UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      D.C. 20549





**FORM
      10-KSB/A**


Amendment
      No. 1





ANNUAL
      REPORT UNDER SECTION 13 OF THE SECURITIES EXCHANGE ACT OF 1934


For
      the
      fiscal year ended**December 31, 2005**




**GOLDEN
      VALLEY DEVELOPMENT, INC.**


a
      Nevada
      corporation





**1200
      Truxton Avenue #130**


**Bakersfield,
      CA 93301**


(661)
      327-0067





Common
      Stock, $0.001 par value registered under Section 12(g) of The Securities
      Exchange Act of 1934





I.R.S.
      Employer I.D. **# 84-1658720**





Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the Exchange Act during the past 12 months (or for such shorter period
      that the registrant was required to file such reports), and (2) has been subject
      to such filing requirements for the past 90 days.  Yes___   No
      _X_





Check
      if
      there is no disclosure of delinquent filers in response to Item 405 of
      Regulation S-B contained in this form, and no disclosure will 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-KSB or any
      amendment thereto.  _X_





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act). Yes ___   No
      _X_





Revenues
      for our most recent fiscal year:  $0





Number
      of
      shares oustanding of our only class of common equity, as of March 30, 2006:
      40,000,000





Transitional
      Small Business Disclosure Format (check one): Yes ___; No _X_


-1-


**Description
      of Business.**





History
      and Structure.  We
      were
      incorporated in July of 2004 as Golden Valley Development, Inc. in the state
      of
      Nevada. From the date of incorporation to August of 2004, we were a wholly-owned
      subsidiary of Fresh Veg Broker.com, Inc., a Nevada corporation. Then, in August
      of 2004, we were spun off from Fresh Veg, and in that process the shares held
      by
      Fresh Veg were distributed to its own shareholders on a pro rata basis, making
      our shareholder base exactly the same as Fresh Veg’s shareholder
      base.





The
      business purpose of the spin-off was to separate three distinct, disparate
      business plans so that different, separate entities could focus on each business
      plan. Prior to the spin-off, there was a parent company - Fresh Veg - and two
      subsidiaries. We were one of the two subsidiaries. Our business plan is for
      a
      brokerage firm that specializes in buying commodities such as fresh fruits,
      vegetables and hay and re-selling them, as we describe below. The business
      plan
      belonging to the other former subsidiary of Fresh Veg, Pebble Beach Enterprises,
      was for the development and re-sale of real estate. Our then-parent company
      had
      planned on acquiring a third subsidiary which had certain technologies designed
      to assist medical insurance companies in securely receiving hospital data.
      Therefore, it was determined that three business plans - each requiring vastly
      different types of energy, talent and resources to operate - was too dispersing
      to be operated by one conglomerate, and so the two subsidiaries, Pebble Beach
      and Golden Valley, were spun off.





Subsequent
      to our being spun off from Fresh Veg, Fresh Veg changed its name to Tiger Team
      Technologies, Inc. officially on August 16, 2004, in order to better reflect
      the
      change in its business from a vegetable broker business - which is the business
      we inherited - to a company that dealt with certain technologies designed to
      assist medical insurance companies in securely receiving hospital
      data.





What
      We
      Do.  We
      are a
      brokerage firm that specializes in buying commodities such as fresh fruits
      and
      vegetables and hay in California’s central valley from local farmers and then
      selling the products to buyers, such as supermarkets, wholesalers, and other
      farmers, also located in California.





We
      operate as a broker, someone who acts as the agent for the farmer in negotiating
      a contract between seller and buyer. The brokerage fee is generally collected
      from the seller. We earn our fee by arranging the transaction through written
      or
      phone communication and bringing the two parties together with a confirmation
      of
      sale. Our management team has over 25 years of combined brokerage experience
      in
      the produce industry, including the last year and a half with Golden Valley.
      Our
      expertise ranges from contract negotiation and product research to innovative
      business development.





Our
      business model begins with various buyers in need of produce, such as
      supermarkets and wholesalers, who buy on behalf of restaurants, restaurant
      chains and other large institutions; or in need of hay for animal feed. These
      buyers place their orders with us. After receiving an order from a buyer we
      prepare a quote. At that point, we check to see if we have any other pending
      orders for the same commodity that has not been purchased yet. If we do, we
      try
      to purchase a larger quantity from the farmer, and negotiate a lower price
      for
      buying at a bulk rate, which lowers our base cost and increases our
      profit.





We
      find
      the farmers who have the desired produce or hay, and then put in the order
      to
      the farmer. Before the goods are shipped from the farmer to the buyer, we send
      out our inspector to inspect them, to guarantee high level of quality and
      minimize disputes over damaged goods. Our inspectors, currently only Art and
      Annette Davis, do not allow damaged goods to ship. This way the customers know
      that they are receiving quality products with every order placed. If a customer
      receives damaged goods, we know that the damage occurred en route and the
      transportation company is responsible for the damage. We strive to ensure that
      all products are of the highest quality. In inspecting commodities, we use
      the
      USDA standards, the only broadly recognized quality standards in our industry,
      and due to Art and Annette Davis’s experience with similar ventures in the past,
      we will be able to train and test future inspectors in-house to follow these
      standards.




