U.S.
Securities and Exchange Commission


Washington,
D.C. 20549





FORM
10-K





(Mark
One)




ANNUAL
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934


For the
fiscal year ended March 31, 2008.










TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934


For
the transition period from _____ to





Commission
file number: 0-30520







GLOBAL
      IMMUNE TECHNOLOGIES, INC.(Name of Small
      Business Issuer in its Charter)


Wyoming
            
            98-05327255(State
      of Incorporation)
            
            (IRS
      EmployerIdentification No.)








1111-207 West Hastings St., Vancouver, B.C.
      Canada
            
            V6G 1H7(Address
      of principal executive offices)
            
            (Zip
      Code)








Issuer’s
telephone number,  (604) 351- 9443





Securities
Registered Pursuant of Section 12(b) of the Act: None





Securities
Registered Pursuant of Section 12(g) of the Act:


Common
Stock, Without Par Value





Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act.  Yes £   No
S





Indicate
by check mark of the registrant is not required to file reports pursuant to
Section 13 or 15(d) of the Act.  Yes £ No S





Indicate
by check  mark whether the issuer (1) filed all
reports  required to be filed by Section 13 or 15(d) of
the  Securities  Exchange  Act of
1934  during the  preceding  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 S No £





Indicated
by check mark if disclosure of delinquent  filers in response to Item
405 of Regulation S-K (229.405)is not contained herein, and will not be
contained, to the best of
registrant's   knowledge,   in  definitive   proxy  or  information   statements
incorporated  by reference in Part III of this Form 10-K or
any  amendment of this Form 10-K. £





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer,or a non-accelerated filer.  Large accelerated filer
£
Accelerated filer £  Non-accelerated
filer £  Smaller
reporting company S





Indicate
by check mark whether the registrant is a shell company (as defined by Rule
12b-2 of the Exchange Act). Yes SNo £





As of
June 27, 2008, there were 16,195,645 shares of the issuer's common stock
outstanding.  The aggregate market value of the shares of the issuer's
voting stock held by non-affiliates  was $821,738 based the average of
the bid and asked price as quoted on the OTC Pinksheets on June 24,
2008.  The sum excludes the  shares  held
by  officers,  directors,  and  stockholders  whose  ownership
exceeded 10% of the  outstanding  shares at June 27,
2008,  in that such persons may be deemed affiliates of the Company.
This determination of affiliate status is not necessarily a conclusive
determination for other purposes.










Global Immune Technologies, Inc.


FORM
10-K


March 31,
2008





PagePART
      IITEM
      1.
            Description of Business
            1ITEM
      1A.
            Risk Factors
            7ITEM
      1B.
            Unresolved Staff Comments
            12ITEM
      2.
            Description of Properties
            12ITEM
      3.
            Legal Proceedings
            12ITEM
      4.
            Submission of Matters to Vote of Security
      Holders
            12PART
      II.ITEM
      5.
            Market for Common Equity, Related Stockholder
      Matters and Issuer Purchases of Equity Securities
            12ITEM
      6.
            Selected Financial Data
            13ITEM
      7.
            Management's Discussion and Analysis or Plan of
      Operation
            13ITEM
      7A.
            Quantitative and Qualitative Disclosures About Market
      Risk
            14Item
      8.
            Financial Statements and Supplementary
      Data
            14ITEM
      9.
            Changes In and Disagreements With Accounting and
      Financial Disclosure
            14ITEM
      9A.
            Controls and Procedures
            15ITEM
      9B.
            Other Information
            15PART
      IIIITEM
      10.
            Directors, Executive Officers and Corporate
      Governance
            14ITEM
      11.
            Executive Compensation
            17ITEM
      12.
            Security Ownership of Certain Beneficial Owners and
      Management and Related Stockholder Matters
            18ITEM
      13.
            Certain Relationships, Related Transactions and Corporate
      Governance
            19ITEM
      14.
            Principal Accounting Fees and
    Services
            20PART
      IVITEM
      15.
            Exhibits and Financial Statement Schedules
            21SIGNATURES
            21


Table of Contents





PART
I





Item
1. Descriptionof Business.





FORWARD-LOOKING
STATEMENT NOTICE:





This
annual report on Form 10-KSB contains many forward-looking statements, which
involve risks and uncertainties, such as our plans, objective, expectations and
intentions. You can identify these statements by our use of words such as "may,"
"expect," "believe," "anticipate," "intend," "could," "estimate," "continue,"
"plans," or other similar words or phrases. Some of these statements include
discussions regarding our future business strategy and our ability to generate
revenue, income, and cash flow. We wish to caution the reader that all
forward-looking statements contained in this Form 10-KSB are only estimates and
predictions. Our actual results could differ materially from those anticipated
as a result of risk facing us or actual events differing from the assumptions
underlying such forward-looking statements. Readers are cautioned not to place
undue reliance on any forward-looking statements contained in this Annual Report
on Form 10-KSB. Readers are cautioned not to place undue reliance on these
forward-looking statements. We undertake no obligation to update any of these
factors or to publicly announce any change to our forward-looking statements
made herein, whether as a result of new information, future events, changes in
expectations or otherwise.





(a) Our Corporate
History.





The
Company was incorporated on September 18, 1985, under the laws of the Province
of British Columbia under the name of Canadian Comstock Exploration Ltd. with an
authorized share capital of 20,000,000 shares without par value.





The
Company changed its name on June 7, 1995 to American Comstock Exploration Ltd.
in connection with a consolidation of its share capital on a one for four
basis.





The
Company changed its name again on February 4, 1998 to "International Comstock
Exploration Ltd." in connection with a consolidation of its share capital on a
one for five basis.





The
Company changed its name again on October 2, 2001 to "Secureview Systems Inc."
in connection with a consolidation of its share capital on a one for five basis.
In addition, the Company increased its authorized share capital to 100,000,000
shares without par value on October 2, 2001.





The
Company changed its name again on May 2, 2005 to "Global Immune Technologies
Inc." In addition, the Company increased its authorized share capital to an
unlimited number of common shares without par value on March 23,
2005.





On
February 28, 2006, the Company changed its corporate domicile from British
Columbia, Canada to the State of Wyoming.





(b) Business History of the
Issuer.





From its
incorporation in 1985 until 1999, the Company has been engaged in the business
of exploration of natural resource properties. During 2004 the Company disposed
of its final interests in its natural resource properties. In early 1999 the
Company initiated a search for other business opportunities culminating in May
1999 with the acquisition of the domain name ProSportsPool.com. In January 2000,
the Company entered into an agreement with Internet Sports Network Inc. to
develop and maintain a number of internet based games and contests. Internet
Sports Network eventually developed "Fantasy Free for All" software and back end
support for Nascar, Formula One, Cart series and Baseball and Hockey contests
for ProSportsPool.com. The Company launched the ProSportsool.com website on
March 1, 2000 with Formula 1 and NASCAR contests "Fantasy Free for All". The
launch of the website was accompanied by a marketing campaign that included
print, billboard, and internet-banner advertising. In March 21, 2000, the
Company engaged Iceberg Media.com Inc. to provide three music channels -
1Groove.com, 2Kool4Radio.com and PrimeTicket.net - for the ProSportsPool.com
website. The ProSportsPool.com website added a fantasy baseball contest, and an
affiliation with Altavista.com on March 27, 2000. At the beginning of April
2000, the Company launched its internet based hockey contest and announced its
inaugural contest winners in its auto-racing contests. The Company also
announced it has become an authorized member of the Cnet.com affiliate network
and formed similar affiliations with Chipshot.com, Wrenchead.com, Quokka.com and
America Online.


1
 Table of Contents




To
increase awareness of the ProSportspool.com website, the Company participated at
the G.I. Joe 200 CART race in Portland, Oregon as well as the Toronto and
Vancouver Indy races by appearing at a booth at the races signing up contestants
and offering prizes to entrants. On January 15, 2001, due to the closing of
Internet Sports Network Inc., which provided the technical architecture and
sports data for the ProSportsPool.com's sports contests, the Company was forced
to discontinue its sports-contest site.





During
June 2001 and amended October, 2001 the Company entered into a letter of intent
with Argent Resources Ltd., On-Track Computer Training Ltd., On-Track Computer
International Ltd. and Lute Linux.com Corp. whereby Argent assigned its right to
enter into a share exchange agreement with Lute who held the option to enter
into a share exchange agreement with On-Track and On-Track International. In
exchange for the assignment by Argent to the Company of the share exchange
agreement entered into between Lute and Argent, the Company issued 2,000,000
shares and paid $50,000 to Argent.





During
October 2001 the Company signed an agreement with Lute Linux.com Corp. including
the exchange of Lute share purchase warrants for Company shares at a deemed
value of $0.10 US per share, as to Russ Rossi (100,000 shares), RRGS Creative
Management Corp. (2,400,000 shares) and Quest Ventures Ltd. (175,000 shares).
The Company did not proceed with similar share purchase agreements with On-Track
Computer Training Ltd. and On-Track Computer International Ltd. Lute focused its
business development on its "Fedcam," an inexpensive remote monitoring system
that allows subscribers to view their target locations via secure website. The
Fedcam was being tested by the Canadian government's construction branch on its
Osoyoos, British Columbia border crossing site into the United States. However,
as of March 31, 2003, the Company ceased funding the Fedcam and the asset was
written down to a nominal amount.





In June
2002 the Company entered into a letter of intent with Estwind Energy, a private
power generation company incorporated in Estonia, whereby the Company intended
to acquire all of the issued and outstanding shares of Estwind Energy. However,
the Company decided against completing the share exchange agreement as the
business of Estwind Energy was deemed to not be profitable.





In May
2003 the Company entered into a letter of intent with P-CE Computers, Inc., a
private Nevada corporation engaged in the business of developing ergonomic
multimedia-computer workstations. The Company decided against completing the
share exchange agreement as due diligence indicated that the business of P-CE
Computers, Inc. would not be profitable.





In
September 2003 the Company entered into a letter of intent with TNR Resources
Ltd. ("TNR"), a public British Columbia, Canada, corporation, to purchase a 50%
working interest in TNR's Las Carachas property in Argentina. The Company did
not pursue the option.





In
February 2005 the Company entered an agreement to acquire the rights and
interests in a drug, Trioxolane. The Company did not pursue or complete this
acquisition.





Subsequently
to March 31, 2005, the Company has agreed to purchase WSG Systems Inc., (“WSG”)
its' business and assets from Global Lottery Corporation for the issuance of
100,000,000 shares of common stock. The assets of WSG include proprietary
technology, software, its trade names and trademarks as those products pertain
to the worldwide lottery industry and/or worldwide pari-mutual betting. The
products are designed to be used by all entities in the industry for conducting
lotteries and or pari-mutual betting, including corporations and/or governmental
agencies representing countries, provinces, states, etc. to implement and/or to
improve their lottery and/or pari-mutual betting systems.





On July
19, 2006, the Company entered into a securities exchange agreement with MediPri
Limited, Primemedical International, Ltd.(“MedPri”) and Medical Monitors Limited
(“MML).  The transaction was revised on May 17, 2007.  The
transaction was rescinded on July 11, 2007.





