**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

----

**FORM      10-QSB**

----

**March      31, 2006**

**3**
**33-120908**

**GLOBAL      MUSIC INTERNATIONAL, INC.**

| **Florida**                                                                   | **20-1354562**                               |
|-------------------------------------------------------------------------------|----------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) | (I.R.S.                Employer I.D. Number) |

**30      Grassy Plain Street, Suite 7, Bethel, Connecticut      06801**

**(203)      730-0888**

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**INDEX**

|                                                                                                                    | Page                No. |
|-------------------------------------------------------------------------------------------------------------------------|-------------------------|
|                                                                                                                    |                    |
| **PART                1. FINANCIAL INFORMATION**                                                                        |                    |
|                                                                                                                    |                    |
| Item                1. Financial                Statements                                               | 3                       |
|                                                                                                                    |                    |
| Condensed                Balance Sheet, March 31, 2006 (unaudited) and June 30, 2005                          | 3                       |
|                                                                                                                    |                    |
| Condensed                Statements of Operations, for the three and nine                month periods ended            |                    |
| March                31, 2006 and 2005 and cumulative from inception (July 1,                2004) to                   |                    |
| March                31, 2006 (unaudited)                                                                          | 4                       |
|                                                                                                                    |                    |
| Condensed                Statement of Changes in Stockholders’ Deficiency                cumulative from          |                    |
| inception                (July 1, 2004) to March 31, 2006 (unaudited)                                         | 5                       |
|                                                                                                                    |                    |
| Condensed                Statements of Cash Flows, for the nine month periods                ended                      |                    |
| March                31, 2006 and 2005 and cumulative from inception (July 1,                2004) to                   |                    |
| March                31, 2006 (unaudited)                                                                          | 6                       |
|                                                                                                                    |                    |
| Notes                to Condensed Financial Statements (unaudited)                                                 | 7                       |
|                                                                                                                    |                    |
| Item                2. Management’s                Discussion and Analysis or Plan of Operation    | 10                      |
|                                                                                                                    |                    |
| Item                3. Controls                and Procedures                                            | 12                      |
|                                                                                                                    |                    |
| **PART                II. OTHER INFORMATION**                                                                           |                    |
|                                                                                                                    |                    |
| Item                1. Legal                Proceedings                                                  | 13                      |
|                                                                                                                    |                    |
| Item                2. Unregistered                Sales of Equity Securities and Use of Proceeds                  | 13                      |
|                                                                                                                    |                    |
| Item                3. Defaults                Upon Senior Securities                                    | 13                      |
|                                                                                                                    |                    |
| Item                4. Submission                of Matters to a Vote of Security Holders                | 13                      |
|                                                                                                                    |                    |
| Item                5. Other                Information                                                  | 13                      |
|                                                                                                                    |                    |
| Item                6. Exhibits                and Reports on Form 8-K                                   | 13                      |

----

|                                                |                                     |                                    |   |   |   |   |   |   |   |   |
|-----------------------------------------------------|------------------------------------------|-----------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|
| **PART                1.**                          | **FINANCIAL                INFORMATION** |                                    |   |   |   |   |   |
|                                                | **Item                1.**               | **Financial                Statements** |   |   |   |   |   |   |
|                                                |                                     |                                    |   |   |   |   |   |   |   |   |
| **GLOBAL                MUSIC INTERNATIONAL, INC.** |
| **(A                DEVELOPMENT STAGE COMPANY)**    |
| **CONDENSED                BALANCE SHEETS**         |

