SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   Form 10-QSB
                                Amendment No. 1

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

                         For Quarter ended May 31, 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 ID Number)
 incorporation or organization)

                    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 May 31, 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 May
31, 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.



<PAGE>



                                TABLE OF CONTENTS







                                                                        Page No.


FINANCIAL STATEMENTS

             Balance sheets............................................... F-2

             Statement of Operations...................................... F-3

             Statement of Changes in Stockholders' Equity................. F-4

             Statement of Cash Flows...................................... F-5

             Notes to Financial Statements................................ F-6


    The accompanying notes are an integral part of the financial statements.


                                      F-2

<PAGE>




                               STEWART H. BENJAMIN
                        CERTIFIED PUBLIC ACCOUNTANT, P.C.
                              27 SHELTER HILL ROAD
                               PLAINVIEW, NY 11803

                            TELEPHONE: (516) 933-9781
                            FACSIMILE: (516) 827-1203



                         INDEPENDENT ACCOUNTANT'S REPORT
                         -------------------------------



To the Board of Directors and Stockholders
Joning Corp.
Staten Island, New York

I have reviewed the accompanying balance sheet of Joning Corp. as of May 31,
2002, and the related statements of operations, stockholders' equity and cash
flows, for the nine months ended May 31, 2002 and 2001. These financial
statements are the responsibility of the company's management.

I conducted my reviews in accordance with standards established by the American
Institute of Certified Public Accountants. A review of interim financial
information consists principally of applying analytical procedures to financial
data and making inquiries of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a whole.
Accordingly, I do not express such an opinion.

Based on my reviews, I am not aware of any material modifications that should be
made to the accompanying financial statements in order for them to be in
conformity with generally accepted accounting principles.




STEWART H. BENJAMIN
CERTIFIED PUBLIC ACCOUNTANT, P.C.

Plainview, New York

November 18, 2002


                                       F-1

<PAGE>


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


                                     ASSETS
                                     ------


                                                           May 31,    August 31,
                                                            2002         2001
                                                          --------     --------

Current assets:
   Cash                                                   $   --       $   --
                                                          --------     --------

Property and equipment, net                                   --           --
                                                          --------     --------

Other assets                                                  --           --
                                                          --------     --------

                                                          $   --       $   --
                                                          ========     ========


                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
                 ---------------------------------------------


Current liabilities:
   Due to an officer/stockholder                          $  5,000     $   --
                                                          --------     --------

Stockholders' equity:
  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                                     (51,448)     (46,448)
                                                          --------     --------
        Total stockholders' equity (deficit)                (5,000)         --
                                                          --------     --------

                                                          $   --       $   --
                                                          ========     ========


                  See accompanying accountant's review report.

                                        F-2

<PAGE>



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



                                                      Nine            Nine
                                                   Months Ended    Months Ended
                                                     May 31,          May 31,
                                                      2002             2001
                                                  ------------     ------------

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

Loss from discontinued operations                       (5,000)         (20,469)
                                                  ------------     ------------

Net loss                                          $     (5,000)    $    (20,469)
                                                  ============     ============

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

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






                  See accompanying accountant's review report.

                                       F-3



<PAGE>
<TABLE>
<CAPTION>

                                                      JONING CORP.
                                         (FORMERLY GLOBAL STOCK EXCHANGE CORP.)
                                      Statements of Changes in Stockholders' Equity
                                     For the Period September 1, 2000 to May 31, 2002




                                                  Common Stock                     Additional
                                         ---------------------------------          Paid-in           Accumulated
                                           Shares                Amount             Capital            Deficit
                                         -----------          ------------        -----------         -----------


<S>                                       <C>                 <C>                 <C>                 <C>
Balances, September 1, 2000               10,144,800          $    10,145         $    15,834         $   (25,979)

   Additional capital contribution              --                   --                20,469                --

   Net loss                                                                                               (20,469)
                                         -----------          -----------         -----------         -----------
Balances, August 31, 2001                 10,144,800               10,145              36,303             (46,448)

   Net loss for the period                                                                                 (5,000)
                                         -----------          -----------         -----------         -----------

Balances, May 31, 2002                    10,144,800          $    10,145         $    36,303         $   (51,448)
                                         ===========          ===========         ===========         ===========




                                      See accompanying accountant's review report.

                                                          F-4

<PAGE>



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




                                                           Nine             Nine
                                                       Months Ended     Months Ended
                                                          May 31,          May 31,
                                                           2002             2001
                                                       -------------    ------------

Cash flows from operating activities:
   Net loss                                            $     (5,000)     $(20,469)
   Adjustments to reconcile net loss to net
      cash used in operating activities:
      Payment of expenses by stockholder                      5,000        20,469
        Changes in assets and liabilities                       --           --
                                                       -------------     --------
        Net cash used in operating activities                   --           --
                                                       -------------     --------
Cash flows from investing activities                            --           --
                                                       -------------     --------

Cash flows from financing activities                            --           --
                                                       -------------     --------

Net decrease in cash                                            --           --
Cash - beginning                                                --           --
                                                       -------------     --------

Cash - ending                                          $        --       $   --
                                                       =============     ========




                  See accompanying accountant's review report.

                                       F-5

</TABLE>


<PAGE>



                                  JONING CORP.
                     (FORMERLY GLOBAL STOCK EXCHANGE CORP.)
                                   FORM 10QSB
                           QUARTER ENDED MAY 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, 2002. 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, 2001.

Note 2 - Related Party Transactions

The company was indebted to an officer/stockholder for expenses advanced in the
amount of $5,000 at May 31, 2002. The Company has issued a promissory note to
the officer/stockholder which will be paid with proceeds received from a merger
transaction, and bears interest at a rate of 10% per annum. Interest expense has
not been provided for in the statement of operations.




                                       F-6





<PAGE>


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

     The Company is considered a development stage company with limited assets
or capital, 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

                                       -2-

<PAGE>


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.

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.

                                      -3-

<PAGE>


                                     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 May 31, 2002.

                                       -4-

<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:  January 21, 2003

                                            JONING CORP.


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


                                       -5-

<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 January 22, 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 January 22, 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: January 22, 2003

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