# UNITED STATESSECURITIES
AND EXCHANGE COMMISSIONWashington, D.C. 20549

# Form 10-QSB

# Mark One)

# [x]    QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

# For the quarterly
period ended: June 30, 2004

# [ ] TRANSITION REPORT UNDER
SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934

For the transition
period from __________ To __________

Commission file number
0-27737

Canglobe
International, Inc.(Exact name of small business issuer as specified in its charter)

| |                                                                       |                                                
| | --------------------------------------------------------------------- | -----------------------------------------------
| | Nevada
(State or other jurisdiction of Incorporation or
organization) | 77-0454856
(I.R.S. Employer Identification No.)

#206, 10458 Mayfield
Road, Edmonton, AB, Canada T5P 4P4(Address of Principal
Executive Offices)

(780) 444-7133 (Issuers
telephone number)

APPLICABLE ONLY TO
CORPORATE ISSUERS

State
the number of shares outstanding of each of the issuers classes of common equity, as
of the latest practical date:July 28, 2004 3,050,577

Transitional
Small Business Disclosure Format (check one).     Yes;  NoX



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# PART I

# Item 1. Financial
Statements

CANGLOBE
INTERNATIONAL, INC.(A Development Stage
Company)BALANCE SHEETS(Unaudited)

|                                           | June 30,
2004 | December 31,
2003
|------------------------------------------ | ------------- | -----------------
|Assets:                                    |               |                  
|Cash and cash equivalents                  |               |                  
|                                           |               |                  
|Total Current Assets                       |               |                  
|                                           |               |                  
|Property and Equipment:                    |               |                  
|Computer equipment                         |               |                  
|Furniture and equipment                    |               |                  
|                                           |               |                  
|                                           |               |                  
|Less accumulated depreciation              |               |                  
|                                           |               |                  
|Net Property and Equipment                 |               |                  
|                                           |               |                  
|Total Assets                               |               |                  
|                                           |               |                  
|Liabilities and Shareholders' Equity       |               |                  
|Liabilities:                               |               |                  
|Accounts payable and accrued liabilities   |               |                  
|                                           |               |                  
|Total current liabilities                  |               |                  
|Due to shareholders                        |               |                  
|                                           |               |                  
|Total liabilities                          |               |                  
|                                           |               |                  
|Stockholders' Equity:                      |               |                  
|Common Stock, Par value $.001, Authorized  |               |                  
|100,000,000 shares, Issued 3,050,577       |               |                  
|at June 30, 2004 and December 31, 2003     |               |                  
|Paid-In Capital                            |               |                  
|Retained Deficit                           |               |                  
|Deficit Accumulated During the             |               |                  
|Development Stage                          |               |                  
|                                           |               |                  
|Total Stockholders' Equity                 |               |                  
|                                           |               |                  
|Total Liabilities and Stockholders' Equity |               |                  
|                                           |               |                  

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



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CANGLOBE
INTERNATIONAL, INC.(A Development Stage
Company)STATEMENTS OF
OPERATIONS(Unaudited)

|                           | For the Three Months Ended
June 30, | For the Six Months Ended
June 30, | Cumulative
Since
December 1,
2001
Inception of
Development
|-------------------------- | ----------------------------------- | --------------------------------- | ----------------------------------------------------------
|
|Revenues                   |                                     |                                   | $                                                         
|                           |                                     |                                   |                                                           
|Expenses:                  |                                     |                                  
|General and Administrative |                                     |                                   |                                                           
|                           |                                     |                                   |                                                           
|Total Expenses             |                                     |                                   |                                                           
|                           |                                     |                                   |                                                           
|Operating  Loss            |                                     |                                   |                                                           
|Other Expense:             |                                     |                                  
|Interest Expense           |                                     |                                   |                                                           
|                           |                                     |                                   |                                                           
|Total Other Expense        |                                     |                                   |                                                           
|                           |                                     |                                   |                                                           
|Net Loss                   |                                     |                                   | $                                                         
|                           |                                     |                                   |                                                           
|Loss per Share, Basic &    |                                     |                                  
|Diluted                    |                                     |                                   | $                                                         
|                           |                                     |                                   |                                                           
|Weighted Average Shares    |                                     |                                  
|Outstanding                |                                     |                                   |                                                           
|                           |                                     |                                   |                                                           