| **ASSETS**                                                                                                              |
|-------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |   |   |   |   |   |   |   |
|                                                                                                                    |   |   | **March                31, 2006** |   |   |   |   |
|                                                                                                                         |   |   | **(unaudited)** |   |   | **June                30, 2005** |   |
| **Cash**                                                                                                                |   | $ | 18,508 |   | $ | 117,058 |   |
| **Prepaid                Expenses**                                                                                     |   |   | 12,000 |   |   | 143,287 |   |
| **Other                Current Assets**                                                                                 |   |   | 7,600 |   |   | - |   |
| **Total                Current Assets**                                                                                 |   |   | 38,108 |   |   | 260,345 |   |
|                                                                                                                    |   |   |   |   |   |   |   |
| **Property                and Equipment, net**                                                                          |   |   | 69,232 |   |   | 96,171 |   |
| **TOTAL                ASSETS**                                                                                         |   | $ | 107,340 |   | $ | 356,516 |   |
| **LIABILITIES                AND STOCKHOLDERS' DEFICIENCY**                                                             |
|                                                                                                                    |   |   |   |   |   |   |   |
| **LIABILITIES**                                                                                                         |   |   |   |   |   |   |   |
| **Accounts                Payable**                                                                                     |   | $ | 4,250 |   | $ | 8,489 |   |
| **Accrued                Interest**                                                                                     |   |   | 136,145 |   |   | 85,173 |   |
| **Accrued                Expenses**                                                                                     |   |   | 10,000 |   |   | 3,500 |   |
| **Advance                from Officer / Director**                                                                      |   |   | 100,000 |   |   | - |   |
| **Note                Payable to Officer / Director**                                                                   |   |   | 1,131,680 |   |   | 1,131,680 |   |
| **Total                Current Liabilities**                                                                            |   |   | 1,382,075 |   |   | 1,228,842 |   |
|                                                                                                                    |   |   |   |   |   |  |   |
| **STOCKHOLDERS'                DEFICIENCY**                                                                             |   |   |   |   |   |   |   |
| **Common                Stock, $.0001 par value,**                                                                      |   |   |   |   |   |   |   |
| **40,000,000                shares authorized, 21,937,000**                                                             |   |   |  |   |   |  |   |
| **and                21,657,000 shares issued and outstanding**                                                         |   |   | 2,194 |   |   | 2,166 |   |
| **Common                Stock To Be Issued**                                                                            |   |   | 355,500 |   |   | 393,600 |   |
| **Additional                Paid-In Capital**                                                                           |   |   | 743,587 |   |   | 350,015 |   |
| **Unearned                Compensation**                                                                                |   |   | (257,000 | ) |   | - |   |
| **Deficit                Accumulated During the Development Stage**                                                     |   |   | (2,119,016 | ) |   | (1,618,107 | ) |
| **Total                Stockholders' Deficiency**                                                                       |   |   | (1,274,735 | ) |   | (872,326 | ) |
| **TOTAL                LIABILITIES AND STOCKHOLDERS' DEFICIENCY**                                                       |   | $ | 107,340 |   | $ | 356,516 |   |
|                                                                                                                    |   |   |   |   |   |   |   |
| ***The                accompanying notes are an integral part of these condensed financial                statements*** |

----

| **GLOBAL                MUSIC INTERNATIONAL, INC.**               |
|-------------------------------------------------------------------|
| **(A                DEVELOPMENT STAGE COMPANY)**                  |
| **CONDENSED                STATEMENTS OF OPERATIONS (UNAUDITED)** |
|                                                              |