(c) Current Business of the
Issuer





The
Company may be referred to as a shell corporation.  Shell corporations
are defined as companies with no or nominal assets and
operations.  Private companies wishing to become publicly trading may
wish to merge with a shell (a reverse merger) whereby the shareholders of the
private Company become the majority of the shareholders of the combined
Company.  The private Company may purchase for cash all or a portion
of the common shares of the shell corporation from its major
stockholders.  Typically, the Board and officers of the private
Company become the new Board and officers of the combined Company and often the
name of the private Company becomes the name of the combined
Company.


2
 Table of Contents




The
Company has very limited capital, and it is unlikely that the Company will be
able to take advantage of more than one such business
opportunity.  The Company intends to seek opportunities demonstrating
the potential of long-term growth as opposed to short-term earnings. However, at
the present time, the Company has not identified any business opportunity that
it plans to pursue, nor has the Company reached any agreement or definitive
understanding with any person concerning an acquisition.





No
assurance can be given that the Company will be successful in finding or
acquiring a desirable business opportunity, given the limited funds that are
expected to be available for acquisitions.  Furthermore, no assurance
can be given that any acquisition, which does occur, will be on terms that are
favorable to the Company or its current stockholders.





The
Company’s search will be directed toward small and medium-sized enterprises,
which have a desire to become public corporations.  In addition these
enterprises may wish to satisfy, either currently or in the reasonably near
future, the minimum tangible asset requirement in order to qualify shares for
trading on NASDAQ or on an exchange such as the American Stock Exchange. (See
Investigation and Selection of Business Opportunities).  The Company
anticipates that the business opportunities presented to it will (i) either be
in the process of formation, or be recently organized with limited operating
history or a history of losses attributable to under-capitalization or other
factors; (ii) experiencing financial or operating difficulties; (iii) be in need
of funds to develop new products or services or to expand into a new market, or
have plans for rapid expansion through acquisition of competing businesses; (iv)
or other similar characteristics.  The Company intends to concentrate
its acquisition efforts on properties or businesses that it believes to be
undervalued or that it believes may realize a substantial benefit from being
publicly owned.  Given the above factors, investors should expect that
any acquisition candidate may have little or no operating history, or a history
of losses or low profitability.





The
Company does not propose to restrict its search for investment opportunities to
any particular geographical area or industry, and may, therefore, engage in
essentially any business, to the extent of its limited
resources.  This includes industries such as service, finance, natural
resources, manufacturing, high technology, product development, medical,
communications and others.  The Company’s discretion in the selection
of business opportunities is unrestricted, subject to the availability of such
opportunities, economic conditions, and other factors.





In
connection with such a merger or acquisition, it is highly likely that an amount
of stock constituting control of the Company would either be issued by the
Company or be purchased from the current principal stockholders of the Company
by the acquiring entity or its affiliates.  If stock is purchased from
the current principal stockholders, the transaction is likely to result in
substantial gains to the current principal stockholders relative to their
purchase price for such stock.  In the Company’s judgment, none of the
officers and directors would thereby become an underwriter within the meaning of
the Section 2(11) of the Securities Act of 1933, as amended as long as the
transaction is a private transaction rather than a public distribution of
securities.  The sale of a controlling interest by certain principal
shareholders of the Company would occur at a time when minority stockholders are
unable to sell their shares because of the lack of a public market for such
shares.





Depending
upon the nature of the transaction, the current officers and directors of the
Company may resign their management and board positions with the Company in
connection with a change of control or acquisition of a business opportunity
(See Form of Acquisition, below, and Risk Factors, The Company,  Lack
of Continuity of Management).  In the event of such a resignation, the
Company’s current management would thereafter have no control over the conduct
of the Company’s business.





It is
anticipated that business opportunities will come to the Company’s attention
from various sources, including its officers and directors, its other
stockholders, professional advisors such as attorneys and accountants,
securities broker-dealers, venture capitalists, members of the financial
community, and others who may present unsolicited proposals. The Company has no
plan, understandings, agreements, or commitments with any individual for such
person to act as a finder of opportunities for the Company.





The
Company does not foresee that it will enter into a merger or acquisition
transaction with any business with which its officers or directors are currently
affiliated.  Should the Company determine in the future, contrary to
the forgoing expectations, that a transaction with an affiliate would be in the
best interests of the Company and its stockholders, the Company is, in general,
permitted by Wyoming law to enter into a transaction if: The material facts as
to the relationship or interest of the affiliate and as to the contract or
transaction are disclosed or are known to the Board of Directors, and the Board
in good faith authorizes, approves or ratifies the contract or transaction by
the affirmative vote of a majority of the disinterested directors, even though
the disinterested directors constitute less than a quorum; or the material facts
as to the relationship or interest of the affiliate and as to the contract or
transaction are disclosed or are known to the stockholders entitled to vote
thereon, and the contract or transaction is specifically authorized, approved or
ratified in good faith by vote of the stockholders; or the contract or
transaction is fair as to the Company as of the time it is authorized, approved
or ratified, by the Board of Directors or the stockholders.


3
 Table of Contents




(1)
            Investigation
      and Selection of Business
Opportunities





To a
large extent, a decision to participate in a specific business opportunity may
be made upon management’s analysis of the quality of the other Company’s
management and personnel, the anticipated acceptability of new products or
marketing concepts, the merit of technological changes, the perceived benefit
the business opportunity will derive from becoming a publicly held entity, and
numerous other factors which are difficult, if not impossible, to analyze
through the application of any objective criteria.  In many instances,
it is anticipated that the historical operations of a specific business
opportunity may not necessarily be indicative of the potential for the future
because of a variety of factors, including, but not limited to, the possible
need to expand substantially, shift marketing approaches, change product
emphasis, change or substantially augment management, raise capital and the
like.





It is
anticipated that the Company will not be able to diversify, but will essentially
be limited to the acquisition of one business opportunity because of the
Company’s limited financing.  This lack of diversification will not
permit the Company to offset potential losses from one business opportunity
against profits from another, and should be considered an adverse factor
affecting any decision to purchase the Company’s securities.





Certain
types of business acquisition transactions may be completed without any
requirement that the Company first submit the transaction to the stockholders
for their approval.  In the event the proposed transaction is
structured in such a fashion that stockholder approval is not required, holders
of the Company’s securities (other than principal stockholders holding a
controlling interest) should not anticipate that they will be provided with
financial statements or any other documentation prior to the completion of the
transaction.  Other types of transactions require prior approval of
the stockholders.





In the
event a proposed business combination or business acquisition transaction is
structured in such a fashion that prior stockholder approval is necessary, the
Company will be required to prepare a Proxy or Information Statement describing
the proposed transaction, file it with the Securities and Exchange Commission
for review and approval, and mail a copy of it to all Company stockholders prior
to holding a stockholders meeting for purposes of voting on the
proposal.  Minority shareholders that do not vote in favor of a
proposed transaction will then have the right, in the event the transaction is
approved by the required number of stockholders, to exercise statutory
dissenter’s rights and elect to be paid the fair value of their
shares.





The
analysis of business opportunities will be undertaken by or under the
supervision of the Company’s officers and directors, none of whom are
professional business analysts (See Management).  Although there are
no current plans to do so, Company management might hire an outside consultant
to assist in the investigation and selection of business opportunities, and
might pay a finder’s fee.  Since Company management has no current
plans to use any outside consultants or advisors to assist in the investigation
and selection of business opportunities, no policies have been adopted regarding
use of such consultants or advisors, the criteria to be used in selecting such
consultants or advisors, the services to be provided, the term of service, or
the total amount of fees that may be paid.  However, because of the
limited resources of the Company, it is likely that any such fee the Company
agrees to pay would be paid in stock and not in cash.





Otherwise,
in analyzing potential business opportunities, Company management anticipates
that it will consider, among other things, the following factors:





·
            Potential
      for growth and profitability indicated by new technology, anticipated
      market expansion, or new
products;


4
 Table of Contents





·
            The
      Company’s perception of how any particular business opportunity will be
      received by the investment community and by the Company’s
      stockholders;





·
            Whether,
      following the business combination, the financial condition of the
      business opportunity would be, or would have a significant prospect in the
      foreseeable future of becoming, sufficient to enable the securities of the
      Company to qualify for listing on an exchange or on a national automated
      securities quotation system, such as NASDAQ, so as to permit the trading
      of such securities to be exempt from the requirements of Rule 15g-9
      adopted by the Securities and Exchange Commission (See Risk
      Factors  The Company  Regulations of Penny
      Stocks).





·
            Capital
      requirements and anticipated availability of required funds, to be
      provided by the Company or from operations, through the sale of additional
      securities, through joint ventures or similar arrangements, or from other
      sources;





·
            The
      extent to which the business opportunity can be
  advanced;





·
            Competitive
      position as compared to other companies of similar size and experience
      within the industry segment as well as within the industry as a
      whole;





·
            Strength
      and diversity of existing management or management prospects that are
      scheduled for recruitment;





·
            The
      cost of participation by the Company as compared to the perceived tangible
      and intangible values and potential;
and





·
            The
      accessibility of required management expertise, personnel, raw materials,
      services, professional assistance, and other required
    items.





No one of
the factors described above will be controlling in the selection of a business
opportunity, and management will attempt to analyze all factors appropriate to
each opportunity and make a determination based upon reasonable investigative
measures and available data.  Potentially available business
opportunities may occur in many different industries and at various stages of
development, all of which will make the task of comparative investigation and
analysis of such business opportunities extremely difficult and
complex.  Potential investors must recognize that, because of the
Company’s limited capital available for investigation and management’s limited
experience in business analysis, the Company may not discover or adequately
evaluate adverse facts about the opportunity to be acquired.





The
Company is unable to predict when it may participate in a business
opportunity.  It expects, however, that the analysis of specific
proposals and the selection of a business opportunity may take several months or
more.





Prior to
making a decision to participate in a business opportunity, the Company will
generally request that it be provided with written materials regarding the
business opportunity containing as much relevant information as possible,
including, but not limited to, such items as a description of products, services
and Company history; management resumes; financial information; available
projections, with related assumptions upon which they are based; an explanation
of proprietary products and services; evidence of existing patents, trademarks,
or service marks, or rights thereto; present and proposed forms of compensation
to management; a description of transactions between such Company and its
affiliates during the relevant periods; a description of present and required
facilities;, an analysis of risks and competitive conditions; a financial plan
of operation and estimated capital requirements; audited financial statements,
or if they are not available, unaudited financial statements, together with
reasonable assurance that audited financial statements would be able to be
produced within a reasonable period of time not to exceed 60 days following
completion of a merger or acquisition transaction; and the like.





As part
of the Company’s investigation, the Company’s executive officers and directors
may meet personally with management and key personnel, may visit and inspect
material facilities, obtain independent analysis or verification of certain
information provided, check references of management and key personnel, and take
other reasonable investigative measures, to the extent of the Company’s limited
financial resources and management expertise.


