**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**





FORM
      10-KSB/A





x ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES


EXCHANGE
      ACT OF 1934





For
      the
      fiscal year ended December 31, 2007





Or





o 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 incorporation)
            (IRS
                Employer Identification No.)





10120
      S
      Eastern Avenue


Suite
      200


Henderson,
      Nevada 89052


(Address
      of principal executive offices)





1-877-800-4660


(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 (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 o





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. o





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





The
      issuer’s revenues for its fiscal year ended December 31, 2007, were
      $0.00.





Based
      on
      the closing sales price of the Common Stock on December 31, 2007, 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 December 31, 2007 (a date within
      the past 60 days) was $ 2,482,252 .





The
      number of shares outstanding of the issuer’s class of common stock outstanding
      as of December 31, 2007, was 76,376,995 shares.





Documents
      Incorporated By Reference:     None




Transitional
      Small Business Issuer Disclosure Format (check one): Yes o No x .


2


**EXPLANATORY
      NOTE**





Global
      General Technologies, Inc. is filing this Amendment No. 2 to its
      Annual Report on Form 10-KSB for the year ended December 31, 2007 (this
“Amendment No. 2 ”),
      as
      filed with the U.S. Securities and Exchange Commission (the “Commission”) on April 15, 2008 (the “Original Annual Report”).
      This Amendment reflects modifications that we have made in the light of comments
      from the staff of the Commission in connection with its review of our Original
      Annual Report **.**





Pursuant
      to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, as a
      result of this Amendment No.  2, the
      certifications pursuant to Section 302 and Section 906 of the Sarbanes-Oxley
      Act
      of 2002, filed and furnished respectively, as exhibits to the Original Annual Report, have been
      re-executed and re-filed as of the date of this Amendment No. 1 and are included
      as Exhibits 31.1, 31.2 and 32.1 hereto.





No
      attempt has been made to update, in this Amendment No . 2, the
      disclosure presented in the Original Annual Report. Accordingly, this Amendment
      No. 2 should
      be read in conjunction with our filings with the Commission subsequent to the
      date of filing of the Original Annual Report.




**INDEX**





PagePART
                IItem
                1.
            Description
                of Business
            5Item
                2.
            Description
                of Property
            6Item
                3.
            Legal
                Proceedings
            6Item
                4.
            Submission
                of Matters to a Vote of Security Holders
            7PART
                IIItem
                5.
            Market
                for Common Equity and Related Stockholder Matters.
            8Item
                6.
            Management’s
                Discussion and Analysis or Plan of Operation
            9Item
                7.
            Financial
                Statements.
            9Item
                8.
            Changes
                In and Disagreements with Accountants on Accounting and Financial
                Disclosure.
            13Item
                8A.
            Controls
                and Procedures
            13Item
                8B.
            Other
                Information
            14PART IIIItem
                9.
            Directors,
                Executive Officers, Promoters and Control Persons; Compliance with
                Section
                16(a) of the Exchange Act
            14Item
                10.
            Executive
                Compensation.
            15Item
                11.
            Security
                Ownership of Certain Beneficial Owners and Management and Related
                Stockholder Matters
            17Item
                12.
            Certain
                Relationships and Related Transactions; Director
                Independence
            17Item
                13.
            Exhibits.
            18Item
                14.
            Principal
                Accountant Fees and Services.
            18SignaturesCertification


3


**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, except as required under the federal securities
      laws.





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


**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. The Company ceased business operations
      during 2002.





Since
      October 2004, when Shmuel Shneibalg, our former chief executive officer,
      acquired a controlling interest in 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. On July 5, 2005, the Company changed its corporate
      name from “Knowledge Transfer Systems, Inc.” to “Global General Technologies,
      Inc.”





The
      Company is in the development stage and has not had any revenues since 2002.
      Since February 2005, the Company has focused on the acquisition of businesses
      engaged in the homeland security industry. The Company’s objective, through its
      wholly-owned subsidiary, H7 Security Systems, Inc., is to 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 on developing and marketing early warning systems
      to protect oil refineries, pipeline, port terminals and military
      installations.





The
      Company has yet to complete and market its first product, the Silent Soldier
      Video Surveillance product. This product leverages its 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 appears to be equally effective
      at night as it is in the daytime, providing a remote interdiction system that
      truly defines early-warning. We plan 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, this concept was developed to
      provide protection through long range threat detection and identification.
      Unlike current security systems, this early-warning technology distinguishes
      itself by providing a preventative security system, rather than one designed
      as
      reactionary to attacks .





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.


5


The
      marketing plan to be 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, pipeline, port terminals and
      military installations.





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 the market for homeland security products and solutions.





Intellectual
      Property





We
      do not
      have any patents or trademarks.





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.





Employees





As
      of
      April 15, 2008, the Company employed one part-time employee.





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, on a month-to-month basis. Management believes such
      space is adequate for the Company’s corporate headquarters.





Item
      3.
      Legal Proceedings





On
      February 15, 2007, Blue Ridge Finance Company, Inc. (the “ Plaintiff” ) filed
      suit against Global General Technologies, Inc. d/b/a Knowledge Transfer Systems,
      Inc., and Steve Burke, Samuel Shneibalg, and Dr. Larry Ball, in Case No.
      06-CA-10493, in the Circuit Court for the 9th Judicial Circuit, in and for
      Orange County, Florida.





Steve
      Burke was the person from whom a controlling interest in the Company (then
      known
      as Knowledge Transfer Systems, Inc.) was purchased in 2005 by Mr. Shneibalg
      and
      others, Mr. Shneibalg thereafter became an Officer/Director of the Company
      , and
      Mr. Ball also became an Officer/Director of the Company.





The
      Complaint alleged (i) fraud and misrepresentation based on certain loans, in
      unspecified amounts, made from the Plaintiff to the Company which were allegedly
      secured by shares of Common Stock owned of the Company by Steve Burke, (ii)
      a
      violation of Florida’s security laws based on a scheme to exchange the
      unspecified loan amount for the Common Stock, (iii) breach of contract against
      GGT and Steve Burke for an alleged Settlement Agreement that was not signed
      by
      the parties thereto, and (iv) breach of promissory note for monies due under
      a
      note that was not attached nor identified in the Complaint.


6


The
      Company filed a Motion to Dismiss arguing that it had insufficient contacts
      with
      the State of Florida to satisfy the constitutional due process test with
      regarding to jurisdiction, forum, and venue.





In
      March
      of 2007 each and every count of the Complaint against the Company was dismissed
      by the Court.





On
      June
      12, 2007, the Plaintiff filed an Amended Complaint, seeking a declaratory
      judgment against the Company for enforcement of a Settlement Agreement, which
      remains unsigned by each party, collectively.





