UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                 Form 10-KSB/A
                                Amendment No. 1

(Mark one)
[X] Annual Report under Section 13 or 15(d) of the Securities
    Exchange Act of 1934
                                  For the fiscal year ended December 31, 2005.

[ ] Transition Report under Section 13 or 15(d) of the Securities
    Exchange Act of 1934
                           For the transition period from ________ to ________

                       Commission File Number 000-50045

                             EMPIRE GLOBAL CORP.
                ----------------------------------------------
                (Name of small business issuer in its charter)

            Delaware                                          33-0823179
-------------------------------                         ----------------------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                          Identification Number)


501 Alliance Avenue, Suite 400, Toronto, Ontario                 M6N 2J1
------------------------------------------------               ------------
    (Address of principal executive offices)                    (Zip Code)


                                (416) 769-8788
                        -------------------------------
                        (Registrant's telephone number)


Securities registered pursuant to Section 12(b) of the Act:  None.

Securities registered pursuant to Section 12(g) of the Act:
Common Stock (par value $0.0001)

Check whether the issuer is not required to file reports pursuant to Section 13
or 15(d) of the Exchange Act.                                               [ ]

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

     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form
10-KSB or any amendment to this Form 10-KSB.                                [X]

     Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the exchange Act).                      Yes [ ] No [X]

The issuer had $636,167 in revenues for its most recent fiscal year. The number
of shares outstanding of each of the issuer's classes of common equity, as of
the close on March 10, 2006 is 6,985,867 shares with an aggregate market value
of $4,191,520 based on the average closing bid and asked prices for the Common
Stock on March 31, 2006 of $0.60 per share.

                                      1
<PAGE>

                                TABLE OF CONTENTS

PART I
-------
ITEM 1.   DESCRIPTION OF BUSINESS..........................................  3
ITEM 2.   DESCRIPTION OF PROPERTY.......................................... 13
ITEM 3.   LEGAL PROCEEDINGS................................................ 22
ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.............. 23

PART II
-------
PART 5.   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS......... 24
ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS............................. 29
ITEM 7.   FINANCIAL STATEMENTS............................................. 34
                          (Financial Statements - pages numbered as F1 to F17)
ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
          AND FINANCIAL DISCLOSURE......................................... 52
ITEM 8A.  CONTROLS AND PROCEDURES.......................................... 52
ITEM 8B.  OTHER INFORMATION................................................ 53

PART III
--------
ITEM 9.   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS..... 54
ITEM 10.  EXECUTIVE COMPENSATION........................................... 58
ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
          AND RELATED STOCKHOLDER MATTERS.................................. 59
ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS................... 60
ITEM 13.  EXHIBITS......................................................... 61
ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES........................... 64

SIGNATURES................................................................. 65
EXHIBIT INDEX.............................................................. 66



List of Changes in this Amendment No. 1
---------------------------------------
Page 10 - "RISK FACTORS", paragraph 3.  Changed $851,651 to $851,656.
Page 15 - "Investments in Real Estate Mortgages."  Reformatted heading.
Page 17 and 19 - "Number of Tenants occupying 10% of rentable space."
Reformatted heading.
Page 22 and 23 - "Pending Legal Matters."  Changed "RCC" to "Research". Also
capitalized "Company"
Page 29 - "REVENUES".  Reworded first sentence.  "EXPENSES". Changed 2005
figure from $1,202,896 to $1,202,907 and subsequently the amount of increase
to $388,725.
Page 30 - "LIABILITIES".  Reworded the first sentence to increase clarity.
Page 34 and F1 to F17 - "Consolidated Financial Statements".  Fixed several
spelling and other non-material errors to increase clarity.  NO FIGURES WERE
CHANGED.

*** This Form 10-KSB/A (Amendment No. 1) filed herewith is complete and
replaces the previously filed Consolidated Financial Statements. ***


                                      2
<PAGE>

PART I.
-------

FORWARD-LOOKING STATEMENTS

The matters discussed in this Annual Report on Form 10-KSB contain
forward-looking statements that involve risks and uncertainties, including
primarily our ability to fund future operations and investment opportunities
until such time that our cash flows from operations are sufficient for these
purposes., changing market conditions and the other risks and uncertainties
described under "Risk Factors" and throughout this Annual Report on Form
10-KSB.  Actual results may differ materially from those projected.  These
forward-looking statements represent our judgment as of the date of the filing
of this Annual Report on Form 10-KSB.  We disclaim any intent or obligation to
update these forward-looking statements.


ITEM 1. DESCRIPTION OF BUSINESS
-------------------------------

BUSINESS DEVELOPMENT
The issuer, Empire Global Corp. ("the Company", "Empire") formerly named
Tradestream Global Corp ("Tradestream") and formerly Vianet Technology Group,
Ltd ("Vianet") was organized as Pender International, Inc. ("Pender") under the
laws of the state of Delaware on August 26, 1998.  In 2002, a business plan was
developed to import high-end furniture from Mexico for sale in the United
States and Canada.  This business was unsuccessful and abandoned in July 2004.

In July 2004, the Company entered business as a merchant bank.  The Company set
objectives to acquire undervalued small-to-medium size advanced stage companies
that require strong management and capital to bring their operations to
profitability.  The Company began a program to delineate acquisition targets in
mid-2004 with a plan to build a broadly diversified portfolio of core holdings
that foster and maintain long-term shareholder value.

On July 9, 2004, the Company acquired 100% of the stock of IMM Investments
Inc., an Ontario corporation ("IMM"), thus making IMM a wholly owned subsidiary
of Empire.

On February 16, 2005, the Company acquired 100% of the stock of Montebello
Developments Corp., an Ontario corporation ("Montebello"), thus making
Montebello a wholly owned subsidiary of Empire. Montebello Developments Corp.
was acquired to diversify the Company's portfolio and will focus on property
and land development.

In June 2005, Management developed a business strategy to acquire technology
based companies and to streamline the business of the Company by divesting
itself of holdings that did not fit the description of technology based
companies within the revised business strategy. The Company determined that its
holdings in IMM and Montebello were unproductive and had only a tertiary chance
at best of becoming a profitable venture. Management concluded that the
investments were not suitable within the strategy, therefore, on June 17, 2005,
the Company entered into an Agreement of Purchase and Sale of Stock to divest
its holdings of IMM to Blazing Holdings Inc. an Ontario Corporation, pursuant
to which it sold all of the issued and outstanding capital stock of IMM
Investments, Inc., its wholly-owned subsidiary, to Blazing Holdings, Inc. for
$3,000,000 paid by delivery of a secured promissory note having a maturity
date of June 30, 2010 (the "IMM Agreement"). On the same day, the Company
entered into an Agreement of Purchase and Sale of Stock with Brookstreet
Capital Corp. a Delaware Corporation pursuant to which it sold all of the
issued and outstanding capital stock of Montebello Developments Corp., its
wholly-owned subsidiary, to Brookstreet Capital Corp. for $250,000 paid by
delivery of a secured promissory note having a maturity date of June 30, 2010
(the "Montebello Agreement")

                                      3
<PAGE>

On June, 17, 2005, stockholders of the Company holding a majority of the issued
and outstanding shares of the Company's common stock approved these actions by
majority written consent. During the same meeting stockholders of the Company
holding a majority of the issued and outstanding shares of the Company's common
stock approved the action of Management to change its' name to Vianet
Technology Group, Ltd. and to give effect to a 1-for-10 reverse stock split of
the common stock of the Company by majority written consent. The Company
intends to file an Information Statement with the Securities and Exchange
Commission describing these transactions and, once approved, deliver this
Information Statement to its stockholders who did not deliver a written consent
to these actions.

On June 29, 2005, the Company amended its Certificate of Incorporation to
change its name to Vianet Technology Group, Ltd. and on June 30, 2005 completed
a 1-for-10 reverse stock split of its common stock.  As a result of this
action, the holder of each share of the Company's common stock then owned
one-tenth of one share of common stock after which there were a total of
5,958,672 issued and outstanding shares of common stock of the Company. On July
1, 2005 and in conjunction with the change of the Company's name, the symbol
under which the Company's common stock is eligible for quotation on the
Over-The-Counter-Bulletin Board was changed to "VTGL".

On July 7, 2005, the Company reached a preliminary agreement with VIANET
Direct, Inc., a registered broker dealer with the National Association of
Securities Dealers, Inc. ("NASD") whose products provide a real time, virtual,
interactive, anonymous block trading system for all types of equity securities
("VIANET Direct"), pursuant to which the parties anticipated that a newly
formed wholly-owned subsidiary of the Company would merge with and into VIANET
Direct, with VIANET Direct remaining as the surviving corporation.

The consummation of the merger was subject to standard closing conditions
including the execution of a definitive merger agreement approved by the board
of directors and the stockholders of each corporation; receipt of all permits,
authorizations, regulatory approvals and third party consents (including, but
not limited to, NASD approval of the transaction) necessary for the
consummation of the merger; satisfaction of all applicable legal requirements,
including compliance with all applicable federal and state securities laws;
resignation of all of the Company's officers and directors current at that
time, and who were to be replaced by officers and directors selected by VIANET
Direct; and that the merger was to qualify as a tax-free transaction to each of
the Company, VIANET Direct and VIANET Directs' stockholders.

In addition, the Company agreed that, as of the closing date of the merger, it
would not have any debts or liabilities, contingent or otherwise; would have
no more than 5,960,000 issued and outstanding shares of common stock; and would
have valid collectible accounts receivable, notes receivable or cash of at
least $3.25 million. Accordingly, there was no assurance that the parties would
be able to consummate the merger.

Since the Company and Vianet Direct, Inc. were not able to agree upon the
definitive terms and conditions of the merger or the due diligence procedures,
the Board of Directors and the Management of the Company determined that the
terms of the agreement were not in the best interests of its' shareholders and
subsequently abandoned the transaction.

On July 21, 2005, stockholders of the Company holding a majority of the issued
and outstanding shares of the Company's common stock approved the action of
Management to change its' name to Tradestream Global Corp. by majority written
consent. The Company intends to file an Information Statement with the
Securities and Exchange Commission describing these transactions and, once
approved, deliver this Information Statement to its stockholders who did not
deliver a written consent to these actions.

                                      4
<PAGE>

As a result of these actions, the Company amended its Certificate of
Incorporation to change its name to Tradestream Global Corp. effective on July
22, 2005, and in conjunction with the change of the Company's name, the symbol
under which the Company's common stock is eligible for quotation on the
Over-The-Counter-Bulletin Board was changed to "TGLC".

At a Special Meeting held on July 22, 2005, shareholders voted by written
consent to formally approve the decision by the Management of the Company to
terminate the merger negotiations with Vianet Direct, Inc., and proceeded with
negotiations with other prospective merger or acquisition candidates.

On July 27, 2005 the Company reached a preliminary agreement to acquire
Tradestream Global AG, a technology software provider to the investment
community. The transaction had been subject to execution of a definitive share
exchange agreement, approval of the respective Boards of Directors, and the
shareholders of the Company. The Management of the Company determined that the
terms of the agreement and the unlikelihood of profitability were not in the
best interests of its' shareholders and subsequently the parties reached an
agreement to terminate the transaction.

At a Special Meeting held on August 15, 2005, shareholders voted by written
consent to formally approve the decision by the Management of the Company to
terminate the merger negotiations with Tradestream Global AG, and proceeded
with negotiations with other prospective merger or acquisition candidates.
This conclusion was formalized in a mutual Notice of Termination on August 29,
2005. The termination agreement provided that each party terminate and release
the other from any liability and the performance of obligations, covenants,
requirements and payments arising from and pursuant to, the previously executed
Confidential Letter of Intent Agreement.

In August 2005, the Company developed a business plan to streamline the
business of the Company becoming a holding company to acquire companies that
own and operate income producing real estate and commercial properties giving
particular attention and focus to the strong economic conditions that exist in
the Peoples Republic of China ("China") and taking into consideration the
considerable expertise of the Company's Management in China.

On September 15, 2005, stockholders of the Company holding a majority of the
issued and outstanding shares of the Company's common stock approved the action
of Management to change its' name to Empire Global Corp. and give effect to a
1-for-10 reverse stock split by majority written consent. The Company intends
to file an Information Statement with the Securities and Exchange Commission
describing these transactions and, once approved, deliver this Information
Statement to its stockholders who did not deliver a written consent to these
actions.

The Company amended its Certificate of Incorporation to change its name to
Empire Global Corp. effective September 21, 2005, and subsequently amended its
Certificate of Incorporation to give effect to a 1-for-10 reverse stock split
of its common stock effective September 29, 2005.  As a result of this action,
the holder of each share of the Company's common stock then owned one-tenth of
one share of common stock after which the Company then had a total of 745,867
issued and outstanding shares of common stock.

On September 29, 2005, the Company received written notice that Brookstreet
Capital Corp. would not be able to make the first interest payment on its
promissory note due on September 30, 2005. The Montebello Agreement contained
clauses where delivery of such notice was deemed an "Event of Default". Upon
receipt of the above notice, the Board of Directors of the Company, at a
Special Meeting held on September 29, 2005, formally approved the decision by
Management of the Company to terminate the Montebello Agreement with
Brookstreet Capital Corp. At the same Special Meeting held on September 29,
2005, the Board of Directors of the Company formally approved the decision by

                                      5
<PAGE>

Management of the Company to amend the Promissory Note of the IMM Agreement
whereby Blazing Holding Inc. will be allowed to accrue its interest due to the
Company until the maturity date of its Note Payable on June 17, 2010.  Also, it
was agreed that the interest rate charged shall be the fixed at the prime rate
charged at 8:00 a.m. EST on June 17, 2005 by Citibank, N.A. at its principal
office (the "IMM Amendment")

As a result of the decisions rendered at the Special Meeting held on September
29, 2005, the Company disposed of the $250,000 Promissory Note from Brookstreet
Capital Corp. and re-acquired 100% of the issued and outstanding shares of
Montebello Developments Corp. Thus, the Company delivered a Notice of
Termination where the Company notified Brookstreet Capital Corp that it had
opted to exercise its right to reacquire and become the owner of 100 shares of
(100% of the issued and outstanding) stock of Montebello Developments Corp.
(pledged security for the loan) (the "Montebello Shares") and terminate the
Montebello Agreement.  Upon the delivery of the Montebello Shares to the
Company, the Company terminated and cancelled the Montebello Agreement and
Montebello Developments Corp. became a wholly owned subsidiary of the Company.

On September 7, 2005, the Company organized and acquired 100% of the stock of
Empire Global Acquisition Corp., an Ontario corporation ("EGAC"), and thus made
EGAC a wholly owned subsidiary of Empire. EGAC was acquired to diversify
Empire's portfolio of real estate in regions outside of the scope of Montebello
and to compliment its' focus on property and land development.

On September 30, 2005 and in conjunction with the change of the Company's name,
the symbol under which the Company's common stock is eligible for quotation on
the Over-The-Counter-Bulletin Board was changed to "EMGL".

On October 12, 2005, the Company completed the private placement of 814,100
shares of its common stock.  The Company agreed to issue a total of 814,100
shares of common stock with a total value of $472,178 to a group of accredited
investors in exchange for the cancellation of debt owed by the Company
respectively to each investor. Each share to be issued in the above said
private placement is accompanied by a warrant to acquire up to two additional
shares of the Company's common stock with an exercise price of one dollar
($1.00) per share, exercisable up to October 12, 2007.

The shares and warrants issued in the private placement are exempt from the
registration requirements of the Securities Act of 1933 (the "Act") pursuant
to Section 4(2) of the Act and Rule 506 promulgated thereunder.  Each investor
is an "accredited investor" under the Act, and no form of general solicitation
or general advertising was conducted in connection of the private placement.
Each of the certificates representing shares and warrants of the Company's
common stock issued in the private placement contain restrictive legends
preventing the sale, transfer or other disposition of such shares, unless
registered under the Securities Act.

On October 27, 2005, the Company entered into a Plan of Merger and
Reorganization with 501 Canada Inc. ("501") (the "501 Plan"), an Ontario
corporation, to acquire a 100% interest in 501 Canada Inc. Pursuant to the 501
Plan the Company, through its wholly-owned subsidiary EGAC would merge with
501, with EGAC as the surviving entity. On the same day the Company completed
the acquisition of 501 Canada Inc. thus making 501 a wholly owned subsidiary of
EGAC. As a result of the merger, the former shareholder of 501 received
exchangeable shares of EGAC, which were exchangeable for 6,240,000 shares of
common stock of the Company. 501 owns' and operates two revenue-producing
commercial real estate properties in Toronto, Canada.  The first property,
located at 501 Alliance Avenue, is 3.81 acres in size with 318,703 sq. ft. of
office space; and the second property, located at 3025 Kennedy Road, has
27,700 sq. ft. of office space.

                                      6
<PAGE>

On October 31, 2005, stockholders of the Company holding a majority of the
issued and outstanding shares of the Company's common stock approved these
actions by majority written consent. The Company intends to file an Information
Statement with the Securities and Exchange Commission describing these
transactions and, once approved, deliver this Information Statement to its
stockholders who did not deliver a written consent to these actions.

On November 4, 2005, the Company entered into a Plan of Merger and
Reorganization with Excel Empire Limited ("Excel") (the "Excel Plan"), a
British Virgin Islands corporation, to acquire a 100% interest in Excel.
Pursuant to the Excel Plan, Excel has agreed to merge into the Company. On
completion, the shareholders of Excel will be issued a total of 36,400,000
restricted shares of Company common stock in exchange for 100% of the issued
and outstanding stock of Excel.

Excel owns and operates a commercial complex in Jiaozuo City in Henan Province
of China. Construction of two structures began in 2003 on a 31 acre site; a 6
storey shopping plaza (the "Plaza") with over 600,000 square ft of retail space
and a 25 storey 5-star rated hotel (the "Hotel"). The Plaza opened in November
2004 while, the Hotel construction is approximately 90% complete and is
scheduled to open in mid 2006. During 2004, Excel leased approximately 85% of
available retail floor space in the Plaza. Among other key brands and
nationally recognized retailers in China, anchor tenants such as McDonalds,
Kentucky Fried Chicken, Hugo Boss as well as cosmetics chains such as L'Oreal
and Revlon are the main draw to the complex. The Hotel will be managed under a
ten year management agreement by Days Hotel and Suites. In addition to the
commercial complex, the Company through its' subsidiary Excel will also acquire
an option on a 150 acre parcel of land within 10 kilometers from the complex.
The Company intends to evaluate the investment potential of the property by
engaging a consulting firm to conduct a feasibility study among other typical
research and development studies to examine the viability of developing the
project.

On November 7, 2005, stockholders of the Company holding a majority of the
issued and outstanding shares of the Company's common stock approved the action
of management to enter into the Excel Plan by majority written consent. Upon
completion of the auditing requirements, the Company intends to file an amended
8-K exhibiting the required financial statements, file a certificate of merger
with the Secretary of State of the State of Delaware and file an Information
Statement with the Securities and Exchange Commission describing these
transactions and, once approved, deliver this Information Statement to its
stockholders who did not deliver a written consent to these actions.

On November 17, 2005, holders of the exchangeable shares of EGAC acquired in
the merger between EGAC and 501 elected to exercise their rights to exchange
the EGAC shares for shares of the Company. As a result, the Company issued a
total of 6,240,000 shares of common stock with an effective date of November
17, 2005 to the shareholders of the EGAC shares in exchange for the
exchangeable shares of EGAC returned for cancellation. Each new share of the
Company issued in the above said exchange are exempt from the registration
requirements of the Securities Act of 1933 (the "Act") pursuant to Section 4(2)
of the Act and Rule 506 promulgated thereunder. Each of the certificates
representing shares of the Company's common stock issued in the exchange
contain restrictive legends preventing the sale, transfer or other disposition
of such shares, unless registered under the Securities Act.