-2-


Here
      is
      the manner in which our first transaction occurred, and the general manner
      in
      which we anticipate most of our transactions occurring: In October of 2004,
      we
      were contacted by ERE Sheep Company of Bakersfield, California, who was looking
      for hay as feed for their livestock. We contacted Lucia Hay Company of Tulare,
      California, and bought the hay from them for $35,568 and then sold it to ERE
      Sheep Company for $43,568, for a profit of exactly $8,000.





Competition.  Our
      main
      competitors are mostly individual brokers with small offices and few or no
      employees. Varsity Produce and Manny Lawrence are the largest competitors to
      our
      knowledge.





The
      main
      competitive factor in our industry, however, does not come from other brokers,
      but from the changing nature of the industry. As farms become larger, they
      become more able to offer the same type of discounts to buyers that we can.
      Our
      advantage remains that we inspect all produce before it ships, and so ensure
      high quality produce, which is also an advantage over our competitors who,
      in
      the experience of Art and Annette Davis, have never inspected the produce being
      shipped or even were physically present furing any part of the shipping process;
      however, our challenge is always to find more small, “niche” farmers and more
“niche” buyers, such as for organic produce, unusual produce, hay and other
      niches.





In
      the
      experience of our management, customers usually pick up the produce from the
      seller with their own trucks. When necessary, however, we will have the
      capability to coordinate transportation for buyers. We are allied with
      Freymiller Trucking through verbal, informal agreements between our management
      and theirs, whose trucks, because of our alliance, can be contracted out at
      any
      time. Having access to such a broad transportation network allows us to offer
      reasonable transportation rates and still generate a profit. Since we are able
      to handle all of our clients’ shipping needs, there is more incentive for
      companies to buy goods from us rather than our competitors, providing another
      competitive advantage.





Regulation.  Golden
      Valley has no involvement in the farming process. Therefore we do not need
      to
      conform to any environmental standards. When we supply transportation for the
      goods to be delivered, we contract out with trucking companies and it is
      ultimately the responsibility of the transportation company to make sure that
      all environmental laws in regards to transporting commodities are adhered to
      and
      followed.





Because
      we currently operate exclusively intra-state, we are not subject to federal
      agricultural regulations as a broker; specifically we are not covered under
      the
      United States Perishable Agricultural Commodities Act, abbreviated as “PACA”.
      However, as we expand into interstate deals, we would need to receive a license
      from the U.S. Department of Agriculture as a “broker”, defined by PACA in part
      as: “ any
      person engaged in the business of negotiating sales and purchases of any
      perishable agricultural commodity in interstate or foreign commerce for or
      on
      behalf of the vendor or the purchaser, respectively...”. Receiving the license
      entails filling out a relatively simple application and paying a $550 annual
      fee. Licenses are granted fairly automatically unless the applicant has had
      a
      license revoked in the past or been otherwise found in violation of PACA or
      its
      regulations in the past. Maintaining a license would principally involve making
      sure we pay our farmers on time. If we are late in paying farmers, our license
      may be suspended by the U.S. Department of Agriculture. Since our business
      model
      includes the receipt of monies from the buyer before the farmers deliver the
      product, it is very unlikely we would have trouble maintaining our
      license.





Suppliers
      and Customers.  California’s
      central valley services 70 percent of the nation’s produce and vegetables, and
      has hundreds of suppliers, i.e. farmers and sheds, and therefore sources and
      availability of the produce is good. Some of the small- and mid-size farmers
      who
      are most suited as suppliers in our business model include Gerowan Farms, HMC
      Farms, Bolthouse Farms, Grimway Farms and Giumarra Vineyards.





We
      have
      no major customers yet; our two customers so far have been ERE Sheep Company
      and
      Diamond Cattle Company. However, major customers that have transacted business
      with Art and/or Annette Davis - our management team - in the past include Tops
      Supermarkets, Bi-Lo Supermarkets and Giant Foods.


-3-


Research
      and Development.  We
      spent
      no money on research and development in the last two years, relying instead
      on
      the experience of our management team, Art and Annette Davis, to make any
      amendments to our business or marketing plans.





Employees.  We
      have
      no formal employees. Instead, our two management personnel - Art and Annette
      Davis - each dedicate 5-20 hours per week to conduct the business and prepare
      all requisite administration, including this filing.





**Description
      of Property.**





Our
      principal office is a rented space in a dedicated office building at 1200
      Truxton Ave., Suite 130 in Bakersfield, California.





We
      own no
      real estate nor other property, nor do we invest in real estate.





**Legal
      Proceedings.**





We
      are
      not a party of any pending or existing legal proceedings, nor the subject of
      any
      governmental proceedings.





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





Liquidity
      and Cash Requirements.  Adavco
      Inc., a corporation owned jointly by Art and Annette Davis, loaned us $50,000
      in
      October of 2004 to satisfy cash requirements, including accounting and auditing
      costs, for our first 36 months - through October of 2007. The material terms
      of
      the loan, filed as an exhibit to this statement, are that the loan carries
      5%
      annual interest and is due in full by October of 2007. Adavco Inc. is prepared
      to loan us more money as needed; however, our cash requirements for the next
      12
      months are anticipated to be only approximately $15,000, and therefore another
      loan - nor any other method of raising cash - is not likely to be necessary.
      We
      arrive at a projected cash requirement of $15,000 over the next year based
      on
      the assumptions that a) we will continue to receive our office space rent-free;
      b) our expenses will be limited to administrative costs and costs of inspcetion
      of produce; and c) that our auditors’ costs will be relatively stable. Based on
      our past auditors’ costs, as well as our past administrative costs, we
      anticipate needing $15,000 for the next 12 months to satisfy our cash
      requirements. This will increase significantly if we begin any advertising
      campaigns, as discussed below in our Marketing subsection.





