject to the penny stock rules of the
Securities Exchange Act specified in rules 15g-1 through 15g-10. Those rules
require broker-dealers, before effecting transactions in any penny stock, to:

- Deliver to the
	customer, and obtain a written receipt for, a disclosure document;
- Disclose certain
	price information about the stock;
- Disclose the
	amount of compensation received by the broker-dealer or any associated
	person of the broker-dealer;

17

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- Send monthly
	statements to customers with market and price information about the penny
	stock; and
- In some
	circumstances, approve the purchaser's account under certain standards and
	deliver written statements to the customer with information specified in the
	rules.

Consequently, the
penny stock rules may restrict the ability or willingness of broker-dealers to
sell the common stock and may affect the ability of holders to sell their common
stock in the secondary market and the price at which such holders can sell any
such securities. These additional procedures could also limit our ability to
raise additional capital in the future.



NASD sales practice
requirements may also limit a stockholder's ability to buy and sell our stock.



In addition to the
"penny stock" rules described above, the National Association of Securities
Dealers (NASD) has adopted rules that require that in recommending an investment
to a customer, a broker-dealer must have reasonable grounds for believing that
the investment is suitable for that customer. Prior to recommending speculative
low priced securities to their non-institutional customers, broker-dealers must
make reasonable efforts to obtain information about the customer's financial
status, tax status, investment objectives and other information. Under
interpretations of these rules, the NASD believes that there is a high
probability that speculative low priced securities will not be suitable for at
least some customers. The NASD requirements make it more difficult for
broker-dealers to recommend that their customers buy our common stock, which may
limit your ability to buy and sell our stock and have an adverse effect on the
market for our shares.



Our sole director and
executive officer, Mr. Edward Miers, beneficially owns a substantial amount of
our common stock.



Accordingly, he will
be able to exert significant influence over the direction of our affairs and
business, including any determination with respect to our acquisition or
disposition of assets, future issuances of common stock or other securities, and
the election or removal of directors. Such a concentration of ownership may also
have the effect of delaying, deferring, or preventing a change in control of the
Company or cause the market price of our stock to decline. Notwithstanding the
exercise of their fiduciary duties by the directors and executive officers and
any duties that such other stockholder may have to us or our other stockholders
in general, these persons may have interests different than yours.



ITEM 7. FINANCIAL
STATEMENTS.



See Index to
Financial Statements and Financial Statement Schedules appearing on page F-1
through F-11 of this Form 10-KSB.



18

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ITEM 8. CHANGES IN
AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.



We have had no
disagreements with our independent auditors on accounting or financial
disclosures.



ITEM 8A. CONTROLS AND
PROCEDURES.



We maintain
disclosure controls and procedures designed to ensure that information required
to be disclosed in reports filed under the Securities Exchange Act of 1934, as
amended, is recorded, processed, summarized and reported within the specified
time periods. As of the end of the period covered by this Annual Report, Mr.
Edward Miers, our sole officer, evaluated the effectiveness of our disclosure
controls and procedures. Based on the evaluation, which disclosed no significant
deficiencies or material weaknesses, Mr. Miers, concluded that our disclosure
controls and procedures are effective. There were no changes in our internal
control over financial reporting that occurred during our most recent fiscal
quarter that have materially affected, or are reasonably likely to materially
affect, our internal control over financial reporting.



ITEM 8B. OTHER
INFORMATION.



Since the Company's
inception there have been several name changes. Although, the name changes were
properly reflected in filings made with the State of Nevada, not all of the name
changes were in accordance with the rules promulgated under Section 14 of the
Securities Exchange Act of 1934, as amended. The following name changes did not
satisfy the rules under Section 14 and were not done by stockholder approval:
Last Clothing Company, Inc. to MIVI Biomedical Technologies, Core Solutions,
Inc. to Sunshine Ventures, Inc., Sunshine Ventures, Inc. to Christine Precious
Petals, Inc., and Christine Precious Petals, Inc. to Global Business Markets,
Inc. At this time the Company is unaware of any consequences of the actions
taken above; however, should a problem arise or the SEC seek potential
violations against the Company, it may have a material adverse effect on our
operations.



PART III



ITEM 9. DIRECTORS,
EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(A)
OF THE EXCHANGE ACT.



The following table
sets forth the names and positions of the executive officers and directors of
the Company. Directors will be elected at our annual meeting of stockholders and
serve for one year or until their successors are elected and qualify. Officers
are elected by the Board and their terms of office are, except to the extent
governed by employment contract, at the discretion of the Board.



|Name         | Age | Positions and
		Offices held                                                     
|------------ | --- | ---------------------------------------------------------------------------------
|Edward Miers | 41  | CEO, President, Principal
		Accounting Officer, Secretary, Treasurer and Director



19

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Duties, Responsibilities and
Experience



Edward Miers, 
age 41,is Chief Executive Officer, President, Secretary/Treasurer and
Director of the Company. Prior to his position at GREM USA, Mr. Miers operated
two private business ventures related to the music industry, Miers Systems, Inc.
and Summit Sound, Inc. Miers Systems produced audio amplifiers and Summit Sound
was a retailer of guitars, amplifiers, and professional audio equipment. Mr.
Miers was also an owner of a private company that did investor relations and
public relations. Mr. Miers does not serve on the board of directors for any
other public company.



