U. S. Securities and Exchange Commission
                         Washington, D. C.  20549

                              FORM 10-QSB

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

     For the quarter ended March 31, 2001
                           --------------

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

     For the transition period from               to
                                    -------------    -------------

                        Commission File No. 033-20344-LA
                                            ------------

                           GLOBAL ACQUISITION, INC.
                      -----------------------------------
              (Name of Small Business Issuer in its Charter)

         COLORADO                                           84-1077242
         --------                                           ----------
(State or Other Jurisdiction of                     (I.R.S. Employer I.D. No.)
 incorporation or organization)

                           3046 E. Brighton Place
                         Salt Lake City, Utah 84121
                         --------------------------
                 (Address of Principal Executive Offices)

                Issuer's Telephone Number:  (801) 201-7635

     Check whether the Issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the Company was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

     (1)   Yes  X     No            (2)   Yes X      No
               ---      ---                  ---      ---

                 (APPLICABLE ONLY TO CORPORATE ISSUERS)

          Indicate the number of shares outstanding of each of the Issuer's
classes of common stock, as of the latest practicable date:

       Class              Outstanding as of March 31, 2001

Common stock , $0.001                5,831,503
<PAGE>
                              INDEX
                                                                 Page
PART I.                                                          Number

     ITEM 1.   Financial Statements (unaudited)                  3

               Balance Sheets                                    4
                March 31, 2001 and December 31, 2000

               Statements of Operations
                For the three months ended March 31, 2001        5
                and 2000 and the period from January 1, 1996
                to March 31, 2001

               Statements of Cash Flows
                For the three months ended March 31, 2001 and    6
                2000 and the period from January 1, 1996 to
                March 31, 2001

               Notes to Financial Statements                     7

     ITEM 2.   Plan of Operations                               10

PART II

               Signatures                                       11
<PAGE>

                  PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements.

The accompanying consolidated balance sheets of Global Acquisitions, Inc.
(development stage company) at March 31, 2001 and the statement of operations
and the statement of cash flows for the three months ended March 31, 2001 and
2000 and the period January 1, 1996 to March 31, 2001, have been prepared by
the Company's management and they do not include all information and notes to
the financial statements necessary for a complete presentation of the
financial position, results of operations, cash flows, in conformity with
generally accepted accounting principles.  In the opinion of management, all
adjustments considered necessary for a fair presentation of the results of
operations and financial position have been included and all such adjustments
are of a normal recurring nature.

Operating  results for the quarter ended March 31, 2001, are not necessarily
indicative of the results that can be expected for the year ending December
31, 2001.
<PAGE>
<TABLE>
                      GLOBAL ACQUISITIONS, INC.
                           BALANCE SHEETS
                           March 31, 2001
<CAPTION>


ASSETS
<S>                                                            <C>
CURRENT ASSETS

 Cash                                                           $     -

         Total Current Assets                                   $     -

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

    Accounts payable - related party                            $ 41,971
    Accounts payable                                               8,230

     Total Current Liabilities                                    50,201

STOCKHOLDERS' EQUITY

    Preferred stock
      10,000,000 shares authorized at $0.10 par value;
      non issued and outstanding                                      -
 Common stock
       100,000,000 shares authorized at $.001 par value;
       5,831,503 issued and outstanding                            5,831
 Capital in excess of par value                                5,716,058
    Accumulated deficit - Note 1                              (5,768,569)

   Total Stockholders' Deficiency                                (50,201)

                                                             $        -
</TABLE>
 The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
                    GLOBAL ACQUISITIONS, INC.
                    STATEMENTS OF OPERATIONS
      For the Three Months Ended March 31, 2001 and 2000 and the Period
 January 1, 1996 (date of inception of development stage) to March 31, 2001
<CAPTION>
                                                               Period
                                    Mar 31,       Mar 31,    Jan 1, 1996
                                     2001          2000     to Mar 31, 2001
<S>                               <C>             <C>         <C>
REVENUES                           $         -     $        -  $        -


EXPENSES

   Administrative                            -         54,400     115,130
   Interest expense                          -         26,123     340,159

NET LOSS - before other income and
expense                                      -        (80,523)   (455,289)

