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**U.S.      SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

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**Form      10-QSB**

| Nevada                                                                                                | 88-0106514                              |
|-------------------------------------------------------------------------------------------------------|-----------------------------------------|
|                                                                                                  |                                    |
| (State                or other jurisdiction Employer of                incorporation or organization) | (IRS                Identification No.) |

| 89120                     | (702)                436-7007              |
|---------------------------|--------------------------------------------|
|                      |                                       |
| (Zip                Code) | (Issuer's                Telephone Number) |

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**Check      whether the issuer**

**(1)      filed all reports required to be filed by Section13 or 15(d) of the Securities      Exchange Act of 1934 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      x No o.**

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

**The      number of shares outstanding of each of the registrant's classes of such common      equity, as of August 10, 2006, was 77,672,086 shares of Common Stock and      13,760,000 shares of Series B Preferred Stock.**

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**Table      of Contents**

| **PART                I**                                                                             | **3**  |
|-------------------------------------------------------------------------------------------------------|--------|
|                                                                                                  |   |
| **ITEM                1. FINANCIAL STATEMENTS.**                                                      | **3**  |
|                                                                                                  |   |
| **ITEM                2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF                OPERATIONS**  | **11** |
|                                                                                                  |   |
| **ITEM                3. CONTROLS AND                PROCEDURES**                                     | **15** |
|                                                                                                  |   |
| **PART                II. OTHER INFORMATION**                                                         | **15** |
|                                                                                                  |   |
| **ITEM                1. LEGAL PROCEEDINGS**                                                          | **15** |
|                                                                                                  |   |
| **ITEM                2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF                PROCEEDS** | **15** |
|                                                                                                  |   |
| **ITEM                3. DEFAULTS UPON SENIOR SECURITIES: -                NONE**                     | **15** |
|                                                                                                  |   |
| **ITEM                4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS: -                NONE** | **15** |
|                                                                                                  |   |
| **ITEM                5. OTHER INFORMATION -                NONE**                                    | **15** |
|                                                                                                  |   |
| **ITEM                6. EXHIBITS AND REPORTS ON FORM 8-K                -**                          | **15** |