|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       | **Cumulative                From Inception** |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------|------------|--------------------------------------------|--------|--------------------------------------|--------|-----------------------------------|------------|----------------------------------------------|--------|
|                                                                                                                    |   | **Three                Month Period Ended** |       | **Nine                Month Period Ended** |   | **(July                1, 2004) To** |   |
|                                                                                                                    |   | **March                31, 2006**           |       | **March                31, 2005**          |   | **March                31, 2006**    |   | **March                31, 2005** |       | **March                31, 2006**            |   |
|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |
| **Revenues**                                                                                                            |   | $                                           | 9,547      |                                       | $      | -                                    |   | $                                 | 9,547      |                                         | $      | - |   | $ | 9,547 |   |
|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |   |   |   |   |   |
| **Expenses**                                                                                                            |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |   |   |   |   |   |
| **Consulting                and Professional Fees Expense**                                                             |   |                                        | 135,700    |                                       |   | 5,500                                |   |                              | 294,424    |                                         |   | 25,500 |   |   | 308,074 |   |
| **General                and Administrative Expenses**                                                                  |   |                                        | 51,006     |                                       |   | 15,649                               |   |                              | 130,312    |                                         |   | 20,321 |   |   | 223,599 |   |
| **Interest                Expense**                                                                                     |   |                                        | 16,742     |                                       |   | 22,500                               |   |                              | 50,972     |                                         |   | 60,000 |   |   | 136,145 |   |
| **Depreciation                Expense**                                                                                 |   |                                        | 11,670     |                                       |   | 10,374                               |   |                              | 34,748     |                                         |   | 29,457 |   |   | 74,995 |   |
|                                                                                                                    |   |                                        | 215,118    |                                       |   | 54,023                               |   |                              | 510,456    |                                         |   | 135,278 |   |   | 742,813 |   |
|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |   |   |   |   |   |
|  **Loss                Before Provision For Income Taxes**                                                         |   |                                        | (205,571   | )                                          |   | (54,023                              | )      |                              | (500,909   | )                                            |   | (135,278 | ) |   | (733,266 | ) |
| **Provision                For Income Taxes**                                                                           |   |                                        | -          |                                       |   | -                                    |   |                              | -          |                                         |   | - |   |   | (250 | ) |
|  **Net                Loss**                                                                                       |   | $                                           | (205,571   | )                                          | $      | (54,023                              | )      | $                                 | (500,909   | )                                            | $      | (135,278 | ) | $ | (733,516 | ) |
|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |   |   |   |   |   |
|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |   |   |   |   |   |
| **Basic                Net Loss Per Common Share**                                                                      |   | $                                           | (0.01      | )                                          | $      | NIL                                  |   | $                                 | (0.02      | )                                            | $      | NIL |   |   |   |   |
|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |   |   |   |   |   |
| **Weighted                Average Common Shares Outstanding**                                                           |   |                                        | 22,088,000 |                                       |   | 21,457,000                           |   |                              | 22,117,000 |                                         |   | 20,963,976 |   |   |   |   |
|                                                                                                                    |   |                                        |       |                                       |   |                                 |   |                              |       |                                         |   |   |   |   |   |   |
| ***The                accompanying notes are an integral part of these condensed financial                statements*** |

----

| **GLOBAL                MUSIC INTERNATIONAL, INC.**                                                      |
|----------------------------------------------------------------------------------------------------------|
| **(A                DEVELOPMENT STAGE COMPANY)**                                                         |
| **CONDENSED                STATEMENT OF CHANGES IN STOCKHOLDERS'                DEFICIENCY**             |
| **CUMULATIVE                FROM INCEPTION (JULY 1, 2004) TO MARCH 31, 2006                (UNAUDITED)** |