BUSINESS OF ISSUER
PRINCIPAL PRODUCTS OR SERVICES AND THEIR MARKETS
Empire Global Corp. (together with its subsidiaries, the "Company") is a
diversified holding company engaged in the acquisition and operation of income
producing real estate properties that have a good prospect for growth. The
Company specializes in the investment, development and operation of income
producing properties that service commercial business tenants and Hotel,
Tourism and Leisure Travel business operators internationally.

                                      7
<PAGE>

The Company's goal is to create, through acquisition, disposition, development
and asset management, a dominant ownership position in certain primary markets
in North America and China. As of December 31, 2005, the Company owned
interests in a portfolio of 2 properties in Toronto and subsequent to the
period covered by this report will acquire 2 additional properties in China
(the "Properties") which covers approximately 1.3 million square feet of
commercial floor space in the aggregate. Our portfolio is comprised of two
commercial/industrial properties in Toronto, Ontario, and will subsequently
include a commercial shopping plaza and hotel complex as well as 150 acres of
undeveloped land. Our primary business strategy is to continue to grow and
enhance the value of our businesses. In addition, we will invest our available
cash liquidity in debt and equity securities of other companies with a view
towards enhancing returns as we continue to assess further acquisitions of
operating businesses.

The Company currently operates in one major market: Ontario, Canada and upon
completion of the Excel Plan will also operate in a second major tourist
market: Henan Province, China. The Company's investment focus will be on
expanding in its primary markets as well as on new markets in: Beijing,
Chongqing, and Guangzhou in China as well as Huatulco, Mexico. The Company
believes it can create significant shareholder value in the primary markets
where it will have established a significant ownership presence by building
out our ambitious development strategy, and completing value-added mergers and
acquisitions in both its' primary and new markets as well as enhancing the
operating performance of its' existing properties. In these primary markets,
the Company subsequent to the completion of the Excel Plan will control
commercial properties, a shopping plaza, hotel and land that it believes will
support the development of residential and commercial properties with an
overall projected value of $200M. The Company will also build market-leading
positions by seeking to form joint ventures with leading institutional
investors and participants in the Hotel, Tourism and Leisure Travel operating
industry. The Company believes joint ventures will enable it to increase its
overall return on invested capital, help expand into new areas and increase
its access to capital for growth.

The Company intends to prudently develop on a speculative basis as market
conditions warrant and continues to seek to expand its operations into
attractive new markets other than its primary markets. When considering entry
into a new market the Company will consider, among other factors, demographics,
job growth, employment, real estate fundamentals, competition and other related
matters.

DISTRIBUTION METHODS FOR PRODUCTS OR SERVICES
The distribution of our services is at the discretion of our Management team
and Advisory Board.  Our team seeks out prospective companies and properties
and in some cases our team has been sought out by companies that felt that
Empire's services would greatly assist in helping them reach their goals.  Each
prospect company or property is analyzed by our Management team and Advisory
Board, after which the decision is made as to whether or not the prospect would
fit well within Empire's portfolio.

STATUS OF PUBLICLY ANNOUNCED NEW PRODUCTS OR SERVICES
During the past fiscal year, besides the change from technology based
businesses to income based real estate and commercial property businesses,
Empire has publicly announced that it would acquire 501 Canada Inc. an Ontario
Corporation that owns and operates two commercial properties in Toronto,
Ontario and it also announced that it would acquire Excel Empire Limited a
British Virgin Islands registered Corporation that owns Jiaozuo Sunwin Real
Estate Development Co. a China registered company that owns and operates a new
commercial complex in Jiaozuo City, China comprised of a Shopping Plaza and a
5-star Hotel as well as an option to acquire a 150 acre parcel of undeveloped
land in Jiaozuo City.

                                      8
<PAGE>

COMPETITIVE BUSINESS CONDITIONS, COMPETITIVE POSITION IN THE INDUSTRY AND
METHODS OF COMPETITION
The Company's portfolio will be primarily located in China; however for the
period covered by this report its holdings are primarily in Toronto, Ontario.
There are numerous other industrial properties and real estate companies within
the market area of each of the properties which compete with the Company for
tenants and development and acquisition opportunities. The number of
competitive properties and real estate companies in such areas could have a
material adverse effect on the Company's (i) future operations, (ii) ability to
rent its properties and the rents charged, and (iii) development and
acquisition opportunities. The Company will compete for tenants and
acquisitions with others who may have greater resources. The Company's
competitive position for tenants is strongly influenced by economic conditions
in its market areas. However, the Company believes that its responsiveness to
tenant needs will enable it to attract and maintain high quality tenants in the
markets in which the properties are located.

Empire operates as a holding company focusing on income and growth oriented
real estate acquisitions and development companies. We do not see ourselves in
competition with any other company in this industry, however, we may be loosely
compared to companies such as Lerner-Heidenberg Properties, Westcore Properties
of Garden, CA or on a larger scale Trammel Crow of Washington, DC in that we
acquire strategically located commercial properties for income and growth
purposes. However, at the time of this report the Empire appears to be unique
in its endeavour to pursue opportunities in China. Although our extensive
research has failed to trace a similar firm or competitor that has the same
corporate structure, Empire may not necessarily be the only US Corporation that
is listed publicly and quoted on the NASDAQ Over-the-Counter-Bulletin-Board
that seeks to acquire or that has acquired a company registered in China to own
and operate a commercial real estate property or properties. Upon completion of
the merger between Empire and Excel, Empire will control a Foreign Invested
Enterprise ("FIE") in accordance with China foreign investment policy. Through
this acquisition the Company will secure two fundamental and crucial licenses
for foreign corporations to conduct business in China, the first being the
license to acquire and develop real estate property and the second being the
license to conduct retail business in China. These licenses will provide Empire
with a valuable competitive advantage when investing in China.

A key attribute we feel that the Company maintains when comparing typical
holding companies is that Management takes a vested interest in the financial
success and business planning of our target companies and investment
properties. Rather than simply offering the necessary capital, we offer
experienced management and marketing to help push the target companies and
properties into profitability. Empire is instrumental in pioneering the entry
into Mainland China for the purpose of property ownership and development by US
based corporations.

SOURCES AND AVAILABILITY OF SUPPLIES
For Empire to operate, our needs or inputs would simply be legal counsel,
accounting and auditor functions.  Suppliers for these office and management
functions are deemed to be ubiquitous.  During the period covered by this
report Gary L. Blum, ESQ acts as our legal counsel and SF Partnership, LLP as
our auditor.  Subsequent to the date of this report, our property development
subsidiary has created a need for real estate service providers.  The supply of
real estate service providers is also deemed to be ubiquitous.

DEPENDENCE ON ONE OR A FEW MAJOR CUSTOMERS
As of the end of the period covered by this report Empire has two income
producing commercial properties in Toronto, Canada with 28 lease tenants in
total. Subsequent to the period covered by this report the Company will acquire
a commercial shopping plaza in Jiaozuo City, China with 837 lease tenants.
Empire will continue to seek out new potential acquisition targets to expand
and diversify its' portfolio in conjunction with our plan of business.

                                      9
<PAGE>

PATENTS, TRADEMARKS, LICENSES, FRANCHISES, CONCESSIONS, ROYALTY AGREEMENTS OR
LABOR CONTRACTS
Empire Global Corp. does not have any patents, trademarks, licenses,
franchises, concessions, royalty agreements or labour contracts.

NEED FOR GOVERNMENT APPROVAL FOR ITS PRODUCTS OR SERVICES
Once the Excel Plan is completed, Empire through its' wholly owned subsidiary
Excel will become registered as a Foreign Invested Enterprise (FIE) in China.
As a result the Company, through its ownership of Jiaozuo Sunwin Real Estate
Development Co. has inherited a license required to acquire and develop real
property in China and a license required to conduct retail business in China.

EFFECT OF EXISTING OR PROBABLE GOVERNMENTAL REGULATIONS ON THE BUSINESS
Currently there is no effect on us of existing or probable governmental
regulations on the business.

RESEARCH AND DEVELOPMENT COSTS DURING THE LAST TWO YEARS
Since the change to the business of merchant banking approximately $700,000 has
been spent on consulting and research and development.  None of the cost and
expense arising from research and development activities is borne directly by
the customers.  The Company will bear all research and development costs
internally.

COSTS AND EFFECTS OF COMPLIANCE WITH ENVIRONMENTAL LAWS
Empire is not directly affected by any environmental laws, but may indirectly
be affected if a portfolio company project or property falls under the scope
of any Federal, State and Local environmental laws.

NUMBER OF TOTAL EMPLOYEES AND NUMBER OF FULL TIME EMPLOYEES
At December 31, 2005, the subsidiaries had approximately 25 employees;
subsequent to the period covered by this report upon completion and after
giving effect to the Excel Plan, the subsidiaries will have approximately 1,000
employees including executive officers, not all of which are full time
employees.  This figure does not include those who Empire employs through the
outsourcing of several other duties such as public relations, promotions, and
other back office duties. There are no plans to significantly change the number
or employees, and there are no expected purchases or sales of plant or
significant equipment.

RISK FACTORS
This Annual Report on Form 10-KSB includes forward-looking statements about
our business and results of operations that are subject to risks and
uncertainties. See "Forward-Looking Statements" above. Factors that could
cause or contribute to such differences include those discussed below. In
addition to the risk factors discussed below, we are also subject to additional
risks and uncertainties not presently known to us or that we currently deem
immaterial. If any of these known or unknown risks or uncertainties actually
occur, our business could be harmed substantially.

Our auditor's report on our financial statements includes an explanatory
paragraph with respect to substantial doubt existing about our ability to
continue as a going concern.

For the years ended December 31, 2005 and 2004, the Company incurred net losses
from continuing operations of $630,818 and $144,768 respectively. As of
December 31, 2005, we had an accumulated deficit of $851,656 compared to
$220,838 at December 31, 2004. As a result, our financial statements include a
note stating that these conditions may raise doubt about our ability to
continue as a going

                                      10
<PAGE>

concern; however the financial statements do not include any adjustments that
might result from this uncertainty.

We are subject to compliance with securities law, which exposes us to potential
liabilities, including potential rescission rights.

We have periodically offered and sold our common stock to investors pursuant to
certain exemptions from the registration requirements of the Securities Act of
1933, as well as those of various state securities laws. The basis for relying
on such exemptions is factual; that is, the applicability of such exemptions
depends upon our conduct and that of those persons contacting prospective
investors and making the offering. We have not received a legal opinion to the
effect that any of our prior offerings were exempt from registration under any
federal or state law. Instead, we have relied upon the operative facts as the
basis for such exemptions, including information provided by investors
themselves.

If any prior offering did not qualify for such exemption, an investor would
have the right to rescind its purchase of the securities if it so desired. It
is possible that if an investor should seek rescission, such investor would
succeed. A similar situation prevails under state law in those states where the
securities may be offered without registration in reliance on the partial
preemption from the registration or qualification provisions of such state
statutes under the National Securities Markets Improvement Act of 1996. If
investors were successful in seeking rescission, we would face severe financial
demands that could adversely affect our business and operations. Additionally,
if we did not in fact qualify for the exemptions upon which we have relied, we
may become subject to significant fines and penalties imposed by the SEC and
state securities agencies.

ADDITIONAL CAPITAL IS NECESSARY TO IMPLEMENT OUR BUSINESS PLAN
We do not have sufficient cash on hand to acquire additional assets or to
create an operating revenue stream sufficient to cover operating expenses. We
will require significant new capital in order to execute our strategic plan and
believe that this capital will only be available through the sale of debt or
equity securities. Our success in raising this capital will depend upon our
ability to access equity capital markets and we may not be able to do so or to
do so on acceptable terms. If we fail to obtain funds on acceptable terms, we
will not be able to execute our strategic plan and would have to delay or
abandon some or all of our plans for growth. If we are able to obtain
financing, we believe that the terms of such arrangements will result in an
offering that is highly dilutive to existing shareholders because of the price
at which we would have to issue those shares and the large number of shares we
would have to issued at those prices.

MARKET FOR OUR COMMON STOCK
Our common stock is quoted on the Over-the-Counter Electronic Bulletin Board
("OTCBB") and is traded sporadically. A large number of shares of outstanding
common stock are restricted and are not freely-trading. An established public
trading market for our common stock may never develop or, if developed, it may
not be able to be sustained. The OTCBB is an unorganized, inter-dealer,
over-the-counter market that provides significantly less liquidity than other
markets. Purchasers of our common stock may therefore have difficulty selling
their shares should they desire to do so.

STOCK PRICE VOLITILITY
The trading price of our common stock has been subject to significant
fluctuations in the past, and this may continue in the future. In addition,
the stock market in general has experienced extreme price and volume
fluctuations that have affected the market price for many companies in
industries similar to or related to ours and which have been unrelated to the
operating performance of these companies. These market fluctuations may
adversely affect the market price of our common stock.

                                      11
<PAGE>

PENNY STOCK REGULATIONS MAY IMPAIR LIQUIDITY OF OUR STOCK
Our common stock may be deemed a "penny stock." Penny stocks generally are
equity securities with a price of less than $5.00 per share, other than
securities registered on certain national securities exchanges. Penny stocks
are subject to rules and regulations that impose additional sales practice
requirements on broker-dealers who sell the securities to persons other than
established customers and accredited investors, and these additional
requirements may restrict the ability of broker-dealers to sell a penny stock.

Any acquisitions that we undertake could be difficult to integrate, disrupt our
business, dilute shareholder value and significantly harm our operating
results.

We expect to review opportunities to buy other business or technologies that
would complement our current business, expand the breadth of our markets, or
that may otherwise offer growth opportunities. If we make any future
acquisitions, we could issue stock that would dilute existing shareholders'
percentage ownership, incur substantial debt or assume contingent liabilities.
Potential acquisitions also involve numerous risks, including:

*    problems assimilating the purchased operations, technologies or products;
*    unanticipated costs associated with the acquisition;
*    diversion of management's attention from our core business;
*    adverse effects on existing business relationships with suppliers and
     customers;
*    risks associated with entering markets in which we have no or limited
     prior experience; and
*    potential loss of the purchased organization's or our own key employees.

We cannot provide any assurance that we would be successful in overcoming
problems encountered in connection with such acquisitions and our inability to
do so could significantly harm our business.

VARIOUS RISKS CONNECTED TO THE OWNERSHIP OF REAL PROPERTY
Our real estate investments are subject to varying degrees of risk generally
incident to the ownership of real property. Real estate values may be adversely
affected by: changes in national or local economic conditions and neighborhood
characteristics; changes in interest rates and in the availability, cost and
terms of mortgage funds; the impact of present or future environmental
legislation and compliance with environmental laws; changes in governmental
rules and fiscal policies; civil unrest; acts of God, including earthquakes and
other natural disasters which may result in uninsured losses; acts of war;
adverse changes in zoning laws; and other factors which are beyond our control.

In addition, real estate investments are relatively illiquid. Our ability to
vary our ownership of real estate property in response to changes in economic
and other conditions is limited. If we must sell a real estate property, there
can be no assurance that we will be able to dispose of it in the time period we
desire or that the sales price of any real estate property will recoup the
amount of our investment.

Our real property is also subject to real property taxes. The real property
taxes on the real property may increase or decrease as property tax rates
change and as the property is assessed or reassessed by taxing authorities. If
property taxes increase, our operations could be adversely affected.

REPORTS TO SECURITY HOLDERS
The Company is not required to deliver an annual report to security holders and
does not plan to voluntarily deliver a copy of the annual report to the
security holders. If we should choose to create an annual report, it will
contain audited financial statements. We intend to file all of our required
information with the SEC. We plan to file our 10-KSB, 10-QSBs and all other
forms that are or may become applicable with the SEC. We file reports
electronically with the Securities and Exchange Commission.

                                      12
<PAGE>

Our public disclosure protocol complies with the requirements set forth by the
Securities and Exchange Commission.  Over the course of the past fiscal year we
have filed several Form 8-Ks as described in Item 13 of this report and
quarterly reports 10-QSBs, these forms are attached as exhibits at the end of
this report.

The public may read and copy any materials we file with the SEC at the SEC's
Public Reference Room at 450 Fifth Street, N.W., Washington, D.C. 20549.  The
public may obtain information on the operation of the Public Reference Room by
calling the SEC at 1-800-SEC-0330.   The SEC maintains an Internet site that
contains reports, proxy and information statements, and other information
regarding issuers that file electronically with the SEC.  The address of that
website is (http://www.sec.gov).  In compliance with the Securities and
Exchange Commission, all press releases and SEC filings are also posted on our
website (http://www.empireglobalcorp.com).


ITEM 2. DESCRIPTION OF PROPERTY
-------------------------------

PROPERTY DESCRIPTION, CONDITION, OWNERSHIP STATUS AND LIMITATIONS
During the period covered by this report Empire gave effect to a plan of merger
and reorganization with 501 Canada Inc. through its wholly owned subsidiary
EGAC.  As a result of this merger and reorganization Empire acquired two
commercial properties in Toronto, Ontario, Canada. The properties are described
as follows:

501 Alliance Avenue - is 3.81 acres in size and has a four storey structure
with 318,703 sq. ft. of office space.  It is fully constructed and operating.
Other than the mortgage described below, there are no other limitations on
Empire's ownership of this property.

3025 Kennedy Road - has 27,700 sq. ft. of office space.  It is fully
constructed and operating. Other than the mortgage described below, there are
no other limitations on Empire's ownership of this property.

Subsequent to the date covered by this report, Empire will acquire a commercial
property located in Jiaozuo City, China as a result of its plan of merger and
reorganization with Excel Empire Limited, where by virtue of the merger Excel
will become a wholly owned subsidiary of the Company.  The property to be
acquired in this transaction is described as follows:

Jiaozuo City, Henan Province, China - Commercial complex located on a 31 acre
site situated at the intersection of Jiefang Road and Minzhu Road that is
comprised of two components: (1) a fully constructed and operating six storey
shopping plaza with over 800,000 sq. ft. of retail space; and (2) a twenty five
storey, 5-star rated hotel that is approximately 90% completed. Other than the
mortgage described below, there are no other limitations on Empire's ownership
of this property.

As a result of its merger and reorganization with Excel Empire Limited, Empire
will also acquire an option to purchase 150 acres of undeveloped land in
Jiaozuo City. The property is located in the suburbs of Jiaozuo City
approximately 10 kilometers from the commercial complex.  The plan is to
develop the property into a major tourist attraction consisting of a modern
amusement theme park and recreation park that will feature waterfalls drawn
from adjacent river flows as well as commercial and residential construction.
The company plans to begin development in late 2006. Other than the purchase of
the option on this land there are no mortgages. There is an outstanding
financial obligation as described below, to exercise the option to acquire this
land for the balance of the purchase price of $ 6,413,000; otherwise there are
no limitations on Empire's ownership of this property.

                                      13
<PAGE>

Principal Executive Office
As of December 1, 2005, we moved our headquarters and principal executive
offices to 501 Alliance Avenue, Suite 400, Toronto, Ontario, Canada, M6N 2J1
where Empire now rents office space. The Company entered into a 12 month lease
agreement for approximately 10,000 square feet, and will pay the entire amount
due under the lease on an annual basis which will total approximately $30,000.

Summary of Indebtedness
The following table sets forth the Company's indebtedness outstanding,
excluding debt premiums, at December 31, 2005.

501 Alliance Avenue - there is a first mortgage on this property due September
30, 2008 at 7.25% per annum with principal and interest repayable each month
and year-end balance of $3,816,855 and a second mortgage due May 30, 2007 with
interest payment at 12% per annum and year-end balance of $1,719,700.

3025 Kennedy Road - there is a first mortgage on this property due May 6, 2025
at prime plus 1% per annum with  principal and interest repayable each month
and year-end balance of $1,299,540 and a second mortgage due May 19, 2007 with
interest payment at 9% per annum and year-end balance of $171,970.