As
      of
      March 30, 2006, our cash on hand was $24,888.





Recent
      operations.  In
      2006,
      we closed three transactions, all for the Diamond Cattle Company.





On
      March
      9, we purchased 100 cows from Treasure Valley Livestock Auction Inc. for $93,279
      and resold the cows to Diamond for $94,212, for a profit of $933.





On
      March
      16, we purchased a calf chute and equipment for $11,720 from Flying W Inc.
      and
      then sold it to Diamond on March 22 for $11,837, for a profit of
      $117.





On
      March
      20, we purchased 112 heifers for $98,000 from The Stockman’s Market Inc. and
      resold the heifers to Diamond for $98,980 for a profit of $980.





This
      brings to four the total number of transactions we have conducted since
      incorporating in 2004. The three transactions in 2006 dealt with ranching,
      not
      produce, but the principles of our business model remain the same, including
      inspection of the commodities before they are shipped to the buyer.





Industry
      Trends.  As
      we
      discussed above, there is a growing trend in our industry which is of concern
      to
      us. As farms grow and consolidate, they become better able to negotiate sales
      directly with the buyers, since the farms now have the sufficient quantity
      to
      satisfy most buyers.


-4-


Our
      business model only works when there are still sufficient small and niche
      farmers with which to work, and by “niche” farmers we mean those that produce a
      niche crop such as alfalfa hay or grass hay, organic produce, and unusual or
      specialty commodities. However, we are able to work with larger farms and larger
      buyers on occasion, because we still retain the advantage of quality control.
      As
      we mention above, we send out a field inspector to make sure all the produce
      loaded onto the trucks is high quality, which is something the buyers do not
      do
      themselves, nor do the farmers, nor do our competitors. In this way, we still
      are able to generate enough business to continue as a going
      concern.





How
      We
      Make Our Money and Results of Operations.  We
      receive money from the buyers of produce and give most of that money to the
      farmers or other commodity producers, keeping the remaining money as profit.
      For
      our one transaction in 2004, we were contacted by ERE Sheep Company, which
      was
      looking for hay as feed for their livestock. We contacted Lucia Hay Company
      and
      bought the hay from them for $35,568 and then sold it to ERE Sheep Company
      for
      $43,568, for a profit of exactly $8,000. This is a 20% profit. Our three
      transactions in 2006 netted us a 1% profit.





The
      above
      transaction has been the only transaction we have conducted until 2006. There
      have been no material changes to our financial condition from the end of the
      last fiscal year to the end of the latest fiscal year.





Marketing.  Our
      company is local and will rely on our reputation and word-of-mouth to generate
      most of our customers thanks to our process of inspecting the goods before
      shipment. Our management has historically found that happy customers are the
      best form of advertising. However, in conjunction with word-of-mouth marketing,
      we also plan to advertise in the Produce News, the Packer and other chosen
      produce industry publications. We also will direct-mail to address lists endemic
      to our industry.





Our
      management team, Art and Annette Davis, has formed many partnerships, alliances
      and contacts while operating as produce brokers for the past 25 years. These
      business relationships provide an enormous base of resources from which we
      can
      operate. Most of our brokerage deals will start - as they have with our one
      transaction we have completed so far - with our management team’s large client
      base that we hope will contract with us to locate, purchase and deliver various
      commodities for them.





Potential
      Future Business Models.  Additionally,
      we are currently researching the viability of farming certain commodities
      ourselves in order to lower the cost of goods sold and improve our profit
      margin. Whatever excess product was grown could be sold to the various competing
      brokers. By controlling the product, we can effectively control the quality
      of
      product that other brokers are able to supply. This business model could be
      launched as early as 2007; however, the feasibility of such a model is poor,
      as
      it requires certain infrastructures and employees that would be beyond the
      scope
      of our current resources.





Another
      option is to purchase the farmland outright and lease it back to the various
      farmers. By controlling the farmers you can demand the best product for the
      lowest price. This business model is possible with another loan from Adavco,
      which is controlled by our management team. We would feel ready for this model
      once we have completed several more transactions under our current model this
      year, and determined how much time and effort will be required to keep our
      current model viable.





Another
      profitable means of expansion we are exploring is to continue hiring brokers
      with established customer bases, who can promote the benefits of doing business
      with Golden Valley. The new hires would stay employed with Golden Valley as
      long
      as they can continually solicit new customers. The more customers these brokers
      bring Golden Valley, the higher their salaries and bonuses. We anticipate hiring
      one produce broker per year, beginning this year, to allow for reasonable
      expansion.


-5-


**Financial
      Statements.**




REPORT
      OF
      INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM








To
      the
      Board of Directors


Golden
      Valley Development, Inc.