|                                                          |       |                                            |       |                                 |       |                                 |       |                                    |       | **  **                        |       | **Deficit                    Accumulated ** |       | **Total **      | ** ** |
|---------------------------------------------------------------|------------|-------------------------------------------------|------------|-------------------------------------------|------------|-------------------------------------------|------------|----------------------------------------------|------------|-----------------------------------------|------------|--------------------------------------------------|------------|----------------------|------------|
| ** **                                                    | ** ** | **Common                    Stock  ** | ** ** | **Common                    Stock ** | ** ** | **Additional **                      | ** ** | **Unearned **                           | ** ** | **During                    the ** | ** ** | **Stockholders' **                          | ** ** |
| ** **                                                    | ** ** | **Shares**                                      | ** ** | **Value **                           | ** ** | **To                    be Issued ** | ** ** | **Paid-in                    Capital ** | ** ** | **Compensation **                  | ** ** | **Development                    Stage **   | ** ** | **Deficiency**  |       |
|                                                          |       |                                            |       |                                 |       |                                 |       |                                    |       |                               |       |                                        |       |            |       |
| Common                    Stock                               |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |   |   |
| Issued                    in connection with:                 |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |   |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |   |   |
| Incorporation                    (July 1, 2004)               |       |                                            | 20,350,000 |                                      | $          | 2,035                                     |       | $                                            | -          |                                    | $          | -                                                |       | $                    | -          |   | $ | - |   | $ | 2,035 |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
| Private                    placements                         |       |                                            | 1,507,000  |                                      |       | 151                                       |       |                                         | -          |                                    |       | 589,995                                          |       |                 | -          |   |   | - |   |   | 590,146 |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
| Consulting                    Services                        |       |                                            | 80,000     |                                      |       | 8                                         |       |                                         | -          |                                    |       | 153,592                                          |       |                 | -          |   |   | - |   |   | 153,600 |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
| To                    be Issued in connection with            |       |                                            |       |                                      |       |                                      |       |                                         |            |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
| Consulting                    services at $ 1.97 per share    |       |                                            | -          |                                      |       | -                                         |       |                                         | 98,500     |                                    |       | -                                                |       |                 | (98,500    | ) |   | - |   |   | - |   |
| Legal                    services at $ 2.00 per share         |       |                                            | -          |                                      |       | -                                         |       |                                         | 60,000     |                                    |       | -                                                |       |                 | (60,000    | ) |   | - |   |   | - |   |
| Officers'                    compensation at $ 1.97 per share |       |                                            | -          |                                      |       | -                                         |       |                                         | 197,000    |                                    |       | -                                                |       |                 | (197,000   | ) |   | - |   |   | - |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |   |   |
| Amortization                    of Unearned Compensation      |       |                                            | -          |                                      |       | -                                         |       |                                         | -          |                                    |       | -                                                |       |                 | 98,500     |   |   | - |   |   | 98,500 |   |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
| Dividend                                                      |       |                                            | -          |                                      |       | -                                         |       |                                         | -          |                                    |       | -                                                |       |                 | -          |   |   | (1,385,500 | ) |   | (1,385,500 | ) |
|                                                          |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |  |   |
| Net                    loss                                   |       |                                            | -          |                                      |       | -                                         |       |                                         | -          |                                    |       | -                                                |       |                 | -          |   |   | (733,516 | ) |   | (733,516 | ) |
|  -                                                       |       |                                            |       |                                      |       |                                      |       |                                         |       |                                    |       |                                             |       |                 |       |   |   |   |   |   |   |   |
| Balance,                    March 31, 2006                    |       |                                            | 21,937,000 |                                      | $          | 2,194                                     |       | $                                            | 355,500    |                                    | $          | 743,587                                          |       | $                    | (257,000   | ) | $ | (2,119,016 | ) | $ | (1,274,735 | ) |

----

| **GLOBAL                MUSIC INTERNATIONAL, INC.**                              |
|----------------------------------------------------------------------------------|
| **(A                DEVELOPMENT STAGE COMPANY)**                                 |
| **CONDENSED                STATEMENTS OF CASH FLOWS                (UNAUDITED)** |