The
      Plaintiff also re-alleged the same causes of action as filed in the initial
      Complaint and also added Steven Bingaman as a defendant. (Mr. Bingaman had
      worked with Mr. Shneibalg in connection with the acquisition of the controlling
      interest in the Company.)





The
      Defendants thereupon filed another Motion to Dismiss for numerous reasons,
      including but not limited to, lack of minimum contacts with the state of
      Florida, failure of the Plaintiff to comply with Florida’s long arm statute, and
      lack of personal jurisdiction over each Defendant. Although the Court has
      instructed both Parties to conduct discovery on the issue of jurisdiction,
      neither Party has done so yet.





A
      hearing
      date on the Defendant’s Motion to Dismiss has not been set by the
      Court.





As
      noted
      above, it is still the Company’s position that it (the Company) lacked
      sufficient contacts with the State of Florida to satisfy the constitutional
      due
      process test with regarding to jurisdiction, forum, and venue. As also noted
      above, since the original Complaint rested on jurisdictional allegations similar
      to those in the Amended Complaint, and since the Original Complaint was
      dismissed because these jurisdictional allegations were found to be
      insufficient, the Company believes that the Amended Complaint will be dismissed
      as well.





Although
      it is difficult to predict the amount or range of potential loss, it is the
      Company’s position that the person responsible for the loss, if any, is Steve
      Burke, as he is the person with whom the Plaintiffs dealt. While no decision
      has
      been made as to whether or not to file a Cross-Claim against Mr. Burke, the
      Company anticipates defending the case as vigorously as it can, and furthermore,
      there are no plans to attempt to reach an out-of-court settlement.





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.


7


**PART
      II**





Item
      5.
      Market for Company’s Common Equity, Related Stockholder Matters and Issuer
      Purchases of Equity Securities





Market
      Information.





The
      Company’s Common Stock trades on the Pink Sheets under the symbol GLGT. The
      following table sets forth the range of quarterly high and low closing bid
      information of the common stock as reported on http://www.bloomberg.com for
      the
      periods indicated.




Financial
                Quarter Bid InformationYear
            
            Quarter
            
            High Bid
            
            Low Bid2007
            
            
            Fourth
            
            $
            0.040
            
            $
            0.025Third
            
            
            0.065
            
            
            0.040Second
            
            
            0.075
            
            
            0.050First
            
            
            0.900
            
            
            0.0072006
            
            
            Fourth
            
            $
            0.900
            
            $
            2.250Third
            
            
            0.600
            
            
            0.900Second
            
            
            0.250
            
            
            1.000First
            
            
            1.000
            
            
            0.120




_


*
      The
      quotations do not reflect inter-dealer prices, without retail mark-up, mark-down
      or commission and may not represent actual transactions.





Holders.
      On December 31, 2007, there were approximately 1,400 holders of record of the
      Company’s common stock **.**





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.





Recent
      Sales of Unregistered Securities





During
      the year ended December 31, 2007, we issued a total of 24,833,332 shares of
      unregistered Common Stock. 3,900,000 shares were issued for consulting services
      valued at $117,000 pursuant to the exemption from registration contained in
      Section 4 (2) of the Securities Act. 3,333,332 shares were issued for $100,000
      cash pursuant to the exemption from registration contained in Section 4 (2)
      of
      the Securities Act. 17,600,000 shares were issued in exchange for claims
      totaling $475,000 pursuant to the exemption from registration contained in
      Section 3 (a) (10) of the Securities Act.





Purchases
      of equity securities by the Issuer and Affiliated Purchasers.





None


8


Item
      6.
      Management’s Discussion and Analysis or Plan of Operation





Plan
      of
      Operation.





The
      Company has yet to complete and market its first product, the Silent Soldier
      Video Surveillance product. This product leverages its 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 appears to be equally effective
      at night as it is in the daytime, providing a remote interdiction system that
      truly defines early-warning. We plan 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, this concept was developed to provide
      protection through long range threat detection and identification. Unlike
      current security systems, this early-warning technology distinguishes itself
      by
      providing a preventative security system, rather than one designed as
      reactionary to attacks.





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 plan to be 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, pipeline, port terminals and
      military installations.





Liquidity
      and Capital Resources





At
      December 31, 2007, the Company’s liabilities ($568,115) exceeded its assets
      ($-0-) by approximately $568,115, and the Company had $ -0- in available cash.
      We do not have sufficient funds to effectuate our business plan without
      additional financial resources. We expect to incur a minimum of approximately
      $1,000,000 in expenses during the next twelve months of operations, primarily
      for 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 working
      capital.





We
      will
      have to issue debt or equity securities, or enter into a strategic arrangement
      with a third party, to implement our business plan. There can be no assurance
      that additional capital will be available to us. We do not have any agreements,
      arrangements or understandings to obtain funds through bank loans, lines of
      credit or other means of financing.





Off-Balance
      Sheet Arrangements


None.





Going
      Concern Considerations


The
      Company has an Accumulated Deficit as of December 31, 2007 and 2006 ($15,324,711
      and ($14,656,481, 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.




Item
      7.
      Financial Statements


9








**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


**(A
      Development Stage Company)**





**-:-**





**CONSOLIDATED
      FINANCIAL STATEMENTS**


**AND**


**REPORT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS**





**DECEMBER
      31, 2007 AND 2006**





10


**GLOBAL
      GENERAL TECHNOLOGIES, INC.**





INDEX
      TO
      FINANCIAL STATEMENTS


**Page**Report
                    Independent Registered Public Accountants
                F
                    -
                    1Consolidated
                    Balance Sheets - December 31, 2007 and 2006
                F
                    -
                    2Consolidated
                    Statements of Operations for the Years Ended December 31, 2007
                    and 2006,
                    and the cumulative period from September 15, 2003 (Inception
                    of
                    Development Stage) to December 31, 2007
                F
                    -
                    3Consolidated
                    Statements of Stockholders’ Equity for the Period From June 1, 2000
                    (inception) to December 31, 2007
                F
                    -
                    4Consolidated
                    Statements of Cash Flows for the Years Ended December 31, 2007
                    and 2006,
                    and the cumulative period from September 15, 2003 (Inception
                    of
                    Development Stage) to December 31, 2007
                F
                    -
                    7Notes
                    to the Consolidated Financial Statements
                F
                    -
                    8







11




**REPORT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS**





To
      the
      Board of Directors and the Shareholders


Global
      General Technologies, Inc.