Election of Directors
and Officers.



Directors are elected
to serve until the next annual meeting of shareholders and until their
successors have been elected and qualified. Officers are appointed to serve
until the meeting of the Board of Directors following the next annual meeting of
shareholders and until their successors have been elected and qualified.



No Executive Officer
or Director of the Corporation has been the subject of any Order, Judgment, or
Decree of any Court of competent jurisdiction, or any regulatory agency
permanently or temporarily enjoining, barring suspending or otherwise limiting
him from acting as an investment advisor, underwriter, broker or dealer in the
securities industry, or as an affiliated person, director or employee of an
investment company, bank, savings and loan association, or insurance company or
from engaging in or continuing any conduct or practice in connection with any
such activity or in connection with the purchase or sale of any securities.



No Executive Officer
or Director of the Corporation has been convicted in any criminal proceeding
(excluding traffic violations) or is the subject of a criminal proceeding which
is currently pending.



No Executive Officer
or Director of the Corporation is the subject of any pending legal proceedings.



Section 16(a)
Beneficial Ownership Reporting Compliance



Section 16(a) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), requires our
executive officers and directors, and persons who beneficially own more than ten
percent of our common stock, to file initial reports of ownership and reports of
changes in ownership with the SEC. Executive officers, directors and greater
than ten percent beneficial owners are required by SEC regulations to furnish us
with copies of all Section 16(a) forms they file. Based upon a review of the
copies of such forms furnished to us and written representations from our
executive officers and directors, we believe that during the year ended 2004,
Edward Miers filed all forms 3, forms 4 and forms 5 on a timely basis.



20

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Audit Committee and
Financial Expert



We do not have an
Audit Committee, Mr. Edward Miers, our sole director, performs some of the same
functions of an Audit Committee, such as: recommending a firm of independent
certified public accountants to audit the annual financial statements; reviewing
the independent auditors independence, the financial statements and their audit
report; and reviewing management's administration of the system of internal
accounting controls. The Company does not currently have a written audit
committee charter or similar document.



We have no financial
expert. We believe the cost related to retaining a financial expert at this time
is prohibitive. Further, because of our start-up operations, we believe the
services of a financial expert are not warranted.



Code of Ethics



A code of ethics
relates to written standards that are reasonably designed to deter wrongdoing
and to promote:

1. Honest and
	ethical conduct, including the ethical handling of actual or apparent
	conflicts of interest between personal and professional relationships;
2. Full, fair,
	accurate, timely and understandable disclosure in reports and documents that
	are filed with, or submitted to, the Commission and in other public
	communications made by an issuer;
3. Compliance with
	applicable governmental laws, rules and regulations;
4. The prompt
	internal reporting of violations of the code to an appropriate person or
	persons identified in the code; and
5. Accountability
	for adherence to the code.

We have not adopted a
corporate code of ethics that applies to our principal executive officer,
principal financial officer, principal accounting officer or controller, or
persons performing similar functions in that our sole officer and director
serves in all the above capacities.



Our decision to not
adopt such a code of ethics results from our having only one officer and
director operating as the sole management for the Company. We believe that as a
result of the limited interaction, which occurs having a sole officer and
director for the Company eliminates the current need for such a code, in that
violations of such a code would be reported to the party generating the
violation.



Nominating
Committee







Limitation of
Liability of Directors



Pursuant to the
Nevada General Corporation Law, our Articles of Incorporation exclude personal
liability for our Directors for monetary damages based upon any violation of
their fiduciary duties as Directors, except as to liability for any breach of
the duty of loyalty, acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law, or any transaction from
which a Director receives an improper personal benefit. This exclusion of
liability does not limit any right which a Director may have to be indemnified
and does not affect any Director's liability under federal or applicable state
securities laws. We have agreed to indemnify our directors against expenses,
judgments, and amounts paid in settlement in connection with any claim against a
Director if he acted in good faith and in a manner he believed to be in our best
interest.



ITEM 10. EXECUTIVE
COMPENSATION



(a) General



The following table
sets forth information concerning the total compensation that we have paid or
that has accrued on behalf of our chief executive officer and other executive
officers with annual compensation exceeding $100,000 during the most recent
fiscal year ending December 31, 2004 and for the fiscal years ending December
31, 2003 and 2002. The remuneration described in the table does not include the
cost of GREM USA's benefits furnished to the named executive officers, including
premiums for health insurance and other benefits provided to such individuals
that are extended in connection with the conduct of GREM USA's business.