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



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CANGLOBE
INTERNATIONAL, INC. (A Development Stage
Company)STATEMENTS OF CASH
FLOWS(Unaudited)

|                                                                        | For the Six Months Ended
June 30, | Cumulative
Since
December 1,
2001
Inception of
Development
|----------------------------------------------------------------------- | --------------------------------- | ----------------------------------------------------------
|
|CASH FLOWS FROM OPERATING ACTIVITIES:                                   |                                   |                                                           
|Net Loss for the Period                                                 |                                   |                                                           
|Adjustments to reconcile net loss to net cash                           |                                   |                                                           
|provided by operating activities:                                       |                                   |                                                           
|Depreciation and amortization                                           |                                   |                                                           
|Common Stock Issued for Services                                        |                                   |                                                           
|Changes in Operating Assets and Liabilities                             |                                   |                                                           
|Increase (Decrease) in Accounts Payable                                 |                                   |                                                           
|Increase (Decrease) in Accrued Interest                                 |                                   |                                                           
|                                                                        |                                   |                                                           
|Net Cash Used in operating activities                                   |                                   |                                                           
|                                                                        |                                   |                                                           
|CASH FLOWS FROM INVESTING ACTIVITIES:                                   |                                   |                                                           
|Purchase of property and equipment                                      |                                   |                                                           
|                                                                        |                                   |                                                           
|Net cash provided by investing activities                               |                                   |                                                           
|                                                                        |                                   |                                                           
|CASH FLOWS FROM FINANCING ACTIVITIES:                                   |                                   |                                                           
|Proceeds from shareholders                                              |                                   |                                                           
|                                                                        |                                   |                                                           
|Net Cash Provided by Financing Activities                               |                                   |                                                           
|                                                                        |                                   |                                                           
|Net (Decrease) Increase in Cash                                         |                                   |                                                           
|Cash at Beginning of Period                                             |                                   |                                                           
|                                                                        |                                   |                                                           
|Cash at End of Period                                                   |                                   |                                                           
|                                                                        |                                   |                                                           
|SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                       |                                   |                                                           
|Cash paid during the year for:                                          |                                   |                                                           
|Interest                                                                |                                   |                                                           
|Franchise and income taxes                                              |                                   |                                                           
|SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: |                                   |                                                           
|Note Payable Converted to Stock                                         |                                   |                                                           

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



---

CANGLOBE
INTERNATIONAL, INC. (A Development Stage
Company)NOTES TO FINANCIAL
STATEMENTS

NOTE 1  NATURE OF
OPERATIONS AND GOING CONCERN

The
accompanying financial statements have been prepared on the basis of accounting principles
applicable to a going concern, which assume that the Company will continue in
operation for at least one year and will be able to realize its assets and discharge its
liabilities in the normal course of operations.

Several
conditions and events cast doubt about the Companys ability to continue as a
going concern. The Company has incurred net losses of approximately $574,000
for the period from April 7, 1997 (inception) to June 30, 2004, has a liquidity problem,
and requires additional financing in order to finance its business activities on an
ongoing basis. The Company is actively pursuing alternative financing and has had
discussions with various third parties, although no firm commitments have been obtained.

The
Companys ability to survive will depend on numerous factors including, but not
limited to, the Companys receiving continued financial support, completing public
equity financing, or generating profitable operations in the future.

These
financial statements do not reflect adjustments that would be necessary if the Company
were unable to continue as a going concern. While management believes that the
actions already taken or planned, will mitigate the adverse conditions and events which
raise doubt about the validity of the going concern assumption used in
preparing these financial statements, there can be no assurance that these actions will be
successful.

If
the Company were unable to continue as a going concern, then substantial
adjustments would be necessary to the carrying values of assets, the reported amounts of
its liabilities, the reported revenues and expenses, and the balance sheet classifications
used.

NOTE 2 
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This
summary of accounting policies for Canglobe International, Inc. is presented to assist in
understanding the Companys financial statements. The accounting policies conform to
generally accepted accounting principles and have been consistently applied in the
preparation of the financial statements.