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Table          of Contents

**PART      I**

*ITEM      1.FINANCIAL STATEMENTS.*

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Table          of Contents

**Global        Links Corp**

**(A        Development Stage Enterprise)**

**CONDENSED        CONSOLIDATED BALANCE SHEET**

**(Unaudited)**

|                                                                                                                                                               |   | As                    ofMarch                  31, 2006 |          |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|---------------|
|                  ASSETS                                                                                                                                       |   |                                                    |          |
| CURRENT                  ASSETS                                                                                                                                    |   |                                                    |          |
| Cash                                                                                                                                                               |   | $                                                       | 17,609        |   |
| Accounts                  receivable                                                                                                                               |   |                                                    | 5,078         |   |
| Prepaid                  expenses                                                                                                                                  |   |                                                    | 180           |   |
| Inventory                  asset                                                                                                                                   |   |                                                    | 4,316         |   |
| Deposits                                                                                                                                                           |   |                                                    | 27,187        |   |
| Note                  receivable                                                                                                                                   |   |                                                    | 150,000       |   |
| Total                  Current Assets                                                                                                                              |   |                                                    | 204,370       |   |
|                                                                                                                                                               |   |                                                    |          |   |
| PROPERTY                  AND EQUIPMENT                                                                                                                            |   |                                                    |          |   |
| Land                                                                                                                                                               |   |                                                    | 502,767       |   |
| Buildings                  (Net of depreciation of $84,069)                                                                                                        |   |                                                    | 1,246,430     |   |
| Furniture                  and equipment (Net of depreciation of $21,604)                                                                                          |   |                                                    | 45,842        |   |
| Total                  Property and Equipment                                                                                                                      |   |                                                    | 1,795,039     |   |
|                                                                                                                                                               |   |                                                    |          |   |
| OTHER                  ASSETS                                                                                                                                      |   |                                                    |          |   |
| Note                  receiveable                                                                                                                                  |   |                                                    | 1,000,000     |   |
| Deposit                  on land                                                                                                                                   |   |                                                    | 441,249       |   |
| Land                  held for development                                                                                                                         |   |                                                    | 3,371,648     |   |
| Total                  Other Assets                                                                                                                                |   |                                                    | 4,812,897     |   |
| **Total                  Assets**                                                                                                                                  |   | **$**                                                   | **6,812,306** |   |
|                                                                                                                                                               |   |                                                    |          |   |
| LIABILITIES                  AND STOCKHOLDER'S EQUITY                                                                                                              |   |                                                    |          |   |
| CURRENT                  LIABILITIES                                                                                                                               |   |                                                    |          |   |
| Accounts                  payable                                                                                                                                  |   | $                                                       | 100,973       |   |
| Property                  taxes payable                                                                                                                            |   |                                                    | 3,970,023     |   |
| Current                  portion of debtenture payable (net of discount $99,246)                                                                                   |   |                                                    | 275,067       |   |
| Accrued                  interest on loans and notes                                                                                                               |   |                                                    | 100,759       |   |
| Total                  Current Liabilities                                                                                                                         |   |                                                    | 4,446,822     |   |
|                                                                                                                                                               |   |                                                    |          |   |
| LONG                  TERM LIABILITIES                                                                                                                             |   |                                                    |          |   |
|                                                                                                                                                               |   |                                                    |          |   |
| Debenture                  payable- Sunset Building (net of discount $158,603)                                                                                     |   |                                                    | 1,088,743     |   |
| Debenture                  payable- Transix (net of discount $ 7,313)                                                                                              |   |                                                    | 17,687        |   |
| Line                  of credit - Majestic                                                                                                                         |   |                                                    | 10,000        |   |
| Rent                  deposits                                                                                                                                     |   |                                                    | 5,000         |   |
| Total                  Long Term Liabilities                                                                                                                       |   |                                                    | 1,121,430     |   |
| Commitments                  and contingencies                                                                                                                     |   |                                                    | 100,000       |   |
| Total                  Liabilities                                                                                                                                 |   |                                                    | 5,668,252     |   |
|                                                                                                                                                               |   |                                                    |          |   |
| STOCKHOLDERS'                  EQUITY                                                                                                                              |   |                                                    |          |   |
| Preferred                      Stock par value $0.001 (100,000,000 shares authorized, 13,760,000                      issued                      and outstanding) |   |                                                    | 13,760        |   |
| Common                      Stock par value $0.0001 (289,000,000 shares authorized, 22,938,362                      issued                      and outstanding)   |   |                                                    | 2,294         |   |
| Additional                  paid-in capital                                                                                                                        |   |                                                    | 5,999,462     |   |
| Stock                  subscriptions receivable                                                                                                                    |   |                                                    | (102,000      | ) |
| Accumulated                  deficit - accumulated during development stage                                                                                        |   |                                                    | (4,769,462    | ) |
| Total                  Stockholders' Equity                                                                                                                        |   |                                                    | 1,144,054     |   |
| **Total                  Liabilities and Stockholders' Equity**                                                                                                    |   | **$**                                                   | **6,812,306** |   |