Subsequent to the date covered by this report, Empire will acquire a commercial
complex and undeveloped land located in Jiaozuo City, Henan Province, China.
The complex is comprised of two components a shopping plaza and a hotel - The
Company has assumed bank loans of $ 8,953,696 from Guangdong Development Bank
for a term of ten years from April 29, 2004 to April 28, 2014 with principal
and interest repayable each month,.  The loans are secured by the assets of
and guaranteed by the Company.  The bank rate is adjusted at the beginning of
each year by the Government of China.  On December 31, 2005 the rate was 5.76%
per annum with a balance of approximately $ 8,121,247. The payments due on the
mortgage are as follows:

Repayable within 1 year:                $    748,883
Repayable from 2 to 5 years:            $  3,465,442
Repayable over 5 years:                 $  3,906,922
                                        ------------
Total:                                  $  8,121,247

Empire will also acquire an option on 150 acres of undeveloped land in Jiaozuo
City. The option represents the first installment payment of $2,481,230 towards
the acquisition of Jiaozuo Filmland Television City Station of a total
consideration of $ 6,413,000. - There is no mortgage on this property.

INVESTMENT POLICIES
Investments In Real Estate Or Interests In Real Estate
The Company has not adopted any policy as to the amount or percentage of its
assets that can be invested in a single property, however, if Empire's board
of directors and advisory committee establishes that it is in the best
interest of Empire's organizational goals and its shareholders, this policy may
be changed without a vote of security holders. The primary measure for new
investments is that they offer the opportunity for an increase in cash flow and
net asset value that is likely to enhance shareholder value.

We are a diversified holding company engaged in the acquisition and operation
of income producing real estate properties that have a good potential for
growth. Our primary business objective is to continue to grow and enhance the
value of our businesses. In addition, we will invest our available liquidity
in debt and equity securities of other companies with a view towards enhancing
profits as we continue to assess further acquisitions of operating businesses.
The Company may purchase or develop properties for long-term investment,
expand, renovate and improve its properties or sell any of its existing or
acquired

                                      14
<PAGE>

properties, in whole or in part, when circumstances warrant. Currently,
Empire's policy is to acquire assets primarily for, but not limited to, income
production. The Company is not subject to any contractual commitments that
encumber any of its properties or business operations. The Company may also
participate with other entities in property ownership through joint ventures or
other types of shared ownership.

Future investments are not limited to the percentage of its assets in any
geographic area or any specified type of property; however, the Company intends
to maintain its primary focus on office or residential buildings, hotels and
resort properties, shopping centers, industrial and commercial properties,
special purpose buildings and undeveloped acreage.  Currently, Empire is
concentrating on acquisitions and developments in China where we possess a
competitive advantage.  However, the scope of Empire's real estate investment
policies allows the Company to target properties worldwide.

Rental Real Estate
During the period covered by this report, our rental real estate operations
consist primarily of retail, office and industrial properties leased to
multiple corporate tenants. With certain exceptions, these tenants are under
net-leases and are not required to pay for expenses relating to the leased
property and, therefore, we are typically responsible for payment of expenses,
including maintenance, utilities, taxes, insurance or any capital items
associated with such properties. These costs are calculated as a Taxes,
Maintenance and Insurance (TMI) levy on the tenant's base rental rate.
Subsequent to the period covered by this report the Company will acquire a
retail shopping center and hotel as well as undeveloped land. The tenants of
the shopping plaza to be acquired in Jiaozuo City, China have entered into
annual lease agreements tied to a specific floor area measured in square meters
and operate in an open concept environment such as a market style plaza; unlike
traditional North American malls where tenants lease specific independent units
under various lease agreements all connected by common hallways, lobbies and
corridors. The hotel structure will be operated by Days Hotel and Suites under
a ten year management agreement.

To capitalize on favorable real estate market conditions and the due to the
mature nature of certain components of our commercial real estate portfolio,
in late 2005 we determined to offer for sale specific assets within our rental
real estate portfolio. During the period covered by this report, the company
has not sold any existing real estate properties.

We will continue to seek opportunities to acquire additional rental real estate
properties. While we believe opportunities in real estate related acquisitions
continue to remain available, in certain markets there is increasing
competition for these opportunities and the increased competition affects price
and the ability to find quality assets that provide attractive returns.

Investments in Real Estate Mortgages
While the Company intends to emphasize directly or indirectly on fixed or real
estate equity investments, it may, in its discretion, invest in mortgages which
may also include but is not limited to participating or convertible mortgages
and other real estate interests including preferred equity interests in
entities which own real estate, collectively "financial assets". The Company's
investment in financial assets may include investments as a strategy for
ultimately acquiring a property, and might also include the purchase of
non-performing loans at a discounted price.

Financing Policies
The Company has not adopted any policy to limit the amount or percentage of
debt the Company may incur or maintain on any one piece of property. Under
certain instruments of indebtedness, the Company may be obligated to maintain
certain financial ratios.

                                      15
<PAGE>

The Company may in the future adopt a debt policy in light of then current
economic conditions, relative costs of debt and equity capital, market values
of properties, growth and acquisition opportunities and other factors, and may
modify any debt financing policy from time to time. If the Board of Directors
determines that additional funding is required, the Company may raise such
funds through additional equity offerings (including offerings of senior
securities), debt financing or retention of cash flow, or a combination of
these methods. The Company has agreed as a result of certain acquisitions
closed since December 2004 to use all commercially reasonable efforts to
maintain a certain level of indebtedness and to permit its subsidiaries to
guarantee such level of indebtedness. Our equity real estate investments may
be subject to existing mortgage financing and other indebtedness which have
priority over the equity interest of the Company. At December 31, 2005,
approximately $6.9 million in the aggregate and subsequent to the period
covered by this report and upon completion of the Excel Plan approximately
$42.2 million, in the aggregate, of the Company's outstanding indebtedness is
guaranteed by these subsidiaries under these agreements.

In the event the Board of Directors determines to raise additional equity
capital, the Board of Directors has the authority, without shareholder
approval, to issue additional Common Shares up to the maximum number
authorized, or other capital stock, on such terms and for such consideration it
deems appropriate, including in exchange for property. Any such offerings might
cause a dilution of a shareholder's investment in the Company.

To the extent that the Board of Directors determines to obtain additional debt
financing, the Company intends to do so generally through loans secured by
mortgages on its properties and lines of credit. These mortgage loans may be
recourse, non-recourse or cross-collateralized and may contain cross-default
provisions. Although the Company does not have a policy limiting the number of
mortgages that may be placed on any particular property or the amount of the
loans secured by such mortgages, mortgage financing instruments usually limit
additional indebtedness on such properties. Indebtedness incurred by the
Company may be in the form of bank borrowings, secured and unsecured, and
publicly and privately placed debt instruments. Such indebtedness may be with
recourse to all or any part of the properties of the Company, or may be limited
to the particular property to which the indebtedness relates. The proceeds from
any borrowings by the Company may be used for the payment of distributions, for
working capital, to refinance existing indebtedness or to finance acquisitions
of new properties or expansions of existing or new properties.

The Company will acquire additional real estate assets using Common Shares or
debt financing to pay all or a portion of the purchase price when the Company
believes that such issuance and indebtedness would be accretive to its
intrinsic value on a per share basis. The Company may also issue senior equity
securities or shares of preferred stock for this purpose. There can be no
assurance that such issuances will not be dilutive to the Company's existing
shareholders. In addition, Common Shares may be issued on terms which grant the
recipient the right to require the Company to register the shares under the
Securities Act of 1933, as amended (the "Securities Act"). Sales of those
shares may adversely affect the market price of the Company's outstanding
Common Shares.

DESCRIPTION OF REAL ESTATE AND OPERATING DATA
Summary of Properties, Principal Tenants and Lease Expirations
The following section sets forth certain information with respect to each of
the properties in our portfolio (including properties owned through joint
ventures) at December 31, 2005 as well as certain information relating to a
property that shall be acquired upon completion of the Excel Plan subsequent to
this report.

The following section also sets forth information regarding the leases with
respect to the current tenants at the properties in our portfolio (including
joint ventures), based on the Annualized Rent from such tenants as of December
31, 2005 and the annual lease expirations and certain other information for the
leases

                                      16
<PAGE>

(assuming that no tenants exercise renewal or cancellation options and that
there are no tenant bankruptcies or other tenant defaults):

Property:  501 Alliance Ave., Toronto, Ontario, Canada (1)
----------------------------------------------------------

Description:
This is a 4 storey structure plus a west wing extension constructed on a 3.8
acre property. Each floor is approximately 65,000 sq. ft. and subdivided to
accommodate various tenants for a total leasable area of 315,950.

Proposed use and suitability for use:
This property is subdivided into 25 units that are occupied by various tenants.
The nature of the building is to provide lease income for the business.

Nature of title to Property
The Company, through its wholly owned subsidiary EGAC owns the title to the
property and there is a mortgage on the property.

Mortgages, Liens, Encumbrances
*    First mortgage: DUCA Financial.  Second mortgage: Epireon Financial.
*    First mortgage interest rate is 7.25% per annum.  Second mortgage interest
     is 12% per annum.
*    First mortgage payments are principal and interest repayable monthly.
     Second mortgage is interest only payments made monthly.
*    First mortgage due September 30, 2008.  Second mortgage due May 30, 2007.
*    First mortgage year end balance is $3,816,855.  Second mortgage year end
     balance is $1,719,700.

Lease, Options, Contracts
There are currently 24 leases as shown below.

Renovations, Improvements, Developments
There are no plans to renovate or remodel the property.

General competitive conditions
There are nine similar commercial buildings on the same street, all are single
storey structures with a  single use or purpose, our property is four storey's
and purpose built for both commercial and industrial tenants. Our tenants range
from restaurants, banquet and clubs to supermarket, furniture store, artists
and manufactures. There is also ample outdoor parking as well as a full level
of underground level parking, substantial landscaping and the property is
strategically located at the main intersection with access from four
directions.

Insurance
In the opinion of the management, the building is adequately covered by
insurance including fire, theft and natural disaster insurance.

Number of Tenants occupying 10% of rentable space
There is only 1 tenant that occupies more than 10% of rentable space. The
tenant operates a private commercial school that occupies 65,000 square feet or
approximately 100% of one floor. The floor is subdivided into a reception and
registration area, classrooms and several auditoriums as well as teacher and
staff quarters.

                                      17
<PAGE>

Principal Occupations and Businesses
There is a wide range of tenant business within the building including:
Restaurant, club banquet hall, window manufacturer, cabinet manufacturer,
heating system manufacture, computer warehouse and retailer, imported furniture
warehouse and retailer, artists studio, computer services company, private
commercial school, executive offices.

Year Built:  1950

Total Area (sq. ft.):  315,950

# of Leases:  24

Occupancy rate:  80% full

Major Tenant:  Cambridge Education Group Canada

Average Effective Annual Rent per sq. ft. (3):  $4.00 per square ft.

Schedule of lease expirations within the next 10 years (4):

Unit/                              Area           Annual      Percentage of
Tenant      Lease Exp.          sq. ft.         Rent (5)         Gross Rent
---------------------------------------------------------------------------
101          14-Jan-09            5,000
101A         30-Nov-08            2,700
212          14-Jan-09            9,200
213          14-Jan-09            7,000           90,000               8.7%
101B         14-Feb-10           12,000           36,000               3.5%
102          28-Feb-07            3,350           36,000               3.5%
103          28-Feb-08           15,600           48,000               4.7%
105          28-Feb-06            6,000           36,000               5.6%
106          30-Jan-07           11,340           36,000               3.5%
1A           31-Dec-07            1,825           18,000               1.7%
3            21-Aug-10           13,500          103,121              10.0%
3A           31-Jul-07            1,586           10,800               1.0%
3B           31-Aug-07           13,364           45,600               4.4%
4            31-Aug-08           15,000           84,000               8.2%
203          31-Mar-07              580            4,200               0.4%
204          31-Jul-06              740           10,200               1.0%
206          30-Jun-06              275            3,300               0.3%
207          15-Jun-06              270            3,300               0.3%
208          30-Jun-06              270            3,300               0.3%
210          28-Feb-07              510            4,800               0.5%
220          31-Jul-08            8,000           30,000               2.9%
222          28-Feb-07            6,600           36,000               3.5%
223          31-Mar-08            9,600           67,000               6.5%
301          31-Dec-10           65,000          324,996              31.5%
                           -----------------------------
                                209,310       $1,030,617

                                                              Percentage of
                                 Leased        Available          Available
Total Leased Ratios:            209,310          315,950              66.2%
Average Lease Term:             3 years

                                      18
<PAGE>

Depreciation Methods:   Land and building:  straight-line (5%)

Reality Tax:  $135,601


Property: 3025 Kennedy Rd. Units 9, 11, 12, 13, Scarborough, Ontario, Canada (1)
--------------------------------------------------------------------------------

Description:
The property is described as commercial condominium units situated within a
single story commercial building with a total leasable area of 27,500.

Proposed use and suitability for use:
This property is subdivided into 4 units that are occupied by various tenants.
The nature of the building is to provide lease income for the business.

Nature of title to Property
The Company, through its wholly owned subsidiary EGAC owns the title to the
property and there is a mortgage on the property.

Mortgages, Liens, Encumbrances
*    First mortgage: HSBC.  Second mortgage: Sheldon Gross.
*    First mortgage interest rate is prime plus 1% per annum.  Second mortgage
     interest is 9% per annum.
*    First mortgage payments are principal and interest repayable monthly.
     Second mortgage is interest only payments made monthly.
*    First mortgage due May 6, 2025.  Second mortgage due May 19, 2007
*    First mortgage year end balance is $1,299,540.  Second mortgage year end
     balance is $171,970.

Lease, Options, Contracts
There are currently 5 leases as shown below and one offer to purchase unit #13
from the Company.

Renovations, Improvements, Developments
There are no plans to renovate or remodel the property.

General competitive conditions
The property is situated in a commercial area of Scarborough, Ontario the
property is in a prime location that fosters repeat tenancy and competitive
rental rates.

Insurance
In the opinion of the management, the building is adequately covered by
insurance including fire, theft and natural disaster insurance.

Number of Tenants occupying 10% of rentable space
None.

Principal Occupations and Businesses
There are the following tenant businesses: Karate school, Building supply
warehouse, executive financial office, Hindu Temple

Year Built:  1970

                                      19
<PAGE>

Total Area (sq. ft.):  27,500

# of Leases:  5

Occupancy rate:  100% full

Major Tenant:  Hindu Temple

Average Effective Annual Rent per sq. ft. (3):  $9.08 per square ft.

Schedule of lease expirations within the next 10 years (4):

Unit/                              Area           Annual      Percentage of
Tenant      Lease Exp.          sq. ft.         Rent (5)         Gross Rent
---------------------------------------------------------------------------
9A           28-Feb-07            4,300           42,000              16.8%
9B           28-Feb-07            3,200           28,800              11.5%
11           31-Aug-06            7,300           60,000              24.0%
12           30-Jun-06            2,700           24,000               9.6%
13           31-Aug-09           10,000           95,004              38.0%
                           -----------------------------
                                 27,500         $249,804

                                                              Percentage of
                                 Leased        Available          Available
Total Leased Ratios:             27,500           27,500               100%
Average Lease Term:             4 years

Depreciation Methods:   Land and building:  straight-line (5%)

Reality Tax:  $10,240


Property:  Sunwin Commercial Center, Intersection of Jiefang Road and Minzhu
Road, Jiefang District, Jiaozuo City, Henan Province, Peoples Republic of
China (2)
----------------------------------------------------------------------------

Description:
The property is described as a multi use commercial complex comprised of an
800,000 sq. ft. 6 storey shopping plaza and a 25 storey 5-star hotel.

Proposed use and suitability for use:
The property is comprised of a 6 storey shopping plaza that opened to the
public on November 28, 2004. There are approximately 837 tenants that occupy
approximately 90% of the complex that operates as a commercial retail center.
The second component is a hotel that is scheduled to open in mid-2006. The
hotel will be a 5-star caliber property and will be managed by Days Hotel and
Suites.

Nature of title to Property
Through its acquisition of Excel Empire Limited the Company will own the title
to the property and there is a mortgage on the property.

Mortgages, Liens, Encumbrances
*    First mortgage: Guangdong Development Bank
*    The loans are secured by the assets of and guaranteed by the Company.
     The bank rate is adjusted at the beginning of each year by the Government
     of China.  On December 31, 2005 the rate was 5.76%.

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<PAGE>

*    Principal and interest repayable each month.
     Repayable within 1 year: $748,883
     Repayable from 2 to 5 years: $3,465,442
     Repayable over 5 years: $3,906,922
     Total: $8,121,247
*    Term is ten years from April 29, 2004 to April 28, 2014
*    Year end balance of approximately $ 8,121,247

Lease, Options, Contracts
There are currently 837 leases.

Renovations, Improvements, Developments
There are no plans to renovate or remodel the property.

General competitive conditions
The property is the newest and most modern complex of its kind in Jiaozuo City,
Province of Henan in China. With respect to the shopping plaza, Jiaozuo City is
the major shopping center drawing from a service population of approximately 11
million therefore the market for retail business is very good. The shopping
plaza is complimented by the 5-star hotel will be the only venue of its kind in
the region and will undoubtedly attract a large market. We feel that we are
unique and will be in an excellent business position as a result.

Insurance
In the opinion of the management, the building is adequately covered by
insurance including fire, theft and natural disaster insurance.

No. Tenants occupying 10% of rentable space
None.

Principal Occupations and Businesses
The principal businesses of the occupants are general retail products and
personal items such as clothing, jewelry, accessories, complimented by
restaurants, and a supermarket. The hotel will be operated by Days Hotel and
Suites and will be comprised of an extensive main lobby with boutiques and
shops, eight floors of restaurants, convention centre and spas, floors 8
through 25 comprise of standard rooms and executive and presidential suites.

Year Built:  2004

Total Area (sq. ft.):  Shopping Center - 737,289.  Hotel - 437,976 .

# of Leases:  837

Occupancy rate:  90% full

Major Tenant:  DTZ Management - Shopping Center.  Days Hotel and Suites - Hotel

Average Effective Annual Rent per sq. ft. (3):  $8.69 per square ft.

                                      21
<PAGE>

Schedule of lease expirations within the next 10 years (4):

Unit/                              Area           Annual      Percentage of
Tenant      Lease Exp.          sq. ft.         Rent (5)         Gross Rent
---------------------------------------------------------------------------
837 units       Annual          552,670       $2,485,982             100.0%

                                                              Percentage of
                                 Leased        Available          Available
Total Leased Ratios:            552,670          552,670               100%
Average Lease Term:              1 year

Depreciation Methods:   Land and building:  straight-line (5%)

Reality Tax:  Not Applicable: In China a "License of Use of Land" is issued
upon payment in full of a fifty year lease. This is equivalent to the land
taxes in North America, except that it is paid in a lump sum. The License of
Use of Land fee paid by Excel Empire to acquire the 31 acres to construct the
Jiaozuo Commercial Square was: $8,215, 609 and is valid from November 30, 2002
to November 30, 2052

(1)  These properties are owned by the Empire Global Acquisition Corp. a wholly
     owned subsidiary of the Company.

(2)  This property is owned by Excel Empire Ltd. a Foreign Joint Venture
     Partner of Jiaozuo Sunwin Real Estate Development Co. Ltd. a China
     Registered Corporation and wholly owned subsidiary of the Company and will
     be acquired subsequent to the period covered by this report.

(3)  Annual rent per leased square foot, as used throughout this report,
     represents annualized rent, as described in footnote (5) below, and
     divided by the leased square footage of the property.

(4)  This list is not intended to be representative of the Company's tenants as
     a whole.

(5)  Annual rent represents the total contractual base rent under existing
     leases for the month ended December 31, 2005, before any abatement and
     excluding any expense reimbursements, multiplied by 12.


ITEM 3. LEGAL PROCEEDINGS
-------------------------

The Company is subject to claims arising in the ordinary course of business.
The Company and Management believe that, after consultation with counsel, the
allegations against the Company included in the claims described below may be
subject to substantial legal defenses, and the Company is vigorously defending
each of the allegations. At this time, it is not possible to estimate the
ultimate loss or gain, if any, related to these claims, nor if any such loss
will have a material adverse effect on the Company's results of operations or
financial position.

