SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   Form 10-QSB


           [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                       For Quarter ended November 30, 2002

           [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
                         OF THE SECURITIES EXCHANGE ACT OF 1934

              For the transition period from _________to _________

                           Commission File No 0-49669

                                  JONING CORP.
         ---------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            Nevada                                                88-0376372
 ------------------------------                                   ----------
(State or other jurisdiction of                                 (IRS Employer
 incorporation or organization)                                   ID Number)

                    2311 Bear Hills Court, Draper, Utah 84020
                    -----------------------------------------
                    (Address of principal executive offices)

                                 (801) 553-2150
                             ------------------------
                            Issuer's Telephone Number


              (Former name, former address and former fiscal year,
                         if changed since last report)

INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED
TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING
THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS
REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING
REQUIREMENTS FOR THE PAST 90 DAYS.
                                Yes     No  X
                                   -----  -----

As of November 30, 2002, the issuer had 10,144,800 shares of common stock, par
value $.001 per share issued and outstanding.

<PAGE>





                         PART I - Financial Information

Item 1. Financial Statements

The unaudited financial statements of registrant for the three months ended
November 30, 2002 follow. The financial statements reflect all adjustments which
are, in the opinion of management, necessary to a fair statement of the results
for the interim period presented.

                                      -2-

<PAGE>


                                  JONING CORP.
                     (FORMERLY GLOBAL STOCK EXCHANGE CORP.)
                                 Balance Sheets


                                     ASSETS


                                                      November 30,   August 31,
                                                          2002         2002
                                                        --------     --------

Current assets:

  Cash                                                  $   --           --
                                                        --------     --------
Property and equipment, net                                 --           --
                                                        --------     --------
Other assets                                                --           --
                                                        --------     --------
                                                        $   --       $   --
                                                        ========     ========



                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


Current liabilities:

   Due to officer/stockholder                           $  5,781     $  5,781
   Accrued expenses                                          593          448
                                                        --------     --------
                                                           6,374        6,229
                                                        --------     --------

Stockholders' equity (deficit):
  Common stock; $.001 par value; authorized -
      25,000,000 shares; issued and outstanding -
      10,144,800 shares                                   10,145       10,145
   Additional paid-in capital                             36,303       36,303
   Accumulated deficit                                   (52,822)     (52,677)
                                                        --------     --------
        Total stockholders' equity (deficit)              (6,374)      (6,229)
                                                        --------     --------
                                                        $   --       $   --
                                                        ========     ========


                                      -3-

<PAGE>


                                  JONING CORP.
                     (FORMERLY GLOBAL STOCK EXCHANGE CORP.)
                            Statements of Operations



                                                     Three             Three
                                                  Months Ended     Months Ended
                                                  November 30,      November 30,
                                                      2002             2001
                                                  ------------     ------------

Income (loss) from operations                     $       --       $       --
                                                  ------------     ------------

Loss from discontinued operations                         (145)          (3,000)
                                                  ------------     ------------

Net loss                                          $       (145)    $     (3,000)
                                                  ============     ============


Loss per common share                             $       (.00)    $       (.00)
                                                  ============     ============

Weighted average common shares outstanding          10,144,800       10,144,800
                                                  ============     ============

                                      -4-

<PAGE>
<TABLE>
<CAPTION>


                                     JONING CORP.
                        (FORMERLY GLOBAL STOCK EXCHANGE CORP.)
                     Statements of Changes in Stockholders' Equity
               For the Period August 31, 2001 to November 30, 2002




                                     Common Stock            Additional
                               --------------------------     Paid-in     Accumulated
                                  Shares         Amount       Capital       Deficit
                               -----------    -----------   -----------   -----------
<S>                            <C>            <C>           <C>           <C>
Balances, August 31, 2001       10,144,800    $    10,145   $    36,303   $   (46,448)

   Net loss                                                                    (6,229)
                               -----------    -----------   -----------   -----------

Balances, August 31, 2002       10,144,800         10,145        36,303       (52,677)