|                                                                                               |   |                                        |     |                              |   |                                        |   |
|----------------------------------------------------------------------------------------------------|--------|---------------------------------------------|----------|-----------------------------------|--------|---------------------------------------------|--------|
|                                                                                               |   |                                        |     |                              |   | **Cumulative                From**          |   |
|                                                                                               |   |                                        |     |                              |   | **Inception                (July 1, 2004)** |   |
|                                                                                               |   | **Nine                Month Periods Ended** |     | **To**                            |   |
|                                                                                               |   | **March                31, 2006**           |     | **March                31, 2005** |   | **March                31, 2006**           |   |
| **CASH                FLOWS FROM OPERATING ACTIVITIES:**                                           |   |                                        |     |                              |   |                                        |   |   |   |   |
| **Net                loss**                                                                        |   | $                                           | (500,909 | )                                 | $      | (135,278                                    | )      | $ | (733,516 | ) |
| **Adjustments                to reconcile net loss to net cash**                                   |   |                                        |     |                              |   |                                        |   |   |   |   |
| **used                in operating activities:**                                                   |   |                                        |     |                              |   |                                             |   |   |   |   |
|  **Depreciation                expense**                                                      |   |                                        | 34,748   |                              |   | 29,457                                      |   |   | 74,995 |   |
| **Compensation                expense pursuant to common stock**                                   |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **issued                to founders at time of incorporation**                               |   |                                        | -        |                              |   | 2,035                                       |   |   | 2,035 |   |
| **Consulting                expense pursuant to common stock**                                     |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **issued                / to be issued in exchange for services received**                   |   |                                        | 131,200  |                              |   | -                                           |   |   | 141,600 |   |
|  **Amortization                of Unearned Compensation**                                     |   |                                        | 98,500   |                              |   | -                                           |   |   | 98,500 |   |
| **Changes                in assets and liabilities:**                                              |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **(Increase)                decrease in:**                                                   |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **Prepaid                Expenses**                                                          |   |                                        | 87       |                              |   | (87                                         | )      |   | - |   |
|  **Other                Current Assets**                                                      |   |                                        | (7,600   | )                                 |   | -                                           |   |   | (7,600 | ) |
|  **Increase                (decrease) in:**                                                   |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **Accounts                Payable**                                                          |   |                                        | (4,239   | )                                 |   | 5,000                                       |   |   | 4,250 |   |
|  **Accrued                Interest**                                                          |   |                                        | 50,972   |                              |   | 60,000                                      |   |   | 136,145 |   |
|  **Accrued                Expenses**                                                          |   |                                        | 6,500    |                              |   | -                                           |   |   | 10,000 |   |
|                                                                                               |   |                                        |          |                              |   |                                             |   |   |  |   |
| **Net                cash used in operating activities**                                           |   |                                        | (190,741 | )                                 |   | (38,873                                     | )      |   | (273,591 | ) |
| **CASH                FLOWS FROM INVESTING ACTIVITIES:**                                           |   |                                        |     |                              |   |                                        |   |   |   |   |
| **Purchases                of Property and Equipment**                                             |   |                                        | (7,809   | )                                 |   | (14,984                                     | )      |   | (29,727 | ) |
| **Net                cash used in investing activities**                                           |   |                                        | (7,809   | )                                 |   | (14,984                                     | )      |   | (29,727 | ) |
| **CASH                FLOWS FROM FINANCING ACTIVITIES:**                                           |   |                                        |     |                              |   |                                        |   |   |   |   |
| **Advance                from Officer/Director**                                                   |   |                                        | 100,000  |                              |   | 3,680                                       |   |   | 100,000 |   |
| **Proceeds                from Private Placement Offering, net**                                   |   |                                        | -        |                              |   | 230,146                                     |   |   | 590,146 |   |
| **Repayments                of Note Payable to Officer/Director**                                  |   |                                        | -        |                              |   | -                                           |   |   | (368,320 | ) |
|                                                                                               |   |                                        |     |                              |   |                                        |   |   |   |   |
| **Net                cash provided by financing activities**                                       |   |                                        | 100,000  |                              |   | 233,826                                     |   |   | 321,826 |   |
| **(Decrease)                increase in cash**                                                     |   |                                        | (98,550  | )                                 |   | 179,969                                     |   |   | 18,508 |   |
| **Cash,                beginning of period**                                                       |   |                                        | 117,058  |                              |   | -                                           |   |   | - |   |
| **Cash,                end of period**                                                             |   | $                                           | 18,508   |                              | $      | 179,969                                     |   | $ | 18,508 |   |
|                                                                                               |   |                                        |     |                              |   |                                        |   |   |   |   |
| **Supplemental                disclosures of cash flow information:**                              |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **Non-cash                investing and financing activities**                               |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **Note                payable recorded in connection with purchase of**                      |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **equipment                and recognition of dividend to officer / director**               |   | $                                           | -        |                              | $      | 1,500,000                                   |   | $ | 1,500,000 |   |
|  **Unearned                Compensation recorded in connection with common**                  |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **stock                to be issued in exchange for services to be                rendered** |   | $                                           | 355,500  |                              | $      | -                                           |   | $ | 355,500 |   |
|  **Prepaid                expenses recorded in connection with common stock**                 |   |                                        |     |                              |   |                                        |   |   |   |   |
|  **issued                in exchange for services to be rendered**                            |   | $                                           | -        |                              | $      | -                                           |   | $ | 153,600 |   |

