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

                                   FORM 10-KSB

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

For the fiscal year ended December 31, 2005

Or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934

For the transition period from ____________________ to ________________________.

                        Commission File Number: 000-28417

                        GLOBAL GENERAL TECHNOLOGIES, INC.
              ----------------------------------------------------
               (Exact name of company as specified in its charter)


                   Nevada                           76-0599457
      (State or other jurisdiction of     (IRS Employer Identification No.)
               incorporation)

              201 South Biscayne Boulevard, 28th Floor Miami Center
                              Miami, Florida 33131
                    (Address of principal executive offices)

                                 1-800-936-3204
                     (Company's telephone number, including
                                   area code)

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

Securities registered pursuant to section 12(g) of the Act: Common Stock, $0.001
par value

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


<PAGE>

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 II of this  Form  10-KSB or any
amendment to this Form 10-KSB. [ ]

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

The issuer's revenues for its most recent fiscal year were $ 0.00
                                                             ----

Based on the closing  sales  price of the Common  Stock on March 30,  2006,  the
aggregate  market  value of the  voting  common  equity  held by  non-affiliates
computed by reference to the price at which the common  equity was sold,  or the
average bid and asked price of such common equity,  as of March 30, 2006 (a date
within the past 60 days) was $8,123,098.10.

The  number  of  shares  outstanding  of the  issuer's  class  of  common  stock
outstanding as of March 30, 2006 is 14,790,298.

Documents Incorporated By Reference:        None

Transitional Small Business Issuer Disclosure Format (check one):Yes [ ] No [X].



                                       2
<PAGE>





                                      INDEX
<TABLE>
<CAPTION>

                                                                                                                PAGE
<S>                 <C>                                                                                         <C>
PART I
    Item 1.         Description of Business......................................................................  5
    Item 2.         Description of Property......................................................................  9
    Item 3.         Legal Proceedings............................................................................  9
    Item 4.         Submission of Matters to a Vote of Security Holders.......................................... 10

PART II
    Item 5.         Market for Common Equity and Related Stockholder Matters..................................... 10
    Item 6.         Management's Discussion and Analysis or Plan of Operation.................................... 12
    Item 7.         Financial Statements......................................................................... 14
    Item 8.         Changes In and Disagreements with Accountants on Accounting and Financial Disclosure.........
                                                                                                                  14
    Item 8A.        Controls and Procedures...................................................................... 14
    Item 8B.        Other Information............................................................................ 15

PART III
    Item 9.         Directors, Executive Officers, Promoters and Control Persons; Compliance with Section
                    16(a) of the Exchange Act ................................................................... 15
    Item 10.        Executive Compensation....................................................................... 16
    Item 11.        Security Ownership of Certain Beneficial Owners and Management and Related Stockholder        17
                    Matters......................................................................................
    Item 12.        Certain Relationships and Related Transactions............................................... 18
    Item 13.        Exhibits..................................................................................... 18
    Item 14.        Principal Accountant Fees and Services....................................................... 19
</TABLE>

Signatures
Certification











                                       3

<PAGE>


 FORWARD-LOOKING STATEMENTS

         This Annual Report on Form 10-KSB contains forward-looking information.
Forward-looking  information  includes  statements  relating to future  actions,
future  performance,  costs and expenses,  outcome of  contingencies,  financial
condition, results of operations,  liquidity, business strategies, cost savings,
objectives of management, and other such matters of Global General Technologies,
Inc.  (the  "Company").  The Private  Securities  Litigation  Reform Act of 1995
provides a "safe harbor" for forward-looking  information to encourage companies
to provide  prospective  information about themselves without fear of litigation
so long as that information is identified as forward-looking  and is accompanied
by meaningful  cautionary  statements  identifying  important factors that could
cause  actual  results  to  differ   materially  from  those  projected  in  the
information.  Forward-looking  information may be included in this Annual Report
on Form 10-KSB or may be  incorporated  by reference from other  documents filed
with the Securities and Exchange Commission (the "SEC") by the Company.  Many of
these  statements  can be found by looking  for words  including,  for  example,
"believes," "expects," "anticipates," "estimates" or similar expressions in this
Annual Report on Form 10-KSB or in documents  incorporated  by reference in this
Annual Report on Form 10-KSB.  The Company  undertakes no obligation to publicly
update or revise  any  forward-looking  statements,  whether  as a result of new
information or future events.

         The Company has based the  forward-looking  statements  relating to the
Company's  operations  on  management's  current  expectations,  estimates,  and
projections  about the Company  and the  industry  in which it  operates.  These
statements  are  not  guarantees  of  future   performance  and  involve  risks,
uncertainties  and assumptions  that the Company cannot predict.  In particular,
the Company has based many of these  forward-looking  statements on  assumptions
about future events that may prove to be inaccurate.  Accordingly, the Company's
actual  results  may  differ   materially  from  those   contemplated  by  these
forward-looking  statements.  Any  differences  could  result  from a variety of
factors, including, but not limited to general economic and business conditions,
the inability to raise sufficient  funding,  commence  research and development,
inadequate   results  of  the  research  and   development   project,   lack  of
marketability,   operating  costs,  advertising  and  promotional  efforts,  the
existence  or absence of adverse  publicity,  changes in  business  strategy  or
development  plans, the ability to retain  management,  availability,  terms and
deployment   of  capital;   business   abilities   and  judgment  of  personnel,
availability  of  qualified  personnel,  changes  in, or failure to comply  with
various  government  regulations  and  slower  than  anticipated  completion  of
research and development project.  Actual results may also differ as a result of
factors over which we have no control,  including  general economic and business
conditions;  effects of war or  terrorists  acts on the  capital  markets or the
Company's activities.




                                       4
<PAGE>



PART I

ITEM 1. DESCRIPTION OF BUSINESS

History

According  to the  Company's  Annual  Report on Form  10-KSB for the fiscal year
ended December 31, 2003, the Company was formed on April 26, 1993 under the laws
of Nevada.  From its date of formation  until  December  31,  2002,  the Company
engaged in the development and sale of  technology-based  training solutions and
software  programs  that were used to teach and  train  individuals  to  operate
popular business and home use software programs.

During the fiscal year ending December 31, 2002, the Company ceased its business
operations.  The  Company  has not  had  any  products,  services,  or  business
operations since then.

On October 12,  2004,  Shmuel  Shneibalg  and Steven W.  Bingaman  purchased  an
aggregate of 2,293,224 shares of common stock of the Company pursuant to a Stock
Purchase   Agreement  dated  as  of  May  21,  2004.  Such  shares   represented
approximately 90% of the outstanding  shares of common stock of the Company.  In
consideration  for such shares,  Messrs.  Shneibalg and Bingaman agreed to raise
sufficient  capital  to pay the  debts of the  Company,  which  approximated  to
$150,000.  On October 1, 2005, Mr. Bingaman transferred all his interest in said
shares to Mr. Shneibalg.

Since such change in control of the  Company,  the  Company has been  seeking to
identify  profitable business  opportunities in which to invest.  Since February
2005, the Company has focused on the  acquisition  of businesses  engaged in the
homeland security industry and has been actively negotiating such acquisitions.

On February 25, 2005,  the Company  commenced  efforts to acquire Global General
Technologies  Inc., a California  corporation  engaged in the homeland  security
industry (the  "California  GGT"). To such end, the Company entered into a Share
Exchange  Agreement with the California GGT and the owners of all its issued and
outstanding shares of capital stock.  Pursuant to such Share Exchange Agreement,
at a closing for the transactions  contemplated  therein, the Company would have
acquired the  California  GGT by  purchasing  from its  stockholders  all of its
outstanding shares. In consideration  therefor, the Company would have issued to
the  California  GGT's  shareholders   shares  of  the  Company's  common  stock
representing  approximately 74.6% of the issued and outstanding share capital of
the Company on a fully-diluted basis.

The closing of such  transactions  was to take place on the second  business day
following the satisfaction or waiver of all conditions to the obligations of the
parties set forth in the  agreement,  including,  without  limitation,  that the
representations  and  warranties  of the  parties are true as of the date of the
closing and that no suit is pending or threatened against the California GGT. In
contemplation of its acquisition of the California GGT, in June 2005 the Company
changed its name from  "Knowledge  Transfer  Systems,  Inc." to "Global  General
Technologies, Inc."

The closing of the  transactions  was never held and,  on December 2, 2005,  the
Company  terminated the Share Exchange  Agreement.  Such termination was made in


                                       5
<PAGE>

accordance with the terms of the Share Exchange  Agreement,  which provided that
the  Company had the right to  terminate  the  agreement  if the  Company's  due
diligence  investigation  indicated that any of the information  provided by the
California  GGT was  inaccurate,  incomplete  or untrue in a material  way.  The
Company exercised its right to terminate  because the documents  provided by the
California   GGT  were   materially   incomplete.   The  Company  is   currently
contemplating commencing an action against the California GGT.

Proposed Transaction with Airspeak, Inc.

On January 26, 2006, the Company  entered into a Stock  Purchase  Agreement (the
"Agreement") with Airspeak,  Inc., a California  corporation  ("Airspeak"),  and
Migdat Hodzic, who is the principal shareholder and sole director and officer of
Airspeak. Pursuant to the Agreement, the Company agreed to acquire Airspeak at a
closing  to be held at a later  date by  purchasing  from Mr.  Hodzic all of his
17,500,000  shares of Airspeak's  common stock,  which according to Airspeak and
Mr.  Hodzic  represent  approximately  95% of the issued and  outstanding  share
capital of Airspeak.