5
 Table of Contents




It is
possible that the range of business opportunities that might be available for
consideration by the Company could be limited by the impact of Securities and
Exchange Commission regulations regarding purchase and sale of penny
stocks.  The regulations would affect, and possibly impair, any market
that might develop in the Company’s securities until such time as they qualify
for listing on NASDAQ or on an exchange which would make them exempt from
applicability of the penny stock regulations.  (See Risk Factors
Regulation of Penny Stocks)





Company
management believes that various types of potential merger or acquisition
candidates might find a business combination with the Company to be
attractive.  These include acquisition candidates desiring to create a
public market for their shares in order to enhance liquidity for current
stockholders, acquisition candidates which have long-term plans for raising
capital through public sale of securities and believe that the possible prior
existence of a public market for their securities would be beneficial, and
acquisition candidates which plan to acquire additional assets through issuance
of securities rather than for cash, and believe that the possibility of
development of a public market for their securities will be of assistance in
that process.  Acquisition candidates, which have a need for an
immediate cash infusion, are not likely to find a potential business combination
with the Company to be an attractive alternative.





(2)
            Form
      of Acquisition





It is
impossible to predict the manner in which the Company may participate in a
business opportunity.  Specific business opportunities will be
reviewed as well as the respective needs and desires of the Company and the
promoters of the opportunity and, upon the basis of the review and the relative
negotiating strength of the Company and such promoters, the legal structure or
method deemed by management to be suitable will be selected.  Such
structure may include, but is not limited to leases, purchase and sale
agreements, licenses, joint ventures and other contractual
arrangements.  The Company may act directly or indirectly through an
interest in a partnership, corporation or other form of
organization.  Implementing such structure may require the merger,
consolidation or reorganization of the Company with other corporations or forms
of business organization.  In addition, the present management and
stockholders of the Company most likely will not have control of a majority of
the voting stock of the Company following a merger or reorganization
transaction.  As part of such a transaction, the Company’s existing
directors may resign and new directors may be appointed without any vote by
stockholders.





It is
likely that the Company will acquire its participation in a business opportunity
through the issuance of Common Stock or other securities of the
Company.  Although the terms of any such transaction cannot be
predicted, it should be noted that in certain circumstances the criteria for
determining whether or not an acquisition is a so-called B tax free
reorganization under the Internal Revenue Code of 1986 as amended, depends upon
the issuance to the stockholders of the acquired Company of a controlling
interest (i.e., 80% or more) of the common stock of the combined entities
immediately following the reorganization.  If a transaction were
structured to take advantage of these provisions rather than other a tax free
provisions provided under the Internal Revenue Code, the Company’s current
stockholders would retain in the aggregate 20% or less of the total issued and
outstanding shares.  This could result in substantial additional
dilution in the equity of those who were stockholders of the Company prior to
such reorganization.  Any such issuance of additional shares might
also be done simultaneously with a sale or transfer of shares representing a
controlling interest in the Company by the current officers, directors and
principal stockholders.





It is
anticipated that any new securities issued in any reorganization would be issued
in reliance upon one or more exemptions from registration under applicable
federal and state securities laws to the extent that such exemptions are
available.  In some circumstances, however, as a negotiated element of
the transaction, the Company may agree to register such securities either at the
time the transaction is consummated or under certain conditions at specified
times thereafter.  The issuance of substantial additional securities
and their potential sale into any trading market that might develop in the
Company’s securities may have a depressive effect upon such market.





The
Company will participate in a business opportunity only after the negotiation
and execution of a written agreement.  Although the terms of such
agreement cannot be predicted, generally such an agreement would require
specific representations and warranties by all of the parties thereto, specify
certain events of default, detail the terms of closing and the conditions which
must be satisfied by each of the parties thereto prior to such closing, outline
the manner of bearing costs if the transaction is not closed, set forth remedies
upon default, and include miscellaneous other terms.


6
 Table of Contents





As a
general matter, the Company anticipates that it, and/or its principal
stockholders will enter into a letter of intent with the management, principals
or owners of a prospective business opportunity prior to signing a binding
agreement.  Such a letter of intent will set forth the terms of the
proposed acquisition but will not bind any of the parties to consummate the
transaction.  Execution of a letter of intent will by no means
indicate that consummation of an acquisition is probable.  Neither the
Company nor any of the other parties to the letter of intent will be bound to
consummate the acquisition unless and until a definitive agreement is
executed.  Even after a definitive agreement is executed, it is
possible that the acquisition would not be consummated should any party elect to
exercise any right provided in the agreement to terminate it on specific
grounds.





It is
anticipated that the investigation of specific business opportunities and the
negotiation, drafting and execution of relevant agreements, disclosure documents
and other instruments will require substantial management time and attention and
substantial costs for accountants, attorneys and others.  If a
decision is made not to participate in a specific business opportunity, the
costs incurred in the related investigation would not be
recoverable.  Moreover, because many providers of goods and services
require compensation at the time or soon after the goods and services are
provided, the inability of the Company to pay until an indeterminate future time
may make it impossible to produce goods and services.





(3)
            Investment
      Company Act and Other Regulation





The
Company may participate in a business opportunity by purchasing, trading or
selling the securities of such business.  The Company does not,
however, intend to engage primarily in such activities.  Specifically,
the Company intends to conduct its activities so as to avoid being classified as
an investment Company under the Investment Company Act of 1940 (the Investment
Act), and therefore to avoid application of the costly and restrictive
registration and other provisions of the Investment Act, and the regulations
promulgated thereunder.





The
Company’s plan of business may involve changes in its capital structure,
management, control and business, especially if it consummates the
reorganization as discussed above.  Each of these areas is regulated
by the Investment Act, in order to protect purchasers of investment Company
securities. Since the Company will not register as an investment Company,
stockholders will not be afforded these protections.





Employees





As of
March 31, 2008 the Company had no full-time employees.  Donald Perks
is the Company’s sole officer and director.  Mr. Perks works on a
part-time basis.





Item
1A.  RISKFACTORS





THERE ARE
SIGNIFICANT RISKS ASSOCIATED WITH AN INVESTMENT IN OUR COMMON STOCK. BEFORE
MAKING A DECISION CONCERNING THE PURCHASE OF OUR SECURITIES, YOU SHOULD
CAREFULLY CONSIDER THE FOLLOWING FACTORS AND OTHER INFORMATION IN THIS ANNUAL
REPORT WHEN YOU EVALUATE OUR BUSINESS.





BUSINESS
RISKS





LACK OF
BUSINESS HISTORY AND PROFITABILITY OF OPERATIONS


The
Company is not currently operating profitably and it should be anticipated that
it will operate at a loss at least until such time as a business prospect is
identified and profitability is achieved, if profitability is, in fact, ever
achieved. The Company has never earned a significant profit.




DEPENDENCE
ON KEY MANAGEMENT


The
success of the operations and activities of the Company is dependent to a
significant extent on the efforts and abilities of its management. The loss of
services of any of its Management could have a material adverse effect on the
Company. The Company does not maintain key man insurance on any of its
management. The Company does not have any employment or labor agreements with
any personnel as at the date of the filing of this Annual Report.





CONFLICTS
OF INTEREST.  Certain conflicts of interest exist between the Company
and its officers and directors.  They have other business interests to
which they currently devote attention, and are expected to continue to do
so.  As a result, conflicts of interest may arise that can be resolved
only through their exercise of judgment in a manner which is consistent with
their fiduciary duties to the Company.


7
 Table of Contents




It is
anticipated that the Company’s principal shareholders may actively negotiate or
otherwise consent to the purchase of a portion of their common stock as a
condition to, or in connection with, a proposed merger or acquisition
transaction.  In this process, the Company’s principal shareholders
may consider their own personal pecuniary benefit rather than the best interest
of other Company shareholders.  Depending upon the nature of a
proposed transaction, Company shareholders other than the principal shareholders
may not be afforded the opportunity to approve or consent to a particular
transaction.





INVESTMENT
RISKS





OUR
ISSUANCE OF ADDITIONAL SHARES MAY HAVE THE EFFECT OF DILUTING THE INTEREST OF
SHAREHOLDERS; OUR COMMON STOCK SHAREHOLDERS DO NOT HAVE PREEMPTIVE
RIGHTS.





Any
additional issuances of common stock by us from our authorized but unissued
shares may have the effect of diluting the percentage interest of existing
shareholders. The securities issued to raise funds may have rights, preferences
or privileges that are senior to those of the holders of our other securities,
including our common stock. The board of directors has the power to issue such
shares without shareholder approval. We fully intend to issue additional common
shares in order to raise capital to fund our business operations and growth
objectives.





WE DO NOT
ANTICIPATE PAYING DIVIDENDS TO COMMON STOCKHOLDERS IN THE FORESEEABLE FUTURE,
WHICH MAKES INVESTMENT IN OUR STOCK SPECULATIVE OR RISKY.





We have
not paid dividends on our common stock and do not anticipate paying dividends on
our common stock in the foreseeable future. The board of directors has sole
authority to declare dividends payable to our stockholders. The fact that we
have not and do not plan to pay dividends indicates that we must use all of our
funds generated by operations for reinvestment in our business activities.
Investors also must evaluate an investment in the Company solely on the basis of
anticipated capital gains.





LIMITED
LIABILITY OF OUR EXECUTIVE OFFICERS AND DIRECTORS MAY DISCOURAGE SHAREHOLDERS
FROM BRINGING A LAWSUIT AGAINST THEM.





Our
Articles of Incorporation contain provisions that limit the liability of our
directors for monetary damages and provide for indemnification of officers and
directors. These provisions may discourage shareholders from bringing a lawsuit
against officers and directors for breaches of fiduciary duty and may reduce the
likelihood of derivative litigation against officers and directors even though
such action, if successful, might otherwise have benefited the shareholders. In
addition, a shareholder's investment in the Company may be adversely affected to
the extent that we pay costs of settlement and damage awards against officers or
directors pursuant to the indemnification provisions of the bylaw. The impact on
a shareholder's investment in terms of the cost of defending a lawsuit may deter
the shareholder from bringing suit against any of our officers or directors. We
have been advised that the SEC takes the position that these article and bylaw
provisions do not affect the liability of any director under applicable federal
and state securities laws.