(b) Summary
Compensation Table



|                               |      | Annual Compensation | Long Term Compensation
|------------------------------ | ---- | ------------------- | ----------------------
|                               |      |                     |                       
|Name and
			Principal Position | Year | Salary              | Bonus                 

|Edward Miers
		Chief Executive Officer and
		President | 2004
		
		2003 | $700,000(1)
		$-0- | -0-
		
		-0- | -0-
		
		-0-   | -0-
		
		88,000,000 | -0-
		
		-0- | -0-
		
		-0- | -0-
		
		-0-
|------------------------------------------------------ | -------------- | ------------------ | ------------ | -------------- | ------------------- | ------------ | ------------ | ------------
|Christine Favara,
		Former CEO and President           | 2003           | $-0-               | -0-          | 2,500
		Shares | -0-                 | -0-          | -0-          | -0-         
|Tracey Haggerty,
		Former Secretary/ Treasurer         | 2003           | $44,000            | -0-          | -0-            | -0-                 | -0-          | -0-          | -0-         
|Gregory Chimelewski, Former
		Vice-President           | 2003
		2002    | $-0-
		$80,000     | -0-
		-0-    | -0-
		-0-      | -0-
		-0-           | -0-
		-0-    | -0-
		-0-    | -0-
		-0-   



22

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1. During the
		fiscal year ended December 31, 2004 our sole officer and director did
		not receive monetary compensation for his services as an officer or
		director, however, on February 10, 2005, he did receive 1,000,000,000
		shares of the Company's common stock in exchange for part of his accrued
		salary of $700,000. The shares were for satisfaction of $300,000 of his
		accrued salary. At this time we do not have a formalized employment
		contract with Mr. Miers but intend to draft one.

Termination of
Employment



There are no
compensatory plans or arrangements, including payments to be received from the
Company, with respect to any person associated with the Company which would in
any way result in payments to any such person because of his resignation,
retirement, or other termination of such person's employment with the Company or
its subsidiaries, or any change in control of the Company, or a change in the
person's responsibilities following a change in control of the Company.



Compensation
Committee



We currently do not
have a compensation committee of the board of directors. However, the board of
directors intends to establish a compensation committee, which is expected to
consist of three inside directors and two independent members. Until a formal
committee is established, our sole director, Edward Miers, will review all forms
of compensation provided to our executive officers, directors, consultants and
employees including stock compensation and loans.



ITEM
				11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
				MANAGEMENT



The following table
presents information, to the best of our knowledge, about the beneficial
ownership of our common stock on April 15, 2005, held by those persons known to
beneficially own more than 5% of our capital stock and by our directors and
executive officers.



The percentage of
beneficial ownership for the following table is based on 1,212,678,764 shares of
common stock outstanding as of April 15, 2005. Beneficial ownership is
determined in accordance with the rules of the Securities and Exchange
Commission and does not necessarily indicate beneficial ownership for any other
purpose. Under these rules, beneficial ownership includes those shares of common
stock over which the stockholder has sole or shared voting or investment power.
It also includes (unless footnoted) shares of common stock that the stockholder
has a right to acquire within 60 days after April 15, 2005 through the exercise
of any option, warrant or other right. The percentage ownership of the
outstanding common stock, however, is based on the assumption, expressly
required by the rules of the Securities and Exchange Commission, that only the
person or entity whose ownership is being reported has converted options or
warrants into shares of our common stock.



23

---



|Name and
		Address of Beneficial Owner(1),Officer, or
		Director | Number
		of Shares | Percent of
		Ownership
		(2)
|---------------------------------------------------------------- | ------------------ | ----------------------------
|Edward Miers
		President, CEO, Secretary,
		Treasurer, Director  | 1,088,000,000      | 89.7%                       
|                                                                 |                    |                             
|Total of all Officers,
		Directors, and Beneficial Owners        | 1,088,000,000      | 89.7%                       

1. As used in this
	table, "beneficial ownership" means the sole or shared power to vote, or to
	direct the voting of, a security, or the sole or shared investment power
	with respect to a security (i.e., thepower to dispose of, or to
	direct the disposition of, a security). All addresses are care of the
	Company, 19020 State Road 1, Spencerville, Indiana 46877.
2. Figures are
	rounded to the nearest tenth of a percent.

ITEM 12. CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS



On July 29, 2003,
Christine Favara, sold her controlling interest in the Company to Edward Miers
on terms set forth in the Stock Purchase Agreement (Exhibit "A") which was
attached to the Form 8-K filed on August 11, 2003 and is incorporated by
reference. In exchange for the controlling interest owned by Christine Favara,
Edward Meirs paid consideration equal to $50,000 as set forth in the Stock
Purchase Agreement.



Edward Meirs received
beneficial ownership of approximately 77% of the issued and outstanding common
stock of the Company. On July 29, 2003, pursuant to the agreement to sell
control of the Company to Mr. Meirs, Christine Favara nominated Edward Meirs as
sole officer and director of the Company. Edward Meirs accepted the appointment.
Immediately following the election of Mr. Meirs as an officer and director of
the Company, Christine Favara resigned her position as a officer and director of
the Company. Mr. Miers was the sole officer and director of the Company.