Consummation  of the  transaction  at the closing will not take place unless and
until certain  conditions  have occurred.  The conditions to the closing include
the following:  the completion by the Company of its due diligence investigation
of Airspeak;  and the  preparation of audited  financial  statements of Airspeak
required  to be  filed  with  the  Securities  and  Exchange  Commission  on the
Company's Form 8-K in connection with the closing.

Pending the closing,  the Company agreed to provide to Airspeak a line of credit
in the amount of $30,000 for  working  capital  purposes.  At the  closing,  the
Company will purchase  from Mr.  Hodzic his shares of  Airspeak's  common stock,
which  represent 95% of the issued and outstanding  shares of Airspeak's  common
stock. In consideration therefor, the Company shall deliver to Mr. Hodzic at the
closing the following:  (a) $50,000 by certified  check or wire transfer,  minus
amounts loaned to Airspeak pursuant to its line of credit with the Company;  (b)
$180,000 by delivery of a promissory  note,  pursuant to which such amount shall
be paid in twelve monthly  installments of $15,000 each,  without interest;  and
(c) 750,000 shares of the Company's common stock (the  "Consideration  Shares").
The  Company  has not yet  delivered  any  funds or any other  consideration  to
Airspeak or Mr. Hodzic.



                                       6
<PAGE>

At closing,  Airspeak will provide, among other things, a schedule detailing all
its  liabilities.  As of execution of the  Agreement,  Airpseak  claimed to have
approximately  $150,000  of past due  balances,  consisting  of $50,000 in notes
payable,  $25,000 for a judgment  for past due rent and lost  rental  income and
$54,000  in  threatened  litigation  for  unpaid  inventory  invoices  and other
miscellaneous payables.

At the closing, the parties shall enter into an employment  agreement,  pursuant
to which Mr.  Hodzic shall be employed by Airspeak.  Such  employment  agreement
will  provide  that Mr.  Hodzic will  receive an annual  salary of $133,000  and
commissions as follows:  for each $1 million of personally  initiated and direct
sales of gaming  related  revenue  generated  during the 2 years after  closing,
100,000 shares of the Company shares of common stock,  prorated  commensurately;
5.5% of all  personally  initiated  and direct sales of gaming  related  revenue
generated at any time after said 2 year period;  5.5% of all non-gaming  revenue
directly  generated  by  Hodzic  and 5.5% of all  personally  initiated  outside
investment monies made into Airspeak.

The Agreement may be terminated by either party if the closing is not held on or
before April 26, 2006.  The Company may also  terminate the Agreement if its due
diligence  investigation indicates that any of the information provided is false
or reveals any information  that adversely  affects the value of Airspeak or Mr.
Hodzic's shares.

Pursuant  to the  Agreement,  Mr.  Hodzic  shall  have the option to sell to the
Company any of the Consideration  Shares from which all restrictive  legends are
properly removed pursuant to applicable laws. The purchase price for such shares
will be $1.00 per share,  payable  within seven to ten  business  days after the
ninety day period  after Mr.  Hodzic  notified  the  Company  that he desires to
exercise  his put  option.  The  purchase  of the  shares  shall  be paid by the
issuance of the Put Promissory Note.

H7 Security

In  addition  to seeking to acquire  profitable  companies,  the Company is also
pursuing and  implementing  a business  plan  pertaining  to  international  and
domestic  homeland  security.  The Company,  through its  subsidiary H7 Security
Systems,  Inc.,  a Nevada  corporation,  will  design,  implement  and  maintain
advanced intelligent  surveillance  systems/products for homeland security to be
deployed  in  defense  settings,  serving  as  early  warning  systems  for  the
protection  of  key  national   infrastructure  assets  for  both  domestic  and
international environments.

Management  believes that key national  infrastructure  assets are  constantly a
risk and represent a huge opportunity.  Accordingly,  the Company has decided to
focus developing and marketing early warning systems to protect oil refineries.

The Company's first product,  the Silent Soldier Video Surveillance  product was
recently  completed  and is ready to be  marketed.  This product  leverages  its


                                       7
<PAGE>

object-tracking  and intelligent  video software to determine the viability of a
threat, based on pre-determined  criteria. In connection with its 360 degrees of
view, its long-range capability enables ease of observation in the determination
of `qualified activity', This automated technology is equally effective at night
as it is in the  daytime,  providing  a remote  interdiction  system  that truly
defines  early-warning.  We intend to market and distribute the product  through
agents and sales representatives.

The Silent  Soldier has been  engineered  specifically  to be used at high value
large scale  facilities  such as oil  refineries,  pipeline,  port terminals and
military  installations.  Founded on intelligent  video,  advanced sensors and a
proprietary  seamless  communication  technology,  the system was  developed  to
provide  protection  through long range  threat  detection  and  identification.
Unlike current security systems,  this  early-warning  technology  distinquishes
itself by providing a preventative  security system, rather than one designed as
reactionary to attacks.

 The Company in an integrator of solutions and purchases off the shelf products.
Therefore the risk of lack of suppliers  and  materials is almost  non-existent.
For the development of proprietary software, various independent contractors are
available.

On March 30, 2006, the initial five stockholders of H7 exchanged their H7 shares
for newly  issued  shares of common  stock of the  Company,  so that H7 became a
wholly-owned  subsidiary  of the Company.  The issuance was done  pursuant to an
exemption from  registration as each of the five stockholders were affiliates of
H7. Mr.  Shneilbalg,  the sole  officer and  director of the  Company,  received
1,000,000 shares of the Company in said exchange.

Competition

Service companies such as SAIC and Logicon and aerospace-defense  companies such
as Lockheed,  Raytheon and  Northrup-Grumman,  and many other smaller  companies
have entered this market.

Intellectual Property

The Company  intends to file for patent and trademark  protection in the future.
Currently none of our development or products are protected.

Governmental Approvals; Governmental Regulation

In order to import or export defense products or services, International Traffic
in Arms Regulation certification is typically required. Management believes that
ITAR  regulations  will not be  necessary  as a  result  of the  integration  of
products and the type of command and control technology software being developed
by the Company.



                                       8
<PAGE>

Employees

The Company currently employs 3 full-time and 3 part-time employees.

ITEM 2.  PROPERTIES

The Company uses  approximately 500 square feet at its principal offices located
at 201 South Biscayne Boulevard,  28th Floor Miami Center, Miami, Florida 33131,
at a cost of $500 a  month.  This is a  month-to-month  lease  which  management
believes is adequate for the Company's  corporate  headquarters.  H7 is a tenant
occupying 2,147 square feet at 2055 Gateway Place,  San Jose,  California.  This
lease,  which  terminates  July 31, 2008, is $4,254 for the first year (February
2006 through July 31, 2007), $4,465.76 for the second year and $4,644.68 for the
third year.  The lease was  guaranteed by Appleby  Partners,  a New York limited
liability company.

ITEM 3.  LEGAL PROCEEDINGS

Greene Spring Company

On September 19, 2005,  after a hearing with notice to, and an opportunity to be
heard from, interested parties, the Dade County,  Florida Circuit Court, entered
an Order  declaring  that the  shares of the  Company's  common  stock  which it
planned to issue to Greene Spring Company ("Green Spring"), a creditor, would be
exempt from the registration  requirements of Section 5 of the Securities Act by
virtue of Section 3 (a) (10) of the Act. The  proceeding was initiated in August
of 2005  between  the Company and Greene  Spring,  which had claims  against the
Company in excess of $1,452,500, and the Company asked the Court to declare that
the plan by means of which the Company proposed to settle Greene Springs's claim
against the Company by issuing  shares of its common  stock to Greene  Spring in
exchange for those claims was fair. In so doing,  the Court  specifically  found
that, prior to entering its Judgment,  the Company had advised the Court that in
order  for it to  enter  such a  Judgment,  it  would  have  to  find  that  the
transaction  pursuant to which the Company planned to issue shares of its common
stock to Greene  Spring  would be fair to  Greene  Spring,  and the  Court  also
specifically  found that,  prior to entering its Judgment,  the Company had also
advised  the Court  that,  when  issuing  shares of its  common  stock to Greene
Spring,  the Company  would be relying on the  exemption  from the  registration
requirements  of Section 5 of the Securities Act set forth in Section 3 (a) (10)
of the Act.

Paging Plus Communications

The Company and Global General Technologies, Inc., a California corporation (the
"California   GGT"),   were  sued  by  Thomas  W.  Luczak   d/b/a   Paging  Plus
Communications  ("Luczak")  in the  Superior  Court of the State of  California,
County of Los  Angeles  on June 20,  2005.  As  discussed  below,  such suit was
dismissed without prejudice on September 12, 2005.



                                       9
<PAGE>

Luczak's  complaint  alleged that the  California GGT and Luczak entered into an
Asset Purchase  Agreement (the "Luczak  Agreement") on February 8, 2005, whereby
the California GGT agreed to purchase from Luczak certain assets in his business
known as Paging Plus  Communications.  The  complaint  further  alleged that the
California  GGT  breached the Luczak  Agreement  and failed to pay to Luczak the
purchase  price due under the  Luczak  Agreement,  which  consisted  of  certain
payments  totaling  $800,000 and the issuance to Luczak of 250,000 shares of the
common stock of the California GGT.  Luczak sought  specific  performance of the
Luczak Agreement, or, in the alternative, damages in the amount of $925,000 plus
attorney's fees and court costs.