LIMITED
MARKET DUE TO PENNY STOCK





The
Company's stock differs from many stocks, in that it is a "penny stock." The
Securities  and  Exchange  Commission  has
adopted a number of rules to regulate
"penny  stocks."  These
rules  include,  but are not limited
to,  Rules  3a5l-l,
15g-1,  15g-2,  15g-3,  15g-4,  15g-5,  15g-6
and 15g-7 under the Securities and Exchange Act of 1934, as
amended.  Because
our  securities  probably  constitute "penny
stock"  within the meaning of the rules,  the rules would
apply to us and our securities.  The rules may further affect the
ability of owners of our stock to sell their securities in any market that may
develop for them. There may be a
limited   market  for  penny   stocks,   due  to  the   regulatory   burdens  on
broker-dealers.  The market among dealers may not be
active.  Investors in penny stock  often
are  unable to sell  stock  back to
the  dealer  that sold them the stock. The mark-ups or
commissions  charged by the broker-dealers may be greater than any
profit a seller may make.  Because of large
dealer  spreads,  investors may be unable to sell the stock
immediately back to the dealer at the same price the dealer sold the stock to
the  investor.  In some  cases,  the
stock may fall quickly in value.  Investors  may be unable
to reap any profit  from any sale of
the  stock,  if they  can sell it at
all.  Stockholders  should  be
aware  that, according to the Securities and
Exchange  Commission  Release No. 34- 29093, the market for
penny stocks has suffered in recent years from  patterns of fraud and
abuse.  These patterns include:  - Control of the market for
the security by one or a few broker-  dealers that are
often  related to the  promoter or issuer;  -
Manipulation of prices through  prearranged  matching of
purchases and sales and false and misleading  press releases; -
"Boiler room" practices  involving high pressure sales tactics and
unrealistic price projections by inexperienced  sales
persons;  -  Excessive  and  undisclosed  bid-ask  differentials  and
markups by selling broker- dealers;  and - The
wholesale  dumping of the same securities by promoters and
broker-  dealers after prices have
been  manipulated  to a desired level,  along with
the  inevitable  collapse  of
those  prices  with  consequent investor losses.
Furthermore, the "penny stock" designation may adversely affect
the  development  of any public market for the
Company's  shares of common stock or, if such a market develops, its
continuation.  Broker-dealers are required to
personally  determine  whether
an  investment  in "penny  stock" is suitable for
customers.  Penny  stocks  are  securities  (i)
with a price of less  than  five dollars per share; (ii)
that are not traded on a "recognized" national exchange;
(iii)  whose  prices  are not quoted on the
NASDAQ  automated  quotation  system
(NASDAQ-listed  stocks must still
meet  requirement  (i)  above);  or (iv)
of an issuer with net tangible  assets less than $2,000,000 (if the
issuer has been in continuous  operation for at least three years) or
$5,000,000  (if in continuous operation for less than three
years),  or with average  annual  revenues of less
than $6,000,000 for the last three years. Section 15(g) of the Exchange Act, and
Rule 15g-2 of the Commission
require  broker-dealers  dealing in penny stocks to provide
potential investors with a document disclosing the risks of penny stocks and to
obtain a manually signed and dated written receipt of the document before
effecting any transaction in a penny stock for the investor's account. Potential
investors  in
the  Company's  common  stock are  urged
to  obtain  and read such disclosure  carefully
before  purchasing any shares that are deemed to be "penny stock."
Rule 15g-9 of the Commission requires broker- dealers in penny stocks to approve
the  account of
any  investor  for  transactions  in
such stocks  before
selling  any  penny  stock  to  that  investor.   This  procedure  requires  the
broker-dealer to (i) obtain from the investor information  concerning
his or her
financial  situation,  investment  experience  and
investment  objectives;  (ii)
reasonably  determine,  based on
that  information,  that  transactions in penny
stocks are  suitable  for
the  investor  and that
the  investor  has  sufficient knowledge and
experience as to be reasonably  capable of evaluating the risks of
penny stock  transactions;  (iii) provide the investor with
a written  statement setting forth the basis on which
the  broker-dealer  made
the  determination  in (ii) above;  and (iv)
receive a signed and dated copy of such statement from the
investor,  confirming  that
it  accurately  reflects  the  investor's  financial
situation,  investment  experience and
investment  objectives.  Compliance  with these
requirements may make it more difficult for the
Company's  stockholders to resell their shares to third parties or to
otherwise dispose of them.


8
 Table of Contents




Shareholders
should be aware that, according to Securities and Exchange Commission Release
No. 34-29093, the market for penny stocks has suffered in recent years form
patterns of fraud and abuse.  Such patterns include (i) control of the
market for the security by one or a few broker-dealers that are often related to
the promoter or issuer;  (ii) manipulation of prices through
prearranged matching of purchases and sales and false and misleading press
releases; (iii) boiler room practices involving high-pressure sales tactics and
unrealistic price projections by inexperienced sales persons;  (iv)
excessive and undisclosed bid-ask differential and markups by selling
broker-dealers; and (v) the wholesale dumping of the same securities by
promoters and broker dealers after prices have been manipulated to a desired
level, along with the resulting inevitable collapse of those prices and with
consequent investor losses.  The Company’s management is aware of the
abuses that have occurred historically in the penny stock
market.  Although the Company does not expect to be in a position to
dictate the behavior of the market or of broker dealers who participate in the
market, management will strive within the confines of practical limitations to
prevent the described patterns form being established with respect to the
Company’s securities.





NEED FOR
ADDITIONAL FINANCING.  The Company has very limited funds, and such
funds, may not be adequate to take advantage of any available business
opportunities.  Even if the Company’s currently available funds prove
to be sufficient to pay for its operations until it is able to acquire an
interest in, or complete a transaction with, a business opportunity, such funds
will clearly not be sufficient to enable it to exploit the
opportunity.  Thus, the ultimate success of the Company will depend,
in part, upon its availability to raise additional capital.  In the
event that the Company requires modest amounts of additional capital to fund its
operations until it is able to complete a business acquisition or transaction,
such funds, are expected to be provided by the principal
shareholders.  However, the Company has not investigated the
availability, source, or terms that might govern the acquisition of the
additional capital which is expected to be required in order to exploit a
business opportunity, and will not do so until it has determined the level of
need for such additional financing.  There is no assurance that
additional capital will be available from any source or, if available, that it
can be obtained on terms acceptable to the Company.  If not available,
the Company’s operations will be limited to those that can be financed with its
modest capital.


9
 Table of Contents




NO
OPERATING HISTORY.   The Company
has no operating history, revenues from operations or assets. The Company faces
all of the risks of a new business and the special risks inherent in the
investigation, acquisition, or involvement in a new business
opportunity.  The Company must be regarded as a new or start-up
venture with all of the unforeseen costs, expenses, problems, and difficulties
to which such ventures are subject.





NO
ASSURANCE OF SUCCESS OR PROFITABILITY.  There is no assurance that the
Company will acquire a favorable business opportunity.  Even if the
Company should become involved in a business opportunity, there is no assurance
that it will generate revenues or profits, or that the market price of the
Company’s outstanding shares will be increased thereby.





POSSIBLE
BUSINESS NOT IDENTIFIED AND HIGHLY RISKY.  The Company has not
identified and has no commitments to enter into or acquire a specific business
opportunity.  As a result, it is only able to make general disclosures
concerning the risks and hazards of acquiring a business opportunity, rather
than providing disclosure with respect to specific risks and hazards relating to
a particular business opportunity.  As a general matter, prospective
investors can expect any potential business opportunity to be quite
risky.





TYPE OF
BUSINESS ACQUIRED.  The type of business to be acquired may be one
that desires to avoid effecting its own public offering an the accompanying
expense, delays, uncertainties, and federal and state requirements which purport
to protect investors.  Because of the Company’s limited capital, it is
more likely than not that any acquisition by the Company will involve other
parties whose primary interest is the acquisition of control of a publicly
traded Company.  Moreover, any business opportunity acquired may be
currently unprofitable or present other negative factors.





IMPRACTICABILITY
OF EXHAUSTIVE INVESTIGATION.  The Company’s limited funds and lack of
full-time management will make it impracticable to conduct a complete and
exhaustive investigation and analysis of a business opportunity before the
Company commits its capital or other resources thereto.  Management
decisions, therefore, will likely be made without detailed feasibility studies,
independent analysis, market surveys and the like which, if the Company had more
funds available to it, would be desirable.  The Company will be
particularly dependent in making decisions upon information provided by the
promoter, owner, sponsor, or others associated with the business opportunity
seeking the Company’s participation.  A significant portion of the
Company’s available funds may be expended for investigative expenses and other
expenses related to preliminary aspects of completing an acquisition
transaction, whether or not any business opportunity investigated is eventually
acquired.





LACK OF
DIVERSIFICATION.  Because of the limited financial resources that the
Company has, it is unlikely that the Company will be able to diversify its
acquisitions or operations.  The Company’s probable inability to
diversify its activities into more than one area will subject the Company to
economic fluctuations within a particular business or industry and therefore
increase the risks associated with the Company’s operations.





NEED FOR
AUDITED FINANCIAL STATEMENTS.  The Company will require audited
financial statements from any business that it proposes to
acquire.  Since the Company will be subject to the reporting
provisions of the Securities Exchange Act of 1934, as amended (the Exchange
Act), it will be required to include audited financial statements in its
periodical reports for any existing business it may acquire.  In
addition, the lack of audited financial statements would prevent the securities
of the Company from becoming eligible for listing on NASDAQ, the automated
quotation system sponsored by the Association of Securities Dealers, Inc., or on
any existing stock exchange.  Moreover, the lack of such financial
statements is likely to discourage broker-dealers from becoming or continuing to
serve as market makers in the securities of the Company.  Finally,
without audited financial statements, the Company would almost certainly be
unable to offer securities under a registration statement pursuant to the
Securities Act of 1933, and the ability of the Company to raise capital would be
significantly limited.  Consequently, acquisitions prospects that do
not have, or are unable to provide reasonable assurances that they will be able
to obtain, the required audited statements would not be considered by the
Company to be appropriate for acquisition.





OTHER
REGULATION.  An acquisition made by the Company may be of a business
that is subject to regulation or licensing by federal, state, or local
authorities.  Compliance with such regulations and licensing can be
expected to be a time-consuming, expensive process and may limit other
investment opportunities of the Company.


10
 Table of Contents




DEPENDENCE
UPON MANAGEMENT; LIMITED PARTICIPATION OF MANAGEMENT.  The Company
will be entirely dependant upon the experience of its officers and directors in
seeking, investigating, and acquiring a business and in making decisions
regarding the Company’s operations.  It is possible that, from time to
time, the inability of such persons to devote their full time attention to the
Because investors will not be able to evaluate the merits of possible future
business acquisitions by the Company, they should critically assess the
information concerning the Company’s officers and directors.





LACK OF
CONTINUITY IN MANAGEMENT.The Company does not
have an employment agreement with any of its officers or directors, and as a
result, there is no assurance that they will continue to manage the Company in
the future.  In connection with acquisition of a business opportunity,
it is likely the current officers and directors of the Company may
resign.  A decision to resign will be based upon the identity of the
business opportunity and the nature of the transaction, and is likely to occur
without the vote or consent of the stockholders of the Company.





INDEMNIFICATION
OF OFFICERS AND DIRECTORS.  The Company's By-Laws provide for the
indemnification of its, directors, officers, employees, and agents, under
certain circumstances, against attorney’s fees and other expenses incurred by
them in any litigation to which they become a party arising from their
association with or activities on behalf of the Company.  The Company
will also bear the expenses of such litigation for any of its directors,
officers, employees, or agents, upon such persons promise to repay the Company
therefor if it is ultimately determined that any such person shall not have been
entitled to indemnification.  This indemnification policy could result
in substantial expenditures by the Company, which it may be unable to
recoup.





