# EDGAR Filing Document

**Accession Number:** 0001830696
**File Stem:** 0001641172-25-026644
**Filing Date:** 2025-9
**Character Count:** 49831
**Document Hash:** 314ab6413ba2f7df54e4db1181b5d3a6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-026644.hdr.sgml**: 20250905

**ACCESSION NUMBER**: 0001641172-25-026644

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 32

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250905

**DATE AS OF CHANGE**: 20250905

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GLOBAL LEADERS CORP
- **CENTRAL INDEX KEY:** 0001830696
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NV

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56557
- **FILM NUMBER:** 251294951

**BUSINESS ADDRESS:**
- **STREET 1:** UNITS 2613-18, 26/F., SHUI ON CENTRE
- **STREET 2:** 6-8 HARBOUR ROAD
- **CITY:** WANCHAI
- **STATE:** K3
- **ZIP:** 0000000000
- **BUSINESS PHONE:** (852)81023633

**MAIL ADDRESS:**
- **STREET 1:** UNITS 2613-18, 26/F., SHUI ON CENTRE
- **STREET 2:** 6-8 HARBOUR ROAD
- **CITY:** WANCHAI
- **STATE:** K3
- **ZIP:** 0000000000

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period ended **July 31, 2025**

OR

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from_________to_________

Commission File **No. 000-56557**

**<u>GLOBAL LEADERS CORP.</u>**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Nevada** | **65-0386288** |
| (State or other jurisdiction<br> of incorporation or organization) | (I.R.S. Employer<br> Identification No.) |

---

**Units 2613-18, 26/F., Shui On Centre**

**6-8 Harbour Road,** Wanchai

**<u>Hong Kong</u>**

(Address of principal executive offices, zip code)

999077

**Tel: (852) 8102 3633**

(Registrant's telephone number, including area code)

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

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

Indicate by check mark whether the issuer (1) has 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 ☒. No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (check one):

Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller reporting company ☒ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule 12b-2 of the Exchange Act): Yes ☐ No ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by an of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12,13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐

APPLICABLE ONLY TO CORPORATE ISSUERS

There is no public trading market for the shares of Common Stock of Global Leaders Corp. As a result, the aggregate market value of the common units held by non-affiliates of Global Leaders Corp. cannot be determined.

As of September 5, 2025, there were 154,394,750 shares of Common Stock, $0.0001 par value per share, outstanding.

**GLOBAL LEADERS CORP.**

**QUARTERLY**

**REPORT ON FORM 10-Q FOR THE PERIOD**

**ENDED JULY 31, 2025**

**INDEX**

---

| | | | |
|:---|:---|:---|:---|
| | | | **Page** |
| **[Part I. Financial Information](#a_001)** | **[Part I. Financial Information](#a_001)** | **[Part I. Financial Information](#a_001)** | 4 |
|  | Item 1. | [Financial Statements](#a_002) | 4 |
|  |  | [Condensed Consolidated Balance Sheets as of July 31, 2025 (Unaudited) and October 31, 2024](#a_003) | 4 |
|  |  | [Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - Three and nine months ended July 31, 2025 and 2024](#a_004) | 5 |
|  |  | [Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) – Three and nine months ended July 31, 2025 and 2024](#a_005) | 6 |
|  |  | [Condensed Consolidated Statements of Cash Flows (Unaudited) - Nine months ended July 31, 2025 and 2024](#a_006) | 7 |
|  |  | [Notes to Condensed Consolidated Financial Statements (Unaudited) - Three and nine months ended July 31, 2025 and 2024](#a_007) | 8 |
|  | Item 2. | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a_008) | 12 |
|  | Item 3. | [Quantitative and Qualitative Disclosures About Market Risk](#a_009) | 14 |
|  | Item 4. | [Controls and Procedures](#a_010) | 14 |
| **[Part II. Other Information](#a_012)** | **[Part II. Other Information](#a_012)** | **[Part II. Other Information](#a_012)** | 15 |
|  | Item 1. | [Legal Proceedings](#a_013) | 15 |
|  | Item 1A. | [Risk Factors](#a_014) | 15 |
|  | Item 2. | [Unregistered Sales of Equity Securities and Use of Proceeds](#a_015) | 15 |
|  | Item 3. | [Defaults Upon Senior Securities](#a_016) | 15 |
|  | Item 4. | [Mine Safety Disclosures](#a_017) | 15 |
|  | Item 5. | [Other Information](#a_018) | 15 |
|  | Item 6. | [Exhibits](#a_019) | 16 |
| **[Signatures](#a_020)** | **[Signatures](#a_020)** | **[Signatures](#a_020)** | 17 |

---

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q of Global Leaders Corp., a Nevada corporation (the "Company"), contains "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditure as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results.