OTHER INCOME AND EXPENSE

   Loss of assets                            -              -  (4,608,767)
   Settlement of debt                        -        412,726   1,615,082

NET PROFIT (LOSS)                  $         -     $ 332,203  $(3,448,974)

NET PROFIT (LOSS) PER COMMON
 SHARE

    Basic                                $   -        $   .16

AVERAGE OUTSTANDING
   SHARES

        Basic                        5,831,503      2,088,640
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
<TABLE>
                     GLOBAL ACQUISITIONS,  INC.
                     STATEMENTS OF CASH FLOWS
For the Three Months Ended March 31, 2001 and 2000 and the period
January 1, 1996 (date of inception of development stage) to March 31, 2001
<CAPTION>
                                                               Period
                                    Mar 31,       Mar 31,    Jan 1, 1996
                                     2001          2000     to Mar 31, 2001
<S>                               <C>             <C>         <C>
CASH FLOWS FROM
 OPERATING ACTIVITIES


 Net profit (loss)                 $         -    $  322,203     (3,448,974)

 Adjustments to reconcile net loss to
  net cash provided by operating
  activities

    Change in accounts payable               -        90,523         364,156
    Issuance of common stock for
     expenses And contribution
     to capital for expenses                 -           -            91,133
    Loss of assets                           -           -         4,608,767
    Gain on settlement of debt               -      (412,726)     (1,615,082)

          Net Cash From (Used)
          in Operations                      -           -                 -

CASH FLOWS FROM INVESTING
 ACTIVITIES                                  -           -                 -

CASH FLOWS FROM FINANCING
 ACTIVITIES                                  -           -                 -

 Net Increase (Decrease) in Cash             -           -                 -

 Cash at Beginning of Period                 -           -                 -

 Cash at End of Period                $      -     $     -         $       -


NON CASH FLOWS FROM OPERATING ACTIVITIES

Issuance of  14,949 shares common stock for services - 1996     $  20,933
Issuance of  834,365 shares common stock for services and
expenses - 2000                                                    55,200
Contribution to capital - expenses                                 15,000
</TABLE>
The accompanying notes are an integral part of these financial statements.
<PAGE>
                   GLOBAL ACQUISITIONS,  INC.
                  NOTES TO FINANCIAL STATEMENTS

1. ORGANIZATION

The Company was incorporated on August 15, 1986 under the laws of the state of
Colorado, with the name "Vates Corp." with authorized common stock of
100,000,000 shares with no par value and authorized preferred stock of
10,000,000 shares with a par value of $0.10.  On June 6, 1991, the name was
changed to "O.T.S. , Holdings , Inc." and on April 17, 2001  the name was
changed to "Global Acquisitions, Inc."   On March 6, 2000 the authorized
common stock was changed to a par value of $.001

Since inception, the Company has completed several acquisitions in connection
with three reverse stock splits resulting in its present capitalization.

This report has been prepared showing the name change and the after stock
split shares with a par value of $.001 from inception.

After 1995 the Company became inactive and is considered to be in the
development stage after that date.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Methods

The Company recognizes income and expenses based on the accrual method of
accounting.

Dividend Policy

The Company has not yet adopted a policy regarding payment of dividends.

Income Taxes

On March 31, 2001, the Company had accumulated net operating losses of
$5,716,058 however the loss will not be available for carryover since there
are no assets and there has been a substantial change in its stockholders.

Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in
accordance with generally accepted accounting principles.  Those estimates and
assumptions affect the reported amounts of the assets and liabilities, the
disclosure of contingent assets and liabilities, and the reported revenues and
expenses.  Actual results could vary from the estimates that were assumed in
preparing the financial statements.

Financial Instruments

The carrying amounts of financial instruments, including  the accounts
payable, are considered by management to be their estimated fair values.
<PAGE>

                    GLOBAL ACQUISITIONS,  INC.
            NOTES TO FINANCIAL STATEMENTS - continued

Basic and Diluted Net Income (Loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted
average number of shares actually outstanding, after the  stock splits.
Diluted net income (loss) per share amounts are computed using the weighted
average number of common shares and common equivalent shares outstanding as if
shares had been issued on the exercise of the preferred share rights.

