UNITED STATES
                       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 June 30, 2005

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

           For the transition period from ____________ to ____________

                         Commission file number 02-69494



                             GLOBAL GOLD CORPORATION
                             -----------------------
              (Exact name of small business issuer in its charter)

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

                    104 Field Point Road, Greenwich, CT 06830
                    -----------------------------------------
                    (Address of principal executive offices)

                                 (203) 422-2300
                           --------------------------
                           (Issuer's telephone number)

                                 Not applicable
  ----------------------------------------------------------------------------
 (Former name, former address and former fiscal year, if changed since last
  report)

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 a court. Yes [ ] No [ ]. Not applicable.

As of August 12, 2005 there were 17,551,301 shares of the issuer's Common Stock
outstanding.

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


<PAGE>

                                TABLE OF CONTENTS

                          PART I FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements (Unaudited)
         Condensed Consolidated Balance Sheet - as of June 30, 2005 ..........3

        Condensed Consolidated Statements of Operations for the three
         months and six months ended June 30, 2005 and June 30, 2004
         and for the development stage period from January 1, 1995
         through June 30, 2005 ...............................................4

        Condensed Consolidated Statements of Cash Flows for the six
         months ended June 30, 2005 and June 30, 2004 and for the
         development stage period from January 1, 1995 through
         June 30, 2005 .......................................................5

        Notes to Condensed Consolidated Financial Statements (Unaudited) ...6-8

Item 2. Management's Discussion and Analysis or Plan of Operation ..........8-9

Item 3. Controls and Procedures ..............................................9

                            PART II OTHER INFORMATION

Item 1. Legal Proceedings ....................................................9

Item 2. Changes in Securities ................................................9

Item 3. Defaults Upon Senior Securities ......................................9

Item 4  Submission of Matters to a Vote of Security Holders .................10

Item 5  Other Information ...................................................10

Item 6. Exhibits and Reports on Form 8-K ....................................10

SIGNATURES

CERTIFICATIONS



<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)

                 Unaudited Condensed Consolidated Balance Sheet

                                  June 30, 2005


                                     ASSETS
                                     ------


CURRENT ASSETS: Cash ................................................$  572,666
MINE ACQUISITION COSTS .................................................449,804
                                                                     ----------
                                                                     $1,022,470
                                                                     ==========
                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------

CURRENT LIABILITIES: Accounts payable and accrued expenses...........$   46,579


STOCKHOLDERS' EQUITY
         Common stock $0.001 par, 100,000,000 shares authorized,
                  13,461,301 shares issued and outstanding...............13,461
         Additional paid-in-capital ..................................8,190,154
         Unearned compensation.........................................(501,320)
         Accumulated deficit.........................................(2,907,648)
         Deficit accumulated during the development stage ...........(3,818,756)
                                                                     -----------
                  TOTAL STOCKHOLDERS' EQUITY ...........................975,891
                                                                     -----------
                                                                     $1,022,470
                                                                     ==========

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

                                       3

<PAGE>

                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)

            Unaudited Condensed Consolidated Statements of Operations


<TABLE>
<CAPTION>

                                                                                                             Cumulative
                                                                                                             amount from
                                        April 1, 2005   April 1, 2004   January 1, 2005  January 1, 2004   January 1, 1995
                                           through         through          through          through           through
                                        June 30, 2005   June 30, 2004    June 30, 2005    June 30, 2004     June 30, 2005
                                        -------------   -------------    -------------    -------------    --------------
<S>                                     <C>        <C>  <C>        <C>   <C>        <C>   <C>        <C>   <C>         <C>
REVENUES                                $         -0-   $         -0-    $         -0-    $         -0-    $          -0-

EXPENSES:

Selling general and administrative           200,822         194,320          406,808         405,363          2,958,185
Mine exploration costs                       117,918           4,500          163,120          30,905            394,412
Legal fees                                    48,473          17,460           49,710          19,541            766,637
Write-off investment in Georgia
   mining interests                              ---                              ---                            135,723
Gain on sale of interest in Global
   Gold Armenia                                  ---                              ---                           (268,874)
(Gain) loss on sale of interest in
Sterlite Gold Ltd.                               ---          (6,607)             ---          (8,748)           (50,767)
Gain on extinguisment of debt                    ---             ---              ---             ---           (110,423)
Interest Income                               (2,407)            ---           (5,578)            ---             (6,137)
                                        -------------   -------------    -------------   -------------     --------------
         TOTAL EXPENSES                      364,806         209,673          614,060         447,061          3,818,756