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Table          of Contents

**GLOBAL      LINKS CORP. **

**(A      Development Stage Enterprise)**

**CONDENSED      CONSOLIDATED INCOME STATEMENT**

**(Unaudited)      **

|                                                                                                                                                                |   | Three                  months ended March 31, 2006 |        | Three                  months endedMarch                  31, 2005(Restated) |   |  Inception                  March 28, 2002 through March 31, 2006 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------|-------------|------------------------------------------------------------------------------|--------|------------------------------------------------------------------------|--------|
| REVENUES                                                                                                                                                            |   |                                               |        |                                                                         |   |                                                                   |   |
| Consulting                  fees                                                                                                                                    |   | $                                                  | -           |                                                                         | $      | -                                                                      |   | $ | 100,000 |   |
| Rental                  income                                                                                                                                      |   |                                               | 46,309      |                                                                         |   | 36,255                                                                 |   |   | 207,385 |   |
| Construction                  income                                                                                                                                |   |                                               | -           |                                                                         |   | -                                                                      |   |   | 17,300 |   |
| Sales                                                                                                                                                               |   |                                               | 1,341,923   |                                                                         |   | -                                                                      |   |   | 1,341,923 |   |
| R-E                  Info income                                                                                                                                    |   |                                               | -           |                                                                         |   | -                                                                      |   |   | 408 |   |
| Option                  income                                                                                                                                      |   |                                               | 151,000     |                                                                         |   | -                                                                      |   |   | 511,000 |   |
| Total                  Revenues                                                                                                                                     |   |                                               | 1,539,232   |                                                                         |   | 36,255                                                                 |   |   | 2,178,016 |   |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| COST                  OF GOODS SOLD                                                                                                                                 |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| Cost                  of goods sold                                                                                                                                 |   |                                               | 376,300     |                                                                         |   | -                                                                      |   |   | 516,314 |   |
| Gross                  Profit                                                                                                                                       |   |                                               | 1,162,932   |                                                                         |   | 36,255                                                                 |   |   | 1,661,702 |   |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| EXPENSES                                                                                                                                                            |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| General                  and Administrative                                                                                                                         |   |                                               | 35,596      |                                                                         |   | 42,703                                                                 |   |   | 841,700 |   |
| Consulting                  Fees                                                                                                                                    |   |                                               | 30,360      |                                                                         |   | 38,450                                                                 |   |   | 2,147,086 |   |
| Property                  tax expense                                                                                                                               |   |                                               | 125,440     |                                                                         |   | 5,000                                                                  |   |   | 482,010 |   |
| Officer                  and employee compensation                                                                                                                  |   |                                               | 72,743      |                                                                         |   | 68,142                                                                 |   |   | 2,321,292 |   |
| Professional                  fees                                                                                                                                  |   |                                               | 26,518      |                                                                         |   | 32,983                                                                 |   |   | 195,787 |   |
