U. S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

[ X ] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934

                For the quarterly period ended September 30, 2002

  [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

             For the transition period from __________ to __________

                            Commission file 02-69494

                             GLOBAL GOLD CORPORATION
                 (Name of small business issuer in its charter)

        DELAWARE                                               13-3025550
  ---------------------                                       -----------------
 (State or other jurisdiction of                             (IRS Employer
 incorporation or organization)                           Identification No.)

           734 FRANKLIN AVENUE, #333, GARDEN CITY, NEW YORK 11530-4525
--------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                    Issuer's telephone number (516) 627-2388
                       Issuer's fax number (516) 627-5067

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

Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by court. Yes [ _____ ] No [ _____ ]. Not
applicable.

As of September 30, 2002 there were 4,368,114 shares of the registrant's Common
Stock outstanding.

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



<PAGE>



                             GLOBAL GOLD CORPORATION

                                TABLE OF CONTENTS


PART I   FINANACIAL INFORMATION

     Item 1. Financial Statements (Unaudited)

             Balance Sheet - as of September 30, 2002                        1

             Statements of Income and Loss for the three months and nine
              months ended September 30, 2002 and September 30, 2001
              and for the development stage period from January 1, 1995
              through September 30, 2002                                     2

             Statements of Cash Flows - for the nine months ended September
              30, 2002 and September 30, 2001 and for the development stage
              period from January 1, 1995 through September 30, 2002         3

             Notes to Financial Statements                                   4

     Item 2. Management's Discussion and Analysis or Plan of Operations      5-6

PART II  OTHER INFORMATION

Item 1.  Legal Proceedings                                                   6
Item 2.  Changes in Securities and Use of Proceeds                           6
Item 3   Default Upon Senior Securities                                      6
Item 4   Controls and Procedures                                             6
Item 5   Other Information                                                   6
Item 6.  Exhibits and Reports on Form 8-K                                    6

SIGNATURE                                                                    7

         Certification of Chairman and Chief Executive Officer and Treasurer
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002           8

         Certification of President, COO and Interim Chief Financial Officer
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002           9


<PAGE>
                             GLOBAL GOLD CORPORATION
                        (A Development Stage Enterprise)

                                  BALANCE SHEET

                               SEPTEMBER 30, 2002
                                   (Unaudited)

                                     ASSETS

Cash                                                          $           2,118

Investment in Sterlite Gold Ltd.                                        193,574
                                                                ----------------
                                                              $         195,692
                                                                ================



                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable and accrued expenses                    $          54,325
     Due to related parties                                              35,719
                                                                ----------------
                                                                         90,044
                                                                ----------------


STOCKHOLDERS' EQUITY:
     Common stock $0.001 par, 100,000,000 shares authorized,
         4,368,114 shares issued and outstanding                          4,368
     Additional paid-in capital                                       4,834,955
     Deficit accumulated during the  development stage               (4,773,714)
     Unrealized gain on investment                                       40,039
                                                                ----------------

         TOTAL STOCKHOLDERS' EQUITY                                     105,648
                                                                ----------------


                                                              $         195,692
                                                                ================


                       See notes to financial statements.

                                        1
<PAGE>
                             GLOBAL GOLD CORPORATION
                        (A Development Stage Enterprise)

            STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
                                   (Unaudited)
<TABLE>
<CAPTION>



                                               Three Months Ended       Nine Months Ended       January 1, 1995
                                               September 30,            September 30,           through
                                              ----------------------   ---------------------    September 30,
                                                2002         2001        2002        2001         2002
                                              ----------   ---------   ---------   ---------   -----------

<S>                                         <C>          <C>         <C>         <C>         <C>
 REVENUES                                   $         -  $        -  $        -  $        -  $          -
                                              ----------   ---------   ---------   ---------   -----------
 EXPENSES:
     Selling, general and administrative          7,789          75      11,112      12,335       783,301
     Legal fees                                   4,631         416      16,337       5,989       647,632
     Compensation                                     -           -           -           -       550,834
     Write-off investment in Georgia
        mining interests                              -           -           -           -       135,723
     Gain on sale of interest in
        Global Gold Armenia                           -           -           -           -      (268,874)
     Gain on sale of interest in
        Sterilite Gold Ltd.                           -           -      (1,207)          -        (1,207)
     Miscellaneous other                              -        (225)        100        (225)       18,657
                                              ----------   ---------   ---------   ---------   -----------
           TOTAL EXPENSES                        12,420         266      26,342      18,099     1,866,066
                                              ----------   ---------   ---------   ---------   -----------