Pending Legal Matters
On September 9, 2005, the Company was served with a Statement of Claim filed in
the Ontario Superior Court of Justice by Research Capital Corporation
("Research") a broker/dealer in Ontario claiming $100,000 in aggregate damages
plus interest and costs against 4 co-respondents including the Company and a
former consultant of the Company. The former consultant had opened a stock
trading account at Research (the "Research Customer") and proceeded to
knowingly sell shares of the Company that were subject to a Stop Transfer.
Research is claiming recovery of proceeds paid to the Research Customer
through early settlement as a result of sales of shares of the Company.  The

                                      22
<PAGE>

Company has filed a Statement of Defense and is vigorously defending the claim
as it believes that the Research Customer was made aware that a Stop Transfer
was placed on the shares delivered to the Research Customer.  The Company is of
the opinion that Research should not have sold the shares and paid an early
settlement to their customer until the shares had cleared through the Company's
transfer agent.  The Company is defending the claim and by way of counterclaim
is claiming recovery of the subject shares, the matter remains unresolved.

On November 1, 2005, the Company was served with a Statement of Claim filed in
the Ontario Superior Court of Justice by Advanced Refractive Technologies Inc.
("Advanced") claiming $6,000,000 in aggregate damages plus unspecified amounts
against 16 co-respondents including the Company for unknown loses that
Advanced incurred in its dealings with an unknown and unrelated entity or
person (the "unrelated entity").  Advanced alleges that this unrelated entity,
in a private transaction with Advanced, may have promised to exchange shares of
the Company that the unrelated entity had claimed to have owned.  The Company
has never been a party to any dealings with Advanced or the unrelated party and
prior to receiving notice from Advanced had never heard of Advanced.  The
Company denies any wrongdoing and is vigorously defending this claim.  Because
of the uncertainties inherent in litigation, the company cannot predict whether
the outcome which remains unresolved will have a material adverse affect.

On December 10, 2004, the Ontario Securities Commission ("OSC") served upon the
former President and C.E.O. of the Company (the "former executive"), and
companies controlled by the former executive, as well as an unrelated
shareholder of the Company and an unrelated party collectively the
"respondents" an order to cease trading in shares of the Company formerly known
as Pender International, Inc. ("Pender").  The Company is aware of the
proceedings; however, is not a respondent to these proceedings. The order was
issued to allow the OSC an opportunity to investigate trading in shares of
Pender over the period between October 27, 2004 and November 19, 2004. The OSC
alleges that the respondents may have been trading in shares of Pender in such
a way to be manipulative in nature and causing and artificial increase in the
price of the shares.  The respondents deny the allegations and have filed
responding materials contrary to the allegations.  The respondents and the
Company have been cooperating with the OSC and informal inquiries made by the
United States Securities and Exchange Commission ("SEC").  The investigation
and inquiry remains unresolved and is currently on going.


ITEM 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS
---------------------------------------------------------

The following matters were submitted to a vote of security holders during the
year ended December 31, 2005:

A vote was held on June 17, 2005 and subsequently passed by security holders of
a majority of more than 51% of the issued and outstanding shares of the Company
giving consent to the sale of Montebello Developments Corp. and IMM Investments
Inc.

A vote was held on June 17, 2005 and subsequently passed by security holders of
a majority of more than 51% of the issued and outstanding shares of the Company
giving consent to the change in name from Pender International, Inc. to Vianet
Technology Group Ltd. and giving consent to a 1-for-10 reverse split of the
common stock of the Company.

A vote was held on July 21, 2005 and subsequently passed by security holders of
a majority of more than 51% of the issued and outstanding shares of the Company
giving consent to the change in name from Vianet Technology Group Ltd. to
Tradestream Global Corp.

                                      23
<PAGE>

A vote was held on July 22, 2005 and subsequently passed by security holders of
a majority of more than 51% of the issued and outstanding shares of the Company
giving consent to the cancellation of negotiations and termination of the
Preliminary Agreement with VIANET Direct.

A vote was held on August 15, 2005 and subsequently passed by security holders
of a majority of more than 51% of the issued and outstanding shares of the
Company giving consent to the cancellation of negotiations and termination of
the Preliminary Agreement with Tradestream Global AG.

A vote was held on September 15, 2005 and subsequently passed by security
holders of a majority of more than 51% of the issued and outstanding shares of
the Company giving consent to the change in name from Tradestream Global Corp.
to Empire Global Corp. and to organize Empire Global Acquisition Corp. to
become a wholly owned subsidiary of the Company and giving consent to a
1-for-10 reverse split of the common stock of the Company.

A vote was held on October 31, 2005 and subsequently passed by security holders
of a majority of more than 51% of the issued and outstanding shares of the
Company giving consent to the merger with 501 Canada Inc. through its' wholly
owned subsidiary Empire Global Acquisition Corp and giving consent to the
issuance of 6,240,000 new shares of the Company as consideration for the
acquisition of 501 Canada Inc.

A vote was held on November 7, 2005 and subsequently passed by security holders
of a majority of more than 51% of the issued and outstanding shares of the
Company giving consent to the merger with Excel Empire Limited and giving
consent to the issuance of 36,400,000 new shares of the Company as
consideration for the acquisition of Excel Empire Limited.


PART II
-------

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
----------------------------------------------------------------

MARKET INFORMATION
Our common stock is quoted on the Over the Counter Electronic Bulletin Board
(OTCBB), which is a network of security dealers who buy and sell stock.  The
dealers are connected by a computer network which provides information on
current "bids", "asks" and volume.  We were listed and became eligible for
trading on the OTCBB on March 4, 2004. We now trade under the symbol, EMGL.OB
(formerly TGLC.OB, VGTL.OB and PNDR.OB). Trading in the common stock in the
over-the-counter market has been limited and sporadic and the quotations set
forth below are not necessarily indicative of actual market conditions.
Further, these quotations reflect inter-dealer prices without retail mark-up,
mark-down, or commission, and may not necessarily reflect actual transactions.
Such quotes are not necessarily representative of actual transactions or of the
value of our common stock, and are in all likelihood not based upon any
recognized criteria of securities valuation as used in the investment banking
community. The following tables set forth the high and low sale prices for our
common stock as reported on the Electronic Bulletin Board for the periods
indicated.

PERIOD                                                      BID PRICES
2004                                                    HIGH            LOW
January 1 - March 31                               $   0.000      $   0.000
April 1 - June 30                                      0.000          0.000
July 1 - September 30                                  0.000          0.000
October 1 - December 31 - pre forward split (1)        0.310          0.280
October 1 - December 31 - post forward split (1)      11.650          0.040

                                      24
<PAGE>

PERIOD                                                      BID PRICES
2005                                                    HIGH            LOW
January 1 - March 31                               $   6.751      $   0.170
April 1 - June 30 - pre reverse split (2)              0.263          0.086
July 1 - September 30 - post reverse split (2)         1.050          0.290
July 1 - September 30 - pre reverse split (3)          1.050          0.290
October 1 - December 31 - post reverse split (3)       3.000          0.800

(1)  Our Board of Directors authorized a 7 for 1 forward split of our common
     stock on July 13, 2004 which became payable on July 26, 2004 to
     shareholders on record as of July 23, 2004.  As a result of this action,
     the holder of each share of the Company's common stock then owned seven
     shares of common stock after which there were a total of 36,498,000 issued
     and outstanding shares of common stock of the Company. The high and low
     prices for the Fourth Quarter are divided into pre and post forward split
     periods, the prior prices were not adjusted to reflect the effects of the
     reverse split.

(2)  Our Board of Directors authorized and a 1 for 10 reverse split of our
     common stock on June 17, 2005 which became effective on June 30, 2005. As
     a result of this action, the holder of each share of the Company's common
     stock then owned one-tenth of one share of common stock after which there
     were a total of 5,958,672 issued and outstanding shares of common stock of
     the Company. The high and low prices for the Second and Third Quarter are
     divided into pre and post reverse split periods, the prior prices were not
     adjusted to reflect the effects of the reverse split. The 2005 high and
     low bid prices were not adjusted for this reverse split.

(3)  Our Board of Directors authorized a 1 for 10 reverse split of our common
     stock on September 15, 2005 which became effective on September 29, 2005.
     As a result of this action, the holder of each share of the Company's
     common stock then owned one-tenth of one share of common stock after which
     there were a total of 745,867 issued and outstanding shares of common
     stock of the Company. The high and low prices for the Third and Fourth
     Quarter are divided into pre and post reverse split periods, the prior
     prices were not adjusted to reflect the effects of the reverse split.

SHAREHOLDERS
As of March 15, 2006, there were an estimated 500 holders of record of our
common stock. Certain of the shares of common stock are held in street name or
are listed as undisclosed and may, therefore, be held by several beneficial
owners.

DIVIDENDS
Since the year end December 31, 2004, we have not declared any cash dividends.

On July 26, 2004, shareholders of record on that date became entitled to
receive a stock dividend of six new shares of common stock of the Company for
each one share held pursuant to a forward split approved by the Board of
Directors of the Company on July 12, 2004.

We have never paid a cash dividend on our common stock. The payment of
dividends may be made at the discretion of our Board of Directors, and will
depend upon, among other things, our operations, capital requirements, and
overall financial condition.

DESCRIPTION OF SECURITIES
As of March 31, 2006, there were 6,985,867 shares of common stock, of 0.0001
par value, issued and outstanding. Of those shares, at least 6,290,000 shares
are restricted securities of Empire within the meaning of Rule 144(a)(3)
promulgated under the Securities Act of 1933, as amended, because such shares
were issued and sold by us in private transactions not involving a public

                                      25
<PAGE>

offering or issued as consideration for an exchange of stock pursuant to the
Plan of Merger and Reorganization with 501 Canada Inc. on October 27, 2005
which included shares issued to an affiliate of the Company.

The restricted securities may only be sold pursuant to a registration statement
or pursuant to Rule 144. In general, under Rule 144, as currently in effect,
subject to the satisfaction of certain other conditions, a person, including an
affiliate of ours (in general, a person who has a control relationship with us)
who has owned restricted securities of common stock beneficially for at least
one year is entitled to sell, within any three-month period, that number of
shares of a class of securities that does not exceed the greater of (i) one
percent (1%) of the shares of that class then outstanding or, if the common
stock is quoted on NASDAQ, (ii) the average weekly trading volume of that class
during the four calendar weeks preceding such sale. A person who has not been
an affiliate of ours for at least the three months immediately preceding the
sale and has beneficially owned shares of common stock for at least two (2)
years is entitled to sell such shares under Rule 144 without regard to any of
the limitations described above.

No prediction can be made as to the effect, if any, that future sales of shares
of common stock or the availability of common stock for future sale will have
on the market price of the common stock prevailing from time-to-time. Sales of
substantial amounts of common stock on the public market could adversely affect
the prevailing market price of the common stock.

1 for 10 Reverse Split
On September 30, 2005, we completed a 1 for 10 reverse split of our common
stock. We filed a notice under rule 10b-17 with NASD of our intention to effect
the reverse split and reflected the approval of our Board of Directors and
written consent of a majority shareholders. All fractional shares will be
rounded up to the nearest whole shares.

1 for 10 Reverse Split
Effective June 30, 2005, we completed a 1 for 10 reverse split of our common
stock. We filed a notice under rule 10b-17 with NASD of our intention to effect
the reverse split and reflected the approval of our Board of Directors and
written consent of a majority shareholders. All fractional shares will be
rounded up to the nearest whole shares.

7 for 1 Forward Split
On July 23, 2004, the Board of Directors approved a 7 for 1 forward split of
our common stock. We filed a notice under rule 10b-17 with NASD on July 13,
2004 of our intention to effect the forward split and reflected the approval of
our Board of Directors and written consent of a majority shareholders. All
fractional shares will be rounded up to the nearest whole shares. The common
stock dividend was payment date was July 26, 2004 to stockholders of record as
at July 23, 2004.  The common stock dividend increased the registrant's issued
and outstanding number of shares of common stock to 57,498,000 shares.

On September 21, 2004, the Board of Directors approved an amendment to the
Certificate of Incorporation of the Company to increase the number of
authorized common shares from 80,000,000 to 400,000,000. On the same day the
increase was approved by the holders of a majority of the issued and
outstanding shares of common stock, notice of the increase was provided to all
shareholders of record and a Certificate of Amendment was filed with the State
of Delaware.

Preferred Stock
The Company has authorized 20,000,000 preferred shares of which none have been
issued.

                                      26
<PAGE>

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
The purpose of The 2005 Incentive Stock Option Plan (the "Stock Plan") is to
secure long-term relationships for the Company and its stockholders, from the
benefits arising from capital stock ownership by the Company's Officers,
Directors, Employees, Consultants and Advisors, who can help in the Company's
growth and success and to provide an effective means of compensation for such
persons and entities providing services to the Company in lieu of cash payments
therefore.  The Stock Plan became effective as of the 1st day of July, 2005,
and shall expire on the 30th day of June, 2015, unless further extended by
appropriate action of the Board of Directors.  The Board of Directors of the
Company may at any time, by appropriate action, suspend or terminate the Stock
Plan, or amend the terms and conditions of the Stock Plan.

Pursuant to the stock plan, 1,000,000 shares of common stock, par value $0.0001
per share, of Empire Global Corp., may be issued upon the exercise of stock
options or stock grants.  Consultants, Advisors, Employees and Directors, to
the Company, or any of its subsidiary corporations, shall be eligible for
participation in the Stock Plan.  Each person or entity acquiring shares of
Common Stock pursuant to the Stock Plan shall be acquiring such shares for
investment purposes only, and in lieu of cash compensation for services
rendered to the Company.  The Committee shall determine the manner in which
each option or stock grant shall be exercisable and the timing and form of the
purchase price to be paid by a grantee upon the exercise of an option or stock
grant under the Stock Plan.  To the extent provided in the option agreement,
payment of the purchase price may be in cash, part in cash, part by personal
promissory note or in lieu of payment for services performed.  There are no
restrictions on the resale of securities purchased under the Stock Plan.  The
Stock Plan is not qualified under Section 401(a) of the Internal Revenue Code.

On July 26, 2005, options to purchase up to a total of 1,000,000 shares of
common stock were granted at an exercise price of $0.50 per share to two
consultants pursuant to Consulting Services Agreements entered into with the
Company to perform research and analysis work with respect to business planning
in the potential acquisition technology based companies. The shares were issued
in lieu of payment for services performed or to be performed. The Company
relied on the exemption from the registration requirements of the Securities
Act provided by Rule 701 under the Securities Act. More details of the Stock
Plan and the shares issued pursuant to these consultant agreements can be found
on Form S-8 filed on July 27, 2005.

RECENT SALES OF UNREGISTERED SECURITIES
There are no recent sales of unregistered securities by the Company during the
period covered by this report, which have not been previously disclosed in Form
10-QSB filings or Form 8-K filings.

Share exchange - IMM Investments Inc.
On July 9, 2004, the Company acquired 100% of IMM Investments Inc., thus making
IMM a wholly owned subsidiary of the Company.  The Company acquired IMM from KJ
Holding Inc. an Ontario Corporation, by issuing KJ Holding Inc. 21,000,000
(post-split) restricted shares of the Company in exchange for 100% of the
issued and outstanding stock in IMM. Details of this transaction are available
on the Form 8-K filed on July 14, 2004 to announce the acquisition of IMM
Investments Inc. and the Form 8-K/A filed on December 3, 2004 to amend 8-K
filed on July 14, 2004.  Items 2.01 and 9.01 were amended on this report.

Sale of Shares - Private Placements - Cancellation of Debt
On June 27, 2005 Empire completed the private placement of 2,088,720
(pre-split) shares of its common stock.  The Company issued a total of
2,088,720 shares of common stock with a total value of $208,872 to an
accredited investor in exchange for the cancellation of debt owed by the
Company respectively to the investor.

                                      27
<PAGE>

On July 27, 2005 Empire completed the private placement of 500,000 (pre-split)
shares of its common stock.  The Company issued a total of 500,000 shares of
common stock with a total value of $150,000 to an accredited investor in
exchange for the cancellation of debt owed by the Company to the investor.

On October 12, 2005 Empire completed a private placement of 814,100 shares of
its common stock.  The Company agreed to issue a total of 814,100 shares of
common stock with a total value of $472,178 to a group of accredited investors
in exchange for the cancellation of debt owed by the Company respectively to
each investor.  Each share to be issued in the above said private placement is
accompanied by a warrant to acquire up to two additional shares of the
Company's common stock with an exercise price of one dollar ($1.00) per share,
exercisable up to October 12, 2007.

The shares and warrants issued in each private placement are exempt from the
registration requirements of the Securities Act of 1933 (the "Act") pursuant to
Section 4(2) of the Act and Rule 506 promulgated thereunder.  Each investor is
an "accredited investor" under the Act, and no form of general solicitation or
general advertising was conducted in connection of the private placement.

Each of the certificates representing shares and warrants of the Company's
common stock issued in each private placement contain restrictive legends
preventing the sale, transfer or other disposition of such shares, unless
registered under the Securities Act.

Share Exchange - Empire Global Acquisition Corp.
On October 31, 2005 Empire Global Corp. acquired 100% of 501 Canada Inc.
("501") through its wholly owned subsidiary Empire Global Acquisition Corp.
Empire acquired 501 from the former shareholders of 501, by issuing to these
former shareholders 6,240,000 (post-split) restricted shares of Empire in
exchange for 6,240,000 shares of Empire Global Acquisition Corp. ("EGAC") that
were acquired by the former 501 shareholders in exchange for 100% of the issued
and outstanding stock in 501. Details of this transaction are available on the
Form 8-K filed on November 3, 2005 to announce the acquisition of 501 Canada
Inc. and the Form 8-K/A filed on November 3, 2005 to amend the Form 8-K filed
on November 3, 2005.  Audited financial statements as required under SEC
regulations were attached and amended as exhibits on this report Form 8-K/A.

Share Exchange - Excel Empire Limited (To be returned and canceled)
On November 22, 2005 the Company instructed its transfer agent to issue shares
pursuant to the Plan of Merger and Reorganization with Excel Empire Limited
("Excel")(the "Excel Plan"). The shares are issued as consideration for the
shares of Excel to be acquired pursuant to the Excel Plan. The shares are to be
delivered upon closing and the effective completion of the Excel Plan. The
closing of the plan is defined as "5 pm on November 4, 2005" however; the
effective date will be "upon filing of a Certificate of Merger with the
Secretary of State of the State of Delaware". Since the conditions of closing
were not met during the period covered by this report and until such conditions
are met in full and waived by the Company the shares were not delivered. The
Company plans to return the shares to the Transfer Agent for cancellation and
re-issue the shares with the correct effective date once a Certificate of
Merger is filed with the State of Delaware as require pursuant to the Excel
Plan.

REGISTRATION STATEMENTS
On July 27, 2005 Empire issued 500,000 shares each by way of S-8 registration
to two consulting firms for an aggregate total of 1,000,000 (pre-split) shares
of its common stock. The consulting firms were engaged to assess and make
recommendations with respect to the Company's plans to enter into a merger and
reorganization with Vianet Direct, Inc. and subsequently Tradestream Global,
AG. Five Hundred Thousand (500,000) of these shares were subsequently subject
to a stop transfer and are subject to legal proceedings as described elsewhere
in this report.

                                      28
<PAGE>

PURCHASES OF EQUITY SECURITIES BY THE REGISTRANT
No stock repurchases were made by Empire or affiliated purchasers in a month
within the fourth quarter of the fiscal year covered by this report.


ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS
--------------------------------------------

GENERAL
The company started 2005 in the merchant bank business. Our primary objectives
involved creating and managing a diverse and comprehensive portfolio of
companies operating in key industry sectors. We did not meet our primary
objectives in 2005. As a result, during 2005 we reorganized to form a
diversified holding company to focus on income producing real estate assets.
Our operations from continuing activities in 2005 and going forward in 2006
consist of activities related to our investment in income producing real estate
properties that are focused on the hospitality, tourism and leisure travel
industry primarily in China.