Our management has included projections and estimates in this Form 10-Q, which are based primarily on management's experience in the industry, assessments of our results of operations, discussions, and negotiations with third parties and a review of information filed by our competitors with the SEC or otherwise publicly available. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

**PART I. FINANCIAL INFORMATION**

**ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.**

**GLOBAL LEADERS CORP.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**AS OF JULY 31, 2025 AND OCTOBER 31, 2024**

**(Expressed in U.S. Dollars)**

---

| | | |
|:---|:---|:---|
|  | **July 31,**<br> **2025** | **October 31,**<br> **2024** |
|  | **(Unaudited)** |  |
| **ASSETS** |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $151 | $570 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 2558 | 2970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total currents assets | 2709 | 3540 |
| **TOTAL ASSETS** | $2709 | $3540 |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Due to officer/principal shareholder | $144613 | $94556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 144613 | 94556 |
| **Commitments and Contingencies** |  |  |
| **STOCKHOLDERS' DEFICIT** |  |  |
| Preferred stock, $0.0001 par value; 200,000,000 shares authorized; no shares issued and outstanding on July 31, 2025 and October 31, 2024 |  |  |
| Common Stock, $0.0001 par value, 600,000,000 shares authorized; 154,394,750 shares issued and outstanding on July 31, 2025 and October 31, 2024 | 15439 | 15439 |
| Additional paid in capital | 1424320 | 1424320 |
| Accumulated other comprehensive income | 3332 | 3332 |
| Accumulated deficit | (1584995) | (1534107) |
| Total stockholders' deficit | (141904) | (91016) |
| **TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT** | $2709 | $3540 |

---

See accompanying notes to the condensed consolidated financial statements.

**GLOBAL LEADERS CORP.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS**

**FOR THE THREE AND NINE MONTHS ENDED JULY 31, 2025 AND 2024**

**(Expressed in U.S. Dollars)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**<br> **July 31,**  | **Three months ended**<br> **July 31,**  | **Nine months ended**<br> **July 31,**  | **Nine months ended**<br> **July 31,**  |
|  | **2025** | **2024** | **2025** | **2024** |
| **Revenues** | $- | $26340 | $2567 | $39130 |
| **Operating costs and expenses:** |  |  |  |  |
| Cost of service revenues |  | 16706 |  | 16706 |
| General and administrative-related party | 5734 | 9553 | 17315 | 24062 |
| General and administrative-other | 2166 | 20784 | 36140 | 49055 |
| &nbsp;&nbsp;&nbsp;Total operating costs and expenses | 7900 | 47043 | 53455 | 89823 |
| **Net loss and comprehensive loss** | $(7900) | $(20703) | $(50888) | $(50693) |
| Basic and diluted net loss per share | $(0.00) | $(0.00) | $(0.00) | $(0.00) |
| Weighted average number of shares outstanding | 154394750 | 154394750 | 154394750 | 154394750 |

---

See accompanying notes to the condensed consolidated financial statements.

**GLOBAL LEADERS CORP.**

**CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT** 

**FOR THE THREE AND NINE MONTHS ENDED JULY 31, 2025 AND 2024**

**(Expressed in U.S. Dollars)**

**Three months ended July 31, 2025 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | |
|  | **Number** | **Amount** | **Additional**<br> **Paid-in**<br>**Capital** | **Accumulated**<br> **Other**<br> **Comprehensive**<br>**Income** | **Accumulated**<br>**Deficit** | **Total**<br> **Stockholders'**<br>**Deficit** |
| Balance, April 30, 2025 (Unaudited) | 154394750 | $15439 | $1424320 | $3332 | $(1577095) | $(134004) |
| Net loss | - | - | - | - | (7900) | (7900) |
| Balance, July 31, 2025 (Unaudited) | 154394750 | $15439 | $1424320 | $3332 | $(1584995) | $(141904) |