Bakersfield,
      California





We
      have
      audited the accompanying balance sheet of Golden Valley Development, Inc.,
      as of
      December 31, 2005 and the related statements of operations, stockholders’
deficit, and cash flows for the year ended December 31, 2005 and the period
      from
      July 26, 2004 through December 31, 2004. These financial statements are the
      responsibility of Golden Valley Development, Inc. Our responsibility is to
      express an opinion on these financial statements based on our
      audits.





We
      conducted our audits in accordance with standards of the Public Company
      Accounting Oversight Board (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 financial statements referred to above present fairly, in all
      material respects, the financial position of Golden Valley Development, Inc.,
      as
      of December 31, 2005, and the results of its operations and its cash flows
      for
      the periods described in conformity with accounting principles generally
      accepted in the United States of America.











/s/
      MALONE & BAILEY


MALONE
      & BAILEY, PC


www.malone-bailey.com


Houston,
      Texas





February
      13, 2006


-6-


GOLDEN
      VALLEY DEVELOPMENT, INC.


BALANCE
      SHEET


December
      31, 2005













**ASSETS**Cash
            
            $
            45,626Prepaid
                income taxes
            
            
            2,380Total
                current assets
            
            $
            48,006LIABILITIES
                & STOCKHOLDERS’ DEFICITAccrued
                expenses
            
            $
            3,121Total
                current liabilities
            
            
            3,121Note
                payable to related party
            
            
            50,000Total
                liabilities
            
            
            53,121Commitments
            
            
            -STOCKHOLDERS’
                DEFICITCommon
                stock, $.001 par value, 75,000,000 sharesauthorized,
                40,000,000 shares issued and outstanding
            
            
            40,000Additional
                paid-in capital
            
            
            (33,399
            )Retained
                earnings
            
            
            (11,716
            )TOTAL
                STOCKHOLDERS’ DEFICIT
            
            
            (5,115
            )TOTAL
                LIABILITIES & STOCKHOLDERS’ DEFICIT
            
            $
            48,006


See
      accompanying summary of accounting policies


and
      notes
      to financials statements.





-7-


GOLDEN
      VALLEY DEVELOPMENT, INC.


STATEMENTS
      OF OPERATIONS


Year
      Ended December 31, 2005 and the


Period
      from July 26, 2004 (Inception)


Through
      December 31, 2004









**2005**
            
            **2004**Revenue
            
            $
            -
            
            $
            8,000General
                & administrative
            
            
            13,805
            
            
            2,741Interest
                expense
            
            
            2,547
            
            
            623Net
                income (loss) beforeincome
                tax expense (recovery)
            
            
            (16,352
            )
            
            4,636Income
                tax expense (recovery)
            
            
            (695
            )
            
            695Net
                income (loss)
            
            $
            (15,657
            )
            $
            3,940Net
                income (loss) per share
            
            $
            (0.00
            )
            $
            0.00Weighted
                average shares outstanding
            
            
            40,000,000
            
            
            40,000,000





See
      accompanying summary of accounting policies


and
      notes
      to financials statements.


-8-


GOLDEN
      VALLEY DEVELOPMENT, INC.


STATEMENT
      OF CHANGES IN STOCKHOLDERS' DEFICIT


The
      Period from July 26, 2004 (Inception)


Through
      December 31, 2005








**Additional**
            ****
            ****
            
            ****
            ****
            ****
            ********
            ****
            ****
            **Common**
            ****
            ****
            ****
            ****
            ****
            **Paid
                in**
            ****
            ****
            **Retained**
            ****
            ****
            ****
            ********
            ****
            ****
            **Shares**
            ****
            ****
            **Par**
            ****
            ****
            **Capital**
            ****
            ****
            **Deficit**
            ****
            ****
            **Totals**Shares
                issued atinception
            
            
            40,000,000
            
            $
            40,000
            
            $
            (40,000
            )
            $
            -
            
            $
            -Contribution
                of rentexpense
            
            
            -
            
            
            -
            
            
            1,941
            
            
            -
            
            
            1,941Net
                income
            
            
            -
            
            
            -
            
            
            -
            
            
            3,940
            
            
            3,940Balances
                atDecember
                31, 2004
            
            
            40,000,000
            
            
            40,000
            
            
            (38,059
            )
            
            3,940
            
            
            5,881Contribution
                of rentexpense
            
            
            -
            
            
            -
            
            
            4,660
            
            
            -
            
            
            4,660Net
                loss
            
            
            -
            
            
            -
            
            
            -
            
            
            (15,657
            )
            
            (15,657
            )Balances
                atDecember
                31, 2005
            
            
            40,000,000
            
            $
            40,000
            
            $
            (33,399
            )
            $
            (11,717
            )
            $
            (5,115
            )


See
      accompanying summary of accounting policies


and
      notes
      to financials statements.


-9-


GOLDEN
      VALLEY DEVELOPMENT, INC.