RESULTS OF CONTINUING OPERATIONS
REVENUES
Prior to the reorganization the Company had no revenue. After taking into
consideration of the acquisition of 501 Canada Inc. we had revenues of $636,167
compared to revenues of $672,257 in 2004.  This increase is primarily as a
result of the acquisition of the business of 501 Canada Inc. through our wholly
owned subsidiary Empire Global Acquisition Corp. We are attempting to establish
sources of revenue for future periods by maximizing our investment and return
on our new acquisition of commercial real estate properties in Toronto and
China. We sold or disposed of our holdings of IMM Investments Inc. to Blazing
Holdings for $3,000,000 paid for by a secured promissory note with interest
that becomes due and payable in a balloon payment on June 17, 2010.

EXPENSES
General and administrative expenses increased from $814,182 in 2004 to
to $1,202,907 in 2005, an increase of $388,725, or 47.7%. The increase in
general and administrative expense results from the following:

During 2005, the Company acquired a second property at 3025 Kennedy Rd. in
Toronto, Ontario. As a result the mortgage interest costs increased from
$252,307 in 2004 to $500,574 in 2005. This added mortgage accounts for the
significant increase in the expenses of the Company. The Company also made a
significant investment in research and studies for new business development.
The company examined the plan of business development and took the position
that the near term prospect of generating income or profits were tertiary at
best. Since the company felt that raising funds would be very costly to both
the shareholders and the Company, Management initiated an aggressive campaign
to study trends of markets that show promise of immediate income with
exceptional long term growth opportunity.

During 2004, the Company completed a share exchange and acquired the shares of
IMM making IMM a wholly owned subsidiary of the Company, the assets acquired in
this transaction were passive equity holdings in a mining company in Northern
Ontario. The Company was not directly involved in the management or operations
of the mining company, therefore our entire staff consisted of three unpaid
executives who did not receive compensation and three contract persons that
provided periodic services for regulatory filings, general office
administration and investor relations. In 2005, the Company put an extensive
effort into exploring opportunities to bring into the Company. As a result of
these efforts the Company reached agreements to acquire both 501 Canada Inc. as
well as Excel Empire Limited.

                                      29
<PAGE>

During 2005, we issued 884,960 shares (post two separate 1 for 10 reverse
splits) restricted common shares to accredited investors, in exchange for the
elimination of $831,050 of recorded expenses.

Year over year, we also had increases in legal and accounting professional
expenses from $20,843 in 2004 to $95,949 in 2005, an increase of $75,106 to
reflect the increase in business development activity.

LIABILITIES
Our current liabilities increased by $186,187 from $731,659 in 2004 to $917,846
in 2005. During 2005, we acquired 501 Canada Inc., pursuant to the acquisition
of the 501 assets the Company agreed to assume the mortgages and outstanding
liabilities attributed to the assts being acquired. Therefore the current
liabilities take into consideration the increase in mortgage obligations
payable as described elsewhere in this report on the two commercial properties
acquired.

As of December 31, 2005 there are two regular mortgages, and two second
mortgages that have been assumed by the Company as follows: on 501 Alliance
Ave, Toronto, Ontario a first mortgage payable to DUCA Financial that bears
interest at 7.25% per annum with a year end balance of $3,816,855 and due
September 30, 2008 and a second mortgage that bears interest at 12% per annum
with a year end balance of $1,719,700 and due May 30, 2007; on 3025 Kennedy
Rd., Scarborough, Ontario a first mortgage payable to HSBC that bears interest
at prime plus 1% per annum with a year end balance of $1,299,540 and due May 6,
2025, and a second mortgage that bears interest at 9% per annum with a year end
balance of $171,970 and due May 19, 2007. Principal and interest are due
monthly on each of the first mortgages while interest only payments are due
monthly on the second mortgages.

Mortgages payable (in thousands) consist of the following at December 31, 2005:

Mortgages and Notes
  secured by real estate   Mortgage Due Date   Interest Rate   Year End Balance

501 Alliance Ave.
Duca Financial            September 30, 2008           7.25%       $  3,816,855
Epireon Financial               May 30, 2008          12.00%          1,719,700

3025 Kennedy Rd.
HSBC                             May 6, 2025      Prime + 1%       $  1,299,540
Sheldon Gross                   May 19, 2007              9%            171,970

Total Mortgages Payable
  (at year end):                                                   $  7,008,065


CASH FLOWS
Cash flows provided by operations in 2005 relate primarily to monies received
from rental income from the commercial properties owned and operated by 501
Canada Inc. which are included in changes in assets and liabilities. Cash flows
from operations in 2004 totaled $231,201, compared to cash flows used in
operations of $422,058 in 2005. Operating activities are primarily attributable
to the operating expenses related to the property and real estate interests
that the Company acquired or pursued.

Cash flows used in investing activities totaled $2,882,872 in 2005 compared to
cash flows used in investing activities of $268,412 in 2004. The funds were
used to acquire revenue producing real estate to add to the 501 real estate
portfolio and to purchase minor office equipment.

                                      30
<PAGE>

Cash from financing activities totaled $3,567,334 in 2005 compared to cash
flows from financing activities in 2004 of $39,697. In 2005, in addition to
divesting itself of its holdings in IMM Investments Inc. in exchange for a
Promissory Note in the amount of $3,000,000, the company merged with 501 Canada
Inc. thus assuming mortgages that were acquired for financing the purchase of
revenue producing real estate. The mortgages make up the majority of the cash
flows from financing activities.

RESULTS OF DISCONTINUED OPERATIONS
During 2004, we operated all of our subsidiaries as continuing operations.
During 2005, we divested our holdings in IMM, and we failed in our attempt to
acquire certain technology company interests. As of December 31, 2005, we
reorganized the operations of all of our subsidiaries, and these subsidiaries
will be operating entities.

Following is a discussion of the results of the Company's divestment in the
operations of IMM Investments Inc. formerly a wholly owned subsidiary of the
Company, which are detailed in Note 4 to the Consolidated Financial Statements.

In June 2005, the Company determined that its holdings in IMM and Montebello
would be re-evaluated as to their suitability within our business strategy.
Management concluded that the investment in IMM was unproductive and had only a
tertiary chance at best of becoming a profitable venture. Therefore, on
June 17, 2005, the Company entered into an Agreement of Purchase and Sale of
Stock to divest its holdings of IMM to Blazing Holdings Inc. an Ontario
Corporation, pursuant to which it sold all of the issued and outstanding
capital stock of IMM Investments, Inc., its wholly-owned subsidiary, to Blazing
Holdings, Inc. for $3,000,000 paid by delivery of a secured promissory note
having a maturity date of June 30, 2010 (the "IMM Agreement"). On the same day,
the Company entered into an Agreement of Purchase and Sale of Stock with
Brookstreet Capital Corp. a Delaware Corporation pursuant to which it sold all
of the issued and outstanding capital stock of Montebello Developments Corp.,
its wholly-owned subsidiary, to Brookstreet Capital Corp. for $250,000 paid by
delivery of a secured promissory note having a maturity date of June 30, 2010.
(the "Montebello Agreement")

On September 29, 2005, the Company received written notice that Brookstreet
Capital Corp. would not be able to make the first interest payment on its
promissory note due on September 30, 2005. The Montebello Agreement contained
clauses where delivery of such notice was deemed an "Event of Default". Upon
receipt of the above notice, the Board of Directors of the Company, at a
Special Meeting held on September 29, 2005, formally approved the decision by
Management of the Company to terminate the Montebello Agreement with
Brookstreet Capital Corp. At the same Special Meeting held on September 29,
2005, the Board of Directors of the Company formally approved the decision by
Management of the Company to amend the Promissory Note of the IMM Agreement
whereby Blazing Holding Inc. will be allowed to accrue its interest due to the
Company until the maturity date of its Note Payable on June 17, 2010.  Also, it
was agreed that the interest rate charged shall be the fixed at the prime rate
charged at 8:00 a.m. EST on June 17, 2005 by Citibank, N.A. at its principal
office (the "IMM Amendment")

LIQUIDITY AND CAPITAL RESOURCES
As of December 31, 2005, the Company had total assets of $9,954,704 and
liabilities of $8,237,629. The net asset value increase is primarily due to a
gain realized from the sale of our holdings in IMM for a Promissory note issued
by Blazing Holdings in exchange for IMM. Although the sale occurred and was
realized in 2005 the note becomes due and payable with accrued interest in a
balloon payment on June 17, 2010. Since the financial benefit may only be
realized at maturity, the Company must continue to raise capital in order to
service its day to day operational expenses.

                                      31
<PAGE>

We will need to raise significant additional operating capital to finance our
operations and to acquire sources of operating revenues. Due to our poor
financial condition, raising capital will be very difficult and expensive.

During 2005, our Board of Directors authorized the issuance of 1,000,000 (post
1 for 10 reverse split) shares of common stock as compensation to various
individuals for services rendered to the Company. All the shares were issued
pursuant to the S-8 Registration Statement of the Company. The shares were
issued as compensation to employees, consultants, and advisors to the Company
due to the lack of cash flow from the Company's operations and to retain the
services and provide timely payment of obligations to those individuals.

IMPACT OF INFLATION
General price inflation is not anticipated to have a material effect on the
Company's business in the near future. Historical dollar accounting does not
reflect changing costs of operations, the future cost of expansion and the
changing purchasing power of the dollar. Should more than moderate inflation
occur in the future, it can be expected to impact the Company in an adverse
manner, as prices cannot be adjusted quickly due to the contractual nature of a
substantial amount of the Company's business, while costs of personnel,
materials and other purchases tend to escalate rapidly.

FOREIGN EXCHANGE
The functional and reporting currency of the Company is the U.S. dollar, while
the functional and reporting currency for Empire Global Acquisition Corp., a
wholly-owned Canadian subsidiary, is the Canadian dollar. Accordingly, the
Company is exposed to foreign currency translation gains or losses as the
relationship between the Canadian dollar and United States dollar fluctuates.
Increases in the value of the Canadian dollar against the U.S. dollar will
result in foreign exchange transaction gains and decreases in the value of the
Canadian dollar will result in foreign exchange transaction losses. Other than
for revenues from leases earned by Empire Global Acquisition Corp. in Canada,
all other transactions involving the Company are generally denominated in U.S.
dollars. (See Note 3(i) of Notes to Consolidated Financial Statements).

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
See Note 3(m) "Recently Accounting Pronouncements" of Notes to Consolidated
Financial Statements.

EVENTS SUBSEQUENT TO THE BALANCE SHEET DATE
On November 4, 2005, the Company entered into a Plan of Merger and
Reorganization with Excel Empire Limited ("Excel") (the "Excel Plan"), a
British Virgin Islands corporation, to acquire a 100% interest in Excel.
Pursuant to the Excel Plan, Excel has agreed to merge into the Company. On
completion, the shareholders of Excel will be issued a total of 36,400,000
restricted shares of Company common stock in exchange for 100% of the issued
and outstanding stock of Excel.

Excel owns and operates a commercial complex in Jiaozuo City in Henan Province
of China. Construction of two structures began in 2003 on a 31 acre site; a 6
storey shopping plaza (the "Plaza") with approximately 737,289 square ft of
retail space and a 25 storey 5-star rated hotel (the "Hotel"). The Plaza opened
in November 2004 while, the Hotel construction is approximately 90% complete
and is scheduled to open in mid 2006. During 2004, Excel leased approximately
85% of available retail floor space in the Plaza. Among other key brands and
nationally recognized retailers in China, anchor tenants such as McDonalds,
Kentucky Fried Chicken, Hugo Boss as well as cosmetics chains such as L'Oreal
and Revlon are the main draw to the complex. The Hotel will be managed under a
ten year management agreement by Days Hotel and Suites. In addition to the
commercial complex, the Company through its' subsidiary Excel will also acquire
an option on a 150 acre parcel of land within a few kilometers from the
complex. The Company intends to evaluate the investment potential of the

                                      32
<PAGE>

property by engaging a consulting firm to conduct a feasibility study among
other typical research and development studies to examine the viability of
developing the project.

ABILITY TO CONTINUE AS A GOING CONCERN
Our ability to continue as a going concern is in doubt. We currently have no
sources of significant operating revenues. We have incurred losses from our
operations in each of the last two years. Our financial condition and low stock
price make raising capital difficult and expensive. In order to continue as a
going concern, we need to substantially decrease operating expenses, increase
operating income, and raise significant additional capital.

There is no assurance that we will be able to accomplish all or any of these
items. In the event that these events do not take place, we will in all
probability not be able to continue as a going concern in calendar year 2006.


































                                      33
<PAGE>

ITEM 7. FINANCIAL STATEMENTS
----------------------------















                               EMPIRE GLOBAL CORP.
                      (FORMERLY TRADESTREAM GLOBAL CORP.)


                       CONSOLIDATED FINANCIAL STATEMENTS

                    YEARS ENDED DECEMBER 31, 2005 AND 2004

                       (STATED IN UNITED STATES DOLLARS)





                                  CONTENTS


Report of Independent Registered Public Accounting Firm                     F1

Consolidated Balance Sheets                                                 F2

Consolidated Statements of Operations and Comprehensive Loss                F3

Consolidated Statements of Stockholders' Deficit                            F4

Consolidated Statements of Cash Flows                                       F5

Notes to Consolidated Financial Statements                            F6 - F17














                                      34
<PAGE>

            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors and Stockholders of
Empire Global Corp.

     We have audited the accompanying consolidated balance sheets of Empire
Global Corp. (Formerly Tradestream Global Corp.) as at December 31, 2005 and
2004 and the related consolidated statements of operations and comprehensive
loss, stockholders' equity (deficit) and cash flows for the years then ended.
These financial statements are the responsibility of the Company's management.
Our responsibility is to express an opinion on these consolidated financial
statements based on our audits.

     We conducted our audits in accordance with the standards of the Public
Company Accounting Oversight Board (United States).  Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.  An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe our audits
provide a reasonable basis for our opinion.

     In our opinion, the consolidated financial statements referred to above
present fairly, in all material respects, the financial position of Empire
Global Corp. (Formerly Tradestream Global Corp.) as at December 31, 2005 and
2004 and the results of its operations and cash flows for the years then ended
in conformity with accounting principles generally accepted in the United
States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 2 to the
financial statements the Company has suffered recurring losses from operations
and has negative working capital that raise substantial doubt about its ability
to continue as a going concern. Management's plans regarding these matters are
also described in Note 2. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.




                                    /s/ SF PARTNERSHIP, LLP


Toronto, Canada                     CHARTERED ACCOUNTANTS
April 14, 2006

                                    - F1 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Consolidated Balance Sheets
December 31, 2005 and 2004
(Stated in United States Dollars)

                                                           2005           2004

                                    ASSETS

Current
   Cash                                            $    274,186   $     24,536
   Short term investments                                68,869         56,032
   Accounts receivable                                   11,449           -
   Prepaid and sundry assets                             69,930         19,464
                                                   ------------   ------------
Total Current Assets                                    424,434        100,032
                                                   ------------   ------------
Revenue Producing Real Estates (note 4)               6,312,023      3,627,513
Equipments (note 5)                                      21,610          3,486
Deferred Finance Charges (note 6)                       143,038         88,152
Advances to Related Companies (note 7)                    8,599        351,979
Notes Receivable (note 9)                             3,045,000           -
                                                   ------------   ------------
Total Long term Assets                                9,530,270      4,071,130
                                                   ------------   ------------
Total Assets                                       $  9,954,704   $  4,171,162
                                                   ============   ============

                                  LIABILITIES

Current
   Bank indebtedness (note 10)                     $    127,034   $     83,457
   Accounts payable and accrued liabilities             210,476        171,027
   Loan payable from a related party (note 11)          458,235        409,632
   Mortgage payable - current portion (note 12)         104,420         62,517
   Income taxes payable                                    -             5,026
   Advances from related party (note 8)                  17,681           -
                                                   ------------   ------------
Total Current Liabilities                               917,846        731,659
                                                   ------------   ------------
Mortgage Payable (note 12)                            6,903,645      3,693,618
Future Income Taxes (note 13)                           416,138          5,982
                                                   ------------   ------------
Total Long Term Liabilities                           7,319,783      3,699,600
                                                   ------------   ------------
Total Liabilities                                     8,237,629      4,431,259
                                                   ------------   ------------
Commitments and Contingencies  (note 14)

                            SHAREHOLDERS' DEFICIT

Preferred Stock, $0.0001 par value, 20,000,000
   shares authorized, no share issued and
   outstanding.
Capital Stock, $0.00001 par value, 400,000,000
   shares authorized, 6,985,867 shares issued and
   outstanding (2004 - 574,980)                              70             67
Additional Paid in Capital                            2,593,545           -
Accumulated Other Comprehensive Loss                    (24,884)       (39,326)
Deficit                                                (851,656)      (220,838)
                                                   ------------   ------------
Total Stockholders' Deficit                           1,717,075       (260,097)
                                                   ------------   ------------
Total Liabilities and Stockholders' Deficit        $  9,954,704   $  4,171,162

                (The accompanying notes are an integral part
                 of these consolidated financial statements)

                                    - F2 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Consolidated Statement of Operations and Comprehensive Loss
Year Ended December 31, 2005 and 2004
(Stated in United States Dollars)

                                                           2005           2004
Revenue
   Rent                                            $    636,167   $    650,745
   Property management fees                                -            21,512
                                                   ------------   ------------
                                                        636,167        672,257
                                                   ------------   ------------
Expenses
   Mortgage interest                                    500,574        252,307
   Property taxes                                       151,093        122,600
   Utilities                                            137,387        238,077
   Professional fees                                     95,949         20,843
   Repairs and maintenance                               56,406         30,425
   Insurance                                             45,134         37,619
   Office and general                                    40,071         13,356
   Salaries and wages                                    26,377          7,169
   Vehicle                                               21,060         18,587
   Bank charges and interest                             17,048          6,634
   Travel and entertainment                               9,748           -
   Amortization                                         102,060         66,565
                                                   ------------   ------------

Total Expense                                         1,202,907        814,182
                                                   ------------   ------------

Loss Before Undernoted items and Income Taxes          (566,740)      (141,925)
   Loss on disposal of property                         (64,078)          -
                                                   ------------   ------------

Loss Before Income Tax                                 (630,818)      (141,925)

   Deferred income taxes                                   -             2,843
                                                   ------------   ------------

Net Loss                                               (630,818)      (144,768)
   Foreign currency translation  adjustment              14,442        (18,880)
                                                   ------------   ------------

Comprehensive Loss                                 $   (616,376)  $   (163,648)
                                                   ============   ============

Basic and Fully Diluted (Loss) Earnings Per Share  $      (0.44)  $      (0.03)
                                                   ============   ============
Basic and Fully Diluted Weighted Average Number
   of Shares                                          1,402,695      6,240,000
                                                   ============   ============

                (The accompanying notes are an integral part
                 of these consolidated financial statements)

                                    - F3 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Consolidated Statements of Stockholders' Deficit
Year ended December 31, 2005 and 2004
(Stated in United States Dollars)

<TABLE>
<CAPTION>
                                                                                Accumulated
                                                       Common    Additional           Other                         Total
                                                        Stock       Paid-In   Comprehensive   Accumulated   Stockholders'
                                         Shares     Par Value       Capital          Income       Deficit          Equity
                                    -------------------------------------------------------------------------------------
<S>                                 <c>           <c>           <c>           <c>             <c>           <c>

Balance - January 1, 2004               574,980   $         6   $        61   $     (20,446)  $   (76,070)  $     (96,449)

  Foreign exchange on translation
    adjustment                             -             -             -            (18,880)         -            (18,880)

  Net loss for the period                  -             -             -               -         (144,768)       (144,768)
                                    -------------------------------------------------------------------------------------

Balance - December 31, 2004             574,980   $         6   $        61   $     (39,326)  $  (220,838)  $    (260,097)