DEPENDENCE
UPON OUTSIDE ADVISORS.To supplement the
business experience of its officers and directors, the Company may be required
to employ accountants, technical experts, appraisers, attorneys, or other
consultants or advisors.  The selection of any such advisors will, be
made by the Company’s officers, without any input by
shareholders.  Furthermore, it is anticipated that such persons may be
engaged on an as needed basis without a continuing fiduciary or other obligation
to the Company.  In the event the officers of the Company consider it
necessary to hire outside advisors, they may elect to hire persons who are
affiliates, if those affiliates are able to provide the required
services.





LEVERAGED
TRANSACTIONS.  There is a possibility that any acquisition of a
business opportunity by the Company may be leveraged, i.e. the Company may
finance the acquisition of the business opportunity by borrowing against the
assets of the business opportunity to be acquired, or against the projected
future revenues or profits of the business opportunity.  This could
increase the Company’s exposure to larger losses.  A business
opportunity acquired through a leveraged transaction is profitable only if it
generates enough revenues to cover the related debt and
expenses.  Failure to make payments on the debt incurred to purchase
the business opportunity could result in the loss of a portion or all of the
assets acquired.  There is no assurance that any business opportunity
acquired through a leveraged transaction will generate sufficient revenues to
cover the related debt and expenses.





COMPETITION.  The
search for potentially profitable business opportunities is intensely
competitive.  The Company expects to be at a disadvantage when
competing with many firms that have substantially greater financial and
management resources and capabilities than the Company.  These
competitive conditions will exist in any industry in which the Company may
become interested.





NO
FORESEEABLE DIVIDENDS.  The Company has not paid dividends on its
Common Stock and does not anticipate paying such dividends in the foreseeable
future.





LOSS OF
CONTROL BY PRESENT MANAGEMENT AND STOCKHOLDERS.  In conjunction with
completion of a business acquisition, it is anticipated that the Company will
issue an amount of the Company’s authorized but unissued Common Stock that
represents the greater majority of the voting power and equity of the
Company.  In conjunction with such a transaction, the Company’s
current Officers, Directors, and principal shareholders could also sell all, or
a portion, of their controlling block of stock to the acquired Company’s
stockholders.  Such a transaction would result in a greatly reduced
percentage of ownership of the Company by its current
shareholders.  As a result, the acquired Company’s stockholders would
control the Company, and it is likely that they would replace the Company’s
management with persons who are unknown at this time.


11
 Table of Contents




NO PUBLIC
MARKET EXISTS.  There is currently no public market for the Company’s
common stock, and no assurance can be given that a market will develop or that a
shareholder will ever be able to liquidate his investment without considerable
delay, if at all.  If a market should develop, the price may be highly
volatile.  Factors such as those discussed in this Risk Factors
section may have a significant impact upon the market price of the securities
offered hereby.  Owing to the low price of the securities, many
brokerage firms may not be willing to effect transactions in the
securities.  Even if a purchasers finds a broker willing to effect a
transaction in theses securities, the combination of brokerage commissions,
state transfer taxes, if any, and any other selling costs may exceed the selling
price.  Further, many leading institutions will not permit the use of
such securities as collateral for any loans.





BLUE SKY
CONSIDERATION. Because the securities
registered hereunder have not been registered for resale under the Blue Sky laws
of any state, the holders of such shares and persons who desire to purchase them
in any trading market that might develop in the future, should be aware, that
there may be significant state Blue Sky law restrictions upon the ability of
investors to sell the securities and of purchasers to purchase the securities.
Accordingly, investors should consider the secondary market for the Company’s
securities to be a limited one.





Item 1B.
            UnresolvedStaff Comments.Not applicable to Smaller Reporting
      Company.





Item
      2.
            Descriptionof
Property.





Our
principal business address was 1518 West Hastings St., Vancouver, British
Columbia, Canada.  During the fiscal year ending March 31, 2007,
office rent totaled $6,000.  The office rent has been and will be
treated as a capital administrative expense. The Company moved is principal
corporate offices to 1111-207 West Hastings St. Vancouver, British Columbia,
Canada. No formal rent, lease or sublease has been set up yet and no funds have
been paid out for rent to date.





Item
      3.
            LegalProceedings.





We are
currently not involved in any litigation that we believe could have a materially
adverse effect on our financial condition or results of operations. There is no
action, suit, proceeding, inquiry or investigation before or by any court,
public board, government agency, self-regulatory organization or body pending
or, to the knowledge of the executive officers of our company or any of our
subsidiaries, threatened against or affecting our company, our common stock, any
of our subsidiaries or of our company’s or our company’s subsidiaries’ officers
or directors in their capacities as such, in which an adverse decision could
have a material adverse effect.





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





No matter
was submitted to a vote of the security holders, through the solicitation of
proxies or otherwise, during the fourth quarter of the fiscal year covered by
this report.





PART
II





Item
      5.
            Marketfor Common Equity, Related Stockholder
      Matters and Issuer Purchases of Equity
  Securities.





(a)
            Market
      Information.





Our
common stock trades Over-the-Counter (OTC) on the NASD Electronic Bulletin Board
under the symbol GIMU.  Table 1 sets forth the high and low sale
information for fiscal years 2007 and 2006.  These quotations reflect
inter-dealer prices, without retail mark-up, mark-down or commission and may not
represent actual transactions.





Table
1.





Sale
Information




Fiscal
      Quarter Ended
            
            High
            
            
            LowMarch
      31, 2008
            
            0.05
            
            
            0.05December
      31, 2007
            
            0.05
            
            
            0.05September
      30, 2007
            
            0.07
            
            
            0.04June
      30, 2007
            
            0.07
            
            
            0.06March
      31, 2007
            
            0.09
            
            
            0.09December
      31, 2006
            
            0.12
            
            
            0.12September
      30, 2006
            
            0.17
            
            
            0.13June
      30, 2006
            
            0.13
            
            
            0.10March
      31, 2006
            
            0.16
            
            
            0.16


12
 Table of Contents




(a)
            Holders.





Our
company has approximately 31 record shareholders of its common stock as of March
31, 2008 holding 16,195,645 common shares. A significant number of shares are
held in “street name” therefore we believe that the number of beneficial
shareholders exceeds the number of record shareholders.





(b)
            Dividends.





There are
no restrictions imposed on the Company which limit its ability to declare or pay
dividends on its common stock, except for corporate state law limitations. No
cash dividends have been declared or paid to date and none are expected to be
paid in the foreseeable future.





(c)
            Recent
      Sales of Unregistered Securities:
None





(d)
            Securities
      Authorized for Issuance under Equity Compensation Plans:
    None





Item 6.
            SelectedFinancial Data.  Not Applicable to Smaller Reporting
      Companies.





Item
      7.
            Management’sDiscussion and Analysis of Financial
      Condition and Results of Operation or Plan of
  Operation.





When used
in this Form 10-KSB and in our future filings with the Securities and Exchange
Commission, the words or phrases will likely result, management expects, or we
expect, will continue, is anticipated, estimated or similar expressions are
intended to identify forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995.  Readers are
cautioned not to place undue reliance on any such forward-looking statements,
each of which speak only as of the date made.  These statements are
subject to risks and uncertainties, some of which are described
below.  Actual results may differ materially from historical earnings
and those presently anticipated or projected.  We have no obligation
to publicly release the result of any revisions that may be made to any
forward-looking statements to reflect anticipated events or circumstances
occurring after the date of such statements.





A. OPERATING
RESULTS





The
following discussion and analysis is based on and should be read in conjunction
with the Company's audited financial statements including the notes thereto and
other financial information appearing elsewhere herein. The audited financial
statements have been prepared using Canadian dollars and are presented in
accordance with accounting principles generally accepted in Canada.





U.S. AND
CANADIAN GAAP DIFFERENCES





The
Company changed its financial reporting currency to the United States Dollar
from the Canadian Dollar.  The operating statements for the fiscal
year ended March 31, 2006 have been retroactively adjusted to reflect this
change in reporting currency.  The financial statements have been
prepared in accordance with Canadian GAAP, which conform in all material
respects with those of the US and are disclosed in note 2 to the audited
financial statements of the Company for March 31, 2007 and 2006.





RESULTS
OF OPERATIONS - YEAR TO YEAR COMPARISONS BETWEEN 2008 AND 2007





For the
year ended March 31, 2008 the Company achieved sales revenues of $-0- compared
with sales revenues of $-0- for the period ended March 31, 2007. The Company's
net loss for the year was $134,274 in 2007 compared to net loss of $73,765 in
2007. Such reduction in the net loss was due primarily to an increased focus on
reducing expenses. As of the year ended March 31, 2008, the Company had an
accumulated stockholders' deficiency of $(640,389).


13
 Table of Contents




B. LIQUIDITY AND CAPITAL
RESOURCES





YEAR
ENDED MARCH 31, 2008 COMPARED WITH THE YEAR ENDED MARCH 31, 2007





The
Company had no assets in 2007 or 2008.





The
Company's overall liabilities increased from $506,933 in 2007 to $640,389 in
2008. Liabilities increased as a result of accrued legal fees of approximately
$70,000 for services rendered.





The
Company has had no significant operations during the last fiscal year and,
accordingly, is fully dependent either future sales of securities or upon its
current management and, or advances or loans from significant stockholders or
corporate officers to provide sufficient working capital to preserve the
integrity of the corporate entity.





There is
no assurance that the Company will be able to obtain additional funding through
the sales of additional securities or, that such funding, if available, will be
obtained on terms favorable to or affordable by the Company. It is the intent of
management and significant stockholders to provide sufficient working capital
necessary to support and preserve the integrity of the corporate entity.
However, there is no legal obligation for either management or significant
stockholders to provide additional future funding.





We will
need to raise capital in order to commence our proposed business
operations.  No assurance can be given that we will be able to raise
sufficient capital to implement any proposed business operations.  We
have not identified any specific future financing sources. In the future, our
efforts to finance the Company may result in the issuance of equity and debt
instruments. This and other future financing activity, if any, may result in the
dilution of shareholder equity. We expect to incur financial losses for the
foreseeable future.





The
Company has no residual capital commitment in respect to its discontinued
operations and has no current capital commitments.





US GAAP
VERSUS CANADIAN GAAP





Under
Canadian GAAP applicable to junior mining exploration companies, mineral
exploration expenditures on prospective properties may be deferred until such
time as it is determined that further exploration is not warranted, at which
time the property costs are written-off. Under US GAAP, all exploration
expenditures must be expensed until an independent feasibility study has
determined that the property is capable of economic commercial
production.





There
were no property costs incurred or written off during the 2006 or 2005 fiscal
year and accordingly the differences between the allowable US and Canadian GAAP
treatments of property costs would result in no change in net loss under U.S.
GAAP from that reported under Canadian GAAP.





OFF-BALANCE
SHEET ARRANGEMENTS:  None





7A.
            QuantitativeAnd Qualitative Disclosures About Market
  Risk.





The
Company does not issue or invest in financial instruments or their derivatives
for trading or speculative purposes.  The limited operations of the
Company are conducted primarily in Canada, and, are not subject to material
foreign currency exchange risk.  Although the Company has outstanding
debt and related interest expense, market risk of interest rate exposure in the
United States is currently not material.





Item
      8.
            FinancialStatements and Supplementary
    Data.





The
audited financial statements for the Company for March 31, 2008 and 2007 are
attached hereto and form a material part of this Annual Report.