(A
      Development Stage Company)





We
      have
      audited the accompanying consolidated balance sheet of Global General
      Technologies, Inc. (a development stage company) (the Company) as of December
      31, 2007 and 2006, and the related consolidated statements of operations, and
      cash flows for the two years ended December 31, 2007 and 2006 and the cumulative
      period from September 15, 2003 (inception of development stage) to December
      31,
      2007 and the consolidated statement of stockholders’ equity from June 1, 2000
      (inception) to December 31, 2007. 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. The Company is not required to
      have, nor were we engaged to perform, an audit of its internal control over
      financial reporting. Our audit included consideration of internal control over
      financial reporting as a basis for designing audit procedures that are
      appropriate in the circumstances, but not for the purpose of expressing an
      opinion on the effectiveness of the company’s internal control over financial
      reporting. Accordingly, we express no such opinion. An audit also includes
      examining, on a test basis, evidence supporting the amounts and disclosures
      in
      the financial statements, assessing the accounting principles used and
      significant estimates made by management, as well as evaluating the overall
      financial statement presentation. We believe that our audits provide a
      reasonable basis for our opinion.





In
      our
      opinion, the consolidated financial statements referred to above present fairly,
      in all material respects, the financial position of Global General Technologies,
      Inc. (a development stage company) as of December 31, 2007 and 2006, and the
      results of their operations and their cash flows for the two years ended
      December 31, 2007 and 2006 and the cumulative period from September 15, 2003
      (inception of development stage) to December 31, 2007 in conformity with
      accounting principles generally accepted in the United States of
      America.





The
      accompanying consolidated 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.





Certified
      Public Accountants





Salt
      Lake
      City, Utah


April
      15,
      2008


F-1





**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


**(A
      Development Stage Company)**


**BALANCE
      SHEETS**





**December**
              **31,**
            
            **December**
              **31,****2007**
            
            **2006****ASSETS****Current
                Assets:**Cash
                in bank
            
            $
            -
            
            $
            24,639**Total
                Assets**
            
            $
            -
            
            $
            24,639**LIABILITIES
                AND STOCKHOLDERS’ EQUITY****Current
                Liabilities:**Notes
                payable
            
            $
            186,793
            
            $
            -Trade
                accounts payable
            
            
            181,322
            
            
            199,121Due
                to Asset Growth Partners
            
            
            -
            
            
            217,402Escrow
                advance
            
            
            200,000
            
            
            200,000**Total
                Liabilities**
            
            
            568,115
            
            
            616,523**Stockholders’
                Equity:**Preferred
                stock - $0.001 par value; 10,000,000 shares authorizedSeries
                A convertible preferred stock; -0- sharesissued
                and outstanding; $1.00 stated value
            
            
            -
            
            
            -Series
                B convertible preferred stock; -0- sharesissued
                and outstanding; $1,000.00 stated value
            
            
            -
            
            
            -Common
                stock - $0.001 par value; 100,000,000shares
                authorized; 76,376,995 and 53,043,663 sharesissued
                and outstanding
            
            
            76,377
            
            
            53,044Additional
                paid-in capital
            
            
            15,280,219
            
            
            14,611,553Notes
                receivable from stockholders
            
            
            (600,000
            )
            
            (600,000
            )Accumulated
                deficit
            
            
            (6,860,545
            )
            
            (6,860,545
            )Deficit
                accumulated during development stage
            
            
            (8,464,166
            )
            
            (7,795,936
            )**Total
                Stockholders’ Equity**
            
            
            (568,115
            )
            
            (591,884
            )**Total
                Liabilities and Stockholders’ Equity**
            
            $
            -
            
            $
            24,639





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


F-2


**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


**(A
      Development Stage Company)**


**STATEMENTS
      OF OPERATIONS**





**Cumulative****From****September**
              **15,****For
                the**
            
            **For
                the**
            
            **2003****Year**
              **Ended**
            
            **Year**
              **Ended**
            
            **Inception
                of****December**
              **31,**
            
            **December**
              **31,**
            
            **Development****2007**
            
            **2006**
            
            **Stage****Sales**
            
            **$**
            **-**
            
            **$**
            **-**
            
            **$**
            **-****Operating
                Expenses**Compensation
            
            
            -
            
            
            -
            
            
            422,452Consulting
            
            
            315,300
            
            
            3,565,016
            
            
            4,239,268Professional
                fees
            
            
            39,178
            
            
            59,943
            
            
            427,511Commissions
            
            
            17,000
            
            
            30,250
            
            
            296,960General
                and administrative
            
            
            2,796
            
            
            59,237
            
            
            686,944Total
                Operating Expenses
            
            
            374,274
            
            
            3,714,446
            
            
            6,073,135**Other
                Income (Expense)**Interest
                income
            
            
            74
            
            
            -
            
            
            74Interest
                expense from convertible notes
            
            
            (294,030
            )
            
            (377,995
            )
            
            (1,911,105
            )Write
                down of uncollectible advances
            
            
            -
            
            
            -
            
            
            (480,000
            )Total
                Other Income (Expense)
            
            
            (293,956
            )
            
            (377,995
            )
            
            (2,391,031
            )**Net
                Income (Loss)**
            
            $
            (668,230
            )
            $
            (4,092,441
            )
            $
            (8,464,166
            )**Basic
                and Diluted Income (Loss) Per Share**
            
            $
            (0.01
            )
            $
            (0.17
            )**Weighted
                Average Number of Common Shares****Used
                in Per Share Calculation**
            
            
            63,499,050
            
            
            23,716,931





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


F-3





**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


**(A
      Development Stage Company)**


**STATEMENT
      OF STOCKHOLDERS’ EQUITY**




**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**Stock
                  Issued for net assets
                Acquired,
                  June 1, 2000
              
              
              -
              
              $
              -
              
              
              166,237
              
              $
              166
              
              $
              3,583,834
              
              $
              -
              
              $
              -
              
              $
              -Expenses
                  paid by shareholder
              
              
              -
              
              
              -
              
              
              728
              
              
              1
              
              
              231,295
              
              
              -
              
              
              -
              
              
              -Cash
                  contributed by shareholder
              
              
              -
              
              
              -
              
              
              626
              
              
              1
              
              
              198,999
              
              
              -
              
              
              -
              
              
              -Notes
                  payable and accrued interestassumed
                  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 paidby
                  shareholder
              
              
              -
              
              
              -
              
              
              1,725
              
              
              2
              
              
              548,012
              
              
              -
              
              
              -
              
              
              -Assumption
                  of note payablefrom
                  shareholder
              
              
              -
              
              
              -
              
              
              (78
              )
              
              -
              
              
              (25,000
              )
              
              -
              
              
              -
              
              
              -Shares
                  issued for services
              
              
              -
              
              
              -
              
              
              8,000
              
              
              8
              
              
              199,992
              
              
              -
              
              
              -
              
              
              -Shares
                  issued for notes receivablefrom
                  stockholders, $.05 per share
              
              
              -
              
              
              -
              
              
              46,100
              
              
              46
              
              
              1,152,454
              
              
              (1,042,500
              )
              
              -
              
              
              -Shares
                  issued for notes receivablefrom
                  stockholders, $.10 per share
              