Interim Financial
Statements

The
unaudited financial statements as of June 30, 2004 and for the three and six months then
ended, reflect, in the opinion of management, all adjustments (which include only normal
recurring adjustments) necessary to fairly state the financial position and results of
operations for the three and six months. Operating results for interim periods are not
necessarily indicative of the results which can be expected for full years.



---

CANGLOBE
INTERNATIONAL, INC. (A Development Stage
Company)NOTES TO FINANCIAL
STATEMENTS

(Continued)

NOTE 2 
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Organization and Basis of
Presentation

The
Company was incorporated under the laws of the State of Nevada on April 7, 1997. The
Company ceased all operating activities during the period from April 7, 1997 to July 9,
1999 and was considered dormant. On July 9, 1999, the Company obtained a Certificate of
renewal from the State of Nevada. During 2000, the Company developed an Internet website
which provided community, content and commerce for the sportbike and motorcycle
enthusiast. During November 2001, the Company abandoned the internet business and since
December 2001, the Company is in the development stage, and has not commenced planned
principal operations. On March 19, 2002, the Companys name was changed from
eSportbike.com, Inc. to Red Butte Energy, Inc. On January 16, 2003, the Company changed
its name to Canglobe International, Inc.

Nature of Business

The
company has no products or services as of June 30, 2004. The Company has been pursuing
opportunities in the tire recycling and rubber reclamation industry, based upon licensed
technology available from its largest shareholder, Canglobe Development, Inc. Canglobe
Development has a patented process of devulcanizing rubber and reactivating the crumb
rubber resulting from the majority of tire shredding activities.

Cash and Cash Equivalents

For
purposes of the statement of cash flows, the Company considers all highly liquid debt
instruments purchased with a maturity of three months or less to be cash equivalents to
the extent the funds are not being held for investment purposes.

Pervasiveness of Estimates

The
preparation of financial statements in conformity with generally accepted accounting
principles required management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.



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CANGLOBE
INTERNATIONAL, INC. (A Development Stage
Company)NOTES TO FINANCIAL
STATEMENTS

(Continued)

NOTE 2 
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Loss per Share

Basic
loss per share has been computed by dividing the loss for the year applicable to the
common stockholders by the weighted average number of common shares outstanding during the
years. There were no common equivalent shares outstanding at June 30, 2004 and 2003.

Foreign Currency
Translation

The
Companys primary functional currency is the U.S. dollar. Monetary assets and
liabilities resulting from transactions with foreign suppliers and customers are
translated at year end exchange rates while income and expense accounts are translated at
average rates in effect during the year. Gains and losses on translations are included in
income.

Reclassifications

Certain
reclassifications have been made in the 2003 financial statements to conform with the 2004
presentation.

Advertising Expense

Advertising
costs are expensed when the services are provided.

Income Taxes

The
Company has a net operating loss for income taxes. Due to the regulatory limitations in
utilizing the loss, it is uncertain whether the Company will be able to realize a benefit
from these losses. Therefore, a deferred tax asset has not been recorded. There are no
significant tax differences requiring deferral.

Concentrations of Credit
Risk

The
Company has no significant off-balance-sheet concentrations of credit risk such as foreign
exchange contracts, options contracts or other foreign hedging arrangements.



---

CANGLOBE
INTERNATIONAL, INC. (A Development Stage
Company)NOTES TO FINANCIAL
STATEMENTS

(Continued)

NOTE 2 
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Depreciation

Fixed
assets are stated at cost. Depreciation and amortization is calculated on a straight-line
basis over the estimated useful lives of the assets as follows:

| | Asset                                           | Rate           
| | ----------------------------------------------- | ---------------
| | Computer equipment     
Furniture and equipment | 3 years
5 years

Maintenance
and repairs are charged to operations; betterments are capitalized. The cost of property
sold or otherwise disposed of and the accumulated depreciation thereon are eliminated from
the property and related accumulated depreciation accounts, and any resulting gain or loss
is credited or charged to income.

NOTE 3  COMMITMENTS

As
of June 30, 2004, all activities of the Company have been conducted by corporate officers
from either their homes or business offices. Currently, there are no outstanding debts
owed by the company for the use of these facilities and there are no commitments for
future use of the facilities.