| Depreciation                  and amortization                                                                                                                      |   |                                               | 18,844      |                                                                         |   | 21,116                                                                 |   |   | 107,844 |   |
| Research                  & development                                                                                                                         |   |                                               | -           |                                                                         |   | -                                                                      |   |   | 125,000 |   |
| Maintenance                  expense                                                                                                                                |   |                                               | 3,903       |                                                                         |   | 2,847                                                                  |   |   | 40,091 |   |
| Total                  Expenses                                                                                                                                     |   |                                               | 313,404     |                                                                         |   | 211,241                                                                |   |   | 6,260,810 |   |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| OTHER                  INCOME/(EXPENSE)                                                                                                                             |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| Interest                  income                                                                                                                                    |   |                                               | 10          |                                                                         |   | 10                                                                     |   |   | 626 |   |
| Interest                  expense                                                                                                                                   |   |                                               | (58,599     | )                                                                            |   | (59,689                                                                | )      |   | (473,530 | ) |
| Loss                  on disposal of asset                                                                                                                          |   |                                               | (813        | )                                                                            |   | -                                                                      |   |   | (1,626 | ) |
| Loss                  on Judicial property seizure                                                                                                                  |   |                                               | -           |                                                                         |   | -                                                                      |   |   | (13,662 | ) |
| Total                  Other Expense                                                                                                                                |   |                                               | (59,402     | )                                                                            |   | (59,679                                                                | )      |   | (488,192 | ) |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| NET                  INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS                                                                                                   |   |                                               | 790,126     |                                                                         |   | (234,665                                                               | )      |   | (5,087,300 | ) |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| Discontinued                  operations, net                                                                                                                       |   |                                               | -           |                                                                         |   | -                                                                      |   |   | 317,837 |   |
| **Net                  Income (Loss)**                                                                                                                              |   | **$**                                              | **790,126** |                                                                         | **$**  | (234,665                                                               | )      | **$** | (4,769,463 | ) |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| Net                  income (loss) per common share, basic and diluted                                                                                              |   | $                                                  | 0.10        |                                                                         | $      | (0.09                                                                  | )      | $ | (304.41 | ) |
| Earnings                  (loss) per share before discontinued operations                                                                                           |   | $                                                  | 0.10        |                                                                         | $      | (0.09                                                                  | )      | $ | (324.69 | ) |
| Earnings                  per share of discontinued operations                                                                                                      |   | $                                                  | -           |                                                                         | $      | -                                                                      |   | $ | 20.29 |   |
|                                                                                                                                                                |   |                                               |        |                                                                         |   |                                                                   |   |   |   |   |
| Weighted                      Average number of common shares outstanding, basic and diluted                      adjusted                      for previous splits |   |                                               | 8,192,362   |                                                                         |   | 2,477,151                                                              |   |   | 15,668 |   |