The  Company was  alleged to be liable on the basis of an  incorrect  allegation
that the Company has acquired the California GGT. Although on March 4, 2005, the
Company and the California GGT entered into a Share Exchange Agreement, pursuant
to which the  Company  agreed to acquire  all of the  outstanding  shares of the
California  GGT in  exchange  for the  issuance  of a  specified  number  of the
Company's  shares of common stock,  such  transaction was never  consummated and
such Share  Exchange  Agreement  has been  terminated.  Out of the five separate
causes  of  action  set  forth  in the  complaint,  only a cause of  action  for
intentional/  negligent  misrepresentation  was directed against the Company. In
such cause of action, Luczak alleged that the Company misled Luczak by allegedly
refusing to perform under the Luczak Agreement,  failing to inform Luczak of the
Company's  alleged  acquisition  of the  California  GGT, and  allegedly  making
representations  that the assets of Paging Plus  communication  were part of the
Company's and the California GGT's "network."

The Company  believes  that the lawsuit had no merit  against the  Company.  The
Company  was  not a party  to the  Luczak  Agreement.  Moreover,  the  complaint
incorrectly  alleged  that the Company had  acquired the  California  GGT,  even
though the closing of the Share Exchange  Agreement  never took place.  The suit
was dismissed without prejudice on September 12, 2005.

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

No  matters  were  submitted  to a vote of  security  holders  during the fourth
quarter of the fiscal year covered by this report.

                                     PART II

ITEM 5. MARKET FOR COMPANY'S  COMMON  EQUITY,  RELATED  STOCKHOLDER  MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES

(a) MARKET INFORMATION.  The Company's Common Stock trades on the Bulletin Board
and Pink Sheets under the symbol  GLGT.OB.  The  following  table sets forth the


                                       10
<PAGE>

range of quarterly  high and low closing bid  information of the common stock as
reported on  http://www.bloomberg.com  during the year ending  December 31, 2005
and as reported on http://yahoo.finance.com  during the year ending December 31,
2004:

--------------------------------- ------------------------------------
       Financial Quarter                   Bid Information*
--------------------------------- ------------------------------------
   Year            Quarter            High Bid           Low Bid
------------ -------------------- ----------------- ------------------
2005         Fourth Quarter       $0.9              $2.25
------------ -------------------- ----------------- ------------------
             Third Quarter        $0.6              $0.9
------------ -------------------- ----------------- ------------------
             Second Quarter       $0.25             $1.0
------------ -------------------- ----------------- ------------------
             First Quarter        $1.00             $0.12
------------ -------------------- ----------------- ------------------
2004         Fourth Quarter       $0.25             $0.11
------------ -------------------- ----------------- ------------------
             Third Quarter        $2.00             $0
------------ -------------------- ----------------- ------------------
             Second Quarter       $0.01             $0.01
------------ -------------------- ----------------- ------------------
             First Quarter        $0.02             $0.01
------------ -------------------- ----------------- ------------------
* The quotations do not reflect  inter-dealer  prices,  without retail  mark-up,
mark-down or commission and may not represent actual transactions.

(b) HOLDERS.  On March 30, 2006, there were approximately 1391 holders of record
of the Company's common stock.

(c)  DIVIDENDS.  The Company has not declared or paid any cash  dividends on its
common  stock  nor does it  anticipate  paying  any in the  foreseeable  future.
Furthermore,  the Company  expects to retain any future  earnings to finance its
operations and expansion. The payment of cash dividends in the future will be at
the  discretion  of its Board of  Directors  and will depend  upon its  earnings
levels,  capital requirements,  any restrictive loan covenants and other factors
the Board considers relevant.

(d)  SECURITIES  AUTHORIZED FOR ISSUANCE UNDER EQUITY  COMPENSATION  PLANS.  The
Company has no equity compensation plans.

Recent  Sales  of  Unregistered  Securities;  Use of  Proceeds  from  Registered
Securities.

As of November 30, 2005,  the Company had sold an  aggregate  of  $1,835,000  in
original  principal amount of 8% Convertible  Promissory Notes (the "Convertible
Notes") due two years after issuance.  The Convertible  Notes are convertible at
the option of their holders,  at any time on or before their maturity,  in whole
or in part,  into shares of the  Company's  common  stock,  the number of shares
being determined by dividing the amount of the principal and interest that is to
be converted by $0.50.  The  Convertible  Notes were sold pursuant to an ongoing
private offering of up to $2,000,000 in principal amount of convertible notes by
the  Company.  The  foregoing  issuances  were made in  reliance  on Rule 506 of
Regulation  D  promulgated  under the  Securities  Act of 1933,  as amended (the
"Securities  Act").  The  Convertible  Notes were  offered  only to  "accredited
investors"  as  defined  in Rule  501 of  Regulation  D  promulgated  under  the
Securities Act. As of March 2006, all the Convertible Notes were converted to an


                                       11
<PAGE>

aggregate of 3,671,000  shares of common stock.  The issuance of said shares was
made pursuant to an exemption from the registration requirements of Section 5 of
the Securities Act set forth in Section 3 (a) (10) of the Act.  Mercer  Capital,
Ltd.  ("Mercer")  was  retained  by the Company as the  placement  agent for the
Offering.  Pursuant to the Note  Purchase  Agreements,  Mercer was paid fees and
expenses totaling $279,960.

In April 2005, the Company paid a restructuring  fee to a third party company in
the amount of $500,000 and received  $100,000 in cash. The Company issued a Note
for $600,000 that was  convertible  into common stock of the Company at $.07 per
share or 8,571,429  common  shares.  As of March 2006,  this Note has been fully
converted.

Purchases of equity securities by the issuer and affiliated purchasers.

None

ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Plan of Operation.

During the fiscal  years ended  December  31, 2005 and 2004,  the Company had no
business  operations or revenues.  Going forward,  the Company intends to pursue
and implement  the Company's  business  plan  pertaining  to  international  and
domestic  homeland  security.  The Company,  through its  subsidiary H7 Security
Systems,  Inc., a Nevada corporation,  will design,  implement and maintain high
tech  surveillance and warning systems for the prevention of terrorist  attacks.
The Company plans to introduce its proprietary integrated security systems which
will improve  perimeter safety of oil refineries and pipelines  worldwide during
the first quarter of 2006.

It is anticipated  that the system will be accomplished by utilizing an advanced
intelligent  software  technology  accompanied with existing available hardware,
including superior collection  devices,  e.g., video, audio, ground sensors etc.
The Company  intends to develop a  proprietary  Intelligent  Communication  Node
(ICN) to  configure  many forms of real time data for  analysis.  Such  analysis
could be forwarded to a central command center, to permit instantaneous response
decisions in the event terrorist activity occurs.

The  marketing   plans   initiated  by  the  Company  will  initially  call  for
arrangements  with  independent  sales  agents  from  China,  India,  Japan  and
Columbia,  who have expressed an interest in  representing  the Company in their
respective  countries.  The Company anticipates  initially focusing on marketing
and selling its products to oil refineries.

In addition,  the Company also intends to acquire  Airspeak,  Inc., a California
corporation ("Airspeak").  On January 26, 2006, the Company entered into a Stock


                                       12
<PAGE>

Purchase  Agreement (the "Agreement") with Airspeak,  and Migdat Hodzic,  who is
the principal shareholder and sole director and officer of Airspeak. Pursuant to
the Agreement.  At a closing that is to be held upon the satisfaction of certain
conditions,  the Company will  purchase from Mr. Hodzic his shares of Airspeak's
common  stock,  which  represent  95% of the  issued and  outstanding  shares of
Airspeak's common stock. In consideration therefor, the Company shall deliver to
Mr. Hodzic at the closing the following:  (a) $50,000 by certified check or wire
transfer,  subject to the cancellation of the $20,000 in escrow; (b) $180,000 by
delivery of a  promissory  note,  pursuant to which such amount shall be paid in
twelve monthly  installments of $15,000 each, without interest;  and (c) 750,000
shares of the Company's common stock.

At the closing, the parties shall enter into an employment  agreement,  pursuant
to which Mr.  Hodzic shall be employed by Airspeak.  Such  employment  agreement
will  provide  that Mr.  Hodzic will  receive an annual  salary of $133,000  and
commissions as follows:  for each $1 million of personally  initiated and direct
sales of gaming  related  revenue  generated  during the 2 years after  closing,
100,000 shares of the Company shares of common stock,  prorated  commensurately;
5.5% of all  personally  initiated  and direct sales of gaming  related  revenue
generated at any time after said 2 year period;  5.5% of all non-gaming  revenue
directly  generated  by  Hodzic  and 5.5% of all  personally  initiated  outside
investment monies made into Airspeak.

Financial Condition and Results of Operation.

FISCAL YEAR ENDED  DECEMBER 31, 2005 COMPARED TO FISCAL YEAR ENDED  DECEMBER 31,
2004.

In the fiscal  year  ending  December  31,  2005,  as in the fiscal  year ending
December 31, 2004, the Company had no business  operations  and,  therefore,  no
revenues.  The Company's operating expenses in 2005 amounted to $1,604,498,  and
in 2004 they had amounted to $356,069. In 2005, the Company's expenses increased
mainly  as a  result  of  professional  fees  incurred  in  connection  with the
Company's  efforts to negotiate  the  acquisition  of businesses in the homeland
security  industry.  In 2004,  the  Company's  expenses  consisted  primarily of
professional fees and comensation expense.

The Company had an  accumulated  deficit of $10,564,040 as of December 31, 2005,
compared  to  $7,240,462  as of  December  31,  2004.  The Company had a working
capital of $112,153 as of December 31, 2005,  compared to deficit of $210,199 as
of December 31, 2004.