              
              -
              
              
              -
              
              
              5,030
              
              
              5
              
              
              251,495
              
              
              (181,500
              )
              
              -
              
              
              -Services
                  received in satisfaction ofnotes
                  receivable from stockholders
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              360,000
              
              
              -
              
              
              -Acquisition
                  of GoThink!.com
              
              
              -
              
              
              -
              
              
              496
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              -Private
                  placement offering for cash
              
              
              -
              
              
              -
              
              
              1,680
              
              
              2
              
              
              209,998
              
              
              -
              
              
              -
              
              
              -Foreign
                  private placement offeringfor
                  cash
              
              
              -
              
              
              -
              
              
              473
              
              
              -
              
              
              21,570
              
              
              -
              
              
              -
              
              
              -Cancellation
                  of common stock andrelated
                  note receivable
              
              
              -
              
              
              -
              
              
              (5
              )
              
              -
              
              
              (250
              )
              
              250
              
              
              -
              
              
              -Cash
                  received on notes receivablefrom
                  stockholders
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              75,000
              
              
              -
              
              
              -


F-4





**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


**(A
      Development Stage Company)**


**STATEMENT
      OF STOCKHOLDERS’ EQUITY**




**Cumulative****From****September**
              **15,****Notes**
            
            
            
            **2003****Additional**
            
            **Receivable**
            
            
            
            **Inception
                of****Preferred
                Stock**
            
            **Common
                Stock**
            
            **Paid-In**
            
            **From**
            
            **Accumulated**
            
            **Development****Shares**
            
            **Amount**
            
            **Shares**
            
            **Amount**
            
            **Capital**
            
            **Stockholders**
            
            **Deficit**
            
            **Stage**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 forServices
                provided
            
            
            -
            
            
            -
            
            
            6,100
            
            
            6
            
            
            113,494
            
            
            -
            
            
            -
            
            
            -Cancellation
                of common stockAnd
                related note receivable
            
            
            -
            
            
            -
            
            
            (500
            )
            
            (1
            )
            
            (24,999
            )
            
            25,000
            
            
            -
            
            
            -Issuance
                of Series A preferredStock
                for software
            
            
            875,000
            
            
            875,000
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -Cancellation
                of note receivableFrom
                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 forServices
                provided
            
            
            -
            
            
            -
            
            
            2,000
            
            
            2
            
            
            1,998
            
            
            -
            
            
            -
            
            
            -Cancellation
                of common stockFor
                capitalized software
            
            
            -
            
            
            -
            
            
            (3,800
            )
            
            (4
            )
            
            (7,596
            )
            
            -
            
            
            -
            
            
            -Cancellation
                of preferred stockFor
                content license andResale
                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
            )


F-5





**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


**(A
      Development Stage Company)**


**STATEMENT
      OF STOCKHOLDERS’ EQUITY**




**Cumulative****From****Notes**
            
            
            
            **Sept 15, 2003****Additional**
            
            **Receivable**
            
            
            
            **Inception
                of****Preferred
                Stock**
            
            **Common
                Stock**
            
            **Paid-In**
            
            **From**
            
            **Accumulated**
            
            **Development****Shares**
            
            **Amount**
            
            **Shares**
            
            **Amount**
            
            **Capital**
            
            **Stockholders**
            
            **Deficit**
            
            **Stage**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 ofConvertible
                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
            )Shares
                issued for convertible notes at$.15
                per share
            
            
            -
            
            
            -
            
            
            2,546,429
            
            
            2,547
            
            
            384,953
            
            
            -
            
            
            -
            
            
            -Shares
                issued for services
            
            
            -
            
            
            -
            
            
            31,009,365
            
            
            31,010
            
            
            2,951,574
            
            
            -
            
            
            -
            
            
            -Shares
                issued in exchange for sharesof
                H7 Security Systems, Inc.
            
            
            -
            
            
            -
            
            
            7,250,000
            
            
            7,250
            
            
            -
            
            
            -
            
            
            -
            
            
            -Net
                Income (loss) for year
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (4,092,441
            )**Balance
                - December 31, 2006**
            
            
            -
            
            
            -
            
            
            53,043,663
            
            
            53,044
            
            
            14,611,553
            
            
            (600,000
            )
            
            (6,860,545
            )
            
            (7,795,936
            )Shares
                issued for cash at $.03 per share
            
            
            -
            
            
            -
            
            
            3,333,332
            
            
            3,333
            
            
            96,666
            
            
            -
            
            
            -
            
            
            -Shares
                issued for services
            
            
            -
            
            
            -
            
            
            3,900,000
            
            
            3,900
            
            
            113,100
            
            
            -
            
            
            -
            
            
            -Shares
                issued for convertible notes at
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            -
            
            
            -
            
            
            -$.027
                per share
            
            
            -
            
            
            -
            
            
            17,600,000
            
            
            17,600
            
            
            457,400
            
            
            -
            
            
            -
            
            
            -Shares
                cancelled
            
            
            -
            
            
            -
            
            
            (1,500,000
            )
            
            (1,500
            )
            
            1,500
            
            
            -
            
            
            -
            
            
            -Net
                Income (loss) for year
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (668,230
            )**Balance
                - December 31, 2007**
            
            
            -
            
            
            **-**
            
            
            76,376,995
            
            $
            76,377
            
            $
            15,280,219
            
            $
            (600,000
            )
            $
            (6,860,545
            )
            $
            (8,464,166
            )





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


F-6





**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


**(A
      Development Stage Company)**


**STATEMENTS
      OF CASH FLOWS**




**Cumulative****From****September****For
                the**
            
            **For
                the**
            
            **15,
                2003****Year**
              **Ended**
            
            **Year**
              **Ended**
            
            **Inception
                of****December**
              **31,**
            
            **December**
              **31,**
            
            **Development****2007**
            
            **2006**
            
            **Stage****Cash
                Flows From Operating Activities**Net
                loss
            
            $
            (668,230
            )
            $
            (4,092,441
            )
            $
            (8,464,166
            )Adjustments
                to reconcile net loss to net cashused
                in operating activities:Interest
                expense from convertible notes
            
            
            267,022
            
            
            368,320
            
            
            1,874,022Write
                down of uncollectible advances
            
            
            -
            
            
            -
            
            
            480,000Common
                stock issued for services
            
            
            117,000
            
            
            2,989,834
            
            
            3,359,089Changes
                in Assets and LiabilitiesDeferred
                charge
            
            
            -
            
            
            30,250
            
            
            -Accrued
                interest on notes payable
            
            
            27,008
            
            
            9,675
            
            
            36,683Trade
                accounts payable
            
            
            (17,800
            )
            
            179,455
            
            
            98,784Net
                cash used in operating activities
            
            
            (275,000
            )
            