 Net loss for the period                                                         (145)
                               -----------    -----------   -----------   -----------
Balances, November 30, 2002     10,144,800    $    10,145   $    36,303   $   (52,822)
                               ===========    ===========   ===========   ===========

                                         -5-
</TABLE>

<PAGE>


                                  JONING CORP.
                     (FORMERLY GLOBAL STOCK EXCHANGE CORP.)
                            Statements of Cash Flows



                                                        Three          Three
                                                     Months Ended   Months Ended
                                                     November 30,   November 30,
                                                        2002           2001
                                                     -----------    -----------

Cash flows from operating activities:
   Net loss                                          $      (145)   $    (3,000)
   Adjustments to reconcile net loss to net cash
        used in operating activities:
     Payment of expenses by stockholder                     --            3,000
        Changes in assets and liabilities                   --             --
       Increase in accrued expenses                          145           --
                                                     -----------    -----------
       Net cash used in operating activities                --             --
                                                     -----------    -----------
Cash flows from investing activities                        --             --
                                                     -----------    -----------
Cash flows from financing activities                        --             --
                                                     -----------    -----------
Net decrease in cash                                        --             --
                                                     -----------    -----------
Cash - beginning                                            --             --
                                                     -----------    -----------
Cash - ending                                        $      --      $      --
                                                     ===========    ===========

                                      -6-


<PAGE>


                                  JONING CORP.
                     (FORMERLY GLOBAL STOCK EXCHANGE CORP.)
                                   FORM 10QSB
                         QUARTER ENDED NOVEMBER 31, 2002
                          Notes to Financial Statements
                                   (Unaudited)


Note 1 - Condensed Financial Statements

Basis of Presentation

The accompanying interim unaudited financial statements include the accounts of
Joning Corp. (formerly Global Stock Exchange Corp.), which is hereafter referred
to as (the "Company").

These financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America for interim
financial information and with the instructions to Form 10-QSB of Regulation
S-B. Accordingly, they do not include all of the information and footnotes
required by accounting principles generally accepted in the United States of
America for complete financial statements. In the opinion of management, such
interim statements reflect all adjustments (consisting of normal recurring
accruals) necessary to present fairly the financial position and the results of
operations and cash flows for the interim period presented. The results of
operations for the interim period are not necessarily indicative of the results
to be expected for the year ending August 31, 2003. These financial statements
should be read in conjunction with the audited financial statements and
footnotes included in the Company's report on Form 10-SB for the year ended
August 31, 2002.

                                      -7-

<PAGE>


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

     The Company is inactive with no assets and an accumulated deficit and with
limited operations or income since July, 2000. It is anticipated that the
Company will require only nominal capital to maintain the corporate viability of
the Company and any additional needed funds will most likely be provided by the
Company's existing shareholders or its officers and directors in the immediate
future. Current shareholders have not agreed upon the terms and conditions of
future financing and such undertaking will be subject to future negotiations.
Repayment of any such funding will also be subject to such negotiations.
However, unless the Company is able to facilitate an acquisition of or merger
with an operating business or is able to obtain significant outside financing,
there is substantial doubt about its ability to continue as a going concern.

     In the opinion of management, inflation has not and will not have a
material effect on the operations of the Company until such time as the Company
successfully completes an acquisition or merger. At that time, management will
evaluate the possible effects of inflation on the Company as it relates to its
business and operations following a successful acquisition or merger.

     Management plans may but do not currently provide for experts to secure a
successful acquisition or merger partner so that it will be able to continue as
a going concern. In the event such efforts are unsuccessful, existing
shareholders have expressed an interest in additional funding if necessary to
continue the Company as a going concern, and to provide funding for required
future filings under the Securities Exchange Act of 1934.