 NET INCOME (LOSS)                          $   (12,420) $     (266) $  (26,342) $  (18,099) $ (1,866,066)
                                              ----------   ---------   ---------   ---------   -----------


 NET INCOME (LOSS) PER SHARE-BASIC AND DILUTED    (0.00) $    (0.00) $    (0.01) $    (0.00)
                                              ==========   =========   =========   =========


 WEIGHTED AVERAGE SHARES OUTSTANDING          4,368,114    4,368,114   4,368,114   4,368,114
                                              ==========   =========   =========   =========



 NET INCOME (LOSS)                          $   (12,420) $     (266) $  (26,342) $  (18,099)

 OTHER COMPREHENSIVE INCOME (LOSS):

 Unrealized gain (loss) on available-
     for-sale securities                       (224,219)    (33,000)    161,039     (33,000)
                                              ----------   ---------   ---------   ---------


 COMPREHENSIVE INCOME (LOSS)                $  (236,639)$   (33,266) $  134,697 $   (51,099)
                                              ==========   =========   =========   =========

</TABLE>

                       See notes to financial statements.

                                        2
<PAGE>
                             GLOBAL GOLD CORPORATION
                        (A Development Stage Enterprise)

                            STATEMENTS OF CASH FLOWS
                                  (Unaudited)

<TABLE>
<CAPTION>



                                                                Nine Months Ended        January 1, 1995
                                                                  September 30,             through
                                                            -------------------------     September 30,
                                                               2002          2001            2002
                                                            -----------   -----------   ---------------

 CASH FLOWS FROM DEVELOPMENT STAGE
       ACTIVITIES:

<S>                                                       <C>           <C>           <C>
       Net Loss                                           $    (26,342) $    (18,099) $     (1,866,066)
       Adjustments to reconcile net loss
         to net cash used in operating activities:
            Provision for bad debt                                   -             -           325,000
            Gain on sale of Armenia mining interests                 -             -          (268,874)
            Write-off of mining investment in Georgia                -             -           135,723
            Gain on sale of Sterlite Gold Ltd. interest         (1,207)            -            (1,207)
       Changes in assets and liabilities:
         Organization costs                                          -             -            (9,601)
         Accounts receivable and deposits                            -             -              (154)
         Accounts payable and accrued expenses                 (27,885)       14,194           337,647
                                                            -----------   -----------   ---------------
 NET CASH USED IN OPERATING ACTIVITIES                         (55,434)       (3,905)       (1,347,532)
                                                            -----------   -----------   ---------------
 CASH FLOW FROM INVESTING ACTIVITIES:
       Proceeds from sale of Armenia mining interests                -             -         1,891,155
       Proceeds from sale of Sterlite Gold Ltd. interests       43,672                          43,672
       Investment in certain mining
         interests - net of financing                                -             -          (153,494)
       Deferred costs - mining interests                             -             -          (878,858)
                                                            -----------   -----------   ---------------
 NET CASH PROVIDED BY INVESTING ACTIVITIES                      43,672             -           902,475
                                                            -----------   -----------   ---------------

 CASH FLOW FROM FINANCING ACTIVITIES:
       Net proceeds from private
         placement offering                                          -             -           421,573
       Due from related party                                        -             -            13,500
       Sale of warrants                                              -             -               650
       Warrants exercised                                            -             -               100
                                                            -----------   -----------   ---------------
 NET CASH PROVIDED BY FINANCING ACTIVITIES                           -             -           435,823
                                                            -----------   -----------   ---------------
 NET DECREASE IN CASH                                          (11,762)       (3,905)           (9,234)

 CASH - beginning of period                                     13,880         4,360            11,352
                                                            -----------   -----------   ---------------
 CASH - end of period                                     $      2,118  $        455  $          2,118
                                                            ===========   ===========   ===============
 SUPPLEMENTAL CASH FLOW INFORMATION