            (514,907
            )
            
            (2,615,588
            )**Cash
                Flows from Investing Activities**Cash
                advances to GGT
            
            
            -
            
            
            -
            
            
            (480,000
            )Net
                cash used in investing activities
            
            
            -
            
            
            -
            
            
            (480,000
            )**Cash
                Flows from Financing Activities**Proceeds
                from sale of common stock
            
            
            100,000
            
            
            -
            
            
            100,000Proceeds
                from notes
            
            
            175,000
            
            
            -
            
            
            175,000Escrow
                advance
            
            
            -
            
            
            -
            
            
            200,000Advances
                from Asset Growth Partners, net
            
            
            (24,639
            )
            
            207,727
            
            
            183,088Convertible
                note financing
            
            
            -
            
            
            -
            
            
            2,437,500Net
                cash provided by (used in) financing activities
            
            
            250,361
            
            
            207,727
            
            
            3,095,588Net
                Decrease In Cash
            
            
            (24,639
            )
            
            (307,180
            )
            
            -Cash
                at Beginning of Period
            
            
            24,639
            
            
            331,819
            
            
            -Cash
                at End of Period
            
            $
            -
            
            $
            24,639
            
            $
            -**Supplemental
                Disclosure of Cash Flow Information**Cash
                paid for income taxes
            
            $
            -
            
            $
            -
            
            $
            -Cash
                paid for interest
            
            $
            -
            
            $
            -
            
            $
            400**Supplemental
                Schedule of Noncash Investing and Financing
                Activities**Beneficial
                Conversion Feature of Convertible Notes
            
            $
            -
            
            $
            855,320
            
            $
            1,607,000Write
                Down of Uncollectible Advances
            
            $
            -
            
            $
            -
            
            $
            480,000Common
                stock issued for services provided
            
            $
            117,000
            
            $
            783,117
            
            $
            3,359,089Conversion
                of notes payable
            
            $
            207,978
            
            $
            -
            
            $
            595,478Common
                stock issued in exchange for H7 stock
            
            $
            -
            
            $
            -
            
            $
            7,250





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




F-7




**GLOBAL
      GENERAL TECHNOLOGIES, 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





**GLOBAL
      GENERAL TECHNOLOGIES, 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, Inc.” (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 and December 31, 2007 and 2006 of
      $15,324,711 and $14,656,481, 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. 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.




**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.


F-9





**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


(A
      DEVELOPMENT STAGE COMPANY)


**NOTES
      TO FINANCIAL STATEMENTS**




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





**PRINCIPLES
      OF CONSOLIDATION** -
      The
      consolidated financial statements include the accounts of Global General
      Technologies, Inc. and its wholly owned subsidiary 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 intercompany 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.




**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.




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.


F-10


**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


(A
      DEVELOPMENT STAGE COMPANY)


**NOTES
      TO FINANCIAL STATEMENTS**




**NOTE
      2 - STOCKHOLDERS’ EQUITY (Continued)**


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.
        Issuance costs in the form of commisions of $279,960 were paid to a third
        party
        in connection with issuance of these notes. The issue 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.




In
      January 2006, 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. The Company has determined to terminate such agreement and
      no
      longer intends to consummate such transaction. 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.




On
      July
      11, 2006, the Company issued 7,250,000 shares of common stock in a share
      exchange agreement with H7 Security Systems, Inc.




From
      April 1, 2006 to December 31, 2006, the Company issued 31,009,365 shares of
      its
      common stock for consulting services valued at $2,989,834.




During
      2007, the Company issued 3,333,332 shares of common stock for cash of
      $100,000.




During
      2007, the Company issued 3,900,000 shares of common stock for consulting
      services valued at $117,000.




During
      2007, the Company issued 17,600,000 shares of common stock for notes payable
      and
      accrued interest of $207,978 and interest expense of $267,022.




**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





**GLOBAL
      GENERAL TECHNOLOGIES, 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, 2007 and 2006, 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 were written off for the year ended December
      31, 2005.




**NOTE
      7 - INCOME TAXES**




Deferred
      income tax assets consisted of the following:




December
              31,
            
            December
              31,2007
            
            2006Net
                operating loss carryforwards
            
            $
            2,323,108
            
            $
            2,186,697Less
                valuation allowance
            
            
            (2,323,108
            )
            
            (2,186,697
            )Deferred
                income tax assets
            
            $
            -
            
            $
            -




The
      valuation allowance increased $136,411 in 2007 and increased $1,268,771 in
      2006,
      respectively. At December 31, 2007, the Company has consolidated net operating
      loss carryforwards for federal income tax purposes of $7,646,523. These net
      operating loss carryforwards expire at various dates beginning in 2018 through
      2027. 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
              31,2007
            
            2006Provision
                (Benefit) at US Statutory Rate
            
            $
            (227,198
            )
            $
            (1,394,000
            )Net
                Operating Losses
            
            
            -
            
            
            -Non-Deductible
                Expenses
            
            
            90,787
            
            
            125,229Increase
                (Decrease) in Valuation Allowance
            
            
            136,411
            
            
            1,268,771$
            -
            
            $
            -


F-12





**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


(A
      DEVELOPMENT STAGE COMPANY)


**NOTES
      TO FINANCIAL STATEMENTS**





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





**NOTE
      8 - NOTE PAYABLE**




On
      July
      15, 2006, the Company received a loan of $207,727. The loan is due on demand.
      Interest of 10% per annum was imputed on the loan since there was no stated
      interest rate. At December 31, 2006, the total amount due on this loan was
      $217,402, including accrued interest of $9,675. During the 1st quarter of 2007,
      the Company paid




**NOTE
      8 - NOTE PAYABLE (continued)**


$24,639
      towards this loan, which was the total cash balance at December 31, 2006. During
      the 3 rd and
      4 th quarter
      of 2007, the Company issued 17,600,000 shares of common stock for the note
      payable and accrued interest of $207,978 and additional interest expense of
      $267,022. At December 31, 2007 and 2006, the total amount due on this loan
      was
      $0 and $217,402, respectively.




During
      the year ended December 31, 2007, the Company received loans totaling $175,000.
      The loans carry an interest rate of 15% per annum and are due December 8, 2008.
      At December 31, 2007, the total amount due on these notes was
      $186,793.




**NOTE
      9 - LONG TERM DEBT**




At
      December 31, 2005, the Company had convertible notes payable due totaling
      $387,500 as follows:





DECEMBER
              31,
              20058%
                Convertible Note due April 2007 Conversion price $.07
            
            $
            150,0008%
                Convertible Note due April 2007 Conversion price $.50
            
            
            237,500Total
                Debt
            
            $
            387,500




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.