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Table          of Contents

**GLOBAL        LINKS CORP**

**(A        Development Stage Enterprise)**

**CONDENSED        CONSOLIDATED STATEMENT OF CASH FLOWS**

**(Unaudited)**

|                                                                                                                   |   | Three                    Months EndedMarch                    31, 2006 |       | Three                    Months EndedMarch                    31, 2005 (Restated) |   | InceptionMarch                    28, 2002Thru                    March                    31, 2006 |   |
|------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------|------------|-----------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------|--------|
|                                                                                                                   |   |                                                                   |       |                                                                              |   |                                                                                                |   |
| OPERATING                    ACTIVITES                                                                                 |   |                                                                   |       |                                                                              |   |                                                                                                |   |
|                                                                                                                   |   |                                                                   |       |                                                                              |   |                                                                                                |   |
| Net                    income (loss)                                                                                   |   | $                                                                      | 790,127    |                                                                              | $      | (234,665                                                                                            | )      | $ | (4,769,462 | ) |
| Adjustments                    to reconcile net income (loss) to cash used in operating                    activities: |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
| Depreciation                    and amortization                                                                       |   |                                                                   | 18,844     |                                                                              |   | 21,116                                                                                              |   |   | 107,843 |   |
| Gain                    on sale of subsidiary                                                                          |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | (433,908 | ) |
| Loss                    on seizure of property                                                                         |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | 13,662 |   |
| Loss                    on the disposal of an asset                                                                    |   |                                                                   | 813        |                                                                              |   | -                                                                                                   |   |   | 1,626 |   |
| Consulting                    and legal fees paid via stock                                                            |   |                                                                   | 59,891     |                                                                              |   | 22,850                                                                                              |   |   | 1,328,344 |   |
| Officers                    compensation paid via stock                                                                |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | 1,483,200 |   |
| Employee                    stock incentive plan                                                                       |   |                                                                   | 26,154     |                                                                              |   | 16,657                                                                                              |   |   | 331,693 |   |
| Amortization                    of beneficial conversion feature                                                       |   |                                                                   | 28,145     |                                                                              |   | 26,478                                                                                              |   |   | 200,397 |   |
| Notes                    receivable for land                                                                           |   |                                                                   | (1,000,000 | )                                                                                 |   | -                                                                                                   |   |   | (1,000,000 | ) |
|                                                                                                                   |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
| Changes                    in operating assets and liabilities:                                                        |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
| Increase                    in notes receiveable                                                                       |   |                                                                   | (150,000   | )                                                                                 |   | -                                                                                                   |   |   | (150,000 | ) |
| Increase                    in inventory                                                                               |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | (4,316 | ) |
| Increase                    in accounts receiveable                                                                    |   |                                                                   | (140       | )                                                                                 |   | -                                                                                                   |   |   | (5,078 | ) |
| Increase                    in deposits                                                                                |   |                                                                   | -          |                                                                              |   | (9,335                                                                                              | )      |   | (27,187 | ) |
| Decrease                    (increase) in prepaid expenses                                                             |   |                                                                   | 3,525      |                                                                              |   | 243                                                                                                 |   |   | (180 | ) |
| (Decrease)                    increase in accounts payable                                                             |   |                                                                   | (106,187   | )                                                                                 |   | 14,439                                                                                              |   |   | 100,973 |   |
| Increase                    in rent deposits                                                                           |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | 5,000 |   |
| Increase                    in accrued liabilities                                                                     |   |                                                                   | 19,072     |                                                                              |   | 10,733                                                                                              |   |   | 493,759 |   |
| Decrease                    in liabilities of subsidiary sold                                                          |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | 135,789 |   |
| (Decrease)                    increase in property taxes payable                                                       |   |                                                                   | (216,483   | )                                                                                 |   | -                                                                                                   |   |   | 115,413 |   |
| Increase                    in commitments and contingences                                                            |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | 100,000 |   |
| Decrease                    in liabilities of discontinued operations                                                  |   |                                                                   |       |                                                                              |   |                                                                                                |   |   | 263,119 |   |
|                                                                                                                   |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
| Net                    cash used in operating activities                                                               |   |                                                                   | (526,239   | )                                                                                 |   | (131,484                                                                                            | )      |   | (1,709,313 | ) |
|                                                                                                                   |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
| INVESTMENT                    ACTIVITIES                                                                               |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
|                                                                                                                   |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
| Cash                    paid for property plant and equipment                                                          |   |                                                                   | (7,907     | )                                                                                 |   | (21,477                                                                                             | )      |   | (949,413 | ) |
| Proceeds                    from sale of subsidiary                                                                    |   |                                                                   | -          |                                                                              |   | -                                                                                                   |   |   | 35,000 |   |
| Cash                    paid for land expansion                                                                        |   |                                                                   | (20,000    | )                                                                                 |   | -                                                                                                   |   |   | (107,937 | ) |
| Decrease                    in land held for development                                                               |   |                                                                   | 376,300    |                                                                              |   | -                                                                                                   |   |   | 376,300 |   |
|                                                                                                                   |   |                                                                   |       |                                                                              |   |                                                                                                |   |   |   |   |
| Net                    cash provided by (used) in investment activities                                                |   |                                                                   | 348,393    |                                                                              |   | (21,477                                                                                             | )      |   | (646,050 | ) |