NET LOSS                                    (364,806)       (209,673)        (614,060)       (447,061)        (3,818,756)
                                        =============   =============    =============   =============     ==============

NET LOSS PER SHARE-BASIC AND
   DILUTED                                    $(0.03)         $(0.02)          $(0.05)         $(0.05)
                                        =============   =============    =============   =============

WEIGHTED AVERAGE SHARES OUTSTANDING
                                          13,461,301       9,802,345       13,409,927       9,805,239
                                        =============   =============    =============   =============
</TABLE>


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

                                       4

<PAGE>

                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)

            Unaudited Condensed Consolidated Statements of Cash Flows
<TABLE>
<CAPTION>


                                                                                                            Cumulative Amount
                                                                                                                   from
                                                           January 1, 2005           January 1, 2004         January 1, 1995
                                                               through                   through                   through
                                                            June 30, 2005             June 30, 2004           June 30, 2005
                                                          -----------------        ------------------       ------------------
<S>                                                       <C>                      <C>                      <C>
NET CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss................................................. $       (614,060)        $        (447,061)       $      (3,818,756)
Adjustments to reconcile net loss
to net cash used in operating activities:
     Provision for bad debts.............................              ---                       ---                  325,000
     Amortization of unearned compensation...............          131,914                   164,842                  614,472
     Gain on extinguishment of debt................                    ---                       ---                 (110,423)
     Gain on sale of Armenia mining
       interests.........................................              ---                       ---                 (268,874)
     Write-off of mining investment in
       Georgia...........................................              ---                       ---                  135,723
     (Gain) loss on sale of investment
       in common stock of Sterlite Gold Ltd                            ---                    (8,748)                 (50,767)
     Non-cash expenses related to issuance of
       common stock......................................              ---                       ---                  174,500
Changes in assets and liabilities:
     Organization costs..................................              ---                       ---                   (9,601)
     Accounts receivable and deposits....................              ---                       ---                     (154)
     Accounts payable and accrued expenses...............           40,137                    37,397                  387,196
                                                          -----------------        ------------------       ------------------

  NET CASH FLOWS USED IN OPERATING ACTIVITIES                     (442,009)                 (253,570)              (2,621,684)
                                                          -----------------        ------------------       ------------------
NET CASH FLOWS FROM INVESTING ACTIVITIES:
     Proceeds from sale of Armenia mining
       interests.........................................              ---                       ---                1,891,155
     Proceeds from sale of investment in
       common stock of Sterlite Gold Ltd.................              ---                    34,879                  246,767
     Investment in certain mining interests
       - net of financing................................              ---                       ---                 (153,494)
     Mine acquisition costs..............................              407                   (32,678)              (1,239,035)
                                                          -----------------        ------------------       ------------------
  NET CASH PROVIDED BY (USED IN)
       INVESTING ACTIVITIES                                            407                     2,201                  745,393
                                                          -----------------        ------------------       ------------------
NET CASH FLOWS FROM FINANCING ACTIVITIES:
     Net proceeds from private placement
       offering..........................................              ---                       ---                2,484,073
     Repurchase of common stock..........................              ---                       ---                  (25,000)
     Due to related parties..............................              ---                   111,000                  (22,218)
     Sale of warrants....................................              ---                       ---                      650
     Warrants exercised..................................              ---                       ---                      100
                                                          -----------------        ------------------       ------------------
  NET CASH FLOWS PROVIDED BY FINANCING
       ACTIVITIES                                                      ---                   111,000                2,437,605
                                                          -----------------        ------------------       ------------------
NET INCREASE (DECREASE) IN CASH..........................         (441,602)                 (140,369)                 561,314
CASH AND CASH EQUIVALENTS - beginning of
     period..............................................        1,014,268                   147,247                   11,352
                                                          -----------------        ------------------       ------------------
CASH AND CASH EQUIVALENTS - end of period................ $        572,666         $           6,878        $         572,666
                                                          -----------------        ------------------       ------------------
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid........................................ $              0         $               0        $           2,683
                                                          =================        ==================       ==================
Interest paid............................................ $              0         $               0        $          16,502
                                                          =================        ==================       ==================
Noncash Transactions:

Stock issued for unearned compensation................... $        425,000         $         125,000        $       1,247,500
                                                          =================        ==================       ==================
Stock issued for closing fees............................ $            ---         $             ---        $          45,000
                                                          =================        ==================       ==================
Stock forfeiture......................................... $            ---         $             ---        $         131,708
                                                          =================        ==================       ==================
Stock issued for mine acquisition costs.................. $            ---         $             ---        $         113,197
                                                          =================        ==================       ==================
Stock issued in exchange for accounts payable............ $            ---         $          76,608        $         138,500
                                                          =================        ==================       ==================
</TABLE>

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

                                       5

<PAGE>

                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)
              Notes to Condensed Consolidated Financial Statements
                                   (Unaudited)
                                 June 30, 2005



1. BASIS FOR PRESENTATION

The accompanying financial statements present the development stage activities
of the Company and its wholly owned subsidiaries from January 1, 1995, the
period commencing the Company's operations as Global Gold Corporation, through
June 30, 2005.

The accompanying financial statements are unaudited and have been prepared in
accordance with generally accepted accounting principles for interim financial
information and instructions to Form 10-QSB. 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 footnote
disclosure normally included in financial statements prepared in accordance with
accounting principles generally accepted in the United States of America have
been condensed or omitted. However, the Company believes that the disclosures
are adequate to make the information presented not misleading. These financial
statements should be read in conjunction with the financial statements and notes
thereto included in the December 31, 2004 annual report on Form 10-KSB. The
results of operations for the six-month period ended June 30, 2005 are not
necessarily indicative of the operating results to be expected for the full year
ended December 31, 2005.

2. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Transactions with Officers and Directors
On January 11, 2005, the Company amended and extended for two years ending June
30, 2008, the Employment Agreement with Van Krikorian, who became President and
General Counsel as of October 1, 2004. The amended compensation terms included
an increase in base compensation to $180,000 per year and the granting of an
additional 600,000 shares as a stock award subject to a substantial risks of
forfeiture on the same terms as provided in the original Employment Agreement.

The Company issued 50,000 shares to each of the five Directors as of January
11, 2005 at the fair market value of $0.50 per share, as determined by the Board
of Directors. Such amounts have been reflected as unearned compensation and are
being amortized into compensation expense on a straight-line basis over the term
of the agreements. Compensation expense for the six months ended June 30, 2005
and 2004 were $272,264 and $314,842, respectively.

The amount of total unearned compensation amortized for the six months ended
June 30, 2005 and 2004 was $131,914 and $164,842, respectively.

3. EQUITY TRANSACTIONS

On January 11, 2005, the Company amended and extended for two years ending June
30, 2008, the Employment Agreement with Van Krikorian, who became President and
General Counsel as of October 1, 2004. The amended compensation terms included
an increase in base compensation to $180,000 per year and the granting of an
additional 600,000 shares as a stock award subject to a substantial risks of
forfeiture on the same terms as provided in the original Employment Agreement.

                                       6

<PAGE>

The Company issued 50,000 shares to each of the five Directors as of January
11, 2005 at the fair market value of $0.50 per share, as determined by the Board
of Directors. Such amounts have been reflected as unearned compensation and are
being amortized into compensation expense on a straight-line basis over the term
of the agreements.


 4.  AGREEMENTS

On March 28, 2005, the Company's subsidiary Minero Global Chile Limitada entered
an agreement with Adrian Soto Torino to provide mine preparation work and mining
on the previously mined vein structure at the Santa Candalaria mine in Region
III of Chile.


5. SUBSEQUENT EVENTS -

(a)On July 13, 2005, the Company held its annual shareholders meeting at its
offices pursuant to the June 10, 2005 notice and proxy statement. By a vote of
11,735,202 shares for, 180 shares against, and 150 shares abstaining, (i)Messrs.
Nicholas Aynilian, Drury J. Gallagher, Ian Hague, Van Krikorian, and Michael
Mason were reelected as directors; and (ii) Allen G. Roth, PA was appointed as
the Company's auditor for the fiscal year 2005.