Item
      9.
            ChangesIn and Disagreements with Accountants on
      Accounting and Financial
Disclosure.





On May
10, 2007, we dismissed  or former independent certified accountant
James Stafford Chartered Accountants and engaged a replacement independent
registered accountant firm named Jorgensen & Co, Certified Public
Accountants, of Bellevue, Washington (“Jorgensen”), as the Company’s new
registered independent public accounting firm to audit the Company’s financial
statements for the year ended March 31, 2008. We have not had any other changes
in nor have we had any disagreements, whether or not resolved, with our
accountants on accounting and financial disclosures during our recent fiscal
year or any later interim period.


14
 Table of Contents





Item
      9A.
            Controlsand
Procedures.





(a)
            Evaluation
      of Disclosure Controls and
Procedures.





We
maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and
15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) that are designed to be effective in providing reasonable assurance that
information required to be disclosed in our reports under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified
in the rules and forms of the Securities and Exchange Commission (the “ SEC”),
and that such information is accumulated and communicated to our management to
allow timely decisions regarding required disclosure.





As of the
end of the reporting period, March 31, 2008, we carried out an evaluation, under
the supervision and with the participation of our management, including the
Company's Chairman and Chief Executive Officer/Principal Accounting Officer, of
the effectiveness of the design and operation of our disclosure controls and
procedures pursuant to Rule 13a-15(e) of the Securities  Exchange Act
of 1934 (the "Exchange Act"),  which
disclosure  controls  and  procedures  are  designed
to insure that  information required to
be  disclosed  by a company in
the  reports  that it files under the Exchange Act is
recorded, processed,  summarized and
reported  within  required time periods specified by the
SEC's rules and forms.





Based
upon that evaluation, the Chairman  and the
Chief  Financial  Officer  concluded  that
our  disclosure
controls  and  procedures  were
effective  in timely  alerting  them to material
information  relating  to the Company  required to
be included in the  Company's period SEC filings.  However,
the material information was untimely filed due to shortage of funds required to
pay accountants, lawyers and edgar filing agents.





We filed
our annual report on Form 10-KSB for the fiscal year ending March 31, 2007 nine
days late.  We filed our quarterly reports on Forms 10-QSB for the
periods ending June 30, 2007 and December 31, 2007 one day late and three days
late, respectively.





(b)
            Changes
      in Internal Control.





Subsequent   to  the  date  of  such   evaluation   as   described   in
subparagraph(a)above, there were no changes in our internal
controls  or other factors that could significantly  affect
these controls,  including any
corrective   action  with  regard  to  significant   deficiencies  and  material
weaknesses.





(c)
            Limitations.





Our
management, including our Principal Executive Officer and Principal Financial
Officer, does not expect that our disclosure controls or internal controls over
financial reporting will prevent all errors or all instances of
fraud.  However, we believe that our disclosure controls and
procedures are designed to provide reasonable assurance of achieving this
objective.  A control system, no matter how well designed and
operated, can provide only reasonable, not absolute, assurance that the control
system's objectives will be met. Further, the design of a control system must
reflect the fact that there are resource constraints, and the benefits of
controls must be considered relative to their costs. Because of the inherent
limitations in all control systems, no evaluation of controls can provide
absolute assurance that all control issues and instances of fraud, if any,
within our company have been detected. These inherent limitations include the
realities that judgments in decision-making can be faulty, and that breakdowns
can occur because of simple error or mistake. Controls can also be circumvented
by the individual acts of some persons, by collusion of two or more people, or
by management override of the controls. The design of any system of controls is
based in part upon certain assumptions about the likelihood of future events,
and any design may not succeed in achieving its stated goals under all potential
future conditions. Over time, controls may become inadequate because of changes
in conditions or deterioration in the degree of compliance with policies or
procedures. Because of the inherent limitation of a cost-effective control
system, misstatements due to error or fraud may occur and not be
detected.





ITEM 9B.
            OtherInformation.None


15
 Table of Contents




PART
III





Item
      10.
            Directors, Executive Officers, and Corporate
      Governance





The  following  table
sets  forth
the  officers  and  directors  of
the  Global Immune Technologies, Inc.





(a)
Directors and Executive Officers





The
following table sets forth the name, age, and position of each Director and
Executive Officer of Global Immune Technologies Inc:





NAME
            AGE
            POSITION
            Term
      of OfficeDonald
      L. Perks
            56
            President,
      CEO,CFO, Director
            8/15/05-Present








Donald L.
Perks: President, CEO, CFO, Director - elected at AGM September 17, 2003 -
resigned May 9, 2005 - reappointed August 15, 2005





There are
no arrangements or understandings between the directors and officers of Global
Immune Technologies, Inc. and any other person pursuant to which any director or
officer was or is to be selected as a director or officer. In addition, there
are no agreements or understandings for the officers or directors to resign at
the request of another person and the above-named officers and directors are not
acting on behalf of nor acting at the direction of any other
person.





The
following summary outlines the professional background of the directors and
executive officers of the Company.





Donald
Perks, President, CEO, CFO and member of the board of directors is an
independent businessman and is a self-employed Business Consultant. Mr. Perks
founded Canada Pay Phone and was active in the success of that company from 1994
to 2001. He has been actively managing Global Immune Technologies Inc. since
2003.





(b)
            Identify
      Significant
Employees.   None.





(c)
            Family
      Relationships.  None
known.





(d)
            Involvement
      in Certain Legal Proceedings.  None of the Company’s directors,
      officers, promoters or control persons, if any, during the past five years
      was, to the best of the Company’s
knowledge:





1.
            A
      general partner or executive officer of a business that had a bankruptcy
      petition filed by or against it either at the time of the bankruptcy or
      within the two years before the
bankruptcy;


2.
            Convicted
      in a criminal proceeding or been subject to a pending criminal proceeding
      (excluding traffic violations and other minor
  offenses);


3.
            Subject
      to any order, judgment, or decree, not subsequently reversed, suspended or
      vacated, of any court of competent jurisdiction, permanently or
      temporarily enjoining, barring, suspending or otherwise limiting his or
      her involvement in any type of business, securities or banking activities;
      and


4.
            Found
      by a court of competent jurisdiction (in a civil action), the Securities
      and Exchange Commission or the Commodity Futures Trading Commission to
      have violated a federal or state securities or commodities law, and the
      judgment has not been reversed, suspended or
  vacated.





Audit
Committee and Financial Expert:





The
Company has no audit committee financial expert, as defined under
Section 228.401, serving on its audit committee because it hasno audit committee and is not required to have an audit committee
because it is not a listed security as defined in Section
240.10A-3.  Accordingly, all material decisions affecting the
Company's audited financial statements, periodic disclosure with the SEC and its
relationship with its auditors are addressed by the entire Board of
Directors.


16
 Table of Contents




Compliance
with Section 16(a) of the Securities Exchange Act of 1934





Section  16(a)
of the  Securities  Exchange Act of 1934 requires
the  Company's
directors  and  executive  officers,
and  persons  who own more than 10% of the Company's Common
Stock, to file with the Securities and Exchange  Commission initial
reports of beneficial  ownership and reports of changes in beneficial
ownership of Common Stock of the Company. Officers, directors and greater than
10% shareholders are required by the Securities and Exchange
Commission  to furnish the Company with copies of all
section  16(a) reports they file.  The company’s sole
officer and director has not filed any Section 16 reports.




CODE OF
ETHICAL CONDUCT.





On
October 24, 2006, our board of directors adopted our code of ethical conduct
that applies to all of our employees and directors, including our principal
executive officer, principal financial officer, principal accounting officer or
controller, and persons performing similar functions.





We
believe the adoption of our Code of Ethical Conduct is consistent with the
requirements of the Sarbanes-Oxley Act of 2002.





Our Code
of Ethical Conduct is designed to deter wrongdoing and to promote:





●
            Honest
      and ethical conduct, including the ethical handling of actual or apparent
      conflicts of interest between personal and professional
      relationships;


●
            Full,
      fair, accurate, timely and understandable disclosure in reports and
      documents that we file or submit to the Securities & Exchange
      Commission and in other public communications made by
  us;


●
            Compliance
      with applicable governmental laws, rules and
  regulations,


●
            The
      prompt internal reporting to an appropriate person or persons indentified
      in the code of violations of our Code of Ethical Conduct;
    and


●
            Accountability
      for adherence to the Code.





Item 11.
            Executive
      Compensation.





The
following table shows compensation paid to our Executive Officers during the two
fiscal periods ended March 31, 2008 and March 31, 2007.





SUMMARY
COMPENSATION




Name
                and
                Principal
                Position
              
              
              Year
              
              
              Salary
                ($)
              
              
              Bonus
                ($)
              
              
              Stock
                Awards
                ($)
              
              
              Option
                Awards
                ($)
              
              
              Non-Equity
                Incentive
      Plan
                Compensation
                ($)
              
              
              Nonqualified
                Deferred
                Compensation
                Earnings
                ($)
              
              
              All
                Other
                Compensation
                ($)
              
              
              Total
                ($)(a)
              
              
              (b)
              
              
              (c)
              
              
              (d)
              
              
              (e)
              
              
              (f)
              
              
              (g)
              
              
              (h)
              
              
              (i)
              
              
              (j)Don
      Perks,
              
              
              2008
              
              
              
              27,000
              (1)
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              27,000Pres.,
      CFO and Director (1)
              
              
              2007
              
              
              
              24,456
              (1)
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              -0-
              
              
              
              24,456




(1)
            Don
      Perks’ annual compensation was $CDN 30,000 or
  US$27,000.





Grants
of Plan-Based Awards





We made
no grants from plans to any executive officer during the fiscal year ended March
31, 2008.


17
 Table of Contents




Outstanding Equity Awards at Fiscal Year-End





There
were no outstanding equity awards to any executive officer at the end of the
fiscal year ended March 31, 2008.





Option
Exercises and Stock Vested





Options
      Awards
            
            
            Stock
    AwardsName
            
            Number
              of
              Shares Acquired
      on
              Exercise
            
            
            Value
              Realized
              Upon
              Exercise
            
            
            Number of
              Shares
              Acquired on
              Vesting
            
            
            Value
              Realized
              on
              Vesting(#)
            
            
            ($)
            
            
            (#)
            
            
            ($)(a)
            
            (b)
            
            
            (c)
            
            
            (d)
            
            
            (e)Don
      Perks, Director
            
            
            -0-
            
            
            
            -0-
            
            
            
            -0-
            
            
            
            -0-





Director
Compensation





The
Company has not established any policy concerning director
compensation.  No directors received any compensation during the
fiscal year ended March 31, 2008.








Item
      12.
            SecurityOwnership of Certain Beneficial Owners and
      Management and Related Stockholder
Matters.





Table 1
lists the persons who are known to the Company to be the owners of more than
five percent of the Company’s equity shares according to the Company’s records
as of March 31, 2008. Beneficial Ownership of more than 5% based on 16,195,645
common shares.





Beneficial
Ownership of 5%.





(a) The
following shareholders own five (5%) percent or more of our common
stock.





