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, 2001

/  /     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, SUITE 383, GARDEN CITY, NEW YORK                 11530-4525
--------------------------------------------------------------------------------
(Address of principal executive offices)                              (Zip Code)

                    Issuer's telephone number (516) 627-2388

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, 2001 there were 4,368,114 shares of the registrant's Common
Stock outstanding.

Transitional Small Business Disclosure Format (check one):  Yes /  /  No /X/.






<PAGE>



                                  TABLE OF CONTENTS


PART I   FINANACIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

           Balance Sheet - as of September 30, 2001                          1

           Statements of Income and Loss for the three months and
           nine months ended September 30, 2001 and September 30, 2000       2

           Statements  of Cash  Flows - for the nine months ended
           September 30, 2001  and September 30, 2000 and for the
           development  stage  period  from January 1, 1995 through
           September 30, 2001                                                3

          Notes to Financial Statements                                      4

Item 2. Management's Discussion and Analysis or Plan of Operation          5-7

PART II  OTHER INFORMATION

Item 1.  Legal Proceedings                                                   7
Item 2.  Changes in Securities and Use of Proceeds                           7
Item 3   Default Upon Senior Securities                                      7
Item 4   Submission of Matters to a Vote of Security Holders                 7
Item 5   Other Information                                                   7
Item 6.  Exhibits and Reports on Form 8-K                                    7

SIGNATURE                                                                    8


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

                                  BALANCE SHEET

                               SEPTEMBER 30, 2001
                                   (Unaudited)

                                     ASSETS

Cash                                                         $             455

Investment in First Dynasty Mines, Ltd.                                 57,000
                                                                ----------------

                                                             $          57,455
                                                                ================



                      LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
     Accounts payable and accrued expenses                   $          73,553
     Due to related parties                                             22,218
                                                                ----------------

                                                                        95,771
                                                                ----------------


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              (4,738,639)
     Unrealized loss on investment                                    (139,000)
                                                                ----------------

         TOTAL STOCKHOLDERS' DEFICIT                                   (38,316)
                                                                ----------------


                                                             $          57,455
                                                                ================








                       See notes to financial statements.

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

                 STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
                                  (Unaudited)

<TABLE>
<CAPTION>


                                                  Three months Ended         Nine months Ended             January 1, 1995
                                               September 30,                 September 30,                     through
                                              --------------------------    ---------------------------     September 30,
                                                 2001           2000           2001           2000              2001
                                              -----------    -----------    ------------   ------------    ---------------
<S>                                        <C>            <C>            <C>             <C>            <C>
 REVENUES                                  $           -  $           -  $            -  $           -  $               -
                                              -----------    -----------    ------------   ------------    ---------------
 EXPENSES:
      Selling, general and administrative             75          1,190          12,335         14,724            765,224
      Legal fees                                     416          3,094           5,989         12,797            629,682
      Compensation                                     -              -               -              -            550,834
      Write-off investment in Georgia
         mining interests                              -              -               -              -            135,723
      Gain on sale of interest in
         Global Gold Armenia                           -              -               -              -           (268,874)
      Miscellaneous other                           (225)            95            (225)          (348)            18,402
                                              -----------    -----------    ------------   ------------    ---------------
             TOTAL EXPENSES                         (266)        (4,379)        (18,099)       (27,173)        (1,830,991)
                                              -----------    -----------    ------------   ------------    ---------------
 NET LOSS                                  $        (266) $      (4,379) $      (18,099) $     (27,173) $      (1,830,991)
                                              -----------    -----------    ------------   ------------    ===============
 NET LOSS PER SHARE-BASIC AND DILUTED      $       (0.00) $       (0.00) $        (0.00) $       (0.01) $
                                              ===========    ===========    ============   ============
 WEIGHTED AVERAGE SHARES OUTSTANDING           4,368,114      4,368,114       4,368,114      4,360,568
                                              ===========    ===========    ============   ============




 NET LOSS                                  $        (266) $      (4,379) $      (18,099) $     (27,173) $      (1,830,991)

 OTHER COMPREHENSIVE LOSS:

 Unrealized loss on available-
      FOR-SALE SECURITIES                        (33,000)             -         (33,000)       (60,000)          (139,000)
                                              -----------    -----------    ------------   ------------    ---------------
 COMPREHENSIVE LOSS                        $     (33,266)$       (4,379) $      (51,099)$      (87,173)$       (1,969,991)
                                              ===========    ===========    ============   ============    ===============


</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,
                                                               2001           2000            2001
                                                             -----------   ------------   ----------------


 CASH FLOWS FROM DEVELOPMENT STAGE
       ACTIVITIES:

<S>                                                      <C>            <C>            <C>
       Net Loss                                          $     (18,099) $     (27,173) $      (1,830,991)
                                                            -----------   ------------   ----------------
       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
       Changes in assets and liabilities:
           Organization costs                                        -              -             (9,601)
           Accounts receivable and deposits                          -              -               (154)
           Accounts payable and accrued expenses                14,194         26,036            356,874
                                                            -----------   ------------   ----------------
 NET CASH USED IN OPERATING ACTIVITIES                          (3,905)        (1,137)        (1,292,023)
                                                            -----------   ------------   ----------------

 CASH FLOW FROM INVESTING ACTIVITIES:
       Proceeds from sale of Armenia mining interests                -              -          1,891,155
       Investment in certain mining
           interests - net of financing                              -              -           (153,494)
       Deferred costs - mining interests                             -              -           (878,858)
                                                            -----------   ------------   ----------------
 NET CASH PROVIDED BY INVESTING ACTIVITIES                           -              -            858,803
                                                            -----------   ------------   ----------------

 CASH FLOW FROM FINANCING ACTIVITIES:
       Net proceeds from private
           placement offering                                        -              -            421,573
       Sale of warrants                                              -              -                650
       Warrants exercised                                            -              -                100
                                                            -----------   ------------   ----------------
 NET CASH PROVIDED BY FINANCING ACTIVITIES                           -              -            422,323
                                                            -----------   ------------   ----------------

 NET DECREASE IN CASH                                           (3,905)        (1,137)           (10,897)

 CASH - beginning of period                                      4,360          1,432             11,352
                                                            -----------   ------------   ----------------
 CASH - end of period                                    $         455  $         295  $             455
                                                            ===========   ============   ================
                                                                                                      -

 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
                settlememt                               $           -  $           -  $           2,000
                                                            ===========   ============   ================


</TABLE>


                       See notes to financial statements.

                                        3

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

                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2001

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,
         2000 annual report on Form 10-KSB. The results of operations for the
         nine month period ended September 30, 2001 are not necessarily
         indicative of the operating results to be expected for the full year.

2.       INVESTMENTS:

         At September 30, 2001 investment in securities consisted of common
         stock of First Dynasty Mines, Ltd. classified as available for sale and
         stated at a quoted fair value of $57,000. The cost of the securities
         was $196,000. The unrealized loss as of September 30, 2001 was
         $139,000, which is shown as a separate component of stockholders'
         deficit.

                                       4
<PAGE>
ITEM 2. 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

     THREE MONTHS ENDED  SEPTEMBER 30, 2001 AND THREE MONTHS ENDED SEPTEMBER 30,
     2000

     During the  three-month  period ended  September  30, 2001,  the  Company's
     administrative  and other expenses were $266, which  represented a decrease
     from the amount paid or accrued of $4,379 in the same period last year. The
     expense  decrease was  attributable  to lower legal  expenses of $2,678 and
     lower accounting expenses of $1,100.

     Thus,  the  Company  had a loss of $266 for the  three-month  period  ended
     September  30, 2001,  representing  an decrease from the loss of $4,379 for
     the three-month period ended September 30, 2000.

     NINE MONTHS ENDED  SEPTEMBER  30, 2001 AND NINE MONTHS ENDED  SEPTEMBER 30,
     2000


     During the  nine-month  period  ended  September  30, 2001,  the  Company's
     administrative  and  other  expenses  were  $18,099,  which  represented  a
     decrease from the amount paid or accrued of $27,173 in the same period last
     year.  The expense  decrease was  attributable  to lower legal  expenses of
     $6,808.

     Thus,  the Company had a loss of $18,099 for the  nine-month  period  ended
     September  30, 2001,  representing  a decrease from the loss of $27,173 for
     the nine-month period ended September 30, 2000.



                         LIQUIDITY AND CAPITAL RESOURCES

     As of September 30, 2001, the Company's total assets were $57,455, of which
     $455 consisted of cash or cash equivalents.

        The Company's plan of operation for calendar year 2001 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

                                       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  thereof  will be  exercised,  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  2001  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
     2001.


                                       6
<PAGE>

  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         Submission of Matters to a Vote of Security Holders


                        None

   Item 5         Other Information

                        None

   Item 6.        Exhibits and Reports on Form 8-K


    (a)   The following  documents  are filed as part of this report:  Financial
          Statements  of  the  Company  (unaudited),  including  Balance  Sheet,
          Statements  of Income and Loss,  Statements  of Cash Flow and Notes to
          Financial  Statements  as at and for the three  months and nine months
          ended September 30, 2001 and September 30, 2000 and exhibits which are
          listed on the Exhibit Index attached hereto: None

    (b)   The following  reports on Form 8-K were filed by the Registrant during
          the quarter ended September 30, 2001:None



                                        7
<PAGE>

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                                    Apirl  15 , 2002
      -------------------------------------
      Drury J. Gallagher, Chairman,
      Chief Executive Officer and Treasurer






                                       8