**NOTE
      10 - PURCHASE AGREEMENT**




On
      January 19, 2007, the Company entered into a Purchase Agreement with Greene
      Spring Company. Pursuant to such agreement, the Company agreed to purchase
      8,340,000 shares of its common stock from Greene Spring Company, a Pennsylvania
      corporation. In consideration therefore, the Company agreed to issue to Green
      Spring Company a convertible promissory note, in the principal amount of
      $495,000, payable on demand, with interest to accrue at the rate of 1% per
      year.
      The outstanding balance of the promissory note shall be convertible, at the
      option of the holder thereof, into shares of our common stock at a rate of
      $0.04
      per share. Greene Spring Company shall be permitted to convert only no more
      than
      a maximum of $40,000 (convertible into 1,000,000 shares) per each calendar
      quarter commencing on April 18, 2007. Such transactions were to be consummated
      at a closing to be held no later than January 30, 2007. However, as of March
      15,
      2008, such closing had not yet occurred.


F-13


**GLOBAL
      GENERAL TECHNOLOGIES, INC.**


(A
      DEVELOPMENT STAGE COMPANY)


**NOTES
      TO FINANCIAL STATEMENTS**




**NOTE
      11 – UNCERTAIN TAX POSITIONS**




Effective
      January 1, 2007, the Company adopted the provisions of FASB Interpretation
      No.
      48, “Accounting for Uncertainty in Income Taxes – an interpretation of FASB
      Statement No. 109” (“FIN 48”). FIN 48 prescribes a recognition threshold and a
      measurement attribute for the financial statement recognition and measurement
      of
      tax positions taken or expected to be taken in a tax return. For those benefits
      to be recognized, a tax position must be more-likely-than-not to be sustained
      upon examination by taxing authorities. The adoption of the provisions of FIN
      48
      did not have a material impact on the company’s condensed consolidated financial
      position and results of operations. At January 1, 2007, the company had no
      liability for unrecognized tax benefits and no accrual for the payment of
      related interest.




Interest
      costs related to unrecognized tax benefits are classified as “Interest expense,
      net” in the accompanying consolidated statements of operations. Penalties, if
      any, would be recognized as a component of “Selling, general and administrative
      expenses.” The Company recognized $0 of interest expense related to unrecognized
      tax benefits for the year ended December 31, 2007. In many cases the company’s
      uncertain tax positions are related to tax years that remain subject to
      examination by relevant tax authorities. With few exceptions, the company is
      generally no longer subject to U.S. federal, state, local or non-U.S. income
      tax
      examinations by tax authorities for years before 2003. The following describes
      the open tax years, by major tax jurisdiction, as of January 1,
      2008:





United
                States (a)
            2004
                **–** Present




(a)
            Includes
                federal as well as state or similar local jurisdictions, as
                applicable.




**NOTE
      12 – CONTINGENCIES**





On
      February 15, 2007, Blue Ridge Finance Company, Inc. (the “ Plaintiff” ) filed
      suit against Global General Technologies, Inc. d/b/a Knowledge Transfer Systems,
      Inc., and Steve Burke, Samuel Shneibalg, and Dr. Larry Ball, in Case No.
      06-CA-10493, in the Circuit Court for the 9th Judicial Circuit, in and for
      Orange County, Florida.




Steve
      Burke was the person from whom a controlling interest in the Company (then
      known
      as Knowledge Transfer Systems, Inc.) was purchased in 2005 by Mr. Shneibalg
      and
      others, Mr. Shneibalg thereafter became an Officer/Director of the Company
      , and
      Mr. Ball also became an Officer/Director of the Company.




The
      Complaint alleged (i) fraud and misrepresentation based on certain loans, in
      unspecified amounts, made from the Plaintiff to the Company which were allegedly
      secured by shares of Common Stock owned of the Company by Steve Burke, (ii)
      a
      violation of Florida’s security laws based on a scheme to exchange the
      unspecified loan amount for the Common Stock, (iii) breach of contract against
      GGT and Steve Burke for an alleged Settlement Agreement that was not signed
      by
      the parties thereto, and (iv) breach of promissory note for monies due under
      a
      note that was not attached nor identified in the Complaint.




The
      Company filed a Motion to Dismiss arguing that it had insufficient contacts
      with
      the State of Florida to satisfy the constitutional due process test with
      regarding to jurisdiction, forum, and venue.


12


In
      March
      of 2007 each and every count of the Complaint against the Company was dismissed
      by the Court.





On
      June
      12, 2007, the Plaintiff filed an Amended Complaint, seeking a declaratory
      judgment against the Company for enforcement of a Settlement Agreement, which
      remains unsigned by each party, collectively.





The
      Plaintiff also re-alleged the same causes of action as filed in the initial
      Complaint and also added Steven Bingaman as a defendant. (Mr. Bingaman had
      worked with Mr. Shneibalg in connection with the acquisition of the controlling
      interest in the Company.)





The
      Defendants thereupon filed another Motion to Dismiss for numerous reasons,
      including but not limited to, lack of minimum contacts with the state of
      Florida, failure of the Plaintiff to comply with Florida’s long arm statute, and
      lack of personal jurisdiction over each Defendant. Although the Court has
      instructed both Parties to conduct discovery on the issue of jurisdiction,
      neither Party has done so yet.





A
      hearing
      date on the Defendant’s Motion to Dismiss has not been set by the Court.





As
      noted
      above, it is still the Company’s position that it (the Company) lacked
      sufficient contacts with the State of Florida to satisfy the constitutional
      due
      process test with regarding to jurisdiction, forum, and venue. As also noted
      above, since the original Complaint rested on jurisdictional allegations similar
      to those in the Amended Complaint, and since the Original Complaint was
      dismissed because these jurisdictional allegations were found to be
      insufficient, the Company believes that the Amended Complaint will be dismissed
      as well.





Although
      it is difficult to predict the amount or range of potential loss, it is the
      Company’s position that the person responsible for the loss, if any, is Steve
      Burke, as he is the person with whom the Plaintiffs dealt. While no decision
      has
      been made as to whether or not to file a Cross-Claim against Mr. Burke, the
      Company anticipates defending the case as vigorously as it can, and furthermore,
      there are no plans to attempt to reach an out-of-court settlement.





Item
      8.
      Changes In and Disagreements with Accountants on Accounting and Financial
      Disclosure





None.





Item
      8A(T). Controls and Procedures





(a)  Evaluation
      of Disclosure Controls and Procedures.





The
      management of the Company, including the principal
      executive and financial officer, conducted an evaluation of the effectiveness
      of
      the design and operation of our disclosure controls and procedures as defined
      in
      Rules 13a-15(e) and 15d-15(e) under the Exchange Act as of December 31, 2007.
      Based on that evaluation, the principal executive and financial officer
      concluded that as of December 31, 2007, our disclosure controls and procedures
      were not effective to ensure (i) that information required to be disclosed by us in
      the
      reports we file or submit under the Exchange Act is recorded, processed,
      summarized and reported within the time periods specified in the SEC’s rules and
      forms and (ii) that information required to be disclosed in reports that we
      file
      or submit under the Exchange Act is accumulated and communicated to our
      management including our chief executive and financial officer, to allow timely
      decisions regarding required disclosure.