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Table          of Contents

**GLOBAL        LINKS CORP**

**(A        Development Stage Enterprise)**

**CONDENSED        CONSOLIDATED STATEMENT OF CASH FLOWS**

**(Unaudited)**

|                                                             |   | Three                  Months Ended   |       | Three                  Months EndedMarch                  31, 2005 |   | InceptionMarch                  28, 2002Thru |   |
|------------------------------------------------------------------|--------|---------------------------------------|------------|--------------------------------------------------------------------|--------|----------------------------------------------|--------|
|                                                             |   |  March                  31, 2006 |       | (Restated)                                                         |   | March                  31, 2006              |   |
| FINANCING                  ACTIVITIES                            |   |                                  |       |                                                               |   |                                         |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |
| Cash                  proceeds from debt                         |   |                                  | -          |                                                               |   | 41,000                                       |   |   | 205,000 |   |
| Cash                  proceeds from line of credit               |   |                                  | 10,000     |                                                               |   | -                                            |   |   | 10,000 |   |
| Cash                  paid to reduce debt                        |   |                                  | (935       | )                                                                  |   | (3,699                                       | )      |   | (38,343 | ) |
| Release                  of common stock receiveable             |   |                                  | 482        |                                                               |   | -                                            |   |   | 22,983 |   |
| Issuance                  of common stock receiveable            |   |                                  | (102,000   | )                                                                  |   | -                                            |   |   | (102,482 | ) |
| Cash                  proceeds for sale of common stock          |   |                                  | 224,750    |                                                               |   | 140,945                                      |   |   | 2,275,814 |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| Net                  cash provided by financing activities       |   |                                  | 132,297    |                                                               |   | 178,246                                      |   |   | 2,372,972 |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| (Decrease)                  increase in cash                     |   |                                  | (45,549    | )                                                                  |   | 25,285                                       |   |   | 17,609 |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| Cash                  at Beginning of Period                     |   |                                  | 63,158     |                                                               |   | 4,339                                        |   |   | - |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| **Cash                  at End of Period**                       |   | **$**                                 | **17,609** |                                                               | **$**  | **29,624**                                   |   | **$** | **17,609** |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| SUPPLEMENTAL                  DISCLOSURES                        |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| Cash                  payment for interest                       |   | $                                     | 10,356     |                                                               | $      | 27,477                                       |   | $ | 148,550 |   |
| Cash                  payment for income taxes                   |   | $                                     | -          |                                                               | $      | -                                            |   | $ | - |   |
|                                                             |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| Non                  cash investing and financing activities     |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| Beneficial                  conversion feature                   |   | $                                     | -          |                                                               | $      | -                                            |   | $ | 465,558 |   |
| Shares                  Issued for the conversion of debt        |   | $                                     | -          |                                                               | $      | -                                            |   | $ | 18,987 |   |
| Shares                  issued for the merger with Capitol Group |   |                                  |       |                                                               |   |                                         |   |   |   |   |
| Note                  for Sunset building                        |   | $                                     | -          |                                                               | $      | -                                            |   | $ | 1,280,000 |   |
| Reverse                  split on common stock                   |   | $                                     | -          |                                                               | $      | -                                            |   | $ | 22,468 |   |
| Property                  tax payable released in tax seizure    |   | $                                     | -          |                                                               | $      | -                                            |   | $ | 1,390 |   |
| Conversion                  of preferred stock to common stock   |   | $                                     | 1,240      |                                                               | $      | -                                            |   | $ | 1,240 |   |

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Table            of Contents

**GLOBAL      LINKS CORP.**

**(A      Development Stage Enterprise)**

**NOTES      TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**March      31, 2006**

**Note      1 - Basis of Presentation**

*Loss      Per Share *

*Revenue      Recognition*

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Table          of Contents

**Note      1 - Basis of Presentation (CONTINUED)**

*Share-Based      Payment*

**Note      2 - Notes Receivable**

**Note      3 - Land Held for Development**

**Note      4 -**
**      Debt**

**Note      5 - Common Stock**

| Three                  months ended March                  31,                  2006 |   | Number                  of shares |      | Share                  Dollars |   | Bonus                  portion |               | Shares                  at the beginning of                  period |   | Shares                  at the end of period |   |
|--------------------------------------------------------------------------------------|--------|-----------------------------------|-----------|--------------------------------|--------|--------------------------------|--------------------|---------------------------------------------------------------------|--------|----------------------------------------------|--------|
|                                                                                 |   |                              |      |                           |   |                           |               |                                                                |   |                                         |   |
| S-8                  Reg. Employee                                                   |   |                              | 4,550,000 |            | $      | 224,750                        |     | $                                                                   | 29,272 |                          |   | 383,280,000 |      |    | 378,730,000 |   |
|                                                                                 |   |                              |      |                           |   |                           |               |                                                                |   |                                         |   |   |   |   |   |   |
| S-8                  Reg. Non-Employee                                               |   |                              | 1,310,000 |                           | $      | 59,891                         |               |                                                                | -      |                                         |   | 82,200,000 |   |   | 80,290,000 |   |

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Table            of Contents