We are and will
continue to be dependent on our sole officer and director, Ed Miers, to provide
services and cash until we are able to generate revenues. Until such time, we
plan to accrue the money expensed by Mr. Miers and will compensate him with
either stock or cash when available. On February 10, 2005, Mr. Miers received
1,000,000,000 shares of common stock as satisfaction for $300,000 of his accrued
salary of $700,000 for 2004.



ITEM 13. EXHIBITS.



|31-1* | Certification pursuant to
		Section 302 of the Sarbanes-Oxley Act for Ed Miers
|----- | ------------------------------------------------------------------------------
|32-1* | Certification pursuant to
		Section 906 of the Sarbanes-Oxley Act for Ed Miers

*Filed Herewith



ITEM 14. PRINCIPAL
ACCOUNTANT FEES AND SERVICES.



(1) AUDIT FEES



24

---



The aggregate
		fees billed for the fiscal year ended December 31, 2004, for
		professional services rendered by Michael Johnson & Co. LLC, for the
		audit of the registrant's annual financial statements and review of the
		financial statements included in the registrant's Form 10-QSB or
		services that are normally provided by the accountant in connection with
		statutory and regulatory filings or engagements for fiscal year 2004 and
		2003 were $7,500 and $6,000, respectively.



(2) AUDIT-RELATED
FEES



The aggregate fees
billed for the fiscal year ended December 31, 2004, for assurance and related
services by Michael Johnson & Co. LLC, that are reasonably related to the
performance of the audit or review of the registrant's financial statements for
fiscal year 2004 were $-0-.



(3) TAX FEES



The aggregate fees
billed for each of the fiscal years ended December 31, 2004 and 2003, for
professional services rendered by Michael Johnson & Co. LLC, for tax compliance,
tax advice, and tax planning, for those fiscal years were included in the audit
and review fees. Services provided included preparation of Federal Income Tax
Returns Form 1120, tax planning, and research regarding 1031 exchange.



(4) ALL OTHER FEES



The aggregate fees
billed in each of the fiscal years ended December 31, 2004 and 2003, for
products and services provided by Michael Johnson & Co. LLC, other than those
services reported above, for those fiscal years were $-0- and $-0-,
respectively.



(5) AUDIT COMMITTEE
POLICIES AND PROCEDURES



Not applicable.



(6) If greater than
50 percent, disclose the percentage of hours expended on the principal
accountant's engagement to audit the registrant's financial statements for the
most recent fiscal year that were attributed to work performed by persons other
than the principal accountant's full-time, permanent employees.



Not applicable.



25

---



SIGNATURES



Pursuant to the
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



GREM USA.



By:/s/ Edward
Miers

Edward Miers,
President/Director



Dated: April 22,
2005



Pursuant to the
requirements of the Securities Exchange Act of 1934, this report has been signed
below by the following persons on behalf of the registrant and in the capacities
and on the dates indicated.



|NAME             | OFFICE                   | DATE          
|---------------- | ------------------------ | --------------
|                 |                          |               
|/s/ Edward Miers | CEO/President /Principal | April 22, 2005
|                 | Accounting Officer       |               
|                 | Edward Miers Director   



26

---



TABLE OF CONTENTS

PAGE

|INDEPENDENT AUDITORS'
REPORT      | F-1       
|--------------------------------- | ----------
|                                 
|BALANCE SHEET                     | F-2       
|                                 
|STATEMENT OF
OPERATIONS           | F-3       
|                                 
|STATEMENT OF
STOCKHOLDERS' EQUITY | F-4       
|                                 
|STATEMENT OF CASH
FLOWS           | F-5       
|                                 
|NOTES TO FINANCIAL
STATEMENTS     | F-6 - F-11



27

---



INDEPENDENT AUDITOR'S
REPORT



To the Board of
Directors

GREM USA





We have audited the
accompanying balance sheets of GREM USA, formerly known as Global Business
Markets, Inc. as of December 31, 2004 and 2003 and the related statements of
operations, cash flows, and changes in stockholders' equity for the years then
ended. These financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these financial
statements based on our audit.



We conducted our
audits in accordance with auditing standards generally accepted in the United
States. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.



In our opinion, the
consolidated financial statements referred to above present fairly, in all
material respects, the financial position of GREM USA. at December 31, 2004 and
2003, and the results of its operations and its cash flows for the years then
ended, in conformity with accounting principles generally accepted in the United
States.



The accompanying
financial statements have been prepared assuming that the Company will continue
as a going concern. As described in Note 1 to the financial statements,
conditions exists which raise substantial doubt about the Company's ability to
continue as a going concern unless it is able to generate sufficient cash flows
to meet its obligations and sustain its operations. Management's plans in regard
to these matters are also discussed in Note 1. The financial statements do not
include any adjustments that might result from the outcome of this uncertainty.







/s/Michael Johnson &
Company LLC

Denver, Colorado

April 12, 2005



F-1

---



GREM USA

Formerly known as
Global Business Markets, Inc.