Management’s
      conclusion that our disclosure controls and procedures were ineffective as
      of
      December 31, 2007 is the result of the failure to include management’s report on
      internal controls over financial reporting in our Form 10-KSB for the year
      ended
      December 31, 2007 as required by Item 308 of Regulation S-B. This failure
      resulted from inadequate staffing of the financial reporting function.
      Management has installed an interim controller, and is presently seeking a
      candidate to fill this position on a permanent basis. The Company will continue
      to review its policies and procedures to ensure compliance and adequate
      personnel to facilitate these policies.





(b)  Management’s
      Annual Report on Internal Control Over Financial Reporting.





Our
      management is responsible for establishing and maintaining adequate internal
      control over financial reporting for the Company as defined in Rules 13a-15(f)
      and 15d-15(f) under the Exchange Act. Management evaluated our internal controls
      based on the criteria set forth in the Internal Control - Integrated Framework
      issued by the Committee of Sponsoring Organizations of the Treadway
      Commission.


13





Management’s
      assessment of the effectiveness of the Company’s internal control over financial
      reporting is as of the fiscal year ended December 31, 2007. We believe that
      our
      internal control over financial reporting is not effective.





As
      discussed under (a) above to our Form 10-KSB for the year ended December 31,
      2007 did not include management’s report on internal controls over financial
      reporting, which was required by Item 308 of Regulation S-B. Management’s
      conclusion that internal controls over financial reporting were not effective
      at
      December 31, 2007 is the result of management’s consideration of the omission of
      management’s report on internal controls over financial reporting and the
      related inadequate staffing. Remedial steps we have taken subsequent to year
      end
      are discussed under (a) above.





This
      annual report does not include an attestation report of the Company’s registered
      public accounting firm regarding internal controls over financial reporting.
      Management’s report was not subject to attestation by the Company’s registered
      public accounting firm pursuant to temporary rules of the Securities and
      Exchange Commission that permit the Company to provide only management’s report
      in this annual report.





(c)  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 quarter that
      have materially affected, or are reasonably likely to materially affect, the
      Company’s internal controls over financial reporting.





Item
      8B.
      Other Information





On
      January 19, 2007, the Company entered into a Purchase Agreement with Greene
      Spring Company. Pursuant to such agreement, the Company agreed to purchase
      8,340,000 shares of its common stock from Greene Spring Company, a Pennsylvania
      corporation. In consideration therefore, the Company agreed to issue to Green
      Spring Company a convertible promissory note, in the principal amount of
      $495,000, payable on demand, with interest to accrue at the rate of 1% per
      year.
      The outstanding balance of the promissory note shall be convertible, at the
      option of the holder thereof, into shares of our common stock at a rate of
      $0.04
      per share. Greene Spring Company shall be permitted to convert only no more
      than
      a maximum of $40,000 (convertible into 1,000,000 shares) per each calendar
      quarter commencing on April 18, 2007. Such transactions were to be consummated
      at a closing to be held no later than January 30, 2007. However, as of June
      30,
      2008, such closing had not yet occurred.





**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 OfficesGary
                T. Stroud
            
            63
            
            President,
                Secretary, and Director





Mr.
      Stroud became the President, CEO, Secretary and a Director of the Company as
      of
      January 30, 2008, replacing Shmuel Shneibalg, the Company’s previous President.





Mr.
      Stroud has been involved in the startup and consolidation of the high
      technology, software and internet industries companies for more than
      25-years.


14


He
      started his career at the Hewlett Packard Company in sales and marketing roles
      and then moved to Europe for a number of years as a consultant heading up the
      international business development for a division of Siemens AG. In this
      capacity he spent a great deal of time in the Middle East and Africa. Subsequent
      to this project Siemens asked Stroud to provide consulting services to break
      into the packet switching products to the US Telcos (RBOCs).




During
      these projects Stroud established a reputation for identifying and matching
      technologies which led to consolidations and turnarounds Dowty /Datatel,
      CheckMate Systems/Hugen Sweda (UK), Datentechnik/Italtel (IT).




Stroud
      then participated in the growth of the Internet based industry by leveraging
      EDI, Transaction Security with Internet transport and founded ASEC Systems
      focusing on electronic commerce applications in Health, Trade & Transport,
      Secure Electronic Payments and electronic based RFP/RFQ issues and response
      system for inter-country government procurement (NAFTA) this company was merged
      with Fischer Security Systems.




Starting
      in 2000, he focused on the telecom/wireless/advanced technology industries
      e.g.
      Domain Dynamics Ltd., Signal Processing Applications / Voice Recognition and
      Authentication. He assisted in raising £5m funding and as CEO identified and
      engaged the management and staff for the North American Division. In a follow-up
      project raised $2m in funding for a wireless Open Outcry Trading System, and
      as
      the CEO brought the product to fulfillment for Chicago Board of Trade and
      negotiated the sale of the system to CBOT. Additional transactions included
      raising 2.5 Million dollars for an international web-based catalogue service
      (EZY-Buy) for purchase and delivery of products between Europe and North
      America. Established contracts with US Postal Services, US Customs, British
      Post, British Customs, Deutsch Post and Customs for a rapid clearing of goods
      ordered over the Internet, this company was sold to Rassa Holdings of
      Argentina




More
      recently 2000, Stroud started AGV (Canada, USA) and through this vehicle has
      been involved in various consulting projects including restructuring of business
      and technology structures for stock exchanges in the Caribbean, the sale of
      the
      DMDays direct marketing conference to the DMA.




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, 2007,
      all
      reporting persons complied with all applicable Section 16(a) filing
      requirements, other than Shmuel Shneibalg and Greene Spring
      Company.





Item
      10.
      Executive Compensation





Shmuel
      Shneibalg was our Chief Executive Officer, President, and a Director from
      November 10, 2004, until January 30, 2008. During such period, we had no other
      executive officers or directors. No options were granted to our executive
      officer during the fiscal year ended December 31, 2007, and Mr. Shneibalg did
      not have an employment agreement with the Company.


15





The
      following table sets forth information concerning the compensation paid or
      earned during the fiscal years ended December 31, 2007 and 2006 for services
      rendered to our Company in all capacities by the following persons: (i) all
      individuals who served as the principal executive officer or acting in a similar
      capacity during the fiscal year ended December 31, 2007, regardless of
      compensation level; (ii) all individuals who served as officers at December
      31,
      2007 and whose total compensation during the fiscal year ended December 31,
      2007
      exceeded $100,000; and (iii) up to two additional individuals who served as
      officers during the fiscal year ended December 31, 2007 and whose total
      compensation during the fiscal year ended December 31, 2007 exceeded $100,000,
      regardless of whether they were serving as officers at the end of such fiscal
      year.