Plan of Operation

     During the next twelve months, the Company will actively seek out and
investigate possible business opportunities with the intent to acquire or merge
with one or more business ventures. Because the Company has limited funds, it
may be necessary for the officers and directors to either advance funds to the
Company or to accrue expenses until such time as a successful business
consolidation can be made. The Company will not make it a condition that the
target company must repay funds advanced by its officers and directors.
Management intends to hold expenses to a minimum and to obtain services on a
contingency basis when possible. Further, the Company's directors will defer any
compensation until such time as an acquisition or merger can be accomplished.
However, if the Company engages outside advisors or consultants in its search
for business opportunities, it may be necessary for the Company to attempt to
raise additional funds. As of the date hereof, the Company has not made any
arrangements or definitive agreements to use outside advisors or consultants or
to raise any capital. In the event the Company does need to raise capital, most
likely the only method available to the Company would be private sales of its
securities. Because of the nature of the Company as a development stage company,
it is unlikely that it could make a public sale of securities or be able to
borrow any significant sum from either a commercial or private lender. There can
be no assurance that the Company will be able to obtain additional funding when
and if needed, or that such funding, if available, can be obtained on terms
acceptable to the Company.

     The Company does not intend to use any employees, with the possible
exception of part-time clerical assistance on an as-needed basis. Outside
advisors or consultants will be used only if they can be obtained for minimal
cost or on a deferred payment basis. Management is convinced that it will be
able to operate in this manner and to continue its search for business
opportunities during the next twelve months.

                                      -8-

<PAGE>


Forward-Looking Statements

     This Form 10-QSB includes "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical facts, included or incorporated by reference in this
Form 10-QSB which address activities, events or developments which the Company
expects or anticipates, will or may occur in the future, including such things
as future capital expenditures (including the amount and nature thereof),
finding suitable merger or acquisition candidates, expansion and growth of the
Company's business and operations, and other such matters are forward-looking
statements. These statements are based on certain assumptions and analysis made
by the Company in light of its experience and its perception of historical
trends, current conditions and expected future developments as well as other
factors it believes are appropriate in the circumstances. However, whether
actual results or developments will conform with the Company's expectations and
predictions is subject to a number of risks and uncertainties, general economic
market and business conditions; the business opportunities (or lack thereof)
that may be presented to and pursued by the Company; changes in laws or
regulation; and other factors, most of which are beyond the control of the
Company. Consequently, all of the forward-looking statements made in this Form
10-QSB are qualified by these cautionary statements, and there can be no
assurance that the actual results or developments anticipated by the Company
will be realized or, even if substantially realized, that they will have the
expected consequence to or effects on the Company or its business or operations.
The Company assumes no obligations to update any such forward-looking
statements.


                                     PART II

Item 6.   Exhibits and reports on Form 8-K

          (a)  The exhibits required to be filed herewith by Item 601 of
               regulation S-B, as described in the following index of exhibits,
               are incorporated herein by reference, as follows:

Exhibit No.         Description
-----------         -----------

3(i)                Articles of Incorporation of Joning Corp. (1)

3(ii)               By-Laws of Joning Corp. (1)

(1)  Incorporated by reference from the Form 10-SB filed by the Company on March
     8, 2002.
-----------

          (b)  No reports on Form 8-K were filed by the Company for the quarter
               ended November 30, 2002

                                      -9-

<PAGE>


                                   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.

Dated February 26, 2003

                                            JONING CORP.


                                            By:  /s/  John O.Jones, Jr.
                                               --------------------------------
                                                      John O. Jones, President


                                      -10-

<PAGE>


                                  CERTIFICATION

I, John O. Jones, Jr. certify that:

     1.   I have read this quarterly report on Form 10-QSB of Joning
          Corporation;

     2.   To my knowledge the information in this report is true in all
          important respects as of February 26, 2003; and

     3.   This report contains all information about the company of which I am
          aware that I believe important to a reasonable investor, in light of
          the subjects required to be addressed in this report as of February
          26, 2003.

For purposes of this certification, information is "important to a reasonable
investor" if:

          (a)  There is a substantial likelihood that a reasonable investor
               would view the information as significantly altering the total
               mix of information in the report; and

          (b)  The report would be misleading to a reasonable investor if the
               information was omitted from the report.


Date: February 26, 2003

                                            /s/  John O. Jones, Jr.
                                            -----------------------------------
                                                 John O. Jones, Jr. President

                                      -11-