Balance Sheets

December 31, 2004 and
2003



|ASSETS                                                                                                                                                             | 2004         | 2003        
|------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------ | ------------
|                                                                                                                                                                   |              |             
|Current Assets                                                                                                                                                     |              |             
|Cash                                                                                                                                                               | $ -          | $ -         
|Total Currents Assets                                                                                                                                              | -            | -           
|                                                                                                                                                                   |              |             
|                                                                                                                                                                   |              |             
|TOTAL ASSETS                                                                                                                                                       | $ -          | $ -         
|                                                                                                                                                                   |              |             
|                                                                                                                                                                   |              |             
|LIABILITIES AND STOCKHOLDERS'
		DEFICIENCY                                                                                                                         |              |             
|                                                                                                                                                                   |              |             
|Current Liabilities:                                                                                                                                               |              |             
|Accounts payable and accrued
		expenses                                                                                                                            | $ 605,477    | $ 605,477   
|Total Current Liabilities                                                                                                                                          | 605,477      | 605,477     
|                                                                                                                                                                   |              |             
|                                                                                                                                                                   |              |             
|Stockholders' Deficiency:                                                                                                                                          |              |             
|Common stock, par value
		$.001, 5,000,000,000 shares authorized: 119,678,764 and 101,418,325
		issued and outstanding at December 31, 2004 and 2003, respectively | 119,678      | 101,418     
|Additional paid-in capital                                                                                                                                         | 30,153,534   | 28,469,289  
|Accumulated deficit                                                                                                                                                | (30,878,689) | (29,176,184)
|Total Stockholders'
		Deficiency                                                                                                                                   | (605,477)    | (605,477)   
|                                                                                                                                                                   |              |             
|TOTAL LIABILITIES AND
		STOCKHOLDERS' EQUITY                                                                                                                       | $ -          | $ -         



The accompanying notes
are an integral part of these financials statements.



F-2

---



GREM USA

Formerly known as
Global Business Markets, Inc.

Statements of
Operations

For the Years Ended
December 31, 2004 and 2003



|                                                                           | 2004          | 2003         
|-------------------------------------------------------------------------- | ------------- | -------------
|                                                                           |               |              
|                                                                           |               |              
|REVENUES                                                                   | $ -           | $ -          
|                                                                           |               |              
|                                                                           |               |              
|EXPENSES:                                                                  |               |              
|Salary and payroll taxes                                                   | -             | -            
|Consulting fees                                                            | 1,702,300     | 2,924,446    
|Other selling, general and
		administrative exp.                           | 205           | 13,147       
|Total Operating Expenses                                                   | 1,702,505     | 2,937,593    
|                                                                           |               |              
|OTHER REVENUES & EXPENSES:                                                 |               |              
|Interest expense                                                           | -             | (2,000)      
|Other expenses                                                             | -             | (9,577)      
|Total Other Revenues &
		Expenses                                          | -             | (11,577)     
|                                                                           |               |              
|                                                                           |               |              
|NET LOSS                                                                   | $ (1,702,505) | $ (2,949,170)
|                                                                           |               |              
|                                                                           |               |              
|Per share information Weighted average number of common shares outstanding | 111,342,148   | 7,297,775    
|                                                                           |               |              
|Basic Loss per common share                                                | $ (0.02)      | $ (0.40)     
|                                                                           |               |              
|Diluted Loss per common share                                              | $ (0.02)      | $ (0.40)     



The accompanying notes
are an integral part of these financials statements.



F-3

---



GREM USA

Formerly known as
Global Business Markets, Inc.

Statements of Changes
in Stockholders' Deficiency



|                                        |              |           | Additional   |                | Total      
|--------------------------------------- | ------------ | --------- | ------------ | -------------- | -----------
|                                        | Common Stock | Paid-In   | Accumulated  | Stockholders' 
|                                        | Shares       | Amount    | Capital      | Deficit        | Deficiency 
|                                        |              |           |              |                |            
|Balance -December 31, 2003              | 101,418,325  | $ 101,418 | $ 28,469,289 | $ (29,176,184) | $ (605,477)
|                                        |              |           |              |                |            
|Issuance of common stock for
		services | 135,000      | 135       | 37,665       | -              | 37,800     
|Issuance of common stock for
		services | 1,225,000    | 1,225     | 292,775      | -              | 294,000    
|Issuance of common stock for
		services | 1,900,000    | 1,900     | 340,100      | -              | 342,000    
|Issuance of common stock for
		services | 1,750,000    | 1,750     | 208,250      | -              | 210,000    
|Issuance of common stock for
		services | 2,750,000    | 2,750     | 272,250      | -              | 275,000    
|Issuance of common stock for
		services | 12,125,000   | 12,125    | 487,875      | -              | 500,000    
|capital contribution                    | -            | -         | 205          | -              | 205        
|Issuance of common stock for
		services | 375,000      | 375       | 14,625       | -              | 15,000     
|Issuance of common stock for
		services | 5,000,000    | 5,000     | 55,000       | -              | 60,000     
|Issuance of common stock for
		services | (7,000,000)  | (7,000)   | (25,000)     | -              | (32,000)   
|Issuance of common stock for
		services | 439          | -         | 500          | -              | 500        
|Net loss                                | -            | -         | -            | (1,702,505)    | (1,702,505)
|Balance - December 31, 2004             | 119,678,764  | $ 119,678 | $ 30,153,534 | $ (30,878,689) | $ (605,477)



The accompanying notes
are an integral part of these financials statements.