STATEMENT
      OF CASH FLOWS


The
      Year
      Ended December 31, 2005 and the


Period
      from July 26, 2004 (Inception)


Through
      December 31, 2004











**2005**
            
            **2004**CASH
                FLOWS FROM OPERATING ACTIVITIESNet
                loss
            
            $
            (15,657
            )
            $
            3,941Adjustments
                to reconcile net incometo
                cash provided by operating activities:Imputed
                rent expense
            
            
            4,660
            
            
            1,941Changes
                in:Prepaid
                income taxes
            
            
            2,380
            
            
            -Accrued
                expenses
            
            
            1,698
            
            
            1,423Income
                tax payable
            
            
            (695
            )
            
            695NET
                CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
            
            
            (12,374
            )
            
            8,000NET
                FLOWS FROM FINANCING ACTIVITIESProceeds
                on note payable to related party
            
            
            -
            
            
            50,000NET
                CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
            
            
            -
            
            
            50,000NET
                CHANGE IN CASH
            
            
            (12,374
            )
            
            58,000Cash
                balance, beginning of the period
            
            
            58,000
            
            
            -Cash
                balance, ending of the period
            
            $
            45,626
            
            $
            58,000Supplemental
                disclosures:Taxes
                paid
            
            $
            -
            
            $
            -Interest
                paid
            
            
            -
            
            
            -


See
      accompanying summary of accounting policies


and
      notes
      to financials statements.


-10-


GOLDEN
      VALLEY DEVELOPMENT, INC.


NOTES
      TO
      FINANCIAL STATEMENTS





NOTE
      1 -
      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES





Nature
      of
      Business. Golden Valley Development, Inc. (“Golden Valley”) was incorporated in
      Nevada on July 26, 2004. Golden Valley is a hay broker.





Golden
      Valley's fiscal year end is December 31st.





Cash
      and
      Cash Equivalents. For purposes of the statement of cash flows, Golden Valley
      considers all highly liquid investments purchased with an original maturity
      of
      three months or less to be cash equivalents.





Use
      of
      Estimates. In preparing financial statements, management makes estimates and
      assumptions that affect the reported amounts of assets and liabilities in the
      balance sheet and revenue and expenses in the statement of expenses. Actual
      results could differ from those estimates.





Revenue
      Recognition. Golden Valley recognizes revenue when persuasive evidence of an
      arrangement exists, services have been rendered, the sales price is fixed or
      determinable, and collectibility is reasonably assured. Golden Valley performs
      as a broker without assuming the risks and rewards of ownership of the goods,
      therefore sales are reported on a net basis. After receiving and order, Golden
      Valley will locate and inspect the desired item. The item will be shipped
      directly to the customer from the supplier by Golden Valley or the customer
      can
      arrange for pickup at the supplier. The item must meet certain industry
      standards prior to customer acceptance. If the industry standards are not met,
      the loss carries back to the supplier. If the item meets industry standards
      and
      the customer were to reject the item, the loss belongs to the customer. Golden
      Valley recognizes revenues at the time the customer accepts the
      item.





Advertising.
      In accordance with Accounting Standards Executive Committee Statement of
      Position 93-7, costs incurred for producing and communicating advertising of
      Golden Valley are charged to operations as incurred. Advertising expense for
      the
      period from inception through December 31, 2005 was $0.





Income
      taxes. Golden Valley recognizes deferred tax assets and liabilities based on
      differences between the financial reporting and tax bases of assets and
      liabilities using the enacted tax rates and laws that are expected to be in
      effect when the differences are expected to be recovered. Golden Valley provides
      a valuation allowance for deferred tax assets for which it does not consider
      realization of such assets to be more likely than not.





Basic
      and
      diluted net loss per share calculations are presented in accordance with
      Financial Accounting Standards Statement 128, and are calculated on the basis
      of
      the weighted average number of common shares outstanding during the year. They
      include the dilutive effect of common stock equivalents in years with net
      income. Basic and diluted loss per share is the same due to the absence of
      common stock equivalents.


-11-


Recently
      issued accounting pronouncements. Golden Valley does not expect the adoption
      of
      recently issued accounting pronouncements to have a significant impact on Golden
      Valley’s results of operations, financial position or cash flow.




NOTE
      2 -
      NOTE PAYABLE TO RELATED PARTY





A
      company
      controlled by Golden Valley's majority shareholder loaned Golden Valley $50,000
      on October 1, 2004. The note is due on October 1, 2007, bears interest of 5
      percent and is unsecured.





NOTE
      3 -
      COMMON STOCK





Golden
      Valley was incorporated by Tiger Team Technologies, Inc. (“Tiger Team”)
      (formerly known as Fresh Veg Broker.com, Inc.). Golden Valley issued Tiger
      Team
      40,000,000 shares of Golden Valley at Golden Valley's inception in exchange
      for
      a business plan with a value of $0. Shortly thereafter, Tiger Team distributed
      the 40,000,000 shares of Golden Valley to Tiger Team's existing shareholders
      on
      a pro rata basis.





NOTE
      4 -
      INCOME TAXES





Golden
      Valley uses the liability method, where deferred tax assets and liabilities
      are
      determined based on the expected future tax consequences of temporary
      differences between the carrying amounts of assets and liabilities for financial
      and income tax reporting purposes. During
      fiscal 2005 Golden Valley incurred a net loss and, therefore, has no tax
      liability. The net deferred tax asset generated by the loss carry-forward has
      been fully reserved. The cumulative net operating loss carry-forward is
      approximately $3,000 at December 31, 2005, and will expire in the year
      2025.