NOTE 4  SHAREHOLDER
ADVANCES

Shareholders
of the Company have advanced the Company money in order to pay general and administrative
expenses. As of June 30, 2004 and December 31, 2003, the Company owed $6,020 and $2,537
respectively, relating to these notes.

NOTE 5  STOCK SPLIT

On
May 6, 1999, the Board of Directors authorized 1,000 to 1 stock split, changed the
authorized number of shares to 100,000,000 shares and the par value to $.001 for the
Companys common stock. As a result of the split, 999,000 shares were issued.

On
February 23, 2000, the Board of Directors authorized the acceptance of 800,000 shares of
restricted common stock returned to the Company by and on behalf of Mr. Daniel L. Hodges,



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CANGLOBE
INTERNATIONAL, INC.(A Development Stage
Company)NOTES TO FINANCIAL
STATEMENTS (Continued)

NOTE 5  STOCK SPLIT
(Continued)

formerly the sole Officer and
Director of the Company. The 800,000 shares were canceled immediately upon receipt. Also
on February 23, 2000 the Board of Directors authorized a 27 to 1 stock split. As a result
of this split the Company issued 5,200,000 shares of common stock.

On
March 19, 2002, the Board of Directors approved a 1 for 8 reverse stock split. All
references in the accompanying financial statements to the number of common shares and
per-share amounts have been restated to reflect the stock split and cancellation of
shares.

NOTE 6  COMMON
STOCK TRANSACTIONS

On
June 24, 2002, the Company issued 300,000 shares of common stock for $198,000 in
consulting services to be performed over a six month period.

On
October 31, 2003, the board of directors approved a debt to equity transaction, where
$280,228 in debt was converted into 700,570 shares of restricted common stock.



---

Item 2. Managements
Discussion and Analysis of Financial Condition and Results of Operations

The
following information should be read in conjunction with the information in Item 7,
Financial Statements, and other information regarding our financials performance for the
period covered by this report included elsewhere in this report. The following discussions
and other parts of this report may contain forward-looking statements that involve risks
and uncertainties. Our actual results may differ significantly from the results discussed
in those forward-looking statements. Factors that might cause such differences include,
but are not limited to, our history of unprofitability and the uncertainty of our
profitability, our ability to develop and introduce new services and products, the
uncertainty of market acceptance of those services or products, our potential reliance on
collaborative partners, our limited sales and marketing experience, the highly competitive
industries in which we operate and general economic and business conditions, some or all
of which may be beyond our ability to control.

Plan of Operations

The
Company was organized for the purpose of creating a corporate vehicle to seek, investigate
and, if such investigation warrants, acquire an interest in one or more business
opportunities presented to it by persons or firms who or which desire to seek perceived
advantages of a publicly held corporation.

The
Company may incur significant post-merger or acquisition registration costs in the event
management wishes to register a portion of their shares for subsequent sale. The Company
will also incur significant legal and accounting costs in connection with the acquisition
including the costs of preparing post- effective amendments, Forms 8-K, agreements and
related reports and documents.

The
Company will not have sufficient funds (unless it is able to raise funds in a private
placement) to undertake any significant development, marketing and manufacturing of the
products acquired. Accordingly, following the acquisition, the Company will, in all
likelihood, be required to either seek debt or equity financing or obtain funding from
third parties, in exchange for which the Company may be required to give up a substantial
portion of its interest in the acquired product. There is no assurance that the Company
will be able either to obtain additional financing or interest third parties in providing
funding for the further development, marketing and manufacturing of any products acquired.

On
March 19, 2002, the Board of Directors approved a 1 for 8 reverse stock split. As well on
the same date the Company changed its name to Red Butte Energy, Inc. On January 16,
2003, the Company changed its name to Canglobe International, Inc. And the direction the
Company is going. The Company will not proceed with the development of any software
business in Asia. Similarly the Company has decided not to operate any web based business
related to sportbikes or any other products. The Company will concentrate on opportunities
in the tire reclamation and rubber recycling industries.



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Results of Operations

From
April 7, 1997 to July 9, 1999 the Company was an inactive corporation. From July 9, 1999
the Company was a development stage company and had not begun principal operations.

For
the quarter ended June 30, 2004 compared to the same period in 2003 are not necessarily
indicative of the results that may be expected for the year ended December 31, 2004.