       Cash paid during the year for:
         Income taxes paid                                $          -  $          -  $          2,683
                                                            ===========   ===========   ===============
         Interest paid                                    $          -  $          -  $         15,422
                                                            ===========   ===========   ===============
       Non-cash financing and investing activities:
         Settlement of accrued salary                     $          -  $          -  $        162,500
                                                            ===========   ===========   ===============
         Issusance of stock in connection with
            settlement                                    $          -  $          -  $          2,000
                                                            ===========   ===========   ===============
</TABLE>



                       See notes to financial statements.

                                        3



<PAGE>




                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)
                          Notes to Financial Statements
                               September 30, 2002

1.       SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         INTERIM FINANCIAL STATEMENTS:

         The accompanying financial statements are unaudited. In the opinion of
         management, all necessary adjustments (which include only normal
         recurring adjustments) have been made to present fairly the financial
         position, results of operations and cash flows for the periods
         presented. Certain information and note disclosures normally included
         in financial statements prepared in accordance with generally accepted
         accounting principles have been condensed or omitted. It is suggested
         that these financial statements be read in conjunction with the
         financial statements and notes thereto included in the December 31,
         2001 annual report on Form 10-KSB. The results of operations for the
         nine-month period ended September 30, 2002 are not necessarily
         indicative of the operating results to be expected for the full year.

2.       INVESTMENTS:

         At September 30, 2002 investment in securities consisted of common
         stock of Sterlite Gold Ltd. (formerly First Dynasty Mines, Ltd.)
         classified as available for sale and stated at a quoted fair value of
         $193,574. The cost of the securities was $153,535. The unrealized gain
         as of September 30, 2002 was $40,039, which is shown as a separate
         component of stockholders' equity.



                                       4
<PAGE>





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

When used in this discussion, the words "expect(s)","feel(s)", "believe(s)",
"will", "may", "anticipate(s)" and similar expressions are intended to identify
forward-looking statements. Such statements are subject to certain risks and
uncertainties, which could cause actual results to differ materially from those
projected. Readers are cautioned not to place undue reliance on these
forward-looking statements, and are urged to carefully review and consider the
various disclosures elsewhere in this Form 10-QSB.

RESULTS OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001

During the three-months ended September 30, 2002, the Company's administrative
and other expenses were $12,420, which represented an increase from the amount
paid or accrued of $266 in the same period last year. The expense increase was
attributable to higher accounting and legal expenses.

NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001

During the nine-months  ended  September 30, 2002, the Company's  administrative
and other expenses were $26,342,  which  represented an increase from the amount
paid or accrued of $18,099 in the same  period last year.  The expense  increase
was attributable to higher accounting and legal expenses.

LIQUIDITY AND CAPITAL RESOURCES

As of September 30, 2002, the Company's total assets were $195,692, of which
$2,118 consisted of cash or cash equivalents.

The Company's plan of operation for calendar year 2002 is:

a.       to investigate opportunities, and possibly implement operations,  in
         the   mineral development and production area; and

b.       to  investigate other investment opportunities in the mineral
         development and production areas.

In October, 2002 the Company executed agreements on cooperation with two private
companies in Armenia to study the development of mining properties in Southern
Armenia.

                                       5
<PAGE>

The Company needs financing to meet its anticipated monthly administrative
expenses of $3,000 (exclusive of accrued officers' compensation), plus
additional amounts for legal and accounting costs. The Company anticipates that
it might obtain additional financing in 2002 from the holders of its Warrants to
purchase 330,000 shares of Common Stock of the Company at an exercise price of
$0.25 per share, which expire on October 31, 2003. If the Warrants were
exercised in full, the Company would receive $82,500 in gross proceeds. However,
the Company does not believe that the Warrants will be exercised under existing
circumstances, and thus it does not anticipate that any amount will be received
from such source, although there can be no assurance of such result. In the
event that no contemplated financing is obtained through the exercise of the
warrants (which the Company considers highly remote), the Company does not have
sufficient financial resources to meet its obligations.

The Company does not intend to engage in any research and development during
2002 and does not expect to purchase or sell any plant or significant equipment.