At
      December 31, 2005, deferred tax assets consisted of the following:







Deferred
                tax assetsNet
                operating losses
            
            $
            450Less:
                valuation allowance
            
            
            (450
            )Net
                deferred tax asset
            
            $
            0





Golden
      Valley has prepaid income taxes of $2,380 as of December 31, 2005 and an income
      tax recovery of $695 and income tax expense of $695 for the years ended December
      31, 2005 and 2004, respectively.





NOTE
      5 -
      COMMITMENTS





Golden
      Valley is using office space provided by a related party on a rent-free, month
      to month basis. The fair value of the office space is $388 per month. Golden
      Valley had $4,660 and $1,941 of rent expense for the year ended December 31,
      2005 and the period from inception through December 31, 2004, respectively.
      The
      rent is contributed to capital by a related party as a credit to additional
      paid
      in capital.


-12-


NOTE
      6 -
      MAJOR CUSTOMERS





All
      2004
      revenues were from a single customer.





**Changes
      In and Disagreements With Accountants on Accounting and Financial
      Disclosure.**





There
      have been no changes in or disagreements with our accountants.




**Controls
      and Procedures.**





It
      is
      Management’s responsibility to establish and maintain adequate internal control
      over financial reporting for Golden Valley. It is the President’s and
      Treasurer’s ultimate responsibility to ensure the Company maintains disclosure
      controls and procedures designed to provide reasonable assurance that material
      information, both financial and non-financial, and other information required
      under the securities laws to be disclosed is identified and communicated to
      senior management on a timely basis. The Company’s disclosure controls and
      procedures include mandatory communication of material events, management review
      of monthly, quarterly and annual results and an established system of internal
      controls.





As
      of
      December 31, 2005, management of the Company, including the President and
      Treasurer, conducted an evaluation of the effectiveness of the design and
      operation of the Company’s disclosure controls and procedures with respect to
      the information generated for use in this Annual Report. Based upon and as
      of
      the date of that evaluation, the President and Treasurer have concluded the
      Company’s disclosure controls were effective to provide reasonable assurance
      that information required to be disclosed in the reports that the Company files
      or submits under the relevant securities laws is recorded, processed, summarized
      and reported within the time periods specified in the Commission’s rules and
      forms. There have been no changes in the Company’s internal control over
      financial reporting during the fiscal year ended December 31, 2005, that have
      materially affected, or are reasonably likely to materially affect, the
      Company’s internal control over financial reporting.





It
      should
      be noted that while the Company’s management, including the President and
      Treasurer, believes the Company’s disclosure controls and procedures provide a
      reasonable level of assurance, they do not expect that the Company’s disclosure
      controls and procedures or internal control over financial reporting will
      prevent all errors and all fraud. A control system, no matter how well conceived
      or operated, can provide only reasonable, not absolute, assurance the objectives
      of the control system are met. Further, the design of a control system must
      reflect the fact there are resource constraints, and the benefits of controls
      must be considered relative to their costs. Because of the inherent limitations
      in all control systems, no evaluation of controls can provide absolute assurance
      all control issues and instances of fraud, if any, have been detected. These
      inherent limitations include the realities that judgments in decision-making
      can
      be faulty, and breakdowns can occur because of simple error or mistake.
      Additionally, controls can be circumvented by the individual acts of some
      persons, by collusion of two or more people, or by management override of the
      controls. The design of any system of controls is based in part upon certain
      assumptions about the likelihood of future events, and there can be no assurance
      any design will succeed in achieving its stated goals under all potential future
      conditions; over time, controls may become inadequate because of changes in
      conditions, or the degree of compliance with the policies or procedures may
      deteriorate. Because of the inherent limitations in a cost-effective control
      system, misstatements due to errors or fraud may occur and not be detected.





-13-


**Directors,
      Executive Officers, Promoters and Control Persons; Compliance With Section
      16(a)
      of the Exchange Act.**





Annette
      Davis ,
      53,
      director and treasurer - elected to directorship and office on July 26, 2004
      to
      serve for one year; re-elected to both positions on July 26, 2005 for additional
      one-year term.





Ms.
      Davis
      had been CFO of Bakersfield Produce & Distributing, in Bakersfield,
      California, from 1977 until its closure in May, 2002. Bakersfield Produce had
      revenues exceeding $60,000,000 annually. She supervised its accounting
      department, reviewed balance sheets and income statements, approved capital
      expenditures, coordinated with CPAs for audit and tax filings purposes, and
      negotiated contracts with legal departments. Ms. Davis was responsible for
      this
      corporation’s fiscal aspects.





Ms.
      Davis
      had also served as Controller of Andes River Company, LLC, in Bakersfield,
      California, from 1999 until it ceased operations in December of 2003. She held
      the fiscal responsibilities of this company, which imported produce from the
      South American country of Chile and distributed it on the East Coast, with
      revenues of $40 million annually. Ms. Davis was responsible for its income
      and
      balance sheets, accounting department, approved all expenditures and outside
      business, established credit lines for the company, and coordinated with CPAs
      for tax returns in three states.





Ms.
      Davis
      is also currently President of Adavco, Inc., a real estate development company.
      Ms. Davis has been in that position since co-founding Adavco in 1982, and is
      the
      supervisor of accounting for Adavco projects, which include apartment buildings
      and custom homes.





