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 June 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 sorter
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 June 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 June 30, 2001                               1

           Statements of Operation for the three months ended
           June 30, 2001 and June 30, 2000                                   2a

           Statements of Operation for the six months ended
           June 30, 2001 and June 30, 2000, and for development stage
           period from January 1, 1995 through June 30, 2001                 2b

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

           Notes to Financial Statements                                     4

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

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 Company)
                                  Balance Sheet
                                 June 30, 2001
                                   (Unaudited)

                                     ASSETS


CURRENT ASSETS

Cash                                                               $        305

Investment in First Dynasty Mines, Ltd                                  105,000
                                                                    ------------
                                                                   $    105,305
                                                                    ============


                 LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
    Accounts payable and accrued expenses                          $     73,137
    Due to related parties                                               22,218
                                                                    ------------
                                                                         95,355
                                                                    ------------
STOCKHOLDERS' DEFICIT
    Common stock $0.001 par, 100,000,000 shares authorized
       4,368,114 shares issued and outstanding                            4,368
    Paid-in capital - dormant period                                  4,834,955
    Deficit - development stage                                      (4,738,373)
    Other comprehensive loss                                            (91,000)
                                                                    ------------
    TOTAL STOCKHOLDERS  DEFICIT                                           9,950
                                                                    ------------

                                                                   $    105,305
                                                                    ============

                       See notes to financial statements.



                                       1
<PAGE>



                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)
                   Statements of Operation and Comprehensive Loss


<TABLE>
<CAPTION>

                                                                Three Months Ended June 30,
                                                             -------------------------------------
                                                                    2001                    2000
                                                             ------------              -----------

<S>                                                                <C>                      <C>
REVENUE                                                      $        -0-             $        -0-
                                                              -----------              -----------
EXPENSES

     Selling General and Administrative                            7,185                    6,627
     Legal                                                         1,918                    6,119
     Officers' compensation                                           -0-                      -0-
                                                              -----------              -----------
     Total Expemses                                                9,103                   12,746
                                                              -----------              -----------
OPERATING (LOSS)
OTHER INCOME (EXPENSES)

     Write-off investment in Georgia mining interest                  -0-                      -0-
     Gain on sale of interest in Global Gold Armenia                  -0-                      -0-
     Miscellaneous                                                    -0-                      -0-
                                                              ------------             ----------

Net Loss                                                     $   ( 9,103)             $   (12,746)
                                                              ------------             ----------
Net Loss Per Share                                           $     (.00)              $      (.00)
                                                              ------------             ----------

Weighted Average Number of Shares Used In Computation          4,368,114                4,365,257
                                                              ============             ==========

Net Loss                                                     $   ( 9,103)             $   (12,746)

Other Comprehensive Loss, net of Tax
Unrealized loss on available for Sale Securities                 (30,000)                (104,000)
                                                              ------------             ----------
Comprehensive  Loss                                          $  ( 39,103)             $ ( 116,746)
                                                              ============             ==========

</TABLE>


                      See notes to financial statements.

                                       2a

<PAGE>



                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)
                  Statements of Operation and Comprehensive Loss

<TABLE>
<CAPTION>




                                                                   Six Months Ended June 30,               JANUARY 1, 1995
                                                            --------------------------------------             THROUGH
                                                                    2001                     2000           June 30, 2001
                                                            ------------          ----------------        ------------------

<S>                                                               <C>                      <C>                    <C>
REVENUE                                                      $        -0-             $        -0-            $        -0-
                                                              -----------              -----------             -----------
EXPENSES

     Selling General and Administrative                           12,260                   13,061                 764,149
     Legal                                                         5,573                    9,703                 629,266
     Officers' compensation                                           -0-                      -0-                550,834
                                                              -----------              -----------             ----------
     Total Expenses                                              (17,833)                 (22,794)             (1,945,249)

OTHER INCOME (EXPENSES)
     Write-off investment in Georgia mining interest                  -0-                      -0-               (135,723)
     Gain on sale of interest in Global Gold Armenia                  -0-                      -0-                268,874
     Miscellaneous                                                    -0-                      -0-                (18,627)
                                                              ------------             ----------             ------------
Net Loss                                                         (17,833)                 (22,794)             (1,830,725)
                                                              ------------             ----------             ------------
Net Loss Per Share                                           $      (.00)             $     $(.01)
                                                              ------------             ----------

Weighted Average Number of Shares Used In Computation          4,368,114                4,356,733
                                                              ------------             ----------


Net Loss                                                     $   (17,833)             $   (22,794)            $(1,830,725)

Other Comprehensive Loss, net of Tax
Unrealized loss on available for Sale Securities                  15,000                  (60,000)                (91,000)
                                                              ------------             ----------             ------------
Comprehensive Loss                                           $    (2,833)             $   (82,794)            $(1,921,725)
                                                              ============             ==========             ============

</TABLE>

                       See notes to financial statements.