***The      accompanying notes are an integral part of these condensed financial      statements***

----

**GLOBAL        MUSIC INTERNATIONAL, INC.**

**(A        DEVELOPMENT STAGE COMPANY)**

**NOTES        TO CONDENSED FINANCIAL STATEMENTS**

**(UNAUDITED)**

| **NOTE                  1 - BASIS OF PRESENTATION** |
|-----------------------------------------------------|

|   | The                  accompanying unaudited condensed financial statements have been                  prepared                  in accordance with accounting principles generally accepted in                  the United                  States of America and the rules and regulations of the Securities                  and                  Exchange Commission (the “SEC”) for interim financial reporting. Certain                  information and footnote disclosures normally included in the Company's                  annual financial statements have been condensed or omitted. In                  the                  Company's opinion, the unaudited interim financial statements and                  accompanying notes reflect all adjustments, consisting of normal                  and                  recurring adjustments that are necessary for a fair presentation                  of its                  financial position and operating results for the interim periods                  ended                  March 31, 2006 and 2005 and cumulative from inception (July 1,                  2004) to                  March 31, 2006. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | The                  results of operations for the interim periods are not necessarily                  indicative of the results to be expected for the entire fiscal                  year. This                  Form 10-QSB should be read in conjunction with the audited financial                  statements and notes thereto included in the Company's Form 10-KSB                  as of                  June 30, 2005 and for the period commencing July 1, 2004 (inception)                  through June 30, 2005.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

| **NOTE                  2 - SIGNIFICANT ACCOUNTING POLICIES** |
|---------------------------------------------------------------|
|                                                          |   |
|                                                          | **NATURE                  OF OPERATIONS**  |
|                                                          |   |
|                                                          | Global                  Music International, Inc. (a Development Stage Company) (the “Company”),                  doing business as Independent Music Network and IMNTV, operates                  a                  diversified entertainment company which is presently webcasting                  programming consisting of music videos of unsigned artists and                  bands from                  around the world, and providing content to third party streaming                  media                  providers both domestically and internationally. |
|                                                          |   |
|                                                          | **DEVELOPMENT                  STAGE COMPANY**  |
|                                                          |   |
|                                                          | The                  Company was incorporated in the State of Florida on July 1, 2004.                  Operations from the Company's inception through March 31, 2006                  have been                  devoted primarily to strategic planning, raising capital and developing                  revenue-generating opportunities. |

|   |
|--------|
|   | **NET                  LOSS PER COMMON SHARE** |
|   |   |
|   | The                  Company presents “basic” earnings (loss) per share and, if applicable,                  “diluted” earnings per share pursuant to the provisions of SFAS No.                  128,*Earnings per Share*.                  Basic earnings (loss) per share is calculated by dividing net income                  or                  loss by the weighted average number of common shares outstanding                  during                  each period. Diluted earnings per share have not been presented                  as the                  Company has not issued any potentially dilutive                  shares. |

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**GLOBAL        MUSIC INTERNATIONAL, INC.**