SUMMARY
                COMPENSATION TABLENonqualifiedName
                and
            
            Non-Equity
            
            Deferredprincipal
            
            Salary
            
            Stock
            
            Option
            
            Incentive Plan
            
            Compensation
            
            All Other
            
            Totalposition
            
            Year ($)
            
            Bonus
            
            ($)
            
            Awards ($)
            
            Awards ($)
            
            Compensation ($)
            
            Earnings ($)
            
            Compensation ($)
            
            ($)(a)
            
            (b)
            
            (c)
            
            (d)
            
            (e)
            
            (f)
            
            (g)
            
            (h)
            
            (i)
            
            (j)Shmuel
            
            
            2006
            
            
            35,000
            
            
            0
            
            
            0
            
            
            0
            
            
            0
            
            
            0
            
            
            0
            
            
            35,000Shneibalg(1)
            
            
            2005
            
            
            99,000
            
            
            0
            
            
            0
            
            
            0
            
            
            0
            
            
            0
            
            
            0
            
            
            99,000





(1)
      Shmuel Shneibalg was our Chief Executive Officer, President, and a Director
      since November 10, 2004.





Mr.
      Stroud is the President of AGV International Canada Inc., (“AGV”), and the
      Company entered in to a Services Agreement with AGV pursuant to which AGV was
      assigned the tasks of (i) ascertaining the relative marketability of GLGT’s
      wholly owned subsidiary, H7 Security Systems, Inc.’s (“H7”) product, know as the
“Silent Soldier”; of (ii) analyzing GLGT’s strategic position; of (iii)
      evaluating GLGT’s assets; of (iv) of developing strategic and operational
      recommendations to optimize GLGT’s position; and of (v) conducting due diligence
      into the affairs of SmartWear Technologies (“SmartWear”), with whom we have
      entered into an agreement to acquire its assets in exchange for 10,000,000
      shares of our Preferred Stock.





As
      compensation for AGV’s services provided under this Agreement, the Company has
      agreed to pay to AGV the following:





(i)    
      $12,500;





(ii)   
      $1,000 per day for Due Diligence activities; and





(iii)  
      1,000,000 shares of our Common Stock.





Details
      of these transactions are set forth in Forms 8-K filed by us on February 12,
      2008, February 19, 2008, and April 4, 2008.





Outstanding
      Equity Awards





As
      of
      December 31, 2007, our sole director and executive officer did not hold any
      unexercised options, stock that had not vested, or equity incentive plan
      awards.





Compensation
      of Directors





Except
      as
      described above under the section entitled “Summary Compensation,” our sole
      director did not earn any compensation during the fiscal year ended December
      31,
      2007.


16




Item
      11.
      Security Ownership of Certain Beneficial Owners and Management





The
      following table lists, as of December 31, 2007, 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
      any pecuniary beneficial interest. Except as noted below, each person has sole
      voting and investment power.





The
      number of shares outstanding of the issuer’s class of common stock outstanding
      as of December 31, 2007, was 76,376,995 shares. 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.





**Officers, Directors, 5% Shareholders**
            
            **No. of Shares**
            
            **Beneficial Ownership**NoneShmuel
                Shneibalg
            
            3,093,224
                Shares
            
            4
                %All
                directors and executive officers as a group
            
            3,093,224
                Shares
            
            4
                %





Securities
      authorized for issuance under equity compensation plans.





The
      Company has no equity compensation plans.





Item
      12.
      Certain Relationships and Related Transactions; Director
      Independence





Certain
      Relationships and Related Transactions





On
      March
      30, 2006, the initial five stockholders of H7 Security Systems, Inc., including
      Shmuel Shneibalg, the Chief Executive Officer, President and sole director
      of
      the Company, exchanged their shares of H7 Security Systems, Inc. for shares
      of
      Common Stock of the Company, so that H7 Security Systems, Inc. became a
      wholly-owned subsidiary of the Company. Mr. Shneibalg received 1,000,000 shares
      of Common Stock in exchange for his shares of H7 Security Systems,
      Inc.





On
      January 19, 2007, the Company entered into a Purchase Agreement with Greene
      Spring Company. Pursuant to such agreement, the Company agreed to purchase
      8,340,000 shares of its common stock from Greene Spring Company, a Pennsylvania
      corporation. In consideration therefore, the Company agreed to issue to Green
      Spring Company a convertible promissory note, in the principal amount of
      $495,000, payable on demand, with interest to accrue at the rate of 1% per
      year.
      The outstanding balance of the promissory note shall be convertible, at the
      option of the holder thereof, into shares of our common stock at a rate of
      $0.04
      per share. Greene Spring Company shall be permitted to convert only no more
      than
      a maximum of $40,000 (convertible into 1,000,000 shares) per each calendar
      quarter commencing on April 18, 2007. Such transactions were to be consummated
      at a closing to be held no later than January 30, 2007. However, as of March
      15,
      2008, such closing had not yet occurred.





Director
      Independence





None
      of
      our directors is ”independent” as that term is defined under the rules of the
      Securities and Exchange Commission.


17





Item
      13.
      Exhibits





Exhibit No.
            
            Description3.1
            
            Articles of
                Incorporation (1)3.2
            
            Bylaws4.1
            
            Specimen
                common stock certificate(1)21.1
            
            Subsidiaries31.1
            
            Rule
                13a-14(a)/15d14(a) Certification31.2
            
            Rule
                13a-14(a)/15d14(a) Certification32.1
            
            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





Item
      14.
      Principal Accountant Fees and Services





Robison,
      Hill & Company served as the Company’s principal accountant during the years
      ended December 31, 2007 and December 31, 2006. Their pre-approved fees billed
      to
      the Company are set forth below:





Fiscal year
              ended
            
            Fiscal year
              endedDecember
              31, 2007
            
            December
              31, 2006Audit
                Fees
            
            $
            20,159
            
            $
            26,630Audit
                Related Fees
            
            $
            -
            
            $
            -Tax
                Fees
            
            $
            254
            
            $
            150All
                Other Fees
            
            $
            20,413
            
            $
            26,780





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, 2007, the Company did not have a formal documented pre-approval
      policy for the fees of the principal accountant.


18





SIGNATURES





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





Dated : September
      25, 2008




GLOBAL
      GENERAL TECHNOLOGIES, INC.





By:
            /s/
                Joseph K. PetterName:
            Joseph
                K. PetterTitle:
            President,(Principal
                Executive, Financial and Accounting Officer)


19