From
      1999-2004, Ms. Davis was also Treasurer of Fresh Veg Broker.com, Inc., our
      former parent company whose business plan, which never was successful, was
      to
      create a website where buyers and sellers of produce could do deals with each
      other online.





Ms.
      Davis
      is also the sole director of Pebble Beach Enterprises, Inc., which is also
      a
      reporting company under The Securities Exchange Act of 1934. She has been its
      director since July of 2004. As we describe above in our Description of Business
      section, Pebble Beach was at one time a subsidiary of our former parent, Fresh
      Veg Broker.com. In that respect, Pebble Beach and Golden Valley were considered
      “sister” companies until both we and Pebble Beach were spun off from Fresh Veg
      in 2004. Pebble Beach has a totally different business plan than we do, but
      Annette Davis serves as director of both companies. She is not an officer of
      Pebble Beach.





Art
      Davis ,
      56,
      director, president and secretary - elected to directorship and offices on
      July
      26, 2004 to serve for one year; re-elected to all positions on July 26, 2005
      for
      additional one-year term.





Mr.
      Davis
      had served as Vice-president of Bakersfield Produce & Distributing from 1977
      until it ceased operations in 2002 in Bakersfield, California. The company
      added
      a consolidation point for chain supermarkets in 1979. In 1980, he was
      responsible for bringing in employees to begin a produce brokerage operation.
      The brokerage sales increased so rapidly that the wholesale and consolidations
      divisions were sold and Bakersfield Produce became Bakersfield Produce &
Distributing Company, which grew to become one of the largest produce brokerage
      firms in the United States.





As
      Vice
      President, he was responsible for buying fresh fruit and vegetables from
      California and Arizona for shipment to several large supermarket chains on
      the
      East coast. Mr. Davis was personally responsible for shipping over 125 loads
      of
      produce per week and dealt with most of the shippers in the produce industry
      due
      to the volume of the business.


-14-


Mr.
      Davis
      is also currently Vice-President of Adavco, Inc., a real estate development
      company. Mr. Davis has been in that position since co-founding Adavco in 1982,
      and is a licensed contractor overseeing Adavco projects, which include apartment
      buildings and custom homes.





From
      1999-2004, Mr. Davis was also President of Fresh Veg Broker.com, Inc., our
      former parent company whose business plan, which never was successful, was
      to
      create a website where buyers and sellers of produce could do deals with each
      other online.





Arthur
      Davis is the husband of Annette Davis.


Annette
      Davis is the wife of Arthur Davis.





Neither
      of the directors or executives of Golden Valley, nor any promoter or control
      person, was involved in any bankruptcy or insolvency action, nor was involved
      in
      any business which was involved in any such action at or within 2 years before
      the time of such filing, nor any criminal proceeding nor found to be in
      violation of any securities or futures laws or regulations nor has been barred
      or otherwise enjoined from participating in any type of business, securities
      or
      banking activities.





We
      do not
      have an audit committee financial expert serving on our audit committee, due
      to
      our relatively light revenues and operations and unreasonable expense an audit
      committee financial expert would pose for our business.





Golden
      Valley has adopted a Code of Ethics that applies to our principle executive
      officer (Arthur Davis), principal financial officer (Annette Davis), and
      principal controller (Annette Davis) and has posted it on our website www.goldenvalleydevelopment.com .





We
      undertake to provide to any person without charge, upon request, a copy of
      our
      Code of Ethics. To receive a copy of our Code of Ethics, mail a request for
      such
      to: Golden Valley Development, Inc., P.O. Box 2346, Bakersfield, CA 93303.





**Executive
      Compensation.**





None
      of
      the officers or directors of Golden Valley is compensated nor has received
      any
      compensation, including any options or stock appreciation rights.





We
      have
      no employee contracts of any kind.





**Security
      Ownership of Certain Beneficial Owners and Management.**





We
      have
      no equity compensation plans or other arrangements and had none in the fiscal
      year covered by this Form.





We
      have
      only one class of securities - our Common Stock.


-15-


The
      following represents the security ownership of the only person who owns more
      than five percent of our outstanding Common Stock:





Annette
                Davis
            38,054,331
                shares1
            95.1%
                of classc/o
                Golden Valley Development, Inc.
            Direct
                ownership1200
                Truxton Avenue #130Bakersfield,
                CA 93301





The
      following represents the security ownership of all members of
      management:





Annette
                Davis
              Director
                and Treasurer
            38,054,331
                shares2
            95.1%
                of classc/o
                Golden Valley Development, Inc.
            Direct
                ownership1200
                Truxton Avenue #130Bakersfield,
                CA 93301





Art
                Davis
              Director,
                President and Secretary
            0
                shares3
            0%
                of classc/o
                Golden Valley Development, Inc.
            Direct
                ownership1200
                Truxton Avenue #130Bakersfield,
                CA 93301


1 There
          are no shares which the listed beneficial owner has the right to acquire
          within
          sixty days, from options, warrants, rights, conversion privilige or similar
          obligations or instruments.
 2 There
          are no shares which the listed beneficial owner has the right to acquire
          within
          sixty days, from options, warrants, rights, conversion privilige or similar
          obligations or instruments.
 3 There
          are no shares which the listed beneficial owner has the right to acquire
          within
          sixty days, from options, warrants, rights, conversion privilige or similar
          obligations or instruments.