**(A        DEVELOPMENT STAGE COMPANY)**

**NOTES        TO CONDENSED FINANCIAL STATEMENTS**
***(CONTINUED)***

**(UNAUDITED)**

| **NOTE                  2 - SIGNIFICANT ACCOUNTING POLICIES*****(Continued)*** |
|--------------------------------------------------------------------------------|
|                                                                           |   |
|                                                                           | **USE                  OF ESTIMATES** |
|                                                                           |   |
|                                                                           | The                  preparation of financial statements in conformity with accounting                  principles generally accepted in the United States of of America                  requires                  management to make estimates and assumptions that affect the reported                  amounts and disclosures in the the financial statements. Actual                  results                  could differ from those estimates. |
|                                                                           |   |
|                                                                           | **REVENUE                  RECOGNITION** |
|                                                                           |   |
|                                                                           | The                  Company’s licensing agreements provide for the Company to receive a stated                  percentage of subscriber revenue after a deduction                  for carrier charges. The Company is to receive either monthly or                  quarterly                  reports from licensees, which will  provide                  sufficient information to verify payments to be received. To-date                  the                  Company has received a payment and a royalty report in connection                  with one                  licensing agreement. The Company has not received a payment on                  other                  licensing agreements                  and therefore the Company is unable to determine the amount of                  revenue                  earned for the periods presented. |
|                                                                           |   |
|                                                                           | **RECENT                  ACCOUNTING PRONOUNCEMENTS** |
|                                                                           |   |
|                                                                           | In                  December 2004, the Financial Accounting Standards Board (FASB)                  issued                  Statement of Financial Accounting Standards No.123R, “*Share-Based                  Payment*”                  (SFAS 123R). This statement is a revision of SFAS No. 123*,”Accounting* *for                  Stock-Based Compensation”*                  (SFAS 123) and supersedes Accounting Principle Board Opinion No.                  25                  *“Accounting                  for* *Stock                  Issued to Employees”*                  (APB 25), and its related implementation guidance. SFAS 123R establishes                  accounting for equity instruments exchanged for employee services.                  Under                  the provisions of SFAS 123R, share-based compensation is measured                  at the                  grant date, based upon the fair value of the award, and is recognized                  as                  an expense over the employee’s requisite service period (generally the                  vesting period of the equity grant). Effective January 1, 2006,                  the                  Company adopted the provisions of SFAS 123R. Under this approach,                  the                  Company is required to record compensation cost for all share based                  payments granted after the date of adoption based on the grant                  date fair                  value, estimated in accordance with the provisions of SFAS 123R,                  and for                  the unvested portion of all share-based payments previously granted                  that                  remain outstanding based on the grant date fair value, estimated                  in                  accordance with the original provisions of SFAS 123. Adoption of                  this                  standard did not have a significant impact on the Company’s financial                  condition or results of operations. |
|                                                                           |
| **NOTE                  3 - CONTROL**                                     |
|                                                                           |   |
|                                                                           | As                  of March 31, 2006 the President/CEO and director has been issued,                  in the                  aggregate, 77.1%                  of                  the Company's common stock and, therefore, may have the effective                  power to                  elect all members of the board of directors and to control the                  vote on                  substantially all other matters, without the approval of other                  stockholders. |

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**GLOBAL        MUSIC INTERNATIONAL, INC.**