F-4

---



GREM USA

Formerly known as
Global Business Markets, Inc.

Statements of Cash
Flows

For the Years Ended
December 31, 2004 and 2003



|                                                       | 2004          | 2003         
|------------------------------------------------------ | ------------- | -------------
|Cash Flows from Operating
		Activities:                |               |              
|Net Loss                                               | $ (1,702,505) | $ (2,949,170)
|Adjustments to reconcile net
		loss to net cash        |               |              
|used in operating activities:                          |               |              
|Stock issued for services and
		debt                   | 1,702,300     | 2,996,247    
|Net Cash Used in Operating
		Activities                | (205)         | 47,077       
|                                                       |               |              
|Cash Flows from Investing
		Activities                 |               |              
|Loans to shareholders, net                             | -             | -            
|Cash Flows Used in Investing
		Activities              | -             | -            
|                                                       |               |              
|Cash Flows from Financing
		Activities:                |               |              
|Bank overdraft                                         | -             | (40,628)     
|Proceeds (payments) from
		notes payable - net         | -             | (20,000)     
|Capital contribution                                   | 205           | -            
|Cash Flows Provided by
		Financing Activities          | 205           | (60,628)     
|                                                       |               |              
|Net Increase (Decrease) in
		cash and cash equivalents | -             | (13,551)     
|                                                       |               |              
|Cash and cash equivalents -
		beginning of period      | -             | 13,551       
|                                                       |               |              
|Cash and cash equivalents -
		end of period            | $ -           | $ -          
|                                                       |               |              
|                                                       |               |              
|Supplemental information:                              |               |              
|Cash paid for interest                                 | $ -           | $ -          
|Cash paid for income taxes                             | $ -           | $ -          



The accompanying notes
are an integral part of these financials statements.



F-5

---



GREM USA

Formerly Known as
Global Business Markets, Inc.

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

DECEMBER 31, 2004 AND
2003



NOTE 1 -GENERAL



Nature of Business



GREM USA (the
Company) was incorporated in the state of Nevada on March 26, 1999 under the
name of Last Company Clothing, Inc. In February 2001, the shareholders of Last
Company Clothing, Inc, entered into an Agreement and Plan of Merger with Premier
ASP, In, and their stockholders whereby LCC acquired 100% of Premier ASP. Inc.
stock and subsequently changed its name to Premier Axium Asp. Inc. in March
2001. On August 9, 2002, the Company changed its name to Core Solutions, Inc. On
May 2, 2003, the Company changed its name to Sunshine Ventures, Inc. On May 30,
2003, the Company changed its name to Christine's Precious Petal, Inc. On July
29, 2003, the Company changed its name to Global Business Markets, Inc. On
December 29, 2004, the Company changed its name to GREM USA.



Going Concern



The accompanying
financial statements have been prepared in conformity with generally accepted
accounting principles, which contemplates continuation of the Company as a going
concern. The Company has experienced significant recurring losses. As of
December 31, 2004, the current liabilities exceed the current assets by
$605,477. As shown in the financial statements, the Company incurred a net loss
of $1,702,505 for year then ended.



The future success of
the Company is likely dependent on its ability to attain additional capital to
develop its proposed products and ultimately, upon its ability to attain future
profitable operations. There can be no assurance that the Company will be
successful in obtaining such financing, or that it will attain positive cash
flow from operations.



NOTE 2 -SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES



USE OF ESTIMATES

The preparation of
financial statements in conformity with accounting principles generally accepted
in the United States of America 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 revenue and expenses during the periods
presented. Actual results could differ from those estimates.



CASH AND CASH
EQUIVALENTS

The Company considers
all highly liquid investments purchased with original maturities of three months
or less to be cash equivalents.



F-6

---



GREM USA

Formerly Known as
Global Business Markets, Inc.

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

DECEMBER 31, 2004 AND
2003



CONCENTRATION OF
CREDIT RISK

The Company places
its cash in what it believes to be credit-worthy financial institutions.
However, cash balances may have exceeded FDIC insured levels at various times
during the year. The Company has not experienced any losses in such accounts and
believes it is not exposed to any significant credit risk on cash and cash
equivalents.



PROPERTY AND
EQUIPMENT

Property and
equipment is stated at cost. Depreciation is computed using the straight-line
method based upon the estimated useful lives of the various classes of assets.
Maintenance and repairs are charged to expense as incurred.



INCOME TAXES

Income taxes are
provided for based on the asset and liability method of accounting pursuant to
Statement of Financial Accounting Standards ("SFAS") no. 109, "Accounting for
Income Taxes". The asset and liability method requires the recognition of
deferred tax assets and liabilities for the expected future tax consequences of
temporary differences between the reported amount and assets and liabilities and
their tax basis.