FISCAL YEAR ENDED  DECEMBER 31, 2004 COMPARED TO FISCAL YEAR ENDED  DECEMBER 31,
2003.

The  Company  had an  accumulated  deficit as of  December  31, 2004 and 2003 of
$7,240,462 and $8,286,929,  respectively.  As of December 31, 2004 and 2003, the


                                       13
<PAGE>

Company had a working capital deficit of $210,199 and $108,302, respectively.

The Company had no revenues  during the fiscal years ended December 31, 2004 and
2003 because it had no business  operations during such fiscal years.  Operating
expenses increased by $332,221, to $356,069 for the twelve months ended December
31,  2004.  Such  expenses  consisted  of  accounting,  legal  and  compensation
expenses.

Liquidity and Capital Resources

Although the Company had issued an aggregate of $2,437,500 of notes during 2005,
such  proceeds  were used as  follows:  $145,450  for  payment of  compensation;
$358,952 for payment of consulting  fees;  $227,932 for payment of  professional
fees;  $249,710 for payment of commissions;  and $622,994 for payment of general
and  administrative  fees.  Our balance  sheet as of December 31, 2005  reflects
assets of $362,069.

We do not have  sufficient  resources to effectuate  our business.  We expect to
incur a minimum of  approximately  $2,500,000 in expenses during the next twelve
months of operations. We estimate that this will be comprised mostly of research
and development,  sales and marketing Additionally,  approximately $750,000 will
be needed for general  overhead  expenses such as for salaries,  corporate legal
and accounting fees,  office overhead and general working capital.  Accordingly,
we will have to raise the funds to pay for these expenses.

We will have to issue debt or equity or enter into a strategic  arrangement with
a third  party.  There  can be no  assurance  that  additional  capital  will be
available to us. We currently have no agreements, arrangements or understandings
with any person to obtain funds through bank loans, lines of credit or any other
sources.

Off Balance Sheet Arrangements.

None

ITEM 7.  FINANCIAL STATEMENTS

The Financial Statements are set forth immediately preceding the signature page.

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

None.

ITEM 8A.  CONTROLS AND PROCEDURES

Disclosure Controls and Procedures



                                       14
<PAGE>

Based on an evaluation  under the supervision and with the  participation of the
Company's  management as of a date within the end of the period  covered by this
Annual Report on Form 10-KSB,  the Company's chief  executive  officer and chief
financial  officer has  concluded  that the  Company's  disclosure  controls and
procedures  (as defined in Rules  13a-14(c) and 15d-14(c)  under the  Securities
Exchange Act of 1934,  as amended (the  "Exchange  Act") are effective to ensure
that  information  required to be  disclosed  by the Company in reports  that it
files or submits under the Exchange Act is recorded,  processed,  summarized and
reported within the time periods specified in Securities and Exchange Commission
rules and forms.

There were no significant changes in the Company's internal controls or in other
factors that could significantly affect these controls subsequent to the date of
their evaluation. There were no significant deficiencies or material weaknesses,
and therefore there were no corrective actions taken. However, the design of any
system  of  controls  is  based  in part  upon  certain  assumptions  about  the
likelihood  of future  events and there is no  certainty  that any  design  will
succeed in achieving its stated goal under all potential future  considerations,
regardless of how remote.

Internal Controls Over Financial Reporting

There  have  not  been any  changes  in the  Company's  internal  controls  over
financial  reporting  (as such term is defined in Rules  13a-15(f) and 15d-15(f)
under the Exchange Act) during the  Company's  most recent fiscal year that have
materially  affected,  or  are  reasonably  likely  to  materially  affect,  the
Company's internal controls over financial reporting.

ITEM 8B.  OTHER INFORMATION

None.

                                    PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
WITH SECTION 16(A) OF THE EXCHANGE ACT

Set forth below is the name, age and present principal occupation or employment,
and material  occupations,  positions,  offices or employments for the past five
years of our current directors and executive officers.

      NAME                    AGE                   POSITIONS AND OFFICES
-----------------      ------------------    -----------------------------------
Shmuel Shneibalg              35             President, Chief Executive Officer,
                                             Secretary, and Director



                                       15
<PAGE>

Mr. Shmuel Shneibalg became the President,  CEO, Secretary and a Director of the
Company  on  November  10,  2004.  Mr.  Shneibalg  has prior  experience  in the
construction and sales  businesses.  Since May 2001, Mr. Shneibalg has served as
the Vice President of Home Solutions  Health,  Inc., a public  consumer  product
company. From May 2001 until March 2005, Mr. Shneibalg served as Chairman, Chief
Executive  Officer,  Secretary  and Director of Safetek  International,  Inc., a
publicly  traded  company.  He has not been affiliated with any company that has
filed for bankruptcy within the last five years.

The  director  of the  Company  has been  elected to serve until the next annual
meeting of stockholders  and until his successor has been elected and qualified.
Officers are appointed by the Board of Directors and serve at the  discretion of
the Board.  The Company is not aware of any  proceedings  to which the Company's
officer or director,  or any  associate  of any such  officer or director,  is a
party  adverse to the  Company  or any of the  Company's  subsidiaries  or has a
material interest adverse to it or any of its subsidiaries.

Audit Committee  Financial Expert. The Board of Directors has not established an
audit committee and does not have an audit committee financial expert. The Board
is of the opinion that an audit committee is not necessary since the Company has
only one director and to date,  such director has been  performing the functions
of an audit committee.

Code of Ethics. The Company has not adopted a Code of Ethics because the Company
has only one director.

Section 16(a) Beneficial  Ownership Reporting  Compliance.  Section 16(a) of the
Securities  and Exchange Act of 1934,  as amended,  requires our  directors  and
executive officers and persons who beneficially own more than 10% of our Class A
Common Stock to file initial  reports of ownership and changes in ownership with
the  Securities  and Exchange  Commission.  These  persons and entities are also
required by Securities  and Exchange  Commission  regulations to furnish us with
copies of all Section  16(a) forms they file.  We believe,  based  solely on our
review of the copies of such forms and other written representations to us, that
during the fiscal year ended December 31, 2005, all reporting  persons  complied
with all applicable Section 16(a) filing requirements, other than Steve Bingaman
who failed to file Forms 4.

ITEM 10.  EXECUTIVE COMPENSATION

The  following  table  presents  certain  specific  information   regarding  the
compensation  of the Chief  Executive  Officer of the  Company,  during the last
three fiscal years. We have not paid any executive officer in excess of $100,000
(including salaries and benefits) during the years ended December 31, 2005, 2004
or 2003.




                                       16
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------
                                     SUMMARY COMPENSATION TABLE
------------------------------------------------------------------------------------------------------
NAME          FISCAL           ANNUAL COMPENSATION                  LONG-TERM COMPENSATION
AND            YEAR        SALARY    BONUS  OTHER              AWARDS          PAYOUTS   ALL OTHER
PRINCIPAL     COVERED        ($)      ($)  ANNUAL     RESTRICTED  SECURITIES    LTIP      COMPEN-
POSITION                                  COMPENS-      STOCK       UNDER-     PAYOUTS    SATION
                                           ATION       AWARD(S)     LYING       ($)         ($)
                                            ($)          ($)       OPTIONS/
                                                                     SARS
                                                                      (#)
(A)            (B)           (C)      (D)   (E)          (F)          (G)       (H)         (I)
------------------------------------------------------------------------------------------------------
<S>          <C>        <C>      <C>      <C>          <C>        <C>          <C>        <C>
Shmuel       2005(1)    $99,000  0        0            0          0            0          0
Shneibalg
------------------------------------------------------------------------------------------------------
             2004       0        0        0            0          0            0          0
------------------------------------------------------------------------------------------------------
Steven Burke2004(2)     0        0        0            0          0            0         0
------------------------------------------------------------------------------------------------------
            2003        0        0        0            0          0            0         0
------------------------------------------------------------------------------------------------------
</TABLE>

(1) Mr. Shmuel  Shneibalg has been serving as the Chief Executive  Officer since
November 10, 2004.

(2) Mr.  Steven Burke served as the  Company's  Chief  Executive  Officer  until
October 11, 2004.


No options were granted to any employee or executive  officer  during the fiscal
year  ended  December  31,  2005.  No  employee  or  executive  officer  has any
employment agreements with the Company.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following  table lists, as of March 26, 2005, the number of shares of Common
Stock beneficially owned by (i) each person or entity known to our Company to be
the beneficial owner of more than 5% of the outstanding  common stock; (ii) each
officer and director of our Company;  and (iii) all officers and  directors as a
group.  Information  relating to  beneficial  ownership  of common  stock by our
principal  shareholders  and management is based upon  information  furnished by
each  person  using  "beneficial  ownership"  concepts  under  the  rules of the
Securities and Exchange Commission.  Under these rules, a person is deemed to be
a  beneficial  owner of a security  if that person has or shares  voting  power,
which  includes  the power to vote or direct  the  voting  of the  security,  or
investment  power,  which includes the power to vote or direct the voting of the
security.  The person is also deemed to be a beneficial owner of any security of
which that person has a right to acquire  beneficial  ownership  within 60 days.
Under the Securities and Exchange  Commission rules, more than one person may be
deemed to be a  beneficial  owner of the same  securities,  and a person  may be
deemed to be a beneficial owner of securities as to which he or she may not have


                                       17
<PAGE>

any pecuniary beneficial  interest.  Except as noted below, each person has sole
voting and investment power.