Shareholder
      Name and Address
            
            Number
      of Shares
              Beneficially
      Owned
              Common
      Shares
            
            
            Percentage
      Ownership
              Beneficially
      Owned
              Common
      SharesAzimuth
      CorporationP.O.
      Box 3936Saint
      Andrews, NB E5B 3S7
            
            
            1,000,000
            
            
            
            6.2
            %CanadaCapital
      Associates828
      West 7th
      St.Vancouver,
      B.C. V5Z 1C1Canada
            
            
            2,500,000
            
            
            
            15.4
            %J&J
      Rentals, Inc.P.O.Box
      683Miramichi,
      NB E1V 3T7
            
            
            1,000,000
            
            
            
            6.2
            %








(b)   Security
Ownership of Management.  Based on 16,195,645 shares as set forth in
(a) above as of March 31, 2008.




Table
2.


(1)
            (2)
            (3)
            (4)Title
      of Class Common
      Stock
            Name
      and Address
            Amount
      and Nature
            Percent
      of ClassDonald
      Perks
            1518
      West Hastings St.,Vancouver,
      British ColumbiaCanada.
            -0-
            -0-




18
 Table of Contents





(c)
              Changes
      in Control.





The
Company anticipates that compensation will be provided by the Company during the
Company's next financial year to Donald Perks in conjunction with certain
management and administrative services to be provided to the
Company.  The form of payment may be common stock grants.




LONG TERM
INCENTIVE PLANS - AWARDS IN MOST RECENTLY COMPLETED FINANCIAL YEAR


During
its most recently completed financial year, and for the two previously completed
financial years, the Company has not awarded or instituted any LTIPs in favor of
its Named Executive Officers.





OPTIONS/SAR
GRANTS DURING THE MOST RECENTLY COMPLETED FINANCIAL YEAR


No
individual grants of Options to purchase or acquire securities of the Company or
any of its subsidiaries (whether or not in tandem with SARs) or any freestanding
SARs were granted or were in effect and in favor of any of the Company's Named
Executive Officers during the Company's most recently completed financial
year.





AGGREGATE
OPTIONS/SAR EXERCISES DURING THE MOST RECENTLY COMPLETED FINANCIAL YEAR AND
FINANCIAL YEAR-END OPTION/SAR VALUE: None





DEFINED
BENEFIT PLANS


The
Company does not have, and at no time during its most recently completed
financial year had, any defined benefit or actuarial plans in respect of which
any of its Named Executive Officers were eligible to participate.





COMPENSATION
OF THE COMPANY'S DIRECTORS: None





MANAGEMENT
CONTRACTS: None





BOARD
PRACTICES





The Board
of Directors meets periodically to set policy and review the progress of the
Company as well as review and approve budgets and expenditures.





The
Directors of the Company are elected by the shareholders at each annual general
meeting of the Company, or, in the event of a vacancy, they are appointed by the
Board of Directors then in office, to serve until the 465next annual general
meeting of the Company or until their successors are elected and
ratified.





The
Company's executive officers are appointed by the Board of Directors and serve
at the discretion of the Board of Directors.





Item
      13.
            CertainRelationships, Related Transactions and Director
      Independence.





(a)
            Transactions
      with Management and Others.





Except as
otherwise set forth in this report, no member of management, executive officer,
director, nominee for a director or security holder who is known to the Company
to own of record or beneficially more than five percent of any class of the
Company’s voting securities, nor any member of the immediate family of any of
the foregoing persons, has had any direct or indirect material interest in any
transaction to which the Company was or is to be a party.





Mr. Perks
annual salary has been set as $27,000 (CND$ 30,000). This salary has been and
will continue to be treated as contributed services reflected as a component of
additional paid in capital.





Corporate
offices were provided by Donald Perks, the Company’s sole officer and director
for fiscal years 2008 and 2007.  For fiscal years 2008 and 2007, the
office rent was not accounted for as a payable to Mr. Perks, but rather as
additional paid in capital.


19
 Table of Contents




Donald
Perks paid certain payables on behalf of the Company the net of $0 and
$13,054  during the fiscal years ending March 31, 2008 and March 31,
2007, respectively, in order to settle outstanding Company
obligations.





Except as
otherwise set forth in this report, no member of management, executive officer,
director, nominee for a director or security holder who is known to the Company
to own of record or beneficially more than five percent of any class of the
Company’s voting securities, nor any member of the immediate family of any of
the foregoing persons, has had any direct or indirect material interest in any
transaction to which the Company was or is to be a party.





(b)
            Certain
      Business Relationships.





Except as
set forth in (a) above, and to the knowledge of management, or as previously
filed in the Company’s periodic reports, no director or nominee for director is
or has been related to any person who has been a party to any transaction with
the Company.





(c)
            Indebtedness
      of Management.





No member
of the Company’s management is or has been indebted to the Company since the
beginning of its last fiscal year.





(d)
            Transactions with
      Promoters.  None
known.





DIRECTOR
INDEPENDENCE





The Board
has determined that we do not have a majority of independent directors as that
term is defined under Rule 4200(a) (15) of the Nasdaq Marketplace Rules, even
though such definition does not currently apply to us, because we are not listed
on Nasdaq.





MEETINGS
AND COMMITTEES OF THE BOARD OF DIRECTORS





We
presently have no Board committees. Until further determination, the full Board
will undertake the duties of the audit committee, compensation committee and
nominating committee. We do not currently have an “audit committee financial
expert” since we currently do not have an audit committee in place.




The
Company does not currently have a process for security holders to send
communications to the Board.





Item
      14.
            PrincipalAccounting Fees and
  Services.





The
Company paid or accrued the following fees in each of the prior two fiscal years
to its principal accountant.





Year End
      3-31-08
            
            
            Year End
      3-31-07Audit
      Fees
            
            $
            7,500
            
            
            $
            10,000Audit-related
      FeesTax
      FeesAll
      other feesTotal
      Fees
            
            $
            7,500
            
            
            $
            10,000





AUDIT
FEES. Audit fees consist of fees billed for professional services rendered for
the audit of the Company's consolidated financial statements and review of the
interim consolidated financial statements included in quarterly reports and
services that are normally provided by the Company's principal accountants in
connection with statutory and regulatory filings or engagements.





AUDIT-RELATED
FEES. Audit related fees consist of fees billed for assurance and related
services that are reasonably related to the performance of the audit or review
of the Company's consolidated financial statements and are not reported under
"Audit Fees." There were no Audit-Related services provided in fiscal 2008 or
2007.





TAX FEES.
Tax fees are fees billed for professional services for tax compliance, tax
advice and tax planning.


20
 Table of Contents




ALL OTHER
FEES. All other fees include fees for products and services other than the
services reported above. There were no management consulting services provided
in fiscal 2008 or 2007.





Policy on
Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of
Independent Auditors





The
Company currently does not have a designated Audit Committee, and accordingly,
the Company's Board of Directors' policy is to pre-approve all audit and
permissible non-audit services provided by the independent auditors. These
services may include audit services, audit-related services, tax services and
other services. Pre-approval is generally provided for up to one year and any
pre-approval is detailed as to the particular service or category of services
and is generally subject to a specific budget. The independent auditors and
management are required to periodically report to the Company's Board of
Directors regarding the extent of services provided by the independent auditors
in accordance with this pre-approval, and the fees for the services performed to
date. The Board of Directors may also pre-approve particular services on a
case-by-case basis.





To our
knowledge, the Company's principal accountant during 2008 did not engage any
other persons or firms other than the principal accountant's full-time,
permanent employees.





Item
      15.
            Exhibitsand Financial Statement
  Schedules





(a)
Exhibits








31
            Chief
      Executive Officer-Section 302 Certification pursuant to Sarbanes-Oxley
      Act.


32
            Chief Executive Officer-Section
      906 Certification pursuanttoSarbanes-Oxley
      Act.








SIGNATURES





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





June 30,
2008





Global
Immune Technologies, Inc.








/s/ Donald PerksBy:Title:
      President, CEO, CFO








In
accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.





June 30,
2008








/s/ Donald PerksDonald
      Perks, CEO, CFO, Director







Table of Contents




Global
Immune Technologies, Inc.




March 31,
2008 and March 31, 2007




Financial
Statements




Index






Audit
      Report1Balance
      Sheets
            2Statements
      of Operations
            3Statement
      of Stockholders’ Deficiency
            4Statements
      of Cash Flows
            5Notes
      to the Financial Statements
            6


Table of Contents




Report
of Registered Independent Public Accountants








To the
Board of Directors and Stockholders,


Global
Immune Technologies, Inc.





We have
audited the accompanying balance sheets of Global Immune Technologies, Inc. (the
“Company”) as of March 31, 2008 and 2007 and the related statements of
operations, cash flows and stockholders’ deficiency for the two years then
ended.  These financial statements are the responsibility of the
Company’s management.  Our responsibility is to express an opinion on
these financial statements based on our audits.





We
conducted our audits in accordance with the standards of the Public Accounting
Oversight Board (United States of America).  Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.  An audit
includes examining, on a test basis, evidence supporting the amount and
disclosures in the financial statements.  An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement
presentation.  We believe that our audits provide a reasonable basis
for our opinion.




In our
opinion, these financial statements referred to above present fairly, in all
material respects, the financial position of Global Immune Technologies, Inc. as
of March 31, 2008 and 2007 and the results of its operations and its cash flows
for the years then ended in conformity with accounting principles generally
accepted in the United States of America.





The
accompanying financial statements referred to above have been prepared assuming
that the Company will continue as a going concern.  As discussed in
Note 2 to the financial statements, the Company has not yet achieved profitable
operations and is dependent on its ability to raise capital from stockholders or
other sources to sustain operations. These factors, along with other matters set
forth in Note 2, raise substantial doubt that the Company will be able to
continue as a going concern.  Management’s plans to address these and
other matters are also described in Note 2.  The financial statements
do not include any adjustments that might result from the outcome of this
uncertainty.











JORGENSEN & CO.


(a
registered pubic accounting firm)





Bellevue,
Washington
 June 23,
2008


1
 Table of Contents




Global
Immune Technologies, Inc.


Balance
Sheets


As of
March 31, 2008 and March 31, 2007




3/31/08
            
            
            3/31/07Assets:
            
            $
            -
            
            
            $
            -Total
      Assets
            
            $
            -
            
            
            $
            -Liabilities
      and Shareholders’ Deficit:Accounts
      payable
            
            $
            106,956
            
            
            $
            18,164Due
      to officer
            
            
            111,382
            
            
            
            86,382Due
      to related parties
            
            
            422,051
            
            
            
            402,387Total
      current liabilities
            
            
            640,389
            
            
            $
            506,933Contingencies
      and commitments
            
            
            -
            
            
            
            -Total
      liabilitiesShareholders’
      DeficitCumulative
      foreign currency adjustment
            
            
            4,542
            
            
            
            3,724Accumulated
      deficit
            
            
            (4,110,457
            )
            
            
            (3,976,183
            )Common
      stock (500,000,000 no par
      common shares authorized; 16,195,645 shares O/S)
            
            
            3,465,526
            
            
            
            3,465,526Total
      shareholders’ deficit
            
            
            (640,389
            )
            
            
            (506,933
            )Total
      Shareholders’ Deficit and Liabilities:
            
            $
            -
            
            
            $
            -


2
 Table of Contents




Global
Immune Technologies, Inc.