ADVERTISING COSTS

Advertising costs are
expensed as incurred and included in selling, general and administrative
expenses.



FAIR VALUE OF
FINANICIAL INSTRUMENTS

The carrying value of
cash and cash equivalents, accounts payable and accrued expenses approximates
fair value due to the relatively short maturity of these instruments. The fair
value of long-term payables was determined based upon interest rates currently
available to the Company for borrowings with similar terms. The fair value of
long-term borrowings approximates their carrying amounts as of December 31,
2003.



LONG-LIVED ASSETS

SFAS No. 121,
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
Disposed of" requires that long-lived assets be reviewed for impairment whenever
events or changes in circumstances indicate that the carrying amount of an asset
may not be recoverable. The Company has adopted this statement and determined an
impairment loss was needed to be recognized for applicable assets of continuing
operations in 2003.



F-7

---



GREM USA

Formerly Known as
Global Business Markets, Inc.

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

DECEMBER 31, 2004 AND
2003



STOCK BASED
COMPENSATION

SFAS No. 123,
"Accounting for Stock-Based Compensation" ("SFAS No. 123') allows an entity to
elect to continue to measure compensation cost under Accounting Principles Board
Opinion No. 25, "Accounting for Stock Issued to Employees" ("APB No. 25"), but
requires pro forma disclosures of net loss and loss per share as if the
fair-valued-based method of accounting had been applied. In accordance with SFAS
123, the Company elected to continue to measure compensation cost under APB No.
25, and comply with the pro forma disclosure requirements.



The Company has
adopted for footnote disclosure purposes SFAS No. 123, which requires that
companies disclose the cost of stock-based employee compensation at the grant
date based on the value of the award (the fair value method) and disclose this
cost over the service period. The value of the stock-based award is determined
using a pricing model whereby compensation cost is the excess of the fair value
of the award as determined by the model at grant date or other measurement date
over the amount an employee must pay to acquire the stock.



Transactions in which
goods or services are received form non-employees for the issuance of equity
securities or stock-based awards are accounted for based on the fair value of
the consideration received.



LOSS PER SHARE

SFAS No. 128,
"Earnings Per Share" requires presentation of basic loss per share and diluted
loss per share. The computation of basic loss per share is computed by dividing
loss available to common stockholders by the weighted-average number of
outstanding common shares during the period. Diluted loss per share gives effect
to all dilutive potential common shares outstanding and all shares held in
treasury during the period. The computation of diluted loss per share does not
assume conversion, exercise or contingent exercise of securities that would have
an anti-dilutive effect on losses.



COMPREHENSIVE INCOME

SFAS No. 130,
"Reporting Comprehensive Income", establishes standards for the reporting and
display of comprehensive income and its components in the financial statements.
As of December 31, 2004 and 2003, the Company has no items that represent
comprehensive income; therefore, has not included a schedule of comprehensive
income in the financial statements.



SEGMENT DISCLOSURE

SFAS No 131,
"Disclosure about Segments of an Enterprise and Related Information' changes the
way public companies report information about segments, SFAS No. 131, which is
based on the selected segment products and services, major customers, and the
material countries in which the entity holds assets and reports revenues. The
Company has adopted SFAS No. 131 and has determined it has only one reportable
segment as of December 31, 2004 and 2003.



F-8

---



GREM USA

Formerly Known as
Global Business Markets, Inc.

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

DECEMBER 31, 2004 AND
2003



NOTE 3 - INCOME TAXES



There has been no
provision for U.S. federal, state, or foreign income taxes for any period
because the Company has incurred losses in all periods and for all
jurisdictions. Deferred income taxes reflect the net tax effects of temporary
differences between the carrying amounts of assets and liabilities for financial
reporting purposes and the amounts used for income tax purposes. Significant
components of deferred tax assets are as follows:



|Deferred tax assets:                        |             
|------------------------------------------- | ------------
|Net operating loss
carryforwards            | $30,878,689 
|Valuation allowance
for deferred tax assets | (30,878,689)
|Net deferred tax
assets                     | $ -         



Realization of
deferred tax assets is dependent upon future earnings, if any, the timing and
amount of which are uncertain. Accordingly, the net deferred tax assets have
been fully offset by a valuation allowance. As of December 31, 2004, the Company
had net operating loss carryforwards of approximately $30,878,689 or federal
income tax purposes. Utilization of the net operating loss may be subject to
substantial annual limitations due to the ownership change limitations provided
by the Internal Revenue Code and similar state provisions. The annual limitation
could result in the expiration of the net operating loss before utilization.



NOTE 4 - CAPITAL
STOCK TRANSACTIONS



The authorized common
stock of the Company consists of 5,000,000,000 shares with par value of $.001.
On July 5, 2002, the Company's Board of Directors declared a 10,000-for-one
reverse stock split of outstanding common stock payable at July 5, 2002. On May
9, 2003, the Company's Board of Directors declared a 25,000 for-1 reverse split
of the outstanding common stock payable at May 9, 2003. On November 1, the
Company's Board of Directors declared a 200-for-one reverse tock split of
outstanding common stock payable at November 1, 2004. On December 29, 2004, the
Company's Board of Directors and stockholders approved increasing the total
number of authorized shares of common stock from 125,000,000 shares to
5,000,000,000.