(b) On July 13, 2005, the Company's subsidiary, Minero Global Chile Limitada,
began small scale production at the Santa Candalaria mine pursuant to the March
28, 2005 contract.

(c) On July 13, 2005, the Company named Lester Caesar, formerly Chief Accounting
Officer, as its Chief Financial Officer.

(d) On July 29, 2005, the Company closed a private placement raising three
million dollars to fund acquisition of the Tukhmanuk mining property in Armenia
as well as to further its current mining and exploration projects and for
working capital. The transaction involved the issuance of four million shares of
common stock at $0.75 per share. Each new share issued carries a warrant to
purchase one half of one additional share at $1.50 per share. The warrants are
exercisable on or before July 31, 2007. Subscribers to shares and their
corresponding amounts purchased were: Firebird Global Master Fund, Ltd. to
1,000,000 shares; Firebird Republics Fund, Ltd. to 500,000 shares; Firebird
Avrora Fund, Ltd. to 500,000 shares; East Capital to 666,667 shares; Falcon QP
LP to 533,333 shares; Dover Industries Corp. to 333,333 shares; Bank Sal
Oppenheim jr & Cie (Switz) Ltd to 200,000 shares; Richard Potapchuk to 75,000
shares; Holmes Revocable Trust to 50,000 shares; Ralph M. Richart to 50,000
shares; David Parry to 50,000 shares; and Dan Pedersen to 41,667 shares.

(e) On August 1, 2005, the Company's subsidiary Global Gold Mining, LLC ("GGM")
entered an agreement to acquire the Tukhmanuk gold mining property and
surrounding exploration sites. The Tukhmanuk property is adjacent to Global
Gold's Hankavan property in central Armenia, between the Aragatsotn and Kotayk
provinces. In addition to the central property, the acquisition includes a
200,000 tonne per year capacity plant and the Damlik, Mirak, Grebnevaya,
Ozyornaya, Emin Yourt, Voskedzor, and Dalma exploration sites. The property is
held by the Armenian company Mego-Gold, LLC, ("MG") for which GGM, agreed to pay
$3,500,000. GGM is initially paying $1,500,000 for 51% of MG and paying the
balance of the purchase price for the remaining 49% within two years. The
transaction closed on August 8, 2005 when GGM transferred the first $1,500,000
payment to the sellers in exchange for 51% of MG and issuance of the necessary
mining licenses by the Armenian Government to MG.

                                       7

<PAGE>

(f) On August 1, 2005, the Company's subsidiary GGM entered three-year
employment agreements in Armenia with Messrs. Simon Cleghorn and Frank
Pastorino, as Director of Mining and Exploration and Director of Business
Operations, respectively. The terms of both contracts are identical, with
compensation at $100,000 per year and restricted stock awards of the Company's
shares of 45,000 each vesting at a rate of 15,000 shares per year. Each contract
is for three years and provides that each employee shall devote 80% of his
available time to his duties. Mr. Cleghorn received his Bachelor of Engineering
in Mineral Exploration and Mining Geology with honors from the Western Australia
School of Mines in 1989 and has worked in Armenia since 1997. Mr. Pastorino
received his Bachelor of Science degree in 1999 and Masters of Business
Administration degree in 1999 both from the University of Louisville and has
worked in Armenia since 2002, starting as a US Peace Corps volunteer.


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

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

SIX-MONTHS ENDED JUNE 30, 2005 AND SIX-MONTHS ENDED JUNE 30, 2004

During the six-month period ended June 30, 2005, the Company's administrative
and other expenses were $619,638, which represented an increase of $163,829 from
$455,809 in the same period last year. The expense increase was primarily
attributable to higher legal expense of $30,169, insurance expense of $23,841,
and mine exploration costs of $132,215 due to increased activity resulting from
project development in Armenia and Chile.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2005, the Company's total assets were $1,022,470, of which
$572,666 consisted of cash or cash equivalents.