Comprehensive Income

The Company adopted Statement of Financial Accounting Standards No. 130. The
adoption of this standard had no impact on the total stockholder's equity.

Other Recent Accounting Pronouncements

The Company does not expect that the adoption of other recent accounting
pronouncements will have a material impact on its financial statements.

3.  RELATED PARTY TRANSACTIONS

Related  parties will have  acquired 85% of the common stock issued by the
Company.

4.  BANKRUPTCY

On   April 23, 1997  the Company entered a petition in bankruptcy to clear its
debt, however, on  December 23, 1999,  the court terminated the petition with
no action because of a no asset report by the trustee.

5.  GOING CONCERN

The Company intends to acquire  interests in various business opportunities
which, in the opinion of management, will provide a profit to the Company,
however there is insufficient working capital for any future planned activity.
Continuation of the Company  as a going concern is dependent upon obtaining
additional working capital and the management of the Company has developed a
strategy, which it believes will accomplish this objective through additional
equity funding and long term debt which will enable the Company to conduct
operations for the coming year.

6.   RECISSION OF ACQUISITION OF SUBSIDIARY

On February 18, 2000, the Company acquired all of the outstanding stock of
"Thin Battery, Inc"., a Nevada corporation through a stock for stock
agreement.  On February 14, 2001 the acquisition of Thin Film Battery, Inc.
(subsidiary) was mutually rescinded and the stock issued in connection with
the acquisition was returned to the Company and canceled.

This report has been prepared showing the rescission of the acquisition
retroactively.
<PAGE>
Item 2.   Plan of Operation.
----------------------------

     The last revenues produced by the Company were during the year ended
December 31, 1995, from the sale of specialty food products by its then
wholly-owned subsidiary, All Pure Foods, Inc., a Nevada corporation ("All Pure
Foods").  These operations ceased in 1995, and this subsidiary was abandoned.

     The Company recommenced its developmental stage in calendar 1996.

     The Company may begin the search for the acquisition of assets, property
or business that may benefit the Company and its stockholders once the Board
of Directors sets guidelines of industries in which the Company may have an
interest; or the Company may seek funding to commence selected business
operations.

     The Company is unable to predict the time as to when and if it may
actually participate in any specific business endeavor, and will be unable
to do so until it determines the particular industries of interest to the
Company, at which time it will adopt a business plan.

Results of Operations.
----------------------

     The Company had no revenues or operations during the quarter ended March
31, 2001 or 2000, with accrued expenses for interest of $0 and $26,123,
respectively, and $0 and $54,400 for administrative expenses resulting in
profits of $0 and $332,203 in the respective quarters ended March 31, 2001 and
2000.

     The Company had no cash assets, with current liabilities of $50,201, for
the quarter ended March 31, 2001.

     A principal stockholder of the Company contributed $15,000 for expenses
during fiscal 2000 and an additional $3,512 during the quarter ended March 31,
2001.

Liquidity.
----------

     The Company had no cash or liquid resources during the quarters ended
March 31, 2001 and 2000, and expenses were paid by an advance of $15,000 by a
principal stockholder during fiscal 2000, and an additional advance of $3,512
during the quarter ended March 31, 2001.

     The Company will need additional working capital to be successful in its
planned activities.

                        PART II - OTHER INFORMATION

Item 1.   Legal Proceedings.
----------------------------

          None; not applicable.

Item 2.   Changes in Securities and Use of Proceeds.
---------------------------------------------------

          None; not applicable.

Item 3.   Defaults Upon Senior Securities.
------------------------------------------

          None; not applicable.

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

          None; not applicable.

Item 5.   Other Information.
----------------------------

          None; not applicable.

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

          (a)  Exhibits.

               None.

          (b)  Reports on Form 8-K.

               8-K/A Current Report dated April 7, 2000, filed with the
               Securities and Exchange Commission on February 14, 2001.

               8-K/A Current Report dated April 7, 2000, filed with the
               Securities and Exchange Commission on May 8, 2001.

                            SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by
the undersigned there unto duly authorized.

                                       GLOBAL ACQUISITIONS, INC.



Date: 5/11/01                          By/s/Mark Meriwether
                                       --------------------------------------
                                       Mark Meriwether
                                       President