                                       2b
<PAGE>



                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)
                             Statements of Cash Flow
<TABLE>
<CAPTION>




                                                                                                             January 1, 1995
                                                                                                           (Development stage)
                                                                    Six Months Ended June 30,                    through
                                                                 2001                     2000                June 30, 2001
                                                          ------------------       ------------------      ------------------


CASH FLOW FROM DEVELOPMENT STAGE ACTIVITIES:

<S>                                                                 <C>                      <C>                  <C>
Net  Loss                                                           $(17,833)                $(22,794)            $(1,830,725)
Adjustments to reconcile net loss to net
cash provided by operating activities:
    Provision for bad debts included in net loss                          -0-                      -0-                325,000
    Write-off of mining investment in Georgia                             -0-                      -0-                135,723
    Gain on sale of Armenia mining interests                              -0-                      -0-               (268,874)
Changes in assets and liabilities:
    Organization costs                                                    -0-                      -0-                 (9,601)
    Accounts receivable and deposits                                      -0-                      -0-                   (154)
    Accounts payable, accrued expenses and
    Miscellaneous                                                     13,778                   21,676                 356,458
                                                                    --------                 --------               ---------
    NET CASH USED  IN DEVELOPMENT STAGE
    ACTIVITIES                                                        (4,055)                  (1,118)             (1,292,173)
                                                                    ---------                ---------              ----------
CASH FLOW FROM INVESTING ACTIVITIES:
    Proceeds from sale of Armenia mining interest
    (net of Note Receivable)                                              -0-                      -0-              1,891,155
    Investment in certain mining interests- net of
    Financing                                                             -0-                      -0-               (153,494)
    Deferred costs - mining interest                                      -0-                      -0-               (878,858)
                                                                    ---------                ---------               ---------
    NET CASH PROVIDED BY INVESTING ACTIVITIES                             -0-                      -0-                858,803
                                                                    ---------                ---------               --------
CASH FLOW FROM FINANCING ACTIVITIES:
    Net proceeds from private placement offering                          -0-                      -0-                421,573
    Sale of Warrants                                                      -0-                      -0-                    650
    Warrants exercised                                                    -0-                      -0-                    100
                                                                    ---------                ---------              ---------
    NET CASH PROVIDED BY FINANCING ACTIVITIES                             -0-                      -0-                422,323
                                                                    ---------                ---------              ---------
NET DECREASE  IN CASH                                                 (4,055)                  (1,118)                (11,047)

CASH - beginning of peroid                                             4,360                    1,432                  11,352
                                                                    ---------                ---------              ---------
CASH - end of peroid                                                $    305                   $  314                $    305
                                                                    =========                =========              =========

SUPPLEMENTAL CASH FLOW INFORMATION
    Income taxes paid                                               $     -0-                 $  (105)               $  2,683
                                                                    =========                ==========             =========
    Interest paid                                                   $     -0-               $      -0-               $ 15,422
                                                                    =========                ==========             =========

    Non Cash Financing
    Accrued Salary Settlement                                       $     -0-             $        -0-               $162,500
                                                                    ---------              ------------              ---------
    Issuance of Stock Commission                                    $     -0-             $        -0-               $  2,000
                                                                    =========                ==========             =========

</TABLE>

                       See notes to financial statements.

                                        3
<PAGE>


                             GLOBAL GOLD CORPORATION
                          (A Development Stage Company)
                          Notes to Financial Statements
                                 June 30, 2001

NOTE 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
               disclosure normally included in financial  statements prepared in
               accordance  with generally  accepted  accounting  principles have
               been   condensed  or  omitted.   It  is   suggested   that  these
               consolidated 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 six  month  period  ended June 30,  2001  are  not
               necessarily  indicative of the  operating  results to be expected
               for the full year.


Note 2:        INVESTMENTS:

               At June 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  $105,000.  The cost of
               the securities was $196,000.  The unrealized loss as of June 30,
               2001  was  $91,000  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.

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

               RESULTS OF OPERATIONS

               During the three-month  period ended June 30, 2001, the Company's
               administrative and other expenses were $9,103 which represented a
               decrease  from the amount  paid or accrued of $12,746 in the same
               period last year. The expense  decrease was attributable to lower
               legal expenses of $4,201.

               Thus, the Company had a loss of $9,103 for the three month period
               ended June 30,  2001  representing  a decrease  from the loss of
               $12,746 for the three month period ended June 30, 2000.

 SIX MONTHS ENDED JUNE 30, 2001 AND
 SIX MONTHS ENDED JUNE 30, 2000

During the six-month  period ended June 30, 2001,  the Company's  administrative
and ther  expenses were  $17,833,  which  represented a decrease from the amount
paid or accrued of $22,794 in the same  period last year.  The expense  decrease
was attributable to lower legal expenses of $4,130.

Thus,  the Company had a loss of $17,833 for the six month period ended June 30,
2001  representing  a decrease from the lows of $22,794for  the six month period
ended June 30, 2000.



                                       5
<PAGE>

                         LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2001,  the Company's  total assets were  $105,305,  of which $305
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

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 2001 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 six  months  ended June 30,
     2001 and June 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 June 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:_________________________
      Drury J. Gallagher, Chairman,
      Chief Executive Officer and Treasurer



                                       8