**Certain
      Relationships and Related Transactions.**





We
      receive approximately 500 square feet of office space at 1200 Truxton Avenue,
      suite 130 in Bakersfield, California from Adavco, Inc., a company controlled
      by
      our management team, Art and Annette Davis, on a rent free basis. We have a
      verbal but reliable agreement with Adavco to continue in this fashion for the
      forseeable future.





Otherwise,
      there have been no transactions, nor are there any proposed transactions,
      involving us, wherein there was some indirect or direct material interest on
      the
      part of one of our management personnel, control persons, promoters, major
      shareholders, or any of these persons’ family members.





We
      have
      no parent companies.





The
      names
      of our promoters are as follows:





Fresh
      Veg
      Broker.com, Inc., a Nevada corporation





H.
      Arthur
      Davis





Annette
      Davis


-16-


On
      July
      26, 2004, Fresh Veg Broker.com, Inc. gave us the business plan for the commodity
      brokerage business which we now are utilizing, which we place at a basis value
      of $0. In exchange, we issued 40,000,000 shares of our Common Stock to Fresh
      Veg. The value of the shares and the business plan were determined by our
      management, Art and Annette Davis.





Outside
      of the above, none of our promoters has received nor is to be given anything
      of
      value by us.








**Index
      to Exhibits.**





Index
      No.  Description





Exhibit
                3.1
            Item
                601(b)(3)(i)
            Articles
                of Incorporation 1Exhibit
                3.2
            Item
                601(b)(3)(ii)
            Bylaws1Exhibit
                14
            Item
                601(b)(14)
            Code
                of ethics 2Exhibit
                31.1 and 31.2
            Item
                601(b)(31)
            Rule
                13a-14(a)/15d-14(a) Certifications (attached)Exhibit
                32.1and 32.2
            Item
                601(b)(32)
            Section
                1350 (attached)


1 These
      exhibits are hereby incorporated by reference to our Registration Statement
      on
      Form 10-SB filed November 29, 2005. File No. 0-51637.


2These
      exhibits are hereby incorporated
      by reference to our Annual Report on Form 10KSB filed May 1,
      2006.  File No. 0-51637.


There
      are
      no management contracts or compensatory plans or arrangements required to be
      filed as an exhibit to this form.




**Principal
      Accountant Fees and Services.**





Audit
      Fees





Aggregate
      fees billed for fiscal year 2005 for professional services rendered by the
      principal accountant for the audit of our annual financial statements, review
      of
      quarterly statements and other services provided in connection with statutory
      or
      regulatory filings or engagements: $12,420.





Aggregate
      fees billed for fiscal year 2004 for professional services rendered by the
      principal accountant for the audit of our annual financial statements, review
      of
      quarterly statements and other services provided in connection with statutory
      or
      regulatory filings or engagements: $2,250.





Audit-Related
      Fees





Aggregate
      fees billed in fiscal year 2005 for assurance and related services by the
      principal accountant that are reasonably related to the performance of the
      audit
      or review of our financial statements and are not reported under the “Audit
      Fees” caption above: $0.


-17-





Aggregate
      fees billed in fiscal year 2004 for assurance and related services by the
      principal accountant that are reasonably related to the performance of the
      audit
      or review of our financial statements and are not reported under the “Audit
      Fees” caption above: $0.





Tax
      Fees





Aggregate
      fees billed in fiscal year 2005 for professional services rendered by the
      principal accountant for tax compliance, tax advice and tax planning: $0.





Aggregate
      fees billed in fiscal year 2004 for professional services rendered by the
      principal accountant for tax compliance, tax advice and tax planning: $0.





All
      Other
      Fees





Aggregate
      fees billed in fiscal year 2005 for products and services provided by the
      principal accountant, other than the services reported above: $0.





Aggregate
      fees billed in fiscal year 2004 for products and services provided by the
      principal accountant, other than the services reported above: $0.





Golden
      Valley’s audit committee’s pre-approval policy is to retain the services of a
      professional accountant only once the threshhold established by Rule 2-01 of
      Regulation S-X has been met.





The
      audit
      committee’s pre-approval procedure is to carefully establish that each of the
      tests delineated in paragraphs (b) and (c)(1)-(3) of Rule 2-01 of Regulation
      S-X
      are met.


-18-


**SIGNATURES**





In
      accordance with Section 13 of the Exchange Act, the registrant caused this
      report to be signed on its behalf by the undersigned, thereunto duly
      authorized.





GOLDEN
      VALLEY DEVELOPMENT, INC.





By:/s/
      H.
      Arthur Davis


H.
      Arthur
      Davis, President





May
      30,
      2006





In
      accordance with the Exchange Act, this report has been signed below by the
      following persons on behalf of the registrant and in the capacities and on
      the
      dates indicated.








By:/s/
      H.
      Arthur Davis


H.
      Arthur
      Davis, President, Principal


Executive
      Officer and a Director








May
      30,
      2006








By:/s/
      Annette Davis


Annette
      Davis, Treasurer, Principal


Financial
      Officer and Controller and a


Director








May
      30,
      2006


-19-