The Company does not expect to hire any additional full-time employees in 2002.

PART II - OTHER INFORMATION

Item 1.        Legal Proceedings: None

Item 2.        Changes in Securities and Use of Proceeds: None

Item 3.         Default Upon Senior Securities: None

Item 4.         Controls and Procedures

         Within the 90-day period prior to the filing of this report, an
evaluation was carried out under the supervision and with the participation of
the Company's Chief Executive Officer and Chief Financial Officer of the
effectiveness of our disclosure controls and procedures (as defined in the
Securities Exchange Act of 1934 Rules 13a-14 and 15d - 14). Based on that
evaluation, the Chief Executive Officer and Chief Financial Officer have
concluded that the Company's disclosure controls and procedures are effective to
ensure that information required to be disclosed by the Company in reports that
it files or submits under the Securities Exchange Act of 1934 is recorded,
processed, summarized and reported within the time periods specified in
Securities and Exchange Commission rules and forms. ___ Subsequent to the date
of their evaluation, there were no significant changes in the Company's internal
controls or in other factors that could significantly affect the disclosure
controls, including any corrective actions with regard to significant
deficiencies and material weaknesses.


                                       6
<PAGE>


Item 5.       Other Information: None

Item 6.       Exhibits

     (a)          The following documents are filed as part of this
                  report. Financial Statement of the Company (unaudited),
                  including the balance sheet as of September 30, 2002, the
                  statements of income and loss for the three months and nine
                  months ended September 30, 2002 and September 30, 2001, the
                  statements of cash flows for the nine months ended September
                  30, 2002 and September 30, 2001 and for the development stage
                  period from January 1, 1995 through September 30, 2002 and the
                  Exhibits which are listed on the Exhibit index.



EXHIBIT NO.       DESCRIPTION OF EXHIBIT

10.53    Employment Agreement between the Registrant and Drury J. Gallagher
         dated as of July 1, 2002.

10.54    Employment Agreement between the Registrant and Robert A. Garrison
         dated as of July 1, 2002.

10.55    Stock Option Agreement between the Registrant and Drury J. Gallagher
         dated as of July 1, 2002.

10.56    Stock Option Agreement between the Registrant and Robert A. Garrison
         dated as of July 1, 2002.

99.1     Certification of Chief Executive Officer

99.2     Certification of Chief Financial Officer




    (b)           Reports on Form 8-K filed during the quarter ended September
                  30, 2002:  None



SIGNATURES

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

GLOBAL GOLD CORPORATION


By:/s/ Drury J. Gallagher                                     November 19, 2002
   --------------------------------
Drury J. Gallagher, Chairman,
Chief Executive Officer and Treasurer


                                       7

<PAGE>
                                  CERTIFICATION


     I, Drury J. Gallagher,  the Chairman, Chief Executive Officer and Treasurer
of Global Gold Corporation (the "Company"), certify that:

          1. I have  reviewed  this  quarterly  report  on  Form  10-QSB  of the
     Company;

          2. Based on my knowledge,  this quarterly  report does not contain any
     untrue  statement  of a  material  fact or omit to  state a  material  fact
     necessary to make the statements made, in light of the circumstances  under
     which such  statements were made, not misleading with respect to the period
     covered by this quarterly report;

          3.  Based  on  my  knowledge,  the  financial  statements,  and  other
     financial  information included in this quarterly report, fairly present in
     all material  respects the financial  condition,  results of operations and
     cash flows of the registrant as of, and for, the periods  presented in this
     quarterly report;

          4. The registrant's  other  certifying  officers and I are responsible
     for  establishing  and maintaining  disclosure  controls and procedures (as
     defined in Exchange Act Rules 13a-14 and 15d- 14) for the registrant and we
     have:

                           (a)      designed such disclosure controls and
                                    procedures to ensure that material
                                    information relating to the registrant,
                                    including its consolidated subsidiaries, is
                                    made known to us by others within those
                                    entities, particularly during the period in
                                    which this quarterly report is being
                                    prepared;
                           (b)      evaluated the effectiveness of the
                                    registrant's disclosure controls and
                                    procedures as of a date within 90 days prior
                                    to the filing date of this quarterly report
                                    (the "Evaluation Date"); and
                           (c)      presented in this quarterly report our
                                    conclusions about the effectiveness of the
                                    disclosure controls and procedures based on
                                    our evaluation as of the Evaluation Date;