---

**Nine months ended July 31, 2025 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | |
|  | **Number** | **Amount** | **Additional**<br> **Paid-in**<br>**Capital** | **Accumulated**<br> **Other**<br> **Comprehensive**<br>**Income** | **Accumulated**<br>**Deficit** | **Total**<br> **Stockholders'**<br>**Deficit** |
| Balance, October 31, 2024 | 154394750 | $15439 | $1424320 | $3332 | $(1534107) | $(91016) |
| Net loss | - | - | - | - | (50888) | (50888) |
| Balance, July 31, 2025 (Unaudited) | 154394750 | $15439 | $1424320 | $3332 | $(1584995) | $(141904) |

---

**Three months ended July 31, 2024 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | |
|  | **Number** | **Amount** | **Additional**<br> **Paid-in**<br>**Capital** | **Accumulated <br> Other <br> Comprehensive**<br>**Income** | **Accumulated**<br>**Deficit** | **Total**<br> **Stockholders'**<br>**Deficit** |
| Balance, April 30, 2024 (Unaudited) | 154394750 | $15439 | $1424320 | $3332 | $(1501984) | $(58893) |
| Net loss | - | - | - | - | (20703) | (20703) |
| Balance, July 31, 2024 (Unaudited) | 154394750 | $15439 | $1424320 | $3332 | $(1522687) | $(79596) |

---

**Nine months ended July 31, 2024 (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | | |
|  | **Number** | **Amount** | **Additional**<br> **Paid-in**<br>**Capital** | **Accumulated <br> Other <br> Comprehensive**<br>**Income** | **Accumulated**<br>**Deficit** | **Total**<br> **Stockholders'**<br>**Deficit** |
| Balance, October 31, 2023 | 154394750 | $15439 | $1424320 | $3332 | $(1471994) | $(28903) |
| Net loss | - | - | - | - | (50693) | (50693) |
| Balance, July 31, 2024 (Unaudited) | 154394750 | $15439 | $1424320 | $3332 | $(1522687) | $(79596) |

---

See accompanying notes to the condensed consolidated financial statements.

**GLOBAL LEADERS CORP.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE NINE MONTHS ENDED JULY 31, 2025 AND 2024**

**(Expressed in U.S. Dollars)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Nine months ended July 31,** | **Nine months ended July 31,** |
|  | **2025** | **2024** |
| **Cash Flows From Operating Activities** |  |  |
| Net loss | $(50888) | $(50693) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| Change in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 412 | (1929) |
| &nbsp;&nbsp;&nbsp;Prepaid expense to related party |  | (5) |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | - | (10000) |
| Net cash used in operating activities | (50476) | (62627) |
| **Cash Flows From Financing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Advances from officer/principal shareholder | 50057 | 65132 |
| Net cash provided by financing activities | 50057 | 65132 |
| Net (decrease) increase in cash | (419) | 2505 |
| Cash at the beginning of period | 570 | 1874 |
| Cash at the end of period | $151 | $4379 |
| Supplementary Cash Flow Information |  |  |
| Cash paid for: |  |  |
| Interest | $- | $- |
| Income taxes | - | - |

---

See accompanying notes to the condensed consolidated financial statements.

**GLOBAL LEADERS CORP.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**FOR THE THREE AND NINE MONTHS ENDED JULY 31, 2025 AND 2024**

**(Expressed in U.S. Dollars)**

**(Unaudited)**

**NOTE 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

**Description of business**

Global Leaders Corporation, a Nevada corporation (the "Company"), was incorporated in the State of Nevada on July 20, 2020.

The Company is principally engaged in providing consultancy and training services to management executives of small and medium enterprises (SMEs) and startup companies in the Asia-Pacific Region.

**Going concern**

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. In accordance with Accounting Standards Codification ("ASC") 205-40, *Going Concern*, the Company's management has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the accompanying financial statements were issued. For the nine months ended July 31, 2025, the Company recorded a net loss of $50,888 and used cash in operations of $50,476. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern within one year of the date that these financial statements are issued. The accompanying financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. In addition, our independent registered public accounting firm has included an explanatory paragraph in their report with respect to this uncertainty that accompanies our audited consolidated financial statements as of and for the year ended October 31, 2024.

As of July 31, 2025, the Company's cash balance was $151. Management estimates that the current funds on hand will not be sufficient to continue operations through the next twelve months. The Company's ability to continue as a going concern is dependent upon the Company's ability to implement its business plans and continue receiving financial support from its officers and shareholders. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company can obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

**Basis of presentation** 

The accompanying condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP").