Statements
of Operations


For the
Years Ended March 31, 2007 and March 31, 2008




For
      the Year Ended3/31/08
            
            
            3/31/07Revenue
            
            $
            -
            
            
            $
            -General
      and administrative expense
            
            
            134,274
            
            
            
            73,765Net
      (loss)
            
            $
            (134,274
            )
            
            $
            (73,765
            )Basic
      and diluted loss per share
            
            $
            (0.00
            )
            
            $
            (0.01
            )Weighted
      average number of shares outstanding
            
            
            16,195,645
            
            
            
            16,195,645-
            
            
            
            -


3
 Table of Contents




Global
Immune Technologies, Inc


Statement
of Stockholders’ Deficit


For the
Years Ended March 31, 2007 and March 31, 2008




Common
      Shares
              Outstanding
            
            
            Paid-in
              Capital
            
            Accumulated
              Deficit
            
            
            Cumulative
              Translation
              Adjustment
            
            
            TotalsMarch
      31, 2006
            
            
            16,195,645
            
            
            $
            3,465,526
            
            
            $
            (3,902,418
            )
            
            $
            (5,808
            )
            
            $
            (442,700
            )Foreign
      Exchange
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            9,532
            
            
            
            9,532Net
      loss for the year
            
            
            
            
            
            
            
            
            
            
            (73,765
            )
            
            
            
            
            
            
            (73,765
            )March
      31, 2007
            
            
            16,195,645
            
            
            $
            3,465,526
            
            
            $
            (3,976,183
            )
            
            $
            3,724
            
            
            $
            (506,933
            )Foreign
      Exchange
            
            
            
            
            
            
            
            
            
            
            
            
            
            
            818
            
            
            
            818Net
      loss for the year
            
            
            
            
            
            
            
            
            
            
            (134,274
            )
            
            
            
            
            
            
            (134,274
            )March
      31, 2008
            
            
            16,195,645
            
            
            $
            3,465,526
            
            
            $
            (4,110,457
            )
            
            $
            4,542
            
            
            $
            (640,389
            )


4
 Table of Contents




Global
Immune Technologies, Inc.


Statements
of Cash Flows


For the
Years Ended March 31. 2008 and March 31, 2007




For
      the Year Ended3/31/08
            
            
            3/31/07Operating
      Activities:
            
            $
            -
            
            
            $
            -Net
      loss for periods
            
            
            (134,274
            )
            
            
            (73,765
            )Changes
      in current accounts:
            
            
            
            
            
            $Change
      in accounts payable
            
            
            88,792
            
            
            
            (110,671
            )Cash
      used in operations
            
            
            (45,482
            )
            
            
            (184,436
            )Investing
      Activities:
            
            $
            -
            
            
            $
            -Financing
      ActivitiesIncrease
      due to related parties
            
            
            25,000
            
            
            
            135,111Increase
      due to officer and director
            
            
            19,664
            
            
            
            39,651Cash
      from financing activities
            
            $
            44,664
            
            
            $
            174,762Increase
      (decrease) in cash
            
            
            (818
            )
            
            
            (9,674
            )Foreign
      currency translation adjustment
            
            
            818
            
            
            
            9,532Cash
      beginning of year
            
            
            -
            
            
            
            142Cash
      at end of year
            
            
            -
            
            
            
            -Interest
      paid during year
            
            none
            
            
            noneTaxes
      paid during year
            
            None
            
            
            None


5
 Table of Contents
  Global
Immune Technologies, Inc.
 Note to
the Financial Statements
 March 31,
2008 and March 31, 2007







Note
1 – Nature and Continuance of Operations




Global
Immune Technologies Inc. (the "Company") (formerly, Secureview Systems Inc.)
originally incorporated in 1985. During fiscal 2007, the Company changed its
name from Secure Systems Inc. to Global Immune Technology, Inc. and incorporated
in the state of Wyoming. The Company was formerly a British Columbia
corporation. Its business office continues to be located in Vancouver, British
Columbia, Canada.  The Company is considered a public shell with
administrative expenses being its only operations.





Note
2 – Significant Accounting Policies





The
following summary of significant accounting policies of the Company is presented
to assist in understanding the financial statements. The financial statements
and notes are representations of the Company's management, which is responsible
for their integrity and objectivity. These accounting policies conform to
accounting principles generally accepted in the Unites States of America and
have been consistently applied in the preparation of the financial
statements.





Reporting
Currency





Beginning
in fiscal 2007, the Company uses the United States dollar as its reporting
currency. For the fiscal year ended March 31, 2006, and earlier the Company's
reporting currency was the Canadian dollar.





Use
of Estimates





The
process of preparing financial statements in conformity with accounting
principles generally accepted in the United States of America requires the use
of estimates and assumptions regarding certain types of assets, liabilities, and
revenues and expenses. It is possible that these estimates and assumptions may
differ from actual results.





Reclassifications





Certain
amounts from prior periods have been reclassified to conform to the current
period presentation. This reclassification has not affected the Company's
accumulated deficit or net losses presented.





Going
Concern and Presentation





The
Company's financial statements have been prepared on a going concern basis,
which, as a general matter, contemplates the realization of assets and the
settlement of liabilities and commitments in the normal course of
business.





Management
cannot provide assurance that the Company will ultimately achieve profitable
operations or become cash flow positive, or raise additional debt and/or equity
capital. Management believes that the Company's capital resources should be
adequate to continue operating and maintaining its business strategy during the
fiscal year ending 31 March 2009. Prior to March 31, 2007, the Company closed
all of its bank accounts and relies solely on its president, who does not work
full time for the Company, to conduct its business.  For fiscal 2008
operations were financed through borrowing arrangements with related parties and
others.





Management
plans to continue this financing approach for fiscal 2009. However, the Company
may be unable to do so, and may be unable to access needed additional capital
through alternatives for the near future. Also,





6
 Table of Contents




Global
Immune Technologies, Inc.


Note to
the Financial Statements


March 31,
2008 and March 31, 2007






Management
is currently seeking a merger candidate with operations and other sources of
equity or debt financing. There is no assurance that these activities will be
economically viable.





The
matters discussed above, together with the Company's history of operating
losses, extensive current debt as reflected in the March 31, 2008 balance sheet,
and other things, raise substantial doubt about the ability of the Company to
continue as a going concern. The financial statements do not include any
adjustments that might result from a negative outcome of these uncertainties.
Such adjustments, if necessary, may include a liquidation basis of presentation
for any assets, liabilities and equities, which may reflect substantially lower
values than are currently reflected in the financial statements.





Cash





Cash and
cash equivalents include highly liquid investments with original maturities of
three months or less.





Fair
Value of Financial Instruments





The
Company's financial instruments include accounts payable and related party loans
payable. All instruments are accounted for on a historical cost basis, which,
due to the short maturity of these financial instruments, approximates fair
value at March 31, 2008 and 2007.





Derivative
Instruments





The
Company has not, to the date of these financial statements, entered into
derivative instruments to offset the impact of foreign currency
fluctuations.





Income
Taxes





Future
income tax assets and liabilities are determined based on temporary differences
between the accounting and the tax bases of the assets and liabilities and for
loss carry forwards, and are measured using the tax rates expected to apply when
these differences reverse. A valuation allowance is recorded against any future
income tax asset if it is not more likely than not that the asset will be
realized. For the fiscal year ended March 31, 2008 and 2007, the Company's net
future income tax assets were fully offset by a valuation
allowance.





Basic
and Diluted Loss Per Share





Basic
loss per share is calculated based on the weighted average number of shares
outstanding during the period. The treasury stock method is used for determining
the dilutive effect of options and warrants issued in calculating diluted
earnings per share. Under this method, the dilutive effect on loss per share is
recognized on the use of the proceeds that could be obtained upon the exercise
of options, warrants and similar instruments. It assumes that the proceeds would
be used to purchase common shares at the average market price during the
year.  For the years presented, this calculation proved to be
anti-dilutive.





Foreign
Currency Translation





The
Company's reporting currency is the United States dollar while its functional
currency is the Canadian dollar. Monetary assets and liabilities denominated in
Canadian dollars are translated at the rate of exchange in effect at the balance
sheet date. Non-monetary assets and equity are translated into United States
dollars at their applicable historical rates. Revenues and expenses are
translated at the average exchange rate for the period in which the expenses are
incurred. The Company had no revenues for the periods reported. Foreign currency
gains and losses are accumulated as other comprehensive income.





7
 Table of Contents





Global
Immune Technologies, Inc.
 Note to
the Financial Statements
 March 31,
2008 and March 31, 2007






Note
3 – Accounts Payable and Accrued Liabilities





Accounts
payable and accrued liabilities are non-interest bearing, unsecured and have
settlement dates within one  year.





Note
4 – Due to Related Parties





As of
March 31, 2008, the Company owed $111,382 to the Company’s sole officer and
director; and $406,815 to two separate significant shareholders and an
additional $15,337 to a related party.  Amounts due to related parties
are non-interest bearing, unsecured and have no fixed terms of
repayment.





Note
5 – Equity





Common
Stock





Common
stock has no par value. Shareholders are entitled to one vote for each share on
matters submitted to a vote to shareholders, and to share pro rata in all
dividends payable on common stock after payment of dividends on any preferred
shares having preference in payment of dividends.





Share
Purchase Warrants





During
the year ended March 31, 2007, 2,500,000 warrants expired without being
exercised by the holders. These warrants were originally issued in 2004. Each
warrant had entitled the holder to purchase one share of the Company's common
stock for $0.03. There were no warrants to purchase common shares outstanding at
March 31, 2008.





Note
6 – Income Taxes





On March
31, 2008, the Company had an unused U.S. NOL carry-forward of approximately
$74,000 for U.S. income tax purposes, which begin to expire in 2027. In
addition, at March 31, 2007, the Company had approximately $445,000 (expressed
in U.S. dollars) of unused Canadian net operating loss carry forward for
Canadian income tax purposes, which expire fully by 2016.





Management
is unable to determine that it is more likely than not that the Company will
generate profitable operations to benefit from the deferred tax aspect of its
income tax loss carry-forwards for either U.S. or Canadian income tax purposes,
and has fully an allowed for the deferred tax asset so that no value is
reflected in the financial statements regardless of their time of expiration.
The amount of this allowance has increased each fiscal year so that no deferred
tax asset has been reflected in the Company's financial statements.





Note
7 – Supplemental Cash Flows Disclosures





During
fiscal 2008 and 2007, related parties paid $6,015 and $117,225, respectively, by
direct payment for certain payables owed by the Company. These reductions in
payable and corresponding increases in payables to related parties are reflected
in the statement of cash flows as reduction of accounts payable and an increase
in related party debt.





Note
8 – Commitments and Contingencies





The
Company has agreed to pay its president and sole director a management fee of
approximately $2,250 ($2,500 CDN) per month. No payments have been paid to date
and this is recorded as an accrual due to officer.




8