The percentages  below are calculated based on 14,790,298 issued and outstanding
shares of Common Stock. Unless otherwise indicated, the business address of each
such  person is c/o  Global  General  Technologies,  Inc.,  201  South  Biscayne
Boulevard, 28th Floor Miami Center, Miami, FL 33131.

<TABLE>
<CAPTION>
Officers, Directors, 5% Shareholders                  No. of Shares        Beneficial Ownership
------------------------------------                  -------------        --------------------

<S>                                                   <C>                  <C>
Shmuel Shneibalg                                      2,293,224(1)         15.5%

All directors and executive officers as a group (1    2,293,224 (1)        15.5%
person)
</TABLE>

(1) Mr.  Shneibalg  and Mr.  Bingaman,  a former  officer  and  director  of the
Company,  were issued their shares  jointly in October 12,  2004.  Mr.  Bingaman
assigned his ownership to the shares to Mr. Shneibalg in October 2005

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

None.

ITEM 13.  EXHIBITS

Exhibit No.       Description
3.1      Certificate of Incorporation (1)
3.2      Bylaws (1)
4.1      Description  of  Capital  Stock   (contained  in  the   Certificate  of
         Incorporation and its amendments, filed as Exhibits 3.1 to 3.4).
10.1     Share Exchange Agreement among the Company and the H7 Shareholders
10.2     Stock Purchase  Agreement,  dated January 26, 2006,  among the Company,
         Airspeak Inc., and Migdat Hodzic (2)
31.1     Rule 13a-14(a)/15d14(a) Certifications
32.1     Section 1350 Certifications

(1) Previously  filed with the Company's  Registration  Statement on Form 10-SB,
filed with the SEC on  December  9, 1999,  as amended on March 1, 2000 and March
29, 2000
(2) Previously filed with the Company's Current Report on Form 8-K dated January
26, 2006 and filed with the SEC on January 31, 2006




                                       18
<PAGE>

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

Robison,  Hill & Company served as the Company's principal accountant during the
years ended  December 31, 2005 and December 31, 2004.  Their  pre-approved  fees
billed to the Company are set forth below:

                            FISCAL YEAR ENDING       FISCAL YEAR ENDING
                            DECEMBER 31, 2005         DECEMBER 31, 2004

Audit Fees                               $13,676                  $15,775
Audit Related Fees                             -                        -
Tax Fees                                    $124                     $142
                          -----------------------   ----------------------
All Other Fees                           $13,800                  $15,917
                          =======================   ======================

Audit Fees consists of fees billed for  professional  services  rendered for the
audits  of  our  consolidated  financial  statements,  reviews  of  our  interim
consolidated  financial  statements  included  in  quarterly  reports,  services
performed in connection  with filings with the Securities & Exchange  Commission
and related  comfort  letters and other  services that are normally  provided by
Robison,  Hill & Company in connection with statutory and regulatory  filings or
engagements.

Tax Fees consists of fees billed for  professional  services for tax compliance,
tax  advice  and tax  planning.  These  services  include  assistance  regarding
federal,  state and local tax compliance  and  consultation  in connection  with
various transactions and acquisitions.

As of  December  31,  2004,  the  Company  did  not  have  a  formal  documented
pre-approval policy for the fees of the principal accountant.






                                       19
<PAGE>

                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)

                                       -:-

                              FINANCIAL STATEMENTS
                                       AND
               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

                           DECEMBER 31, 2005 AND 2004





<PAGE>


                        GLOBAL GENERAL TECHNOLOGIES, INC.

                          INDEX TO FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
                                                                                                          PAGE

<S>                                                                                                       <C>
Report of Robison, Hill & Co., Independent Certified Public Accountants...................................F - 1

Balance Sheets  - December 31, 2005 and 2004..............................................................F - 2

Statements of Operations for the Years Ended December 31, 2005 and 2004,
     and the cumulative period from September 15, 2003 (Inception of Development Stage)
     to December 31, 2005  ...............................................................................F - 3

Statements of Stockholders' Equity for the Period From
     June 1, 2000 (inception) to December 31, 2005........................................................F - 4

Statements of Cash Flows for the Years Ended December 31, 2005 and 2004,
     and the cumulative period from September 15, 2003 (Inception of Development Stage)
     to December 31, 2005   ..............................................................................F - 7

Notes to the Financial Statements.........................................................................F - 8
</TABLE>


                           --------------------------



<PAGE>




               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS


To the Board of Directors and the Shareholders
Global General Technologies, Inc..
(Formerly Knowledge Transfer Systems, Inc.)
(A Development Stage Company)

         We have  audited  the  accompanying  balance  sheet of  Global  General
Technologies,  Inc. (Fomerly  Knowledge  Transfer Systems,  Inc.) (a development
stage  company) (the Company) as of December 31, 2005 and 2004,  and the related
statements of  operations,  and cash flows for the two years ended  December 31,
2005 and 2004 and the  statement  of  stockholders'  equity  from  June 1,  2000
(inception)  to  December  31,  2005.   These   financial   statements  are  the
responsibility of the Company's management.  Our responsibility is to express an
opinion on these financial statements based on our audit.

         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 that our
audit provides a reasonable basis for our opinion.

         In our opinion,  the  financial  statements  referred to above  present
fairly,  in all material  respects,  the  financial  position of Global  General
Technologies,  Inc. (Formerly  Knowledge Transfer Systems,  Inc.) (a development
stage  company)  as of  December  31,  2005 and 2004,  and the  results of their
operations  and their  cash  flows for the year 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 1 to the
financial statements,  the Company has suffered recurring losses from operations
and has a net capital  deficiency that raise substantial doubt about its ability
to continue as a going  concern.  Management's  plans in regard to these matters
are also  described  in Note 1. The  financial  statements  do not  include  any
adjustments that might result from the outcome of this uncertainty.



<PAGE>


F - 3





                                                    Respectfully submitted



                                                    /s/ Robison, Hill & Co.
                                                    Certified Public Accountants

Salt Lake City, Utah
March 30, 2006


                                     F - 1

<PAGE>


                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                               DECEMBER 31,         DECEMBER 31,
                                                                                   2005                 2004
                                                                             ------------------   ------------------
                                  ASSETS
<S>                                                                         <C>                  <C>
CURRENT ASSETS:
     Cash                                                                   $          331,819   $                -
                                                                             ------------------   ------------------
     Total Current Assets                                                              331,819
                                                                                                                  -

OTHER ASSETS:
     Deferred Charges                                                                   30,250                    -
                                                                             ------------------   ------------------

TOTAL ASSETS                                                                $          362,069   $                -
                                                                             ==================   ==================

                   LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
     Trade accounts payable                                                 $           19,666   $           10,199
     Escrow Advance                                                                    200,000              200,000
                                                                             ------------------   ------------------
     Total Current Liabilities                                                         219,666              210,199
                                                                             ------------------   ------------------

LONG TERM LIABILITIES:
     Convertible notes payable                                                         387,500                    -
     Beneficial Conversion Feature of notes payable                                   (368,320)                   -
                                                                             ------------------   ------------------
     Total Long Term Liabilities                                                        19,180                    -
                                                                             ------------------   ------------------

TOTAL LIABILITIES                                                                      238,846              210,199
                                                                             ------------------   ------------------

STOCKHOLDERS' EQUITY:
     Preferred stock - $0.001 par value;  10,000,000  shares authorized Series A
          convertible preferred stock; -0- shares
               issued and outstanding; $1.00 stated value                                    -                    -
          Series B convertible preferred stock; -0- shares
               issued and outstanding; $1,000.00 stated value                                -                    -
     Common stock - $0.001 par value; 100,000,000
          shares authorized; 12,237,869 and 2,547,869 shares
          shares outstanding                                                            12,237                2,547
     Additional paid-in capital                                                     11,275,026            7,627,716
     Notes receivable from stockholders                                               (600,000)            (600,000)
     Retained deficit                                                               (6,860,545)          (6,860,545)
     Deficit accumulated during development stage                                   (3,703,495)            (379,917)
                                                                             ------------------   ------------------

     TOTAL STOCKHOLDERS' EQUITY                                                       (123,223)            (210,199)
                                                                             ------------------   ------------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                  $          362,069   $                -
                                                                             ==================   ==================
</TABLE>


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

                                     F - 2

<PAGE>


                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                                                                             CUMULATIVE
                                                                                                                FROM
                                                                                                            SEPTEMBER 15,
                                                                   FOR THE               FOR THE                2003
                                                                  YEAR ENDED           YEAR ENDED           INCEPTION OF
                                                                 DECEMBER 31,         DECEMBER 31,           DEVELOPMENT
                                                                     2005                 2004                  STAGE
                                                              -------------------   ------------------  --------------------

<S>                                                          <C>                   <C>                   <C>
SALES                                                        $                 -   $                -    $                -
                                                              -------------------   ------------------    ------------------

OPERATING EXPENSES
     Compensation                                                        145,450              277,002               422,452
     Consulting                                                          358,952                    -               358,952
     Professional fees                                                   227,392               77,150               328,390
     Commissions                                                         249,710                    -               249,710
     General & Administrative                                            622,994                1,917               624,911
                                                              -------------------   ------------------    ------------------
Total Operating Expenses                                               1,604,498              356,069             1,984,415
                                                              -------------------   ------------------    ------------------

OTHER INCOME (EXPENSE)
     Interest Expense from Convertible Notes                          (1,239,080)                   -            (1,239,080)
     Write Down of Uncollectible Advances                               (480,000)                   -              (480,000)
                                                              -------------------   ------------------    ------------------
Total Other Income (Expense)                                          (1,719,080)                   -            (1,719,080)
                                                              -------------------   ------------------    ------------------