The Company's plan of operation for the calendar year 2005 is:

(a) To continue exploration activities and mining with regard to the Santa
Candalaria Chilean mining properties purchased in February 2004;

(b) To develop the Hankavan and Marjan mining properties in Armenia acquired in
December 2003, to develop the Tukhmanuk mining property and the surrounding
exploration sites, to engage in further exploration in Armenia, and to pursue
and consummate the acquisition of the Armenia mining properties from Sipan 1,
LLC, and develop those properties through a joint venture;

(c) To review and possibly acquire additional mineral bearing properties; and

(d) Pursue additional financing through private placements or joint ventures.

The Company retains the right until December 31, 2009 to elect to participate at
a level of up to twenty percent with Sterlite Gold Ltd. or any of its affiliates
in any exploration project undertaken in Armenia.

                                       8

<PAGE>

The Company also anticipates spending additional funds in Armenia for further
exploration and development as well as acquisition of properties. The Company
anticipates that it may have to issue additional equity or debt to finance its
planned activities. The Company anticipates that it might obtain additional
financing 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, 2005. If the Warrants were exercised in full, the Company would
receive $82,500 in gross proceeds. In addition, the Company anticipates that it
might obtain additional financing from the holders of its Warrants to purchase
3,000,000 million shares of Common Stock of the Company at an exercise price of
$0.75 per share, which expire on December 1, 2006. If these Warrants were
exercised in full, the Company would receive $2,250,000 in gross proceeds. The
Company anticipates that it might obtain additional financing from the holders
of its Warrants to purchase 2,000,000 shares of Common Stock of the Company at
an exercise price of $1.50 per share, which expire on July 31, 2007. If these
Warrants were exercised in full, the Company would receive $3,000,000 in gross
proceeds.

The Company does not intend to engage in any research and development during
2005 and does not expect to sell any plant or significant equipment; it does
anticipate purchasing processing plant and equipment assets.

The Company has been able to continue its development stage activities based
upon its receipt of funds from the issuance of equity securities and shareholder
loans, and by acquiring assets or paying expenses by issuing stock. The
Company's continued existence is dependent upon its continued ability to raise
funds through the issuance of our securities or borrowings. Management's plans
in this regard are to obtain other debt and equity financing until profitable
operation and positive cash flow are achieved and maintained. Although
management believes that it will be able to secure suitable additional financing
for the Company's operations, there can be no guarantee that such financing will
continue to be available on reasonable terms, or at all.


Item 3.  Controls and Procedures.

As of the end of the period covered by 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 Rules 13a-14 and 15d-14 under
the Securities Exchange Act of 1934). 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 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.

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

None

Item 2. Changes in Securities.



None


Item 3. Defaults Upon Senior Securities.


None

                                       9

<PAGE>

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


None

Item 5. Other Information.


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

a. The following documents are filed as part of this report:

         o    Unaudited Condensed Financial Statements of the Company, including
              Balance Sheet as of June 30, 2005; Statements of Operations and
              Statements of Cash Flows for the three-months and six months ended
              June 30, 2005 and June 30, 2004, and for the development stage
              period from January 1, 1995 through June 30, 2005 and the Exhibits
              which are listed on the Exhibit Index.


EXHIBIT NO.               DESCRIPTION OF EXHIBIT

Exhibit 31.1              Certification of Chief Executive Officer pursuant to
                          Section 302 of the Sarbanes-Oxley Act of 2002


Exhibit 31.2              Certification of Chief Financial Officer pursuant to
                          Section 302 of the Sarbanes-Oxley Act of 2002


Exhibit 32.1              Certification of Chief Executive Officer pursuant to
                          Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 32.2              Certification of Chief Financial Officer pursuant to
                          Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 10.1              August 1, 2005 Employment Agreement of Simon Cleghorn

Exhibit 10.2              August 1, 2005 Employment Agreement of Frank Pastorino


(b) Reports on Form 8-K filed during the quarter ended June 30, 2005




Current Reports on Form 8-K, filed with the Securities and Exchange Commission
on July 15, 2005, under Item 8.01 of Form 8K and on August 3, 2005 under Items
1.01, 3.02, and 9.01 of Form 8K.


                                       10

<PAGE>

SIGNATURES

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

                                                    GLOBAL GOLD CORPORATION



                                                  By:  /s/ Drury J. Gallagher
August 12, 2005                                        -------------------------
                                                       Drury J. Gallagher,
                                                       Chairman, Chief Executive
                                                       Officer and Treasurer