The
Company had no sales and sales revenues for the three and six months ended June 30, 2004
and 2003.

The
Company had no selling and marketing expenses for the three and six months ended June 30,
2004 and 2003. General and administrative expenses were $7,937 and $19,021 for the three
and six months ended June 30, 2004 and $22,999 and $30,690 for the three and six months
ended June 30, 2003.

The
Company recorded a net loss of $7,996 and $19,108 for the three and six months ended June
30, 2004 compared to a net loss of $22,999 and $30,690 for the same periods in 2003.

Liquidity and Capital
Resources

The
Company requires working capital principally to fund its current operations. There are no
formal commitments from banks or other lending sources for lines of credit or similar
short-term borrowings..

During
the next twelve months we believe that our current cash needs can be met by loans from our
director, officers and stockholders based on understandings we have with these
individuals. We may repay these loans and advancements on our behalf, or we may convert
them into common stock. We do not, however, have any commitments from any of these
individuals, in writing or otherwise, regarding any loans or advances.

The
Company expects future development and expansion will be financed through cash flow from
operations and other forms of financing such as the sale of additional equity and debt
securities, capital leases and other credit facilities. There are no assurances that such
financing will be available on terms acceptable or favorable to the Company.

Government Regulations

The
Company is subject to all pertinent Federal, State, and Local laws governing its business.
The Company is subject to licensing and regulation by a number of authorities in its
Province (State) or municipality. These may include health, safety, and fire regulations.
The Companys operations are also subject to Federal and State minimum wage laws
governing such matters as working conditions and overtime.



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# Item 3. Controls and
Procedures

The Companys President has
concluded, based on an evaluation conducted within 90 days prior to the filing date of
this Quarterly Report on Form 10-QSB, that the Companys disclosure controls and
procedures have functioned effectively so as to provide those officers the information
necessary whether:

|(i) | this Quarterly Report on Form 10-QSB contains any untrue statement of a
                    material fact or omits to state a material fact necessary to make the statements
                    made, in light of the circumstances under which such statements were made, not
                    misleading with respect to the period covered by this Quarterly Report on Form
                    10-QSB, and
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii) | the financial statements, and other financial information included in this
                    Quarterly Report on Form 10-QSB, fairly present in all material respects the
                    financial condition, results of operations and cash flows of the Company as of,
                    and for, the periods presented in this Quarterly Report on Form 10-QSB.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

There
have been no significant changes in the Companys internal controls or in other
factors since the date of the Presidents evaluation that could significantly affect
these internal controls, including any corrective actions with regards to significant
deficiencies and material weaknesses.

# PART II  OTHER
INFORMATION

# Item 1. Legal Proceedings

# None

# Item 2. Changes in
Securities

# None

# Item 3. Defaults Upon
Senior Securities

# None

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

# None

# Item 5. Other Information

# None

# Item 6. Exhibits and
Reports on Form 8-K



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(a)    
          The following exhibits are included as part of this report:

|Exhibit
Number                          | Title of Document                                                                                                                                                                                                                                                                                                                                                                                                                        
|--------------------------------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|2.1 
3.1 
3.2 
3.3 
31.1
31.2
32.1
32.2 | Change in Control Agreement dated January 15, 2001 (1)
Articles of Incorporation (2)
Amended Articles of Incorporation (2)
Bylaws (2)
Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

|(1) | Incorporated by reference to the Registrants quarterly report on Form
          10-QSB filed on May 21, 2001.
|--- | --------------------------------------------------------------------------------------------------------------

|(2) | Incorporated by reference to the Registrants registration statement on
          Form 10-SB filed on October 20, 1999.
|--- | -----------------------------------------------------------------------------------------------------------------------

(b)       
          Reports on Form 8-K filed.

No
reports on Form 8-K were filed during the prior quarter.



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# SIGNATURES

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

# Canglobe
International, Inc.

| |                     |                                                                                                                  
| | ------------------- | -----------------------------------------------------------------------------------------------------------------
| | Date: July 30, 2004 | By: /s/ Heinz Leuders        
Heinz Leuders
President and Director
(Principal Executive Officer)                 
| | Date: July 30,2004  | By: /s/ Charles Spooner          
Charles Spooner
Director, Treasurer and Secretary
(Principal Financial Officer)



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