<PAGE>



          5. The registrant's  other  certifying  officers and I have disclosed,
     based on our most recent evaluation,  to the registrant's  auditors and the
     audit committee of registrant's  board of directors (or persons  performing
     the equivalent function):

                           (a)      all significant deficiencies in the
                                    design or operation of internal controls
                                    which could adversely affect the
                                    registrant's ability to record, process,
                                    summarize and report financial data and have
                                    identified for the registrant's auditors any
                                    material weaknesses in internal controls;
                                    and
                           (b)      any fraud, whether or not material, that
                                    involves management or other employees who
                                    have a significant role in the registrant's
                                    internal controls; and

          6. The registrant's other certifying  officers and I have indicated in
     this  quarterly  report  whether or not there were  significant  changes in
     internal  controls  or in other  factors  that could  significantly  affect
     internal  controls  subsequent  to the date of our most recent  evaluation,
     including any corrective  actions with regard to  significant  deficiencies
     and material weaknesses.



Date: November 19, 2002


                                            Drury J. Gallagher
                                            Chairman and Chief Executive Officer





                                       8
<PAGE>
                                  CERTIFICATION


     I, Robert A. Garrison,  the President, ChiefOficer Financial and Chief
Operating  Officer of Global Gold Corporation (the "Company"), certify that:

          1. I have  reviewed  this  quarterly  report  on  Form  10-QSB  of the
     Company;

          2. Based on my knowledge,  this quarterly  report does not contain any
     untrue  statement  of a  material  fact or omit to  state a  material  fact
     necessary to make the statements made, in light of the circumstances  under
     which such  statements were made, not misleading with respect to the period
     covered by this quarterly report;

          3.  Based  on  my  knowledge,  the  financial  statements,  and  other
     financial  information included in this quarterly report, fairly present in
     all material  respects the financial  condition,  results of operations and
     cash flows of the registrant as of, and for, the periods  presented in this
     quarterly report;

          4. The registrant's  other  certifying  officers and I are responsible
     for  establishing  and maintaining  disclosure  controls and procedures (as
     defined in Exchange Act Rules 13a-14 and 15d-14) for the  registrant and we
     have:

               (1)                  designed such disclosure controls and
                                    procedures to ensure that material
                                    information relating to the registrant,
                                    including its consolidated subsidiaries, is
                                    made known to us by others within those
                                    entities, particularly during the period in
                                    which this quarterly report is being
                                    prepared;

               (2)                  evaluated the effectiveness of the
                                    registrant's disclosure controls and
                                    procedures as of a date within 90 days prior
                                    to the filing date of this quarterly report
                                    (the "Evaluation Date"); and

               (3)                  presented in this quarterly  report our
                                    conclusions  about the effectiveness of the
                                    disclosure controls and procedures based on
                                    our evaluation as of the Evaluation Date;


<PAGE>



                  5. The registrant's other certifying officers and I have
disclosed, based on our most recent evaluation, to the registrant's auditors and
the audit committee of registrant's board of directors (or persons performing
the equivalent function):

               a)   all  significant  deficiencies in the design or operation of
                    internal   controls   which  could   adversely   affect  the
                    registrant's  ability  to  record,  process,  summarize  and
                    report   financial   data  and  have   identified   for  the
                    registrant's  auditors any material  weaknesses  in internal
                    controls;  and (1) any fraud, whether or not material,  that
                    involves   management   or  other   employees   who  have  a
                    significant role in the registrant's internal controls;  and
                    6. The  registrant's  other  certifying  officers and I have
                    indicated in this quarterly report whether or not there were
                    significant changes in internal controls or in other factors
                    that could significantly affect internal controls subsequent
                    to the date of our most  recent  evaluation,  including  any
                    corrective  actions with regard to significant  deficiencies
                    and material weaknesses.



Date: November 19, 2002

                                              Robert A. Garrison
                                              President, Chief Financial Officer
                                              and Chief Operating Officer