All share and per
share amounts in the accompanying financial statements of the Company and notes
thereto have been retroactively adjusted to give effect to the stock splits.



NOTE 5 - COMMITMENTS
AND CONTINGENCIES



Employment Contract

In September 2003,
the Company entered into a one-year employment contract to pay its president a
salary of $150,000 per year.



F-9

---



GREM USA

Formerly Known as
Global Business Markets, Inc.

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

DECEMBER 31, 2004 AND
2003



NOTE 6 - FINANCIAL
ACCOUNTING DEVELOPMENTS



Recently Issued
Accounting Pronouncements



In February 2003, the
Financial Accounting Standards Board ("FASB") issued SFAS No. 150, "Accounting
for Certain Financial Instruments with Characteristics of Both Liabilities and
Equity" (SFAS No. 150"). The provisions of SFAS No. 150 are effective for
financial instruments entered into or modified after May 31, 2003, and otherwise
are effective at the beginning of the first interim period beginning after June
15, 2003, except for mandatorily redeemable financial instruments of nonpublic
entities. The Company has not issued any financial instruments with such
characteristics.



In December 2003, the
FASB issued FASB Interpretation No. 46 (revised December 2003), "Consolidation
of Variable Interest Entities" (FIN No. 46R"), which addresses how a business
enterprise should evaluate whether it has a controlling financial interest in an
entity through means other than voting rights and accordingly should consolidate
the entity. FIN No. 46R replaces FASB Interpretation No. 46, "Consolidation
of Variable Interest Entities", which was issued in January 2003.
Companies are required to apply FIN No. 46R to variable interests in variable
interest entities ("VIEs") created after December 31, 2003. For variable
interest in VIEs created before January 1, 2004, the Interpretation is applied
beginning January 1, 2005. For any Vies that must be consolidated under FIN No.
46R that were created before January 1, 2004, the assets, liabilities and
non-controlling interests of the VIE initially are measured at their carrying
amounts with any difference between the net amount added to the balance sheet
and any previously recognized interest being recognized as the cumulative effect
of an accounting change. If determining the carrying amounts is not practicable,
fair value at the date FIN No. 46R first applies may be used to measure the
assets, liabilities and non-controlling interest of the VIE. The Company does
not have any interest in any VIE.



In December 2004, the
FASB issued SFAS No 123(R)(revised 2004), Share-Based Payment" which amends FASB
Statement No. 123 and will be effective for public companies for interim or
annual periods after June 15, 2005. The new standard will require entities to
expense employee stock options and other share-based payments. The new standard
may be adopted in one of three ways - the modified prospective transition
method. The Company is evaluation how it will adopt the standard and evaluating
the effect that the adoption of SFAS 123(R) will have on our financial position
and results of operations.



F-10

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GREM USA

Formerly Known as
Global Business Markets, Inc.

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

DECEMBER 31, 2004 AND
2003



In November 2004, the
FASB issued SFAS No 151, Inventory Costs, an amendment of ARB No. 43, Chapter.
This statement amends the guidance in ARB No. 43, Chapter 4, Inventory
Pricing, to clarify the accounting for abnormal amounts of idle facility
expense, freight, handling cost, and wasted material (spoilage). Paragraph 5 of
ARB No. 43, Chapter 4, previously stated that ". under some circumstances, items
such as idle facility expense, excessive spoilage, double freight, and
rehandling costs may be so abnormal as to require treatment as current period
charges." SFAS No. 151 requires that those items be recognized as current-period
charges regardless of whether they meet the criterion of "so abnormal." In
addition, this statement requires that allocation of fixed production overheads
to the costs of conversion be based on the prospectively and are effective for
inventory costs incurred during fiscal years beginning after June 15, 2005, with
earlier application permitted for inventory costs incurred during fiscal years
beginning after the date this Statement was issued. The adoption of SFGAS No.
151 is not expected to have a material impact on the Company's financial
position and results of operations.



In December 2004, the
FASB issued SFAS No.153, Exchanges of Nonmonetary Assets, an amendment of APB
Opinion No. 29. The guidance in APB Opinion No. 29, Accounting for
Nonmonetary Transactions, is based on the principle that exchanges of
nonmonetary assets should be measured based on the fair value of assets
exchanged. The guidance in that Opinion, however, included certain exceptions to
that principle. This Statement amends Opinion 29 to eliminate the exception for
nonmonetary exchanges of similar productive assets that do not have commercial
substance. A nonmonetary exchange has commercial substance if the future cash
flows of the entity are expected to change significantly as a result of the
exchange. SFAS No. 153 is effective for nonmonetary exchanges occurring in
fiscal periods beginning after June 15, 2005. The adoption of SFAS No. 153 is
not expected to have a material impact on the Company's financial position and
results of operations.