Income (Loss) from Continuing Operations                              (3,323,578)            (356,069)           (3,703,495)
                                                              -------------------   ------------------    ------------------

DISCONTINUED OPERATIONS
     Gain (Loss) on disposal of discontinued operations                        -            1,402,536                     -
                                                              -------------------   ------------------    ------------------
Income (Loss) from Discontinued Operations                                     -            1,402,536                     -
                                                              -------------------   ------------------    ------------------

NET INCOME (LOSS)                                            $        (3,323,578)  $        1,046,467    $       (3,703,495)
                                                              ===================   ==================    ==================

BASIC AND DILUTED INCOME (LOSS) PER SHARE:
Income (Loss) from Continuing Operations                     $             (0.87)  $            (0.47)
Income (Loss) from Discontinued Operations                   $                 -   $             1.84
                                                              -------------------   ------------------
Net Income (Loss)                                            $             (0.87)  $             1.37
                                                              ===================   ==================

WEIGHTED AVERAGE NUMBER OF COMMON SHARES
USED IN PER SHARE CALCULATION                                          3,837,896              763,554
                                                              ===================   ==================
</TABLE>



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


                                     F - 3

<PAGE>



                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                        STATEMENT OF STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>
                                                                                                                 CUMULATIVE
                                                                                                                    FROM
                                                                                           NOTES                SEPT 15, 2003
                                                                            ADDITIONAL  RECEIVABLE               INCEPTION OF
                                         PREFERRED STOCK    COMMON STOCK      PAID-IN      FROM       RETAINED   DEVELOPMENT
                                         --------------  ----------------
                                         SHARES  AMOUNT   SHARES   AMOUNT     CAPITAL  STOCKHOLDERS   DEFICIT      STAGE
                                         ------  ------  --------  ------  ----------  ------------  ----------  -----------
<S>                                      <C>     <C>      <C>      <C>     <C>         <C>           <C>         <C>
Stock Issued for net assets                   -  $    -   166,237    $166  $3,583,834  $          -  $        -  $         -
   Acquired, June 1, 2000
Expenses paid by shareholder                  -       -       728       1     231,295             -           -            -
Cash contributed by shareholder               -       -       626       1     198,999             -           -            -
Notes payable and accrued interest
   assumed by shareholder                     -       -       624       1     198,400             -           -            -
Net loss for the period                       -       -         -       -           -             -  (1,177,091)           -
                                         ------  ------  --------  ------  ----------  ------------  ----------  -----------

BALANCE - DECEMBER 31, 2000                   -       -   168,215     169   4,212,528             -  (1,177,091)           -
Expenses paid by shareholder                  -       -     1,097       1     348,621             -           -            -
Accounts payable and interest paid
   by shareholder                             -       -     1,725       2     548,012             -           -            -
Assumption of note payable
   from shareholder                           -       -      (78)       -    (25,000)             -           -            -
Shares issued for services                    -       -     8,000       8     199,992             -           -            -
Shares issued for notes receivable
   from stockholders, $.05 per share          -       -    46,100      46   1,152,454   (1,042,500)           -            -
Shares issued for notes receivable
   from stockholders, $.10 per share          -       -     5,030       5     251,495     (181,500)           -            -
Services received in satisfaction of
   notes receivable from stockholders         -       -         -       -           -       360,000           -            -
Acquisition of GoThink!.com                   -       -       496       -           -             -           -            -
Private placement offering for cash           -       -     1,680       2     209,998             -           -            -
Foreign private placement offering
   for cash                                   -       -       473       -      21,570             -           -            -
Cancellation of common stock and
   related note receivable                    -       -       (5)       -       (250)           250           -            -
Cash received on notes receivable
   from stockholders                          -       -         -       -           -        75,000           -            -
</TABLE>

                                      F - 4

<PAGE>


                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                        STATEMENT OF STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                                                                                                         CUMULATIVE
                                                                                                                           FROM
                                                                                                                       SEPTEMBER 15,
                                                                                                  NOTES                     2003
                                                                                  ADDITIONAL    RECEIVABLE              INCEPTION OF
                                            PREFERRED STOCK      COMMON STOCK       PAID-IN       FROM       RETAINED    DEVELOPMENT
                                         --------------------  -----------------
                                           SHARES     AMOUNT    SHARES    AMOUNT    CAPITAL   STOCKHOLDERS    DEFICIT       STAGE
                                         ---------  ---------  -------  --------  ----------  ------------  ------------  ----------
<S>                                      <C>        <C>        <C>      <C>       <C>         <C>           <C>           <C>
Net loss for the year                            -  $       -        -  $     -   $        -  $          -  $(3,385,139)  $      -
                                         ---------  ---------  -------  --------  ----------  ------------  ------------  ----------

BALANCE - DECEMBER 31, 2001                      -          -  232,733      233    6,919,420     (788,750)   (4,562,230)         -
Issuance of common stock                         -          -   18,112       18      311,687             -             -         -
Issuance of common stock for
   Services provided                             -          -    6,100        6      113,494             -             -         -
Cancellation of common stock
   And related note receivable                   -          -    (500)      (1)     (24,999)        25,000             -         -
Issuance of Series A preferred
   Stock for software                      875,000    875,000        -        -            -             -             -         -
Cancellation of note receivable
   From shareholders                             -          -        -        -    (163,750)       163,750             -         -
Net Income (loss) for year                       -          -        -        -            -             -   (3,603,276)         -
                                         ---------  ---------  -------  --------  ----------  ------------  ------------  ----------

BALANCE - DECEMBER 31, 2002                875,000    875,000  256,445      256    7,155,852     (600,000)   (8,165,506)         -
Issuance of common stock for
   Services provided                             -          -    2,000        2        1,998             -             -         -
Cancellation of common stock
   For capitalized software                      -          -  (3,800)      (4)      (7,596)             -             -         -
Cancellation of preferred stock
   For content license and
   Resale agreement                      (875,000)  (875,000)        -        -            -             -             -         -
Capital contributed by shareholder               -          -        -        -      227,500             -             -         -
Net Income (loss) for year                       -          -        -        -            -             -      (97,575)  (23,848)
                                         ---------  ---------  -------  --------  ----------  ------------  ------------  ----------

BALANCE - DECEMBER 31, 2003                      -          -  254,645      254    7,377,754     (600,000)   (8,263,081)  (23,848)
</TABLE>



                                     F - 5

<PAGE>

                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                        STATEMENT OF STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                                                                                                        CUMULATIVE
                                                                                                                           FROM
                                                                                            NOTES                      SEPT 15, 2003
                                                                           ADDITIONAL    RECEIVABLE                    INCEPTION OF
                                   PREFERRED STOCK      COMMON STOCK         PAID-IN        FROM        RETAINED        DEVELOPMENT
                                   ---------------  --------------------
                                   SHARES   AMOUNT    SHARES     AMOUNT      CAPITAL    STOCKHOLDERS     DEFICIT           STAGE
                                   ------  -------  ----------  --------  ------------  ------------  --------------  --------------

<S>                                <C>     <C>       <C>        <C>       <C>           <C>               <C>         <C>
Shares issued for services              -  $     -   2,293,224  $  2,293  $    249,962  $          -      $        -  $          -
Net Income (loss) for year              -        -           -         -             -             -       1,402,536      (356,069)
                                   ------  -------  ----------  --------  ------------  ------------  --------------  --------------

BALANCE - DECEMBER 31, 2004             -        -   2,547,869     2,547     7,627,716     (600,000)     (6,860,545)      (379,917)
Beneficial Conversion
 Feature of Convertible Notes           -        -           -         -     1,607,000             -               -              -
Shares issued for convertible
 notes at $.07 per share                -        -   6,500,000     6,500       448,500             -               -              -
Shares issued for convertible
 notes at $.50 per share                -        -   3,190,000     3,190     1,591,810             -               -
Net Income (loss) for year              -        -           -         -             -             -               -    (3,323,578)
                                   ------  -------  ----------  --------  ------------  ------------  --------------  --------------

BALANCE - DECEMBER 31, 2005             -  $     -  12,237,869  $ 12,237  $ 11,275,026  $  (600,000)  $  (6,860,545)  $ (3,703,495)
                                   ======  =======  ==========  ========  ============  ============  ==============  =============+
</TABLE>




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


                                     F - 6

<PAGE>


F - 7

                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                                  CUMULATIVE
                                                                                                     FROM
                                                                                                 SEPTEMBER 15
                                                            FOR THE             FOR THE              2003
                                                           YEAR ENDED          YEAR ENDED        INCEPTION OF
                                                          DECEMBER 31,        DECEMBER 31,        DEVELOPMENT
                                                              2005                2004               STAGE
                                                       ------------------- ------------------- ------------------
<S>                                                    <C>                  <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss                                               $      (3,323,578)   $       1,046,467   $    (3,703,495)
Adjustments to reconcile net loss to net cash
  used in operating activities:
     Interest Expense from Convertible Notes                    1,238,680                   -          1,238,680
     Write Down of Uncollectible Advances                         480,000                   -            480,000
     Common stock issued for services                                   -             252,255            252,255
     Gain on disposal of discontinued operations                        -         (1,402,536)                  -
Changes in Assets and Liabilities
     Deferred charge                                             (30,250)                   -           (30,250)
     Trade accounts payable                                         9,467            (96,186)           (62,871)
                                                       ------------------- ------------------- ------------------
Net cash used in operating activities                         (1,625,681)           (200,000)        (1,825,681)
                                                       ------------------- ------------------- ------------------