  Shares issued for debt              2,088,720   $        21   $       (21)  $        -      $      -      $        -

  10 for 1 reverse stock split       (1,879,848)          (19)           19            -             -               -

  Shares issued for services          1,000,000            10           (10)           -             -               -

  Shares issued for debt                500,000             5            (5)           -             -               -

  10 for 1 reverse stock split       (1,537,985)          (15)           15            -             -               -

  Shares issued on acquisition of
    501 Canada Inc.                   6,240,000            62     2,593,486            -             -          2,593,548

  Foreign exchange translation
    adjustment                             -             -             -             14,442          -             14,442

  Net loss for the period                  -             -             -               -         (630,818)       (630,818)

                                    -------------------------------------------------------------------------------------
Balance - December 31, 2005           6,985,867   $        70   $ 2,593,545   $     (24,884)  $  (851,656)  $   1,717,075
                                    =====================================================================================
</TABLE>














                (The accompanying notes are an integral part
                 of these consolidated financial statements)

                                    - F4 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Consolidated Statement of Cash Flows
Year Ended December 31, 2005 and 2004
(Stated in United States Dollars)

                                                           2005           2004
Cash Flows from Operating Activities
   Net loss                                        $   (630,818)  $   (144,768)
      Adjustments to reconcile net loss to net
         cash used in operating activities
      Amortization                                      102,060         66,565
      Deficit of acquired subsidiary                     70,114           -
      Loss on disposal of revenue producing
         property                                        64,078           -
      Future income taxes                                  -             2,843
      Accounts receivable                               (11,449)       116,070
      Prepaid and sundry assets                         (50,466)       134,843
      Deferred financing charge                            -            15,847
      Accounts payable and accrued charges               39,449         40,007
      Income taxes payable                               (5,026)          (206)
                                                   ------------   ------------
   Net cash from (used in) operating activities        (422,058)       231,201
                                                   ------------   ------------

Cash Flows from Investing Activities
      Purchase of 501 Alliance Avenue                  (699,416)      (267,978)
      Purchase of 3025 Kennedy Road                  (2,743,242)          -
      Purchase of equipment                             (23,214)          (434)
      Proceeds from sale of revenue producing
         property                                       583,000           -
                                                   ------------   ------------
   Net cash used in investing activities             (2,882,872)      (268,412)
                                                   ------------   ------------

Cash Flows from Financing Activities
      Bank indebtedness                                  43,577          4,304
      Advances from shareholder                          48,603          4,308
      Mortgage payable                                3,251,930        209,602
      Short term investments                            (12,837)        (4,930)
      Payments of deferred financing costs             (125,000)          -
      Advances from related parties                     343,380       (173,587)
      Decrease in accrued interest payable               17,681           -
                                                   ------------   ------------
   Net cash from financing activities                 3,567,334         39,697
                                                   ------------   ------------
Net Increase in Cash                                    262,404          2,486
Foreign Exchange                                        (12,754)         1,325

Cash and Cash Equivalents - beginning of year            24,536         20,725
                                                   ------------   ------------
Cash and Cash Equivalents - end of year            $    274,186   $     24,536
                                                   ============   ============

Supplemental Disclosure of Cash Flow Information:
   Cash paid during the year for:
      Interest paid                                $    627,170   $    337,031
                                                   ============   ============
      Income taxes (recovered) paid                $       -      $        712
                                                   ============   ============

                (The accompanying notes are an integral part
                 of these consolidated financial statements)

                                    - F5 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


1.   Nature of Business and Operations

Effective November 17, 2005 Empire Global, Corp. ("Empire" or the "Company")
entered into a merger agreement whereby Empire, through its wholly owned
subsidiary, Empire Global Acquisition Corp ("EGAC"), acquired 100% of 501
Canada Inc. ("501 Company") using exchangeable shares of EGAC. Empire acquired
501 Company by issuing an additional 6,240,000 restricted shares of Empire in
exchange for shares of EGAC held by the 501 Company. The substance of Empire's
share issuance and the proposed reorganization is a transaction which results
in 501 Company becoming a listed public entity through 501 Company's reverse
merger of Empire's net assets and 501 Company's recapitalization.

The Company owns:

a)  rental property at 501 Alliance Avenue in Toronto, Ontario, Canada
b)  four commercial rental condominium units at 3025 Kennedy Road, Toronto,
    Ontario, Canada


2.   Going Concern

These consolidated financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of America with
the assumption that the Company will be able to realize its assets and
discharge its liabilities in the normal course of business.

The Company has incurred continuing losses amounting to 630,818 (2004 -
144,768). The Company's continuation as a going concern is uncertain and
dependant upon obtaining additional sources of financing to sustain its
operations and achieving future profitable operations, the outcome of which
cannot be predicted at this time. In the event the Company cannot obtain the
necessary funds, it will be unlikely that the Company will be able to continue
as a going concern. The Company is planning to execute private placements to
generate cash flow to sustain its current and future operations.

The consolidated financial statements do not include any adjustments to reflect
the possible future effects on the recoverability and classification of assets
or the amounts and classification of liabilities that may result from the
possible inability of the Company to continue as a going concern.







                                    - F6 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


3.   Summary of Significant Accounting Policies

a)   Basis of Financial Statement Presentation

     The reverse merger between the Company and 501 Canada Inc. has been
     recorded as a recapitalization of the Company, with the net assets of the
     Company brought forward at their historical basis. Management does not
     intend to pursue the business of the Company and accordingly has changed
     the nature of the business as described in Note 1. As such, accounting for
     the merger as a recapitalization of the Company is deemed appropriate.

     The weighted average and total number of shares outstanding have been
     retroactively restated for each period to reflect the number of shares
     issued to shareholders of the subsidiary at acquisition.

     These consolidated financial statements include the accounts of the
     Company and its wholly owned subsidiaries EGAC, Montebello Developments
     Corp., and 501 Canada Inc.  All significant intercompany transactions
     have been eliminated upon consolidation.

b)   Cash and Cash Equivalents

     Cash and cash equivalents consist of cash on hand and cash deposited with
     financial institutions, including money market accounts, and commercial
     paper purchased with an original maturity of three months or less.

c)   Use of Estimates

     In preparing the Company's financial statements, management is required to
     make estimates and assumptions that affect the reported amounts of assets
     and liabilities and the disclosures of contingent assets and liabilities at
     the date of the financial statements, and the reported amounts of revenue
     and expenses during the reporting periods.  Actual results could differ
     from those estimates.

d)   Revenue Producing Real Estate, Equipment and Amortization

     Revenue Producing Real Estate and Equipment are stated at cost less
     accumulated amortization. Amortization, based on the estimated useful
     lives of the assets, is provided as follows:

                Buildings          2.5%         Straight line
                Equipment         20.0%         Declining balance

e)   Deferred Finance Charges

     Costs incurred in connection with obtaining the mortgages for the
     properties as described in Note 4 are amortized  over the terms of the
     mortgages with the corresponding charges reflected in the statement of
     operations and comprehensive loss.

                                    - F7 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


3.   Summary of Significant Accounting Policies (cont'd)

f)   Income Taxes

     The Company accounts for income taxes pursuant to SFAS No. 109, "Accounting
     for Income Taxes".  Deferred tax assets and liabilities are recorded for
     differences between the financial statement and tax basis of the assets
     and liabilities that will result in taxable or deductible amounts in the
     future based on enacted tax laws and rates.  Valuation allowances are
     established when necessary to reduce deferred tax assets to the amount
     expected to be realized.  Income tax expense is recorded for the amount of
     income tax payable or refundable for the period increased or decreased by
     the change in deferred tax assets and liabilities during the period.

g)   Impairment of Long Lived Assets

     In accordance with SFAS No. 144, "Accounting for the Impairment or Disposal
     of Long Lived Assets", long lived assets to be held and used are analysed
     for impairment whenever events or changes in circumstances indicate that
     the related carrying amounts may not be recoverable. The Company evaluates
     at each balance sheet date whether events and circumstances have occurred
     that indicate possible impairment. If there are indications of impairment,
     the Company uses future undiscounted cash flows of the related asset or
     asset grouping over the remaining life in measuring whether the assets are
     recoverable. In the event such cash flows are not expected to be sufficient
     to recover the recorded asset values, the assets are written down to their
     estimated fair value. Long lived assets to be disposed of are reported at
     the lower of carrying amount or fair value of asset less cost to sell.

h)   Fair Value of Financial Instruments

     The carrying value of the Company's short term investments, prepaid and
     sundry assets, sundry receivables, bank indebtedness, accounts payable and
     accrued charges, and advances from shareholder approximate fair value
     because of the short term maturity of these financial instruments.







                                    - F8 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


3.   Summary of Significant Accounting Policies (cont'd)

i)   Foreign Currency Translation

     The Company accounts for foreign currency translation pursuant to SFAS No.
     52, "Foreign Currency Translation". The Company's functional currency is
     the Canadian dollar. All assets and liabilities are translated into United
     States dollars using the current exchange rate. Revenues and expenses are
     translated using the average exchange rates prevailing throughout the year.
     Translation adjustments are included in other comprehensive income for the
     period.

j)   Comprehensive Income

     The Company adopted SFAS No. 130, "Reporting Comprehensive Income.", SFAS
     No. 130  establishes standards for reporting and presentation of
     comprehensive income and its components in a full set of financial
     statements.  Comprehensive income is presented in the statements of
     operations, and consists of net income and unrealised gains (losses) on
     available for sale marketable securities; foreign currency translation
     adjustments and changes in market value of future contracts that qualify as
     a hedge; and negative equity adjustments recognized in accordance with SFAS
     87.  SFAS No. 130 requires only additional disclosures in the financial
     statements and does not affect the Company's financial position or results
     of operations.

k)   Revenue Recognition

     The Company has retained substantially all of the risks and benefits of
     ownership of its rental properties and therefore accounts for leases with
     its tenants as operating leases. The total amount of contractual rent to be
     received from operating leases is recognized on a straight line basis over
     the term of the lease when collection is assured; a receivable is recorded
     for the difference between the rental revenue recorded and the contractual
     amount received.

l)   Concentration of Credit Risk

     SFAS No. 105, "Disclosure of Information About Financial Instruments with
     Off Balance Sheet Risk and Financial Instruments with Concentration of
     Credit Risk", requires disclosure of any significant off balance sheet risk
     and credit risk concentration.  The Company does not have significant off
     balance sheet risk or credit concentration.

m)   Recent Accounting Pronouncements

     In March 2005, the FASB issued FASB Staff Position ("FSP") No. 46(R) 5,
     "Implicit Variable Interests under FASB Interpretation No. ("FIN") 46
     (revised December 2003), Consolidation of Variable Interest Entities" ("FSP
     FIN 46R 5"). FSP FIN 46R 5 provides guidance for a reporting enterprise on
     whether it holds an implicit variable interest in Variable Interest
     Entities ("VIEs") or potential VIEs when specific conditions exist. This
     FSP is effective in the first period beginning after March 3, 2005 in
     accordance with the transition provisions of FIN 46 (revised December
     2003), "Consolidation of Variable Interest Entities   an Interpretation of
     Accounting Research Bulletin No. 51" ("FIN 46R"). The adoption of FSP FIN
     46R 5 in 2005 did not have an impact on the Company's results of
     operations and financial position.


                                    - F9 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


3.   Summary of Significant Accounting Policies (cont'd)

m)   Recent Accounting Pronouncements (cont'd)

     In March 2005, the FASB issued Interpretation No. 47, "Accounting for
     Conditional Asset Retirement Obligations" ("FIN 47"), which will result in
     (1) more consistent recognition of liabilities relating to asset retirement
     obligations, (2) more information about expected future cash outflows
     associated with those obligations, and (3) more information about
     investments in long lived assets because additional asset retirement costs
     will be recognized as part of the carrying amounts of the assets. FIN 47
     clarifies that the term "conditional asset retirement obligation" as used
     in SFAS No. 143, "Accounting for Asset Retirement Obligations", refers to a
     legal obligation to perform an asset retirement activity in which the
     timing and/or method of settlement are conditional on a future event that
     may or may not be within the control of the entity. The obligation to
     perform the asset retirement activity is unconditional even though
     uncertainty exists about the timing and/or method of settlement.
     Uncertainty about the timing and/or method of settlement of a conditional
     asset retirement obligation should be factored into the measurement of the
     liability when sufficient information exists. FIN 47 also clarifies when an
     entity would have sufficient information to reasonably estimate the fair
     value of an asset retirement obligation. FIN 47 is effective no later than
     the end of fiscal years ending after December 15, 2005. The adoption of FIN
     47 in 2005 did not have a material impact on the financial position or
     results of operations of the Company.

     In May 2005, the FASB issued SFAS No. 154, "Accounting Changes and Error
     Corrections", which replaces APB Opinion No. 20, "Accounting Changes", and
     SFAS No. 3, "Reporting Accounting Changes in Interim Financial Statements
     An Amendment of APB Opinion No. 28". SFAS No. 154 provides guidance on the
     accounting for and reporting of changes in accounting principles and error
     corrections. SFAS No. 154 requires retrospective application to prior
     period financial statements of voluntary changes in accounting principle
     and changes required by new accounting standards when the standard does not
     include specific transition provisions, unless it is impracticable to do
     so. SFAS No. 154 also requires certain disclosures for restatements due to
     correction of an error. SFAS No. 154 is effective for accounting changes
     and corrections of errors made in fiscal years beginning after December 15,
     2005, and is required to be adopted by the Company as of January 1, 2006.
     The impact that the adoption of SFAS No. 154 will have on the Company's
     results of operations and financial condition will depend on the nature of
     future accounting changes adopted by the Company and the nature of
     transitional guidance provided in future accounting pronouncements.




                                    - F10 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


4.   Revenue Producing Real Estate

                                              2005                        2004
                                       Accumulated                 Accumulated
                                Cost  Amortization          Cost  Amortization
                        ------------------------------------------------------
501 Alliance Avenue,
Toronto, Ontario, Canada
   Building             $  3,530,488  $    368,517  $  2,867,385  $    278,372
   Land                    1,074,813          -        1,038,500          -

3025 Kennedy Road,
Toronto, Ontario, Canada
   Building                1,257,810        20,925          -             -
   Land                      838,354          -             -             -
                        ------------------------------------------------------

                        $  6,701,465  $    389,442  $  3,905,885  $    278,372
                        ------------------------------------------------------

Net carrying amount                   $  6,312,023                $  3,627,513
                                      ------------                ------------


5.   Equipment

                                              2005                        2004
                                       Accumulated                 Accumulated
                                Cost  Amortization          Cost  Amortization
                        ------------------------------------------------------

Equipment               $     29,537  $      7,927  $      6,323  $      2,837
                        ------------------------------------------------------

Net carrying amount                   $     21,610                $      3,486
                                      ------------                ------------


6.   Deferred Finance Charges

                                              2005                        2004
                                       Accumulated                 Accumulated
                                Cost  Amortization          Cost  Amortization
                        ------------------------------------------------------
Deferred Finance
   Charges              $    242,537  $     99,499  $    117,537  $     29,385
                        ------------------------------------------------------

Net carrying amount                   $    143,038                $     88,152
                                      ------------                ------------



                                    - F11 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


7.   Advances from Related Companies

Advances due from related parties are non interest bearing and are due on
demand.

                                                           2005           2004

Advances from related parties:
   Sunwin Real Estate Development Co. Ltd          $      8,599   $       -
   1324184 Ontario Inc.                                    -           132,368
   CLY Co Ltd                                              -             3,030
   Cambridge Education Group                               -           216,581
                                                   ------------   ------------

                                                   $      8,599   $    351,979
                                                   ============   ============


8. 	Advances to Related Companies

Advances due to related parties:
   Advances due to stockholders and directors
      of the Company                               $     17,681   $       -
                                                   ============   ============


9.   Notes Receivable

On June 17, 2005, the Company entered into an Agreement of Purchase and Sale of
Stock to divest its holdings of IMM to Blazing Holdings Inc. an Ontario
Corporation, pursuant to which it sold all of the issued and outstanding
capital stock of IMM Investments, Inc., its wholly-owned subsidiary, to Blazing
Holdings, Inc. for $3,000,000 paid by delivery of a secured promissory note
having a maturity date of June 30, 2010 (the "IMM Agreement").  The promissory
note is secured by the issued and outstanding shares of IMM Investments, Inc.

At a Special Meeting held on September 29, 2005, the Board of Directors of the
Company formally approved the decision by Management of the Company to amend
the Promissory Note of the IMM Agreement whereby Blazing Holding Inc. will be
allowed to accrue its interest due to the Company until the maturity date of
its Note Payable on June 17, 2010.  Also, it was agreed that the interest rate
charged shall be the fixed at the prime rate charged at 8:00 a.m. EST on June
17, 2005 by Citibank, N.A. at its principal office (the "IMM Amendment")



                                    - F12 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


9.   Notes Receivable (cont'd)

Notes receivable from the purchaser of the subsidiary is as follows:

                                                           2005           2004

Blazing Holdings, Inc                              $  3,000,000   $       -
Interest receivable on note                              45,000           -
                                                   ------------   ------------

                                                   $  3,045,000   $       -
                                                   ============   ============


10.  Bank Indebtedness

The Company has available a bank demand operating facility to a maximum of
$85,985 USD, bearing interest at prime rate plus 1%, and secured by a general
security agreement and personal guarantees from one of the shareholders.  As at
December 31, 2005, the company was using $127,034 USD ($83,495 USD at December
31, 2004) of the line of credit.

In addition to the demand operating facility, the Company has a $25,796 USD
letter of guarantee that has been used as security for utility contracts.


11.  Loan Payable from a Related Party

Loan payable to related party owed to shareholders of the Company and are
unsecured, non interest bearing and due on demand.








                                    - F13 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


12.  Mortgages Payable
                                                           2005           2004

DUCA Financial Services Credit Union mortgage,
   due on September 30, 2008, bearing interest
   at 7.25%, secured by the building and land
   situated at 501 Alliance Avenue, Toronto,
   Ontario, Canada as described in Note 4.         $  3,816,855   $  3,756,136
Epireon Capital Limited second mortgage, due on
   May 27, 2007,  bearing interest at 12%, secured
   by the building and land situated at 501
   Alliance Avenue, Toronto, Ontario, Canada as
   described in Note 4.  Included in Cash and Cash
   Equivalents are $213,888 of restricted funds
   obtained as part of the mortgage and used for
   renovations and leasehold purposes only.           1,719,700           -
HSBC Bank Canada mortgage , due on May 6, 2025
   bearing interest at  the bank's prime rate plus
   1% secured by the buildings and land situated
   at 3025 Kennedy Road, Toronto, Ontario as
   described in Note 4.                               1,299,540           -
Sheldon Gross Limited second mortgage, due on May
   19, 2007 bearing interest at 9% per annum
   secured by the buildings and land situated at
   3025 Kennedy Road, Toronto, Ontario as
   described in Note 4.                                 171,970           -
                                                   ------------   ------------

                                                      7,008,065      3,756,136
Current portion                                        (104,420)       (62,517)
                                                   ------------   ------------

Long-term portion                                  $  6,903,645   $  3,693,619
                                                   ============   ============


The annual payments of principal required over the next five years in respect
of these mortgages are as follows:

               2006                     $    104,420
               2007                        2,003,393
               2008                          119,602
               2009                          128,039
               2010                          134,618
               Thereafter                  4,517,993
                                        ------------

                                        $  7,008,065
                                        ------------

Two shareholders of the Company provided personal guarantees on the mortgages
for $6,717,024.