**Note      6 - Income taxes**

**Note      7 - Commitments and Contingencies**

**Note      8 - Subsequent Events**

|                                                                      |   | Common                    stock |       | Preferred                    stock series B |   |
|---------------------------------------------------------------------------|--------|---------------------------------|------------|---------------------------------------------|--------|
| Shares                    at March 31, 2006 before split                  |   |                            | 22,938,362 |                                        |   | 13,760,000 |   |
|                                                                      |   |                            |       |                                        |   |   |   |
| Total                    number of shares after 3-for-1 forward split     |   |                            | 68,815,086 |                                        |   | - |   |
| Shares                    issued after April 7, 2006                      |   |                            | 6,000,000  |                                        |   | - |   |
| Shares                    issued for payment of Debtenure (June 22, 2006) |   |                            | 2,857,000  |                                        |   | - |   |
| Total                    shares outstanding                               |   |                            | 77,672,086 |                                        |   | 13,760,000 |   |

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Table          of Contents

| *ITEM                  2.* | *MANAGEMENT'S                  DISCUSSION AND ANALYSIS OR PLAN OF                  OPERATIONS* |
|----------------------------|------------------------------------------------------------------------------------------------|

*“Our        vision is to change the global housing market and provide affordable housing        through the partnerships of quality home builders. We fulfill this vision        by        providing free real estate information of property to the general public        and by        providing innovative and affordable solutions to senior citizens through        projects such as “Valle Vista”-a development where all seniors can call home”...the Management. *

*Concentrations*

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| *Item                  2* | *MANAGEMENTS                  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS                  (CONTINUED)* |
|---------------------------|--------------------------------------------------------------------------------------------------------------------------------------|

*Revenue        Recognition*

*Share-Based        Payment*

|                                           |   | March                    31, 2006 |      | March                    31, 2005 |   | Difference |   | Percent |      |
|------------------------------------------------|--------|-----------------------------------|-----------|-----------------------------------|--------|------------|--------|---------|-----------|
| Net                    revenues                |   | $                                 | 1,539,232 |                              | $      | 36,255     |   | $       | 1,502,977 |   |   | 4146 | % |
| Cost                    of goods sold          |   |                              | 376,300   |                              |   | -          |   |    | 376,300   |   |   | 100 | % |
| Gross                    profit                |   |                              | 1,162,932 |                              |   | 36,255     |   |    | 1,126,677 |   |   | 3108 | % |
| Operating                    expense (*)       |   |                              | 372,806   |                              |   | 270,920    |   |    | 101,886   |   |   | 38 | % |
| Net                    operating income (loss) |   | $                                 | 790,126   |                              | $      | (234,665   | )      | $       | 1,024,791 |   |   | -437 | % |

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Table            of Contents

| *Item                    2* | *MANAGEMENTS                    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF                    OPERATIONS                    (CONTINUED)* |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| *Item                    2* | *MANAGEMENTS                    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF                    OPERATIONS                    (CONTINUED)* |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                     |   | March                      31, 2006 |      | December                      31, 2005 |   | Difference |   | Percent |     |
|------------------------------------------|--------|-------------------------------------|-----------|----------------------------------------|--------|------------|--------|---------|----------|
| Cash                                     |   | $                                   | 17,609    |                                   | $      | 63,158     |   | $       | (45,549  | ) |   | -72 | % |
| Current                      liabilities |   | $                                   | 4,446,822 |                                   | $      | 4,745,091  |   | $       | (298,269 | ) |   | -6 | % |
| Current                      receivables |   | $                                   | 5,078     |                                   | $      | 4,938      |   | $       | 140      |   |   | 3 | % |
| Note                      receivable     |   | $                                   | 150,000   |                                   | $      | -          |   | $       | 150,000  |   |   | 100 | % |

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Table              of Contents

*Forward          Looking Statements*

| *ITEM                    3.* | *CONTROLS                    AND PROCEDURES* |
|------------------------------|----------------------------------------------|

*Evaluation          of disclosure controls and procedures.*

*Changes          in internal controls.*

**PART          II. OTHER INFORMATION**

| *ITEM                    1.* | *LEGAL                    PROCEEDINGS* |
|------------------------------|----------------------------------------|

| *ITEM                    2.* | *UNREGISTERED                    SALES OF EQUITY SECURITIES AND USE OF                    PROCEEDS* |
|------------------------------|-----------------------------------------------------------------------------------------------------|

| *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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