CASH FLOWS FROM INVESTING ACTIVITIES
Cash Advances to GGT                                            (480,000)                   -          (480,000)
                                                       ------------------- ------------------- ------------------
Net cash provided by (used in) investing activities             (480,000)                   -          (480,000)
                                                       ------------------- ------------------- ------------------

CASH FLOWS FROM FINANCING ACTIVITIES
Escrow advance                                                          -             200,000            200,000
Convertible note financing                                      2,437,500                   -          2,437,500
                                                       ------------------- ------------------- ------------------

Net cash provided by (used in) financing activities             2,437,500             200,000          2,637,500
                                                       ------------------- ------------------- ------------------

Net Increase/(Decrease) In Cash                                         -                   -
Cash at Beginning of Period                                             -                   -
                                                       ------------------- ------------------- ------------------
Cash at End of Period                                  $          331,819   $               -   $         331,819
                                                       =================== =================== ==================

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for income taxes                              $               -   $               -   $               -
Cash paid for interest                                  $             400   $               -   $             400

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Beneficial Conversion Feature of Convertible Notes      $       1,607,000   $               -   $       1,607,000
Write Down of Uncollectible Advances                    $         480,000   $               -   $         480,000
Common stock issued for services provided               $               -   $         252,255   $         252,255
</TABLE>


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

                                     F - 7

<PAGE>


                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

ORGANIZATION  -  On  August  1,  1992   Missaticum,   Inc.  dba  QtrainCorp  was
incorporated under the laws of the State of California.  On October 4, 1996, its
name was  changed  to KT  Solutions,  Inc.  It was  formed  for the  purpose  of
developing  technology based training  solutions.  It creates software  programs
that are used to teach and train individuals how to operate popular business and
home use software programs.

On June 1, 2000, the former  shareholders of KT Solutions,  Inc.  entered into a
stock exchange  agreement with enSurge,  Inc. (enSurge) whereby enSurge acquired
all of the  outstanding  common  shares of KT  Solutions,  Inc.  from its former
shareholders in exchange for the issuance of 500,000 shares of enSurge's  common
stock and options to purchase  250,000 shares of enSurge's common stock at $4.00
per share.  In addition,  enSurge issued  warrants to purchase  50,000 shares of
common  stock at $0.10 per share as a finder's  fee.  As a result,  the  Company
became a wholly-owned subsidiary of enSurge, Inc.

The acquisition of KT Solutions, Inc. was recorded by enSurge using the purchase
method of accounting.  The 500,000 common shares issued and the 300,000  options
issued were  recorded at their fair values of  $2,240,000  ($4.48 per share) and
$1,120,000,  respectively.  The value of the  options was  determined  using the
Black-Scholes  option  pricing model with the following  assumptions:  risk free
interest rate of 6.0%,  expected  dividend  yield of 0%,  volatility of 577% and
expected life of 5 years.

For  financial  reporting  purposes,  KT  Solutions,  Inc. was  considered a new
reporting entity on June 1, 2000. The accompanying  financial statements reflect
the  operations of KT Solutions,  Inc. from June 1, 2000. The purchase price was
allocated to the assets and  liabilities at their fair value.  The excess of the
purchase price over the fair value of the net assets acquired was $4,342,278 and
was allocated to goodwill.  Goodwill was being  amortized over five years by the
straight-line method.

REORGANIZATION - On April 25, 2001, enSurge,  Inc.  consummated a stock exchange
agreement with GoThink!.com,  Inc., a publicly held Nevada corporation,  whereby
all of the  1,368,387  outstanding  common  shares of KT  Solutions,  Inc.  were
transferred  to   GoThink!.com   Inc.  in  exchange  for  8,000,000   shares  of
GoThink!.com,  Inc.  common  stock.  As a  result  of  the  stock  exchange,  KT
Solutions,  Inc.  became  a  wholly-  owned  subsidiary  of  GoThink!.com,  Inc.
GoThink!.com, Inc. had 496 shares of common stock outstanding prior to the stock
exchange but after a 1-for-100 reverse stock split.

The stock exchange has been accounted for as the reorganization of KT Solutions,
Inc.  Accordingly,  the accompanying  financial statements have been restated to
reflect the effects of the 5.84-for-1  equivalent stock split that resulted from
8,000,000  shares of  GoThink!.com,  Inc. being issued in exchange for 1,368,387
previously outstanding shares of KT Solutions,  Inc.  GoThink!.com,  Inc. had no
assets or operations prior to or at the date of the reorganization. Accordingly,
the acquisition of GoThink!.com,  Inc. was not considered a business combination
but was  considered  the issuance of common stock in exchange for the assumption
of  liabilities.   The  496  common  shares  held  by  the  GoThink!.com,   Inc.
shareholders  that remained  outstanding were recorded as issued in exchange for
the assumption of $57,560 of accounts  payable.  The operations of GoThink!.com,
Inc. have been included in the accompanying  financial  statements from April 1,
2001  (which  was  the   beginning  of  the   accounting   period  during  which
GoThink!.com, Inc. was purchased).




                                     F - 8
<PAGE>



                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES
(Continued)

On April 23, 2001,  the articles of  incorporation  of  GoThink!.com,  Inc. were
amended  to change  its name to  Knowledge  Transfer  Systems,  Inc.  (hereafter
referred to as the Company) and to modify the authorized capital for the Company
such that the Company is  authorized  to issue  10,000,000  shares of  preferred
stock  having a par value of $0.001 per share and  100,000,000  shares of common
stock  having a par  value of  $0.001  per  share.  The  accompanying  financial
statements have been adjusted to reflect the change in the authorized capital.

BANKRUPTCY  OF  SUBSIDIARY  - On  September  15,  2003,  KT  Solutions,  Inc., a
California  corporation  and wholly owned  subsidiary of the Company,  filed for
Chapter 7 bankruptcy in Alameda County, Oakland, California.

CHANGE IN CONTROL - An Information Statement was filed on or about June 3, 2005,
to the holders of record as of the close of business on March 31, 2005 of shares
of the common stock (the "Common  Stock") of Knowledge  Transfer  Systems,  Inc.
(the "Company"), a Nevada corporation.  The purpose of the Information Statement
was to notify such  stockholders  that on April 5, 2005, the Company  received a
written  consent in lieu of a meeting of  stockholders  (the "Written  Consent")
from the holders of a majority of the  outstanding  shares of Common  Stock (the
"Majority Stockholders").  The Majority Stockholders are holders of 2,293,547 of
the issued and outstanding  shares of Common Stock  (representing  approximately
90%). The Written Consent  approves the Certificate of Amendment to the Articles
of  Incorporation  of the Company (the  "Certificate of Amendment")  pursuant to
which the Company's name will be changed to "Global  General  Technologies  (the
"Name Change").

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

BUSINESS  CONDITION - The Company has an accumulated  deficit as of December 31,
2005 and 2004 of  $10,564,040  and  $7,240,462,  respectively,  and no source of
revenue. These conditions raise substantial doubt about the Company's ability to
continue as a going concern. The Company needs to obtain additional financing to
fund  payment of  obligations  and to provide  working  capital for  operations.
Management is seeking additional financing. In December 2005, the Company formed
H7 Security  Systems,  Inc. a Nevada  corporation.  In January 2006, the Company
signed a contract to purchase the  outstanding  common  stock of AirSpeak,  Inc.
("see  "Subsequent  Events")  for  750,000  shares  of the  Company's  stock and
$230,000 in cash payable over twelve months.  Management  believes these efforts
will generate  sufficient cash flows from future operations to pay the Company's
obligations and working  capital needs.  There is no assurance that the AirSpeak
transaction will close. The financial  statements do not include any adjustments
relating to the  recoverability  and classification of asset carrying amounts or
the amount and  classification  of  liabilities  that  might  result  should the
Company be unable to continue as a going concern.








                                     F - 9

<PAGE>


                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES
(Continued)

NATURE OF OPERATIONS - The Company,  through its subsidiary H7 Security Systems,
Inc.,  is involved in  developing  and  marketing  proprietary  technology-based
homeland security products. With the acquisition of AirSpeak, management intends
to expand the sales of the Flair  product  line in the various  markets that are
currently being served and incorporate the Flair technology into its proprietary
homeland  security  product line. The Company intends to acquire other interests
in the homeland security industry.  As of September 15, 2003, the Company was in
the development  stage. On October 12, 2004, the Company  disposed of its wholly
owned subsidiary KT Solutions,  Inc. as part of a stock purchase  agreement that
resulted in a change in control of the Company.

FINANCIAL   INSTRUMENTS-The   carrying  amounts  reported  in  the  accompanying
financial  statements for cash,  trade  accounts  payable,  advances,  and notes
payable  approximate  their fair values  because of the  immediate or short-term
maturities of these financial instruments.

PRINCIPLES OF CONSOLIDATION - The consolidated  financial statements include the
accounts of Global General  Technologies,  Inc. and its wholly owned subsiary H7
Security Systems,  Inc. The results of subsidiaries  acquired or sold during the
year are  consolidated  from their effective dates of acquisition  through their
effective  dates of  disposition.  All  material  inter-  company  accounts  and
transactions have been eliminated.  On October 12, 2004, the Company disposed of
its wholly  owned  subsidiary  KT  Solutions,  Inc. as part of a stock  purchase
agreement that resulted in a change in control of the Company.