                                    - F14 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


13.  Income Taxes

The Company's income tax provision (recovery) has been calculated as follows:

                                                           2005           2004
                                                   ------------   ------------

Expected income tax recovery at statutory
   rates 36.12% (2004 - 19%)                       $   (227,851)       (26,966)
Gain on sale of investment of legal subsidiary         (399,884)          -
Loss on disposal of property                             23,145           -
Other                                                    68,192           -
Change in calculation allowance                         536,398         26,966
                                                   ------------   ------------

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

The following summarizes the principal temporary differences and related
future tax effect:

Revenue producing property                         $     21,704   $    169,587
Equipment                                                 8,937          7,097
Non capital losses                                      787,408        111,628
Net capital losses                                       14,022           -
                                                   ------------   ------------

                                                   $    832,071   $    288,312

Deferred financing costs                                (60,086)       (42,454)
Net capital gain                                       (399,884)          -
                                                   ------------   ------------

                                                       (459,970)       (42,454)

Valuation Allowance                                    (788,239)      (251,840)
                                                   ------------   ------------

                                                   $   (416,138)  $     (5,982)
                                                   ============   ============

14.  Commitments and Contingencies

     The Company is subject to claims arising in the ordinary course of
     business.  The Company and Management believe, after consultation with
     counsel, that the allegations against the Company included in the claims
     described below are subject to substantial legal defenses, and the Company
     is vigorously defending each of the allegations.  At this time, it is not
     possible to estimate the ultimate loss or gain, if any, related to these
     claims, nor if any such loss will have a material adverse effect on the
     Company's results of operations or financial position.

                                    - F15 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


14.  Commitments and Contingencies (cont'd)

On September 9, 2005, the Company was served with a Statement of Claim filed in
the Ontario Superior Court of Justice by Research Capital Corporation
("Research") a broker/dealer in Ontario claiming $100,000 in aggregate damages
plus interest and costs against 4 co respondents including the Company and a
former consultant of the Company.  The former consultant had opened a stock
trading account at Research (the "Research Customer") and proceeded to
knowingly sell shares of the Company that were subject to a Stop Transfer.
Research is claiming recovery of proceeds paid to the Research Customer through
early settlement as a result of sales of shares of the Company.  The Company
has filed a Statement of Defense and is vigorously defending the claim as it
believes that the Research Customer was made aware that a Stop Transfer was
placed on the shares delivered to the Research Customer.  The Company is of the
opinion that Research should not have sold the shares and paid an early
settlement to their customer until the shares had cleared through the Company's
transfer agent.  The Company is defending the claim and by way of counterclaim
is claiming recovery of the subject shares, the matter remains unresolved.

On November 1, 2005, the Company was served with a Statement of Claim filed in
the Ontario Superior Court of Justice by Advanced Refractive Technologies Inc.
("Advanced") claiming $6,000,000 in aggregate damages plus unspecified amounts
against 16 co respondents including the Company for unknown loses that Advanced
in its dealings with an unknown and unrelated entity or person (the "unrelated
entity").  Advanced alleges that this unrelated entity, in a private
transaction with Advanced, may have promised to exchange shares of the Company
that the unrelated entity had claimed to have owned.  The Company has never
been a party to any dealings with Advanced and prior to receiving notice from
Advanced had never heard of Advanced.  The Company denies any wrongdoing and is
vigorously defending this claim. Because of the uncertainties inherent in
litigation, the company cannot predict whether the outcome which remains
unresolved will have a material adverse affect.

On December 10, 2004, the Ontario Securities Commission ("OSC") served upon the
former President and C.E.O. of the Company (the "former executive"), and
companies controlled by the former executive, as well as another shareholder
of the Company and an unrelated party collectively the "respondents" an order
to cease trading in shares of the Company formerly known as Pender
International, Inc. (Pender).  The Company is aware of the proceedings;
however, is not a respondent to these proceedings.  The order was issued to
allow the OSC an opportunity to investigate trading in shares of Pender over
the period between October 27, 2004 and November 19, 2004. The OSC alleges that
the respondents may have been trading in shares of Pender in such a way to be
manipulative in nature and causing and artificial increase in the price of the
shares.  The respondents deny the allegations and have filed responding
materials contrary to the allegations.  The respondents and the Company have
been cooperating with the OSC and informal inquiries made by the United States
Securities and Exchange Commission ("SEC").  The investigation and inquiry
remains unresolved and is currently on going.

                                    - F16 -
<PAGE>

EMPIRE GLOBAL CORP.
(FORMERLY TRADESTREAM GLOBAL CORP.)
Notes to Consolidated Financial Statements
December 31, 2005 and 2004
(Stated in United States Dollars)


15.  Capital Stock

On June 27, 2005, the Company issued 2,088,720 shares in cancellation of debt
amounting to $208,702.

On June 30, 2005, the Company effected a 10 for 1 reverse stock split of the
company's issued and outstanding common shares.  The reverse stock split has
been retroactively presented in these financial statements.

On July 26, 2005, the Company issued 1,000,000 shares to third parties in
exchange for consulting services.

On July 27, 2005, the Company issued 500,000 shares in cancellation of debt
amounting to $150,000.

On September 30, 2005, the Company effected a 10 for 1 reverse stock split of
the Company's issued and outstanding common shares.  The reverse stock split
has been retroactively presented in these financial statements.

On November 17, 2005 the Company effected the Plan of Merger and Reorganization
Agreement with 501 Canada Inc., whereby the Company, through its wholly owned
subsidiary EGAC acquired 100% of the capital stock of 501 through the issuance
of exchangeable shares of EGAC, which were exchangeable for 6,240,000 Shares of
Common Stock of the Company as described in Note 1.


16.  Subsequent Events

On November 4, 2005, the Company entered into a Plan of Merger and
Reorganization with Excel Empire Limited ("Excel") (the "Excel Plan"), a
British Virgin Islands corporation, to acquire a 100% interest in Excel.
Pursuant to the Excel Plan, Excel has agreed to merge into the Company. On
completion, the shareholders of Excel will be issued a total of 36,400,000
restricted shares of the Company's common stock in exchange for 100% of the
issued and outstanding stock of Excel.

As of the date of this report the Plan of Merger and Reorganization with Excel
has not completed and is subject to certain conditions.





                                    - F17 -
<PAGE>

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
-----------------------------------------------------------------------

On March 3, 2005 the Company was notified that Beckstead and Watts, LLP (the
"Former Auditor") had resigned as the Company's principal independent auditor,
effective March 3, 2005 as they would be unable to complete the audit for the
fiscal year ended December 31, 2004 in a timely manner.  In connection with the
audits for the years ended December 31, 2003 and December 31, 2002, and the
subsequent interim period prior to the date of resignation, there were no
disagreements with the Former Auditor on any matter of accounting principals or
practices, financial statement disclosure, or auditing scope or procedure,
which disagreement(s), if not resolved to the satisfaction of the Former
Auditor, would have caused it to make references to the subject matter of the
disagreement(s) in connection with its reports on the financial statements for
such years (as discussed in Regulation S-B, Item 304(a)(1)(iv)).

The Company engaged the firm of SF Partnership, LLP (the "New Auditor") as its
principal independent auditor effective March 4, 2005, to act as its
independent auditor for the fiscal year ending December 31, 2004.  During the
two most recent fiscal years and the interim period preceding the appointment
of the New Auditor, the Company had not consulted the New Auditor regarding
either (i) the application of the accounting principles to a specified
transaction, either completed or proposed; or the type of audit opinion that
might be rendered on the Company's financial statements, and neither a written
report nor advice was provided to the Company that the New Auditor concluded
was an important factor considered by the Company in reaching a decision as to
the accounting of financial reporting issue; or (ii) any matter that was either
the subject of a disagreement or a reportable event (as defined in Regulation
S-B, Item 304(a)(1)(iv)).


ITEM 8A. CONTROLS AND PROCEDURES
--------------------------------

Annual Evaluation of Controls
As of the end of the period covered by this annual report on Form 10-KSB, the
Company evaluated the effectiveness of the design and operation of our
disclosure controls and procedures ("Disclosure Controls"). This evaluation
("Evaluation") was performed by Ken Chu, our Chief Executive Officer ("CEO")
and Chairman of the Board and Acting Principal Accounting Officer. In this
section, we present the conclusions of our CEO based on and as of the date of
the Evaluation, with respect to the effectiveness of our Disclosure Controls.

CEO Certifications
Attached as Exhibits to this annual report, are certain certifications of the
CEO, which are required in accordance with the Exchange Act and the
Commission's rules implementing such section (the "Rule 13a-14(a)/15d-14(a)
Certifications"). This section of the annual report contains the information
concerning the Evaluation referred to in the Rule 13a-14(a)/15d-14(a)
Certifications. This information should be read in conjunction with the Rule
13a-14(a)/15d-14(a) Certifications for a more complete understanding of the
topic presented.

Disclosure Controls
Disclosure Controls are procedures designed with the objective of ensuring
that information required to be disclosed in our reports filed with the
Commission under the Exchange Act, such as this annual report, is recorded,
processed, summarized and reported within the time period specified in the
Commission's rules and forms. Disclosure Controls are also designed with the
objective of ensuring that material information relating to the Company is made
known to the CEO by others, particularly during the period in which the
applicable report is being prepared.


                                      52
<PAGE>


Limitations on the Effectiveness of Disclosure Controls
Our management does not expect that our Disclosure Controls will prevent all
error and all fraud. A control system, no matter how well developed and
operated, can provide only reasonable, but not absolute assurance that the
objectives of the control system are met. Further, the design of the control
system must reflect the fact that there are resource constraints, and the
benefits of controls must be considered relative to their costs. Because of the
inherent limitations in all control systems, no evaluation of controls can
provide absolute assurance that all control issues and instances so of fraud,
if any, within the Company have been detected. These inherent limitations
include the realities that judgments in decision-making can be faulty, and that
breakdowns can occur because of simple error or mistake. Additionally, controls
can be circumvented by the individual acts of some persons, by collusion of two
or more people, or by management override of the control. The design of a
system of controls also is based in part upon certain assumptions about the
likelihood of future events, and there can be no assurance that any design will
succeed in achieving its stated objectives under all potential future
conditions. Over time, control may become inadequate because of changes in
conditions, or because the degree of compliance with the policies or procedures
may deteriorate. Because of the inherent limitations in a cost-effective
control system, misstatements due to error or fraud may occur and not be
detected.

Scope of the Evaluation
The CEO's evaluation of our Disclosure Controls included a review of the
controls' (i) objectives, (ii) design, (iii) implementation, and (iv) the
effect of the controls on the information generated for use in this annual
report. In the course of the Evaluation, the CEO sought to identify data
errors, control problems, acts of fraud, and they sought to confirm that
appropriate corrective action, including process improvements, was being
undertaken. This type of evaluation is done on a quarterly basis so that the
conclusions concerning the effectiveness of our controls can be reported in our
quarterly reports on Form 10-QSB and annual reports on Form 10-KSB. The overall
goals of these various evaluation activities are to monitor our Disclosure
Controls, and to make modifications if and as necessary. Our intent in this
regard is that the Disclosure Controls will be maintained as dynamic systems
that change (including improvements and corrections) as conditions warrant.

Conclusions
Based upon the Evaluation, our disclosure controls and procedures are designed
to provide reasonable assurance of achieving our objectives. Our CEO has
concluded that our disclosure controls and procedures are effective at a
reasonable assurance level to ensure that material information relating to the
Company is made known to management, including the CEO, particularly during the
period when our periodic reports are being prepared, and that our Internal
Controls are effective at that assurance level to provide reasonable assurance
that our financial statements are fairly presented inconformity with accounting
principals generally accepted in the United States. Additionally, there has
been no change in our Internal Controls that occurred during our most recent
fiscal quarter that has materially affected, or is reasonably likely to affect,
our Internal Controls.


ITEM 8B. OTHER INFORMATION
--------------------------

None.


                                      53
<PAGE>

PART III
--------

ITEM 9. DIRECTORS AND EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS
-----------------------------------------------------------------------

On December 31, 2005, Empire had three directors and two executive officers,
all of which do not have any other directorships with any other reporting
company. All directors of our company hold office until the next annual meeting
of the stockholders or until their successors have been elected and qualified
or have resigned. The officers of our company are appointed by our board of
directors and hold office until their death, resignation or removal from
office. Our directors, executive officers and significant employees, their
ages, positions held, and duration as such, is as follows:


                                               Date First
Name                  Age  Position            Elected         Term Expiry
--------------------  ---  ------------------  --------------  --------------
Ken Chu                43  Chief Executive     December 21,    None
                           Officer, Chairman   2005
                           of the Board,
                           Director

Vic Dominelli          45  Chief Financial     March 1, 2005   None
                           Officer,
                           Director            January 6,      None
                                               2005

Kalson G.H. Jang       27  Director            July 9, 2004    None



There are no significant employees that are expected to make a significant
contribution to the business.  There are no family relationships among the
directors, executive officers, or persons nominated or chosen by the Company
to become directors or executive officers.  No current director or executive
officers of the Company are involved in any pending legal proceedings, however,
the former President and CEO and director of the Company is subject to a cease
trade order issued by the Ontario Securities commission as detailed elsewhere
in this report.

Audit Committee Financial Expert
During the period covered by this report our board of directors determined that
it does not have a member of its audit committee that qualifies as an "audit
committee financial expert" as defined in Item 401(e) of Regulation S-B, and is
"independent" as the term is used in Item 7(d)(3)(iv) of Schedule 14A under the
Securities Exchange Act of 1934, as amended.

We believe that the members of our board of directors are collectively capable
of analyzing and evaluating our financial statements and understanding internal
controls and procedures for financial reporting. In addition, we believe that
retaining an independent director who would qualify as an "audit committee
financial expert" would be overly costly and burdensome and is not warranted in
our circumstances given the early stages of our development and the fact that
the Company has not generated any revenues to date.

Subsequent to the period covered by this report the Company has determined
that its reorganization and acquisition of revenue producing business demands
a financial expert with specialized skills and experience.  The Company is
currently in the process of filling this vacancy.




                                      54
<PAGE>

Resumes
Ken Chu - Chief Executive Officer, Chairman of the Board, Director
                   Former President, Excel Empire Limited
                   Former CFO, Jiaozuo Sunwin Real Estate Development Co. Ltd.

                   Mr. Chu has over 15 years of professional experience
                   focusing on international financing, corporate consulting,
                   and commercial information services in Hong Kong and
                   Mainland China.

                   He has also been involved in corporate restructuring and
                   consolidation for several financial institutions in Hong
                   Kong and China as well as financial planning for various
                   government projects and foreign public corporations. He has
                   participated in the editing of "Basic Analysis for Chinese
                   Public Companies" published by the China Chengxin Company.
                   This publication, the first of its nature, is a research
                   report reviewing all Chinese Public Companies and ranking
                   their capital equity.

Professional Experience - in financial planning, investment banking &
                          consulting services:
                   Dun & Bradstreet International Ltd.
                   Greencool Technology Holding Co. Ltd [8056.hk]
                   Shandong Xincheng Construction Engineering Co. Ltd.
                   China National Information Network [http://www.cnnc.info/]
                   Broad Group Co. Ltd.
                   Global Merger and Acquisition Research Center
                      [http://www.online-ma.com.cn/]
                   Hunan Yiyang Hongrun Rare Metal Co. Ltd.,
                   Chinese Green Herbal Global Franchising Holding Co.
                   China National Beverage Safety Certification Center
                   Zhuhai Jiufeng Ake Energy Co. Ltd.

Working Experience:
                   Hongkong Hengning Financial Co. Ltd.
                      - Founder/Executive Director
                   China Association of International Econ. & Tech. Stimulation
                      - Liaison Officer
                   Shenzhen China Chengxin Financial Consultancy Co. Ltd.
                      - Founder/General Manager
                   Excel Empire Limited
                       Founder / President

Vic Dominelli - Chief Financial Officer, Director
2002 - Current     Self Employed independent contractor
1985 - 2002        Senior Human Resources Manager Bombardier Aircraft Canada
                   Inc.

Kalson G.H. Jang - Director and Chairman of the Board
2000 - Current     Chief operating officer, Trillion Financial Group.  Manages
                   daily operations of the company that oversees 900 agents and
                   has written business of over CAD $5 billion.
2002 - 2004        Internal Analyst, ABNAMRO Asset Management.  Analyzed and
                   monitored segregated and pooled funds for the company.

On December 21, 2005 Kalson G. H. Jang resigned as Chairman and subsequent to
the period covered by this report also resigned as a Director of the Company.

                                      55
<PAGE>

Subsequent to the date covered by this annual report, Hoi Ming Chan and Xu
Bing have become Directors of the Company.

Hoi Ming Chan - Director
2000 - 2005        Former President and Director 501 Canada Inc.
                   President Empire Global Acquisition Corp.

                   Mr. Chan is 46 years old and is one of Empire Global Corp's
                   Directors.  Mr. Chan has over 15 years of professional
                   experience focusing on property investment and management
                   including owning and operating a textile business employing
                   approximately 1,000 people in Guangzhou, China.

                   Mr. Chan has also been involved in property investment and
                   management since 1998 and served as President of 501 Canada
                   Inc. from 2000 to 2005, during which the company acquired
                   and owned a commercial-industrial property at located at
                   501 Alliance Avenue in Toronto, Ontario, as well as an
                   industrial property in Scarborough, Ontario.

                   His experience and familiarity with the assets and contracts
                   that the Registrant acquired pursuant to the Plan of Merger
                   and Reorganization between the Registrant and Empire Global
                   Acquisition Corp. and 501 Canada Inc. along with his past
                   business success in China are vital attributes that he will
                   contribute to the Company as we progress towards our
                   corporate goals and objectives.

Xu Bing - Director
2003 - Current     Managing Director, Sunwin Commerce Plaza Co, Ltd,

                   Mr. Bing Xu has over 10 years experience in real estate
                   development and management. From 1993 to Sept. 2002, he was
                   employed as the manager of Jiaozuo Sanwei Material Co. Ltd.
                   As well as the manager of Henan Zhongzhou Construction and
                   Installation Company (Jiaozuo Subsidiary). During this
                   period, he was responsible for the installation and material
                   supplies for several power plant construction projects in
                   Henan Province, those being a) Yinsan (2 x 300,000 kw),
                   b) Anyang, (2x 300,000 kw), c) Yichuan (2 x 12.5 kw), and
                   d) Luoyang (2x 165,000 kw).

                   Since Oct. 2002, Mr. Xu has been employed as the general
                   manager of Sunwin Real Estate Co. Ltd., and has participated
                   in managing the development of Jiaozuo Qingnian Road Walking
                   District, the Jiaozuo Sunwin Commercial Plaza, and the
                   Jiaozuo Days Hotel.

Honors Received:
* 2003 - "Top Ten Person-in-Power in Middle China Real Estate Market"
* 2003 - Sunwin Company was awarded "Consumer's Choice" award
* 2003 - Sunwin Plaza awarded "Top 20 Real Estate Projects of Middle China"
* 2004 - "Company Excellence - Key Projects of Jiaozuo City"
* 2004 - "Personnel Excellence - Jiaozuo's Real Estate Development Companies"
* 2004 - "Jiaozuo's Worker Excellence of the Year"
* 2004 - "Ten Companies with Best Faith in Jiaozuo"
* 2004 - "Excellence in Real Estate Development Company in Henan of 2003"
* 2005 - "Company with most Outstanding Contribution to Economic Development"
* 2005 - "Company Excellence - Key Construction Projects in 2004"
* 2005 - "Company Excellence - Municipal Construction in 2004"


                                      56
<PAGE>

Compliance with Section 16(a) of the Exchange Act
Based solely on a review of Forms 4 and 5 furnished to the Company and filed
with the Securities and Exchange Commission under Rule 16a-3(e) promulgated
under the Securities Exchange Act of 1934, the Company believes that all
directors, officers and beneficial owners of more than 10% of any class of
equity securities filed on a timely basis the reports required by Section 16(a)
of the Exchange Act during the most recent fiscal year.