**(A        DEVELOPMENT STAGE COMPANY)**

**NOTES        TO CONDENSED FINANCIAL STATEMENTS**
***(CONTINUED)***

**(UNAUDITED)**

| **NOTE                  4 - COMMON STOCK TO BE ISSUED**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  During                  the third quarter of 2006, the Company entered into contracts to                  issue                  180,000 shares of restricted common stock to                  three nonemployees and the Company’s Chief Technology Officer for future                  services to be rendered. The Company  recognized                  $355,500 of unearned compensation in the stockholders’ deficiency section                  of the accompanying condensed  balance                  sheets. The shares granted were valued at the estimated fair value                  of the                  services rendered or the estimated fair  value                  of the shares issued, whichever was more reliable. The Company                  amortized                  $98,500 of unearned compensation for the                  three month period ended March 31, 2006. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| **NOTE                  5 - GOING CONCERN**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | The                  accompanying condensed financial statements have been prepared                  assuming                  that the Company will continue as a going concern, which contemplates                  the                  realization of assets and the settlement of liabilities and commitments                  in                  the normal course of business. As shown in the accompanying financial                  statements, the Company has a working capital deficiency of $1,343,967                  as                  of March 31, 2006, has earned minimal revenues, and has incurred                  a net                  loss from its inception (July 1, 2004) through March 31, 2006 totaling                  $733,516. These conditions raise substantial doubt about the Company’s                  ability to continue as a going concern. The financial statements                  do not                  include any adjustments that might result from the outcome of this                  uncertainty. The Company intends to improve the content and quality                  of its                  programming, expand the size and number of markets in which the                  programming content would be available, enter into agreements with                  wireless telecommunication companies on a subscription basis and,                  if                  needed, raise additional capital sufficient to continue operations.                  The                  Company has entered into four agreements for the distribution of                  its                  streaming media content, and has generated minimal revenues during                  its                  third quarter of 2006 but expects increasing revenues in future                  quarters                  in connection with these agreements. The note payable to officer/director                  is due on demand. If the officer/director were to call the note,                  the                  Company would be unable to meet the obligation. Further, no assurance                  can                  be given that the Company will maintain its cost structure as presently                  contemplated, raise additional capital on satisfactory terms, or                  that the                  distribution agreements will generate sufficient revenue to sustain                  operations. |

| **NOTE 6                  - ADVANCES FROM OFFICER/DIRECTOR** |
|-------------------------------------------------------------------|
|                                                              |   |
|                                                              | The                    President/CEO and director has provided various short-term working                    capital                    advances from July 1, 2004 (inception) through                    March 31, 2006. The advances are non interest bearing and are                    due upon                    demand. Amounts due to the                    officer/director at March 31, 2006 and June 30, 2005 for such                    advances                    totaled $100,000 and $-0-,                    respectively. |

| **NOTE 7-                    OPERATING LEASES** |
|------------------------------------------------------|
|                                                 |   |
|                                                 | The                      President/CEO and director has provided various short-term                      working capital                      advances from July 1, 2004 (inception) through                      March 31, 2006. The advances are non interest bearing and are                      due upon                      demand. Amounts due to the                      officer/director at March 31, 2006 and June 30, 2005 for such                      advances                      totaled $100,000 and |

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

**Our      Business**

**Plan      of Operation**

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**Results      of Operations for Period Ended March 31, 2006**

**Liquidity      and Capital Resources**

**Item      3. Controls and Procedures**

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**PART      II - OTHER INFORMATION**

**Item      1. Legal Proceedings**

**Item      2. Unregistered Sales of Equity Securities and Use of Proceeds**

**Item      3. Defaults Upon Senior Securities**

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

**Item      5. Other Information.**

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

**Exhibit      No.**
**Description      of Exhibit**

|   | 31 |   | Certification                of Chief Executive/Financial Officer                pursuant to Section 302 of the Sarbanes-Oxley Act of                2002 |
|--------|----|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 32 |   | Certification of Chief              Executive/Financial Officer pursuant to Section              906 |
|--------|----|--------|------------------------------------------------------------------------------------------------------|

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**SIGNATURE**

|                              | **Global                Music International, Inc.**         |
|-----------------------------------|-------------------------------------------------------------|
|                              |                                                        |
|                              |                                                        |
| Date:                May 12, 2006 | Corinne                Fallacaro                            |
|                              | Corinne                Fallacaro                            |
|                              | Chief                Executive Officer, Principal Financial |
|                              | and                Accounting Officer and Director          |
|                              |                                                        |
|                              |                                                        |
| Date:                May 12, 2006 | /s/                Christopher Mauritz                      |
|                              | Christopher                Mauritz                          |
|                              | Vice                President, Chief Technology Officer,    |
|                              | Secretary                and Director                       |

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