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

NET LOSS PER  COMMON  SHARE - Basic net loss per  common  share is  computed  by
dividing net loss by the weighted  average  number of common shares  outstanding
during the year.  Diluted net loss per common share ("Diluted EPS") reflects the
potential  dilution  that could  occur if stock  options or other  common  stock
equivalents  were exercised or converted into common stock.  The  computation of
Diluted EPS does not assume exercise or conversion of securities that would have
an  anti-dilutive  effect on net loss per common share.  As of December 31, 2005
the company had convertible  notes payable  convertible into 2,617,857 shares of
common stock.

CONCENTRATION OF CREDIT RISK - The Company has no significant  off-balance-sheet
concentrations  of  credit  risk such as  foreign  exchange  contracts,  options
contracts or other  foreign  hedging  arrangements.  The Company  maintains  the
majority of its cash  balances with one  financial  institution,  in the form of
demand deposits.

INCOME TAXES - The Company  accounts for income  taxes under the  provisions  of
SFAS No. 109, "Accounting for Income Taxes." SFAS No.109 requires recognition of
deferred  income tax assets and  liabilities  for the expected future income tax
consequences,  based on enacted tax laws, of temporary  differences  between the
financial reporting and tax bases of assets and liabilities.

NOTE 2 - STOCKHOLDERS' EQUITY

On July 29, 2004, the Company  authorized a 1 for 500 reverse stock split of the
Company's  common  stock.  The stock  split  provided  that in no case shall any
shareholders  holdings  be reduced to less than 100 shares.  The  reverse  stock
split  reduced  the number of  outstanding  common  shares  from  49,843,268  to
254,645.  All  references  to  the  Company's  common  stock  in  the  financial
statements have been restated to reflect the reverse stock split.


                                     F - 10



<PAGE>


                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS


NOTE 2 - STOCKHOLDERS' EQUITY (CONTINUED)

On October 12, 2004, the Company issued 2,293,224 shares of common stock with an
estimated market value of $0.11 per share (based on the OTC quoted market price)
for services  pursuant to a Stock Purchase  agreement which resulted in a change
in control of the Company. Compensation expense of $252,255 has been recorded in
connection with this transaction.

In April 2005, the Company issued a Note for $600,000 that was convertible  into
common stock of the Company at $.07 per share or 8,571,429  common  shares.  The
intrinsic  value of the  beneficial  conversion  feature has been  calculated at
$600,000  and is being  amortized  over the 2 year term of the  debt,  or as the
notes are converted,  as interest expense.  As of December 31, 2005, $450,000 of
the note has been converted into 6,500,000  shares of common stock, and interest
expense of $462,000  has been  recorded.  As of March  2006,  this Note has been
fully converted.

In April 2005, the Company  commenced an offering to raise $2,000,000 by selling
8% Convertible Note. The Company raised $1,837,500 convertible at $.50 per share
or 3,675,000  common shares.  The intrinsic  value of the beneficial  conversion
feature has been calculated at $1,007,000 and is being amortized over the 2 year
term of the debt,  or as the notes are  converted,  as interest  expense.  As of
December 31, 2005,  $1,600,000 of the notes have been  converted  into 3,190,000
shares of common  stock,  and interest  expense of $776,680  has been  recorded.
Isuance  costs in the form of  commisions of $279,960 were paid to a third party
in connection with issuance of these notes. The isue costs are being reported in
the  accompanying  balance sheet for December 31, 2005 and amortized  over the 2
year life of the note or as the notes are  converted.  As of December  31, 2005,
$249,710 has been recorded as commission  expense in the accompanying  statement
of operations  for the year ended December 31, 2005. As of March 2006, the notes
have been fully converted.

NOTE 3 - DISCONTINUED OPERATIONS

On September 15, 2003, KT Solutions,  Inc., a California  corporation and wholly
owned  subsidiary  of the  Company,  filed for Chapter 7  bankruptcy  in Alameda
County,  Oakland,  California.  On October 12, 2004, the Company disposed of its
wholly owned subsidiary KT Solutions, Inc. as part of a stock purchase agreement
that resulted in a change in control of the Company. This disposal resulted in a
gain on disposal of discontinued operations of $1,402,536.
 As of December 31, 2004, KT Solutions, Inc. had no assets or liabilities.

NOTE 4 - RELATED PARTY TRANSACTIONS

On April 24, 2001,  Mr. Steve Burke,  former  President  and CEO of the Company,
purchased  24,000  shares of Common  Stock of the  Issuer at a price of $.05 per
share utilizing a loan, in the principal amount of $600,000,  made pursuant to a
Promissory  Note dated April 25, 2001.  According to the terms and conditions of
the Promissory  Note, Mr. Burke agreed to pay the Company a principal sum of six
hundred thousand dollars ($600,000) together with interest on the unpaid balance
thereof at a rate of six percent  (6%) per annum with the  principal of the note
due in full by December 31, 2004. No interest is accrued on the note until it is
paid. The notes  receivable are partial  recourse notes in that each investor is
unconditionally  obligated to pay 10% of the amount of their note in addition to
the return of the shares of common stock in the event of default under the terms
of the notes.



                                     F - 11

<PAGE>

                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

NOTE 5 - CURRENT LIABILITIES

On  October  12,  2004,  pursuant  to a Share  Purchase  Agreement  with  Shmuel
Shneibalg and Steven W.  Bingaman,  Mr.  Shneibalg and Mr.  Bingaman were issued
2,293,224  shares of common stock in exchange for  services.  Upon entering into
this agreement, $200,000 was deposited into an escrow account and was to be used
to pay the debt and expenses of the Company.  This  $200,000 was advanced to the
Company by Global General Technology  ("GGT"). On February 25, 2005, the Company
entered  into a Share  Exchange  Agreement  with GGT,  whereby the Company  will
acquire  all of the  issued  and  outstanding  shares  of  GGT in  exchange  for
15,000,000 shares of the Company. At the closing of this agreement,  the advance
of  $200,000  would be  absorbed  in the  acquisition.  In the  event  the share
exchange  does not take place,  the Company would owe the $200,000 to GGT. As of
December  31,  2005,  the  advance of  $200,000  is a current  liability  of the
Company.

NOTE 6 - ADVANCES

On February 25, 2005, the Company  entered into a Share Exchange  Agreement with
Global General  Technologies,  Inc. ("GTT"),  whereby the Company was to acquire
all of the issued  and  outstanding  shares of GGT in  exchange  for  15,000,000
shares of the Company. In December 2005,  Management  terminated the acquisition
with GGT.  As part of the  agreement,  the company  advanced  $480,000 to Global
General  Technologies,  Inc.(California).  As of December 31, 2005, the advances
are  considered  uncollectible  and have been  written  off in the  accompanying
statement of operations for the year ended December 31, 2005.

NOTE 7 - INCOME TAXES

         Deferred income tax assets consisted of the following:

                                       December 31,          December 31,
                                           2005                  2004
                                     ------------------    ------------------

Net operating loss carryforwards   $           917,926   $           209,061
Less valuation allowance                     (917,926)             (209,061)
                                     ------------------    ------------------
Deferred income tax assets         $                 -   $                 -
                                     ==================    ==================

         The  valuation  allowance  increased  $708,865  in 2005  and  increased
$36,076  in  2004,   respectively.   At  December  31,  2005,  the  Company  has
consolidated net operating loss carryforwards for federal income tax purposes of
$2,699,783.  These net  operating  loss  carryforwards  expire at various  dates
beginning in 2018 through 2025. Due to the uncertainty  with respect to ultimate
realization,  the Company has established a valuation allowance for all deferred
income tax assets.

The  provision  for income  taxes  differs  from the amount  computed  using the
federal US statutory income tax rate as follows:

                                              December 31,    December 31,
                                                  2005            2004
                                            ---------------  --------------
Provision (Benefit) at US Statutory Rate    $  (1,130,017)   $   (121,063)
Net Operating Losses
Non-Deductible Expenses                            421,152          84,987
Increase (Decrease) in Valuation Allowance         708,865          36,076
                                            ---------------  --------------
                                             $           -   $           -
                                            ===============  ==============

         The Company  evaluates its valuation  allowance  requirements  based on
projected future operations.  When  circumstances  change and causes a change in
management's  judgement  about the  recoverability  of deferred tax assets,  the
impact of the change on the valuation is reflected in current income.


                                     F - 12

<PAGE>

                        GLOBAL GENERAL TECHNOLOGIES, INC.
                   (FORMERLY KNOWLEDGE TRANSFER SYSTEMS, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

NOTE 8 - LONG TERM DEBT

                                                 DECEMBER 31,
                                                     2005
                                               -----------------
8% Convertible Note due April 2007
     Conversion price $.07                    $         150,000

8% Convertible Note due April 2007
     Conversion price $.50                              237,500
                                               -----------------

         Total Debt                           $         387,500
                                               =================



NOTE 9 -SUBSEQUENT EVENTS

In January,  the  Company  entered  into a contract to purchase  the 100% of the
common stock of AirSpeak,  Inc., a  California  corporation  for 750,000  common
shares of the Company plus  $230,000 in cash payable over the next twelve months
after the closing.  In addition,  during January and February 2006, the $387,500
balances of the Notes  outstanding  as of December 31, 2005 were  converted into
2,546,429 shares of the Company's common stock.




                                     F - 13


<PAGE>



                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the Company has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.

Dated: March 30, 2006


                GLOBAL GENERAL TECHNOLOGIES, INC.


                By: /s/ Shmuel Shneibalg
                ---------------------------------------------------------------
                Name: Shmuel Shneibalg
                ---------------------------------------------------------------
                Title:  President, Chief Executive Officer, Secretary, and
                Director







                                       20