Code of Ethics
During the period covered by this report the company had not formally adopted a
specific code of conduct due to the small number of employees and management.
The Board of Directors has been and is in direct contact with management on a
regular basis and believes that all conduct is under sufficient supervision to
protect us and our shareholders from any unethical activity. Subsequent to this
report and effective February 21, 2006 the Company's board of directors adopted
a Code of Business Conduct and Ethics that applies to, among other persons,
members of our Board of Directors, our company's officers including our Chief
Executive Officer (being our principal executive officer) and our company's
Chief Financial Officer (being our principal financial and accounting officer),
contractors, consultants and advisors. As adopted, our Code of Business Conduct
and Ethics sets forth written standards that are designed to deter wrongdoing
and to promote:

(1)  honest and ethical conduct, including the ethical handling of actual or
     apparent conflicts of interest between personal and professional
     relationships;
(2)  full, fair, accurate, timely, and understandable disclosure in reports and
     documents that we file with, or submit to, the Securities and Exchange
     Commission and in other public communications made by us;
(3)  compliance with applicable governmental laws, rules and regulations;
(4)  the prompt internal reporting of violations of the Code of Business
     Conduct and Ethics to an appropriate person or persons identified in the
     Code of Business Conduct and Ethics; and
(5)  accountability for adherence to the Code of Business Conduct and Ethics.

Our Code of Business Conduct and Ethics requires, among other things, that all
of the Company's personnel shall be accorded full access to our Executive
Officers with respect to any matter which may arise relating to the Code of
Business Conduct and Ethics. Further, all of the Company's personnel are to be
accorded full access to our company's Board of Directors if any such matter
involves an alleged breach of the Code of Business Conduct and Ethics by the
Company officers.

In addition, our Code of Business Conduct and Ethics emphasizes that all
employees, and particularly managers and/or supervisors, have a responsibility
for maintaining financial integrity within the Company, consistent with
generally accepted accounting principles, and federal, provincial and state
securities laws. Any employee who becomes aware of any incidents involving
financial or accounting manipulation or other irregularities, whether by
witnessing the incident or being told of it, must report it to his or her
immediate supervisor or to the Company's Executive Officers. If the incident
involves an alleged breach of the Code of Business Conduct and Ethics by the
Executive Officers, the incident must be reported to any member of our Board of
Directors. Any failure to report such inappropriate or irregular conduct of
others is to be treated as a severe disciplinary matter. It is against the
Company policy to retaliate against any individual who reports in good faith
the violation or potential violation of our company's Code of Business Conduct
and Ethics by another.


                                      57
<PAGE>

The Company intends to file the Code of Business Conduct and Ethics with the
Securities and Exchange Commission and is attached herein as an Exhibit to this
annual report. The Company will provide a copy of the Code of Business Conduct
and Ethics to any person without charge, upon request. Requests can be sent to:
Empire Global Corp., Suite 400, 501 Alliance Ave., Toronto, Ontario, M6N 2J1
Attention: President and CEO.


ITEM 10. EXECUTIVE COMPENSATION
-------------------------------

The company's current officers and directors receive no compensation.

SUMMARY COMPENSATION TABLE
<TABLE>
<CAPTION>
                                                                        Restricted   Securities
Name and                                                Other Annual         Stock   Underlying         LTIP      All Other
principal                         Salary        Bonus   Compensation      Award(s)    Options /      Payouts   Compensation
position                Year         ($)          ($)            ($)           ($)     SARs (#)          ($)            ($)
---------------------   ----   ---------   ----------   ------------   -----------   ----------   ----------   ------------
<S>                     <C>    <C>         <C>          <C>            <C>           <C>          <C>          <C>
Ken Chu, Chief
Executive, Chairman     2005           0            0              0             0            0            0              0

Vic Dominelli, Chief
Financial               2005           0            0              0             0            0            0              0

Orlando Silvestri,
Chief Executive         2005           0            0              0             0            0            0              0

Michael Ciavarella,
President, Chief
Executive               2004           0            0              0             0            0            0              0

Minh Ngoc Pham,
Secretary, Treasurer    2004           0            0              0             0            0            0              0

Kalson G.H. Jang,
Chairman                2004           0            0              0             0            0            0              0

J M Page, President,
Secretary, Treasurer    2004           0            0              0             0            0            0              0
                        2003           0            0              0             0            0            0              0
                        2002           0            0              0             0            0            0              0
</TABLE>

There are no current employment agreements between the Company and its
Executive Officers and directors.  The directors and officers have agreed to
work without remuneration until such time as the Company receives sufficient
revenues necessary to provide proper salaries to all officers and compensation



                                      58
<PAGE>

for directors' participation.  At this time, management cannot accurately
estimate when sufficient revenues will occur to implement this compensation, or
the exact amount of compensation.

There are no annuities, pensions or retirement benefits proposed to be paid to
officers, directors or employees of the corporation in the event of retirement
at a normal retirement date pursuant to any presently existing plan provided or
contributed to by the corporation.

Compensation of Directors
No payments have been made to directors of Empire for their services as
directors that have not been previously reported by the Company.


ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
-----------------------------------------------------------------------

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
The tables below set forth, as of December 31, 2005 the beneficial ownership of
the Company's Common Stock (i) by any person or group known by the Company to
beneficially own more than 5% of the outstanding Common Stock, (ii) by each
Director and executive officer and (iii) by all Directors and executive
officers as a group. Unless otherwise indicated, the Company believes that the
beneficial owners of the shares have sole voting and investment power over
such shares. The address of all individuals for whom an address is not
otherwise indicated is 501 Alliance Ave., Suite 400, Toronto, Ontario M6N 2J1.


                   Name and Address                                   Percent
Title of Class     of Beneficial Owner                      Amount   of Class
----------------   --------------------------------   ------------   --------
Common             I-Ching Systems Inc.                  2,633,000      37.6%
144-Restricted     Shareholder

Common             Hoi Ming Chan                           500,000       7.2%
144-Restricted     Shareholder

Common             Florence Kwan Yuet Tsun                 500,000       7.2%
144-Restricted     Shareholder

Common             Million Financial Group                 500,000       7.2%
144-Restricted     Shareholder


The above table is based upon information derived from our stock records.
Unless otherwise indicated in the footnotes to this table and subject to
community property laws where applicable, it believes that each of the
shareholders named in this table has sole or shared voting and investment power
with respect to the shares indicated as beneficially owned. Applicable
percentages are based upon 6,985,867 shares of common stock outstanding as of
December 31, 2005.




                                      59
<PAGE>


SECURITY OWNERSHIP OF MANAGEMENT

                   Name and Address                                   Percent
Title of Class     of Beneficial Owner                      Amount   of Class
----------------   --------------------------------   ------------   --------
Common             Ken Chu, Chairman and CEO                     0         0%
Free Trading       Suite 400 - 501 Alliance Ave.
                   Toronto, Ontario, M6N 2J1

Common             Kalson G.H. Jang, Director                    0         0%
Free Trading       Suite 300 - 123 Commerce Valley
                   Drive East Thornhill, Ontario,
                   L3T 7W8

Common             Vic Dominelli, CFO and Director               0         0%
Free Trading       Suite 400 - 501 Alliance Ave.
                   Toronto, Ontario, M6N 2J1

Common             Total shares owned by officers                0         0%
Free Trading       and directors of the Company as
                   a group. All directors and
                   executive officers (3 persons)


CHANGES IN CONTROL
During the period covered by this report the Company entered into a Plan of
Merger and Reorganization on October 27, 2005 through its wholly owned
subsidiary Empire Global Acquisition Corp. with 501 Canada Inc. (the "501
Plan"). As a result of the completion of the 501 Plan a change in control of
ownership occurred as at the effective time and date of 5:00 p.m. EST on
October 27, 2005. Prior to the effectiveness of the 501 Plan a total of 745,900
common shares of the company were issued and outstanding, after taking effect
of the 501 Plan, 6,240,000 common shares of the Company were issue to the
former shareholders of 501 Canada Inc. for a total of 6,985,867. Therefore,
the former holders of 501 Canada Inc. then held 89.3% of the issued and
outstanding common shares of the company.

On November 4, 2005, the Company entered into a Plan of Merger and
Reorganization with Excel Empire Limited ("Excel") (the "Excel Plan"), a
British Virgin Islands corporation, to acquire a 100% interest in Excel.
Pursuant to the Excel Plan, Excel has agreed to merge into the Company. The
Excel Plan specifies that the Plan will become effective upon filing a
Certificate of Merger with the State of Delaware. The Certificate of Merger
shall be filed once satisfactory Financial statements of Excel are provided to
the Company for review and the Company is satisfied that Excel has met all the
conditions set forth in the Excel Plan. On completion, the shareholders of
Excel will be issued a total of 36,400,000 restricted shares of Company common
stock in exchange for 100% of the issued and outstanding stock of Excel. Such
issuance will effect a change in control of the company.


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
-------------------------------------------------------------

In the last 2 years directors or executive officers, nominees for election as a
director and members of the immediate family of such persons were involved in
transactions and proposed transactions in which Empire was or was to be a
party.  They are as follows:

Chairman of the board and director Kalson G.H Jang is the sole shareholder of
Billion Financial Corporation.  Billion had been loaning us funds to pay our
expenses and the expenses of our wholly owned subsidiaries.  These loans were
not interest-bearing and were due on demand.  Ownership to these loans was
subsequently transferred by way of debt consolidation and an effected private
placement for cancellation of this debt.



                                      60
<PAGE>

At December 31, 2004, Michael Ciavarella was our President and Chief executive.
Mr. Ciavarella had been paying for various operating expenses of the Company.
These expense payments were considered to be funds loaned to the Company and
are not interest-bearing and are due on demand.  Ownership to these loans was
subsequently transferred by way of debt consolidation and an effected private
placement for cancellation of this debt.

At December 31, 2004, Minh Ngoc Pham was our secretary, treasurer and one of
our directors.  Pham was also the president and a director of our then wholly
owned subsidiary IMM Investments Inc.  Pham had performed legal services for
us, and has billed us approximately $30,000 for those services.  Ownership to
these loans was subsequently transferred by way of debt consolidation and an
effected private placement for cancellation of this debt.

Empire Global Corp. has no parent company and was not involved in any
transactions or agreements with any promoters in the last five years.


ITEM 13. EXHIBITS
-----------------

EXHIBITS
The exhibits required by Item 601 of Regulation S-B listed on the Exhibit Index
are included herein.

14.1   Code of Ethics

31.1   Certification of Principal Executive Officer required under Rule
       13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934,
       as amended.

31.2   Certification of Principal Financial Officer required under Rule
       13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934,
       as amended.

32.1   Certification of Principal Executive Officer required under Rule
       13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934,
       as amended, and 18 U.S.C. Section 1350.

32.2   Certification of Principal Financial Officer required under Rule
       13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934,
       as amended, and 18 U.S.C. Section 1350.

REPORTS ON FORM 8-K
On January 12, 2005, the Company filed an 8-K to report the following:
The resignation of Minh Ngoc Pham as our secretary, treasurer and one of our
directors and the resignation of Michael Ciavarella as our President, Chief
Executive and one of our directors. It was also reported that Vic Dominelli
\was elected as a director, filling the vacancy left by the resignation of
Minh Ngoc Pham.

On March 18, 2005, the Company filed an 8-K to report the following:
That by FD Disclosure the 7 for 1 forward split approved by the board of
directors to take effect July 26, 2004.

On March 18, 2005, the Company filed an 8-K to report the following:
The appointment of Orlando Sylvestri as the new President and Chief Executive
and Director of the Company, filling the vacancy left by the resignation of
Michael Ciavarella.


                                      61
<PAGE>

On March 18, 2005, the Company filed an 8-K to report the following:
The appointment of Vic Dominelli as our Chief Financial Officer.

On March 21, 2005, the Company filed an 8-K to report the following:
The resignation of Beckstead and Watts LLP as our principal independent auditor
and it was also reported that SF Partnership LLP was appointed as our new
principal independent auditor replacing Beckstead and Watts, LLP.

On July 7, 2005, the Company filed an 8-K to report the following:
The entry into an agreement of Purchase and Sale with Brookstreet Capital Corp.
("Brookstreet") whereby Brookstreet acquired 100% of Montebello Developments
Corp. in exchange for a Promissory Note issued to the Company in the amount of
$250,000. It was also reported that the Company entered into an agreement of
Purchase and Sale with Blazing Holding Inc. ("Blazing") whereby Blazing
acquired 100% of IMM Developments Inc. in exchange for a Promissory Note issued
to the Company in the amount of $3,000,000.

It was also reported by FD Disclosure that the Company amended its articles of
incorporation to change its name to Vianet Technology Group Ltd. and a 10 for 1
reverse split of its common stock effective on June 30, 2005. It was further
reported that the Company entered into a Definitive Material Agreement with
Vianet Direct Inc. ("Vianet") to acquire 100% of the issued and outstanding
shares of Vianet in exchange for up to 21,000,000 new shares of the Company and
that the agreement would become effective upon completion of due diligence and
approval by the respective Board of Directors of both companies.

On July 27, 2005, the Company filed an 8-K to report the following:
The Company reported that it had terminated the previously reported Definitive
Material Agreement with Vianet and would subsequently amend its articles of
incorporation to change its name to Tradestream Global Corp.

On July 28, 2005, the Company filed an 8-K to report the following:
The Company reported by FD Disclosure that the Company entered into a
Definitive Material Agreement with Tradestream Global AG ("Tradestream") to
acquire 100% of the issued and outstanding shares of Tradestream in exchange
for up to 10,000,000 new shares of the Company and that the agreement would
become effective upon completion of due diligence and approval by the
respective Board of Directors of both companies.

On September 1, 2005, the Company filed an 8-K to report the following:
Termination of the previously reported agreement with Tradestream effective
August 29, 2005.

On September 13, 2005, the Company filed an 8-K to report the following:
The resignation of Orlando Sylvestri as our President, Chief Executive Officer
and one of our directors and the resignation of Antonio Manna as one of our
directors.


                                      62
<PAGE>

On October 4, 2005, the Company filed an 8-K to report the following:
The cancellation of the previously announced Purchase and Sale Agreement
between the company and Brookstreet for the shares of Montebello Developments
Corp. ("Montebello") and the recovery of the shares of Montebello under the
conditions of default by Brookstreet.

It was also reported that the previously announced Purchase and Sale Agreement
between the company and Blazing Holdings Inc. ("Blazing") would be amended to
allow Blazing to make a balloon interest payment on maturity of the Promissory
Note issued to the Company by Blazing pursuant to the agreement.

The Company also announced that it would undertake a 10 for 1 reverse split of
its' common stock to take effect September 29, 2005.

On October 18, 2005, the Company filed an 8-K to report the following:
The Company completed a fully subscribed Private Placement of where 814,100
common shares of the Company where issued in exchange for the cancellation of
debts due to certain investors.

On November 2, 2005, the Company filed an 8-K to report the following:
The Company entered into a Material Definitive Agreement with 501 Canada Inc.
("501") and that the Company amended its articles of incorporation to change
its name to Empire Global Corp. and organize Empire Global Acquisition Corp.
("EGAC") an Ontario Corporation as a wholly owned subsidiary of the Company.
It was reported that the Company pursuant to a Plan of Merger and
Reorganization with 501 (the "501 Plan") through its wholly owned subsidiary
EGAC would acquire 100% of the issued and outstanding shares of 501 in
exchange for 6,240,000 shares of EGAC, and, that the shares of EGAC issued to
the former shareholders of 501 where exchangeable and convertible to common
shares of the Company on a 1 to 1 ratio.

Subsequent to this report the Company filed an 8-K/A on November 3, 2005
amending the 8-K filed on the same day reporting the Certified Audited
Financial statements pursuant to the requirements of the 501 Plan.

On November 10, 2005, the Company filed an 8-K to report the following:
The Company entered into a Material Definitive Agreement with Excel Empire
Limited ("Excel"). It was reported that the Company pursuant to a Plan of
Merger and Reorganization with Excel (the "Excel Plan") would acquire 100% of
the issued and outstanding shares of Excel in exchange for 36,400,000 shares
of the Company upon completion of the closing requirements provided uner the
Excel Plan. The Excel Plan will become effective once the Company files a
Certificate of Merger with the State of Delaware.

On December 28, 2005, the Company filed an 8-K to report the following:
The resignation of Kalson G. H. Jang as our Chairman of the Board and one of
our directors and the appointment of Ken Chu, as our Chairman and as one of our
directors, filling the vacancy left by the resignation of Kalson G. H. Jang.

Subsequent to this report the Company filed an 8-K/A on January 9, 2006
amending the 8-K filed on December 28, 2005 stating that Kalson G. H. Jang
remained as one of our directors and only resigned from his position as the
Chairman of the Board which position was subsequently filled by Ken Chu.

REPORTS ON FORM 8-K (SUBSEQUENT TO THE DATE OF THIS ANNUAL REPORT)
On February 23, 2006, the Company filed an 8-K to report the appointment of
Mr. Hoi Ming Chan as one of our directors.

                                      63
<PAGE>

On March 6, 2006, the Company filed an 8-K to report the resignation of Kalson
G. H. Jang as one of our directors.

On March 15, 2006, the Company filed an 8-K to report the appointment of Xu
Bing as one of our directors.


ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
-----------------------------------------------

AUDIT FEES
Audit fees are for professional services for the audit of our annual financial
statements, and for the review of the financial statements included in our
filing on Form 10-QSB and for services that are normally provided in connection
with statutory and regulatory filings or engagements. The Company paid audit
fees of approximately $61,000 and $24,000 in 2005 and 2004, respectively.

AUDIT RELATED FEES
Audit related fees are funds paid for the assurance and related services
reasonably related to the performance of the audit or the review of our
financial statements. We paid no audit related fees to SF Partnership LLP
during 2005 and 2004.

TAX FEES
Tax fees are those funds paid for professional services with respect to tax
compliance, tax advice, and tax planning. We paid no professional tax fees to
SF Partnership LLP during 2005 and 2004.

ALL OTHER FEES
Fees paid for permissible work that does not fall within any of the three
other fees categories set forth above. No other fees were paid to SF
Partnership LLP during 2005 and 2004.

PRE-APPROVED POLICY FOR AUDIT AND NON-AUDIT SERVICES
During the period covered by this report the Company did not have a standing
audit committee and the full Board of Directors performed all functions of an
audit committee, including the pre-approval of all audit and non-audit services
prior to our engagement of an accounting firm. All of the services rendered for
us by SF Partnership LLP were pre-approved by our Board of Directors.












                                      64
<PAGE>

                                  SIGNATURES

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

                                   EMPIRE GLOBAL CORP.




                             By:   /s/ Ken Chu
                                   -------------------------
                                   Ken Chu
                                   Chief Executive Officer
                                   (Principal Executive Officer)

                             Date: April 15, 2006.



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



                             By:   /s/ Ken Chu
                                   -------------------------
                                   Ken Chu
                                   Chief Executive Officer
                                   (Principal Executive Officer)

                             Date: April 15, 2006.




                             By:   /s/ Vic Dominelli
                                   -------------------------
                                   Vic Dominelli
                                   Chief Financial Officer
                                   (Principal Financial Officer)

                             Date: April 15, 2006.














                                      65
<PAGE>

                                  EXHIBIT INDEX

The following exhibits are filed as part of this Annual Report on Form
10-KSB:

      Exhibit
      Number                             Description
-------------------------------------------------------------------------------


       14.1      Code of Ethics

       31.1      Certification of Principal Executive Officer required under
                 Rule 13a-14(a) or Rule 15d-14(a) of the Securities and
                 Exchange Act of 1934, as amended.

       31.2      Certification of Principal Financial Officer required under
                 Rule 13a-14(a) or Rule 15d-14(a) of the Securities and
                 Exchange Act of 1934, as amended.

       32.1      Certification of Principal Executive Officer required under
                 Rule 13a-14(a) or Rule 15d-14(a) of the Securities and
                 Exchange Act of 1934, as amended, and 18 U.S.C. Section 1350.

       32.2      Certification of Principal Financial Officer required under
                 Rule 13a-14(a) or Rule 15d-14(a) of the Securities and
                 Exchange Act of 1934, as amended, and 18 U.S.C. Section 1350.























                                      65
<PAGE>