The unaudited condensed financial statements of the Company for the three and nine months ended July 31, 2025, and 2024 have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP") for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-K for scaled disclosures for smaller reporting companies. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. However, such information reflects all the adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of the management, necessary for the fair presentation of the Company's financial position and results of operations. Results shown for interim periods are not necessarily indicative of the results obtained for the full fiscal year. The balance sheet information as of October 31, 2024, was derived from the audited financial statements included in the Company's financial statements as of and for the years ended October 31, 2024, and 2023 contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission. These financial statements should be read in conjunction with that report.

The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Global Leaders Corporation, a company incorporated in Anguilla ("GLC Anguilla"). Intercompany accounts and transactions have been eliminated in consolidation.

**Use of estimates**

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates for the accrual of potential liabilities.

**Revenue recognition**

The Company recognizes revenue following the five-step model prescribed by Accounting Standards Codification (ASC) 606, "Revenue from Contracts"*,* which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

The Company's revenue consists of revenue from delivering consultancy and training services. Revenue is recognized in the period in which the services are delivered, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The Company offers no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against service revenue.

The Company's cost of revenue consists of rental of instructional facilities directly attributable to training courses rendered.

**Cash**

Cash consists of funds on hand and held in bank accounts. Cash equivalents include demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities of three months or less, including money market funds. The Company had no cash equivalents as of July 31, 2025, and October 31, 2024.

---

| | | |
|:---|:---|:---|
|  | As of <br> July 31, 2025 | As of <br> October 31, 2024 |
|  | (Unaudited) |  |
| <u>Cash</u> |  |  |
| Denominated in United States Dollars | $3 | $195 |
| Denominated in Hong Kong Dollars | 148 | 375 |
| &nbsp;&nbsp;&nbsp;Cash | $151 | $570 |

---

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of July 31, 2025, substantially all the Company's cash was held by a major financial institution located in Hong Kong, which management believes is of high credit quality. On July 31, 2025, none of the Company's cash accounts are insured by the U.S. Federal Deposit Insurance Corporation (the "FDIC").

**Fair value measurements**

The Company follows the guidance of ASC 820-10, "Fair Value Measurements and Disclosures", with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the input used in measuring fair value as follows:

*Level 1 :* Observable inputs such as quoted prices in active markets;

*Level 2 :* Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

*Level 3 :* Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions

The Company believes the carrying amount reported in the balance sheet for cash, prepaid expenses and due to an officer/principal shareholder, approximate their fair values because of the short-term nature of these financial instruments.

**Foreign currency translation**

The reporting currency of the Company is the United States Dollars ("US$") and the accompanying condensed consolidated financial statements have been expressed in US$. In addition, the Company's operating subsidiary maintains its books and records in its functional currency, Hong Kong Dollars ("HK$").

In general, for consolidation purposes, assets and liabilities of the Company's subsidiaries whose functional currency is not US$, are translated into US$ using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the reporting period. The gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component of accumulated other comprehensive income or loss within stockholders' equity or deficit.

Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods:

---

| | | |
|:---|:---|:---|
|  | As of and for the nine months <br> ended July 31, | As of and for the nine months <br> ended July 31, |
|  | 2025 | 2024 |
| Period-end HK$ : US$1 exchange rate | 7.85 | 7.81 |
| Period-average HK$ : US$1 exchange rate | 7.80 | 7.82 |

---

**Net income or loss per share**

The Company calculates net income or loss per share in accordance with ASC Topic 260, "Earnings per Share." Basic net income or loss per share is computed by dividing the net income or loss by the weighted-average number of common shares outstanding during the period. Diluted net income or loss per share is computed like basic net income or loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of July 31, 2025, the Company has no potentially dilutive securities, such as options or warrants, outstanding.

**Segment information**

The Company's Chief Executive Officer and President ("CEO") is our chief operating decision maker ("CODM") and evaluates performance and makes operating decisions about allocating resources based on financial data presented on a consolidated basis. Because our CODM evaluates financial performance on a consolidated basis, the Company has determined that it operates as a single reportable segment composed of the consolidated financial results of Global Leaders Corp. (see Note 3).

**Concentrations**

For the three and nine months ended July 31, 2025, no revenue was recorded and one customer accounted for 100% of the Company's revenue, respectively.

For the three and nine months ended July 31, 2024, no customer accounted for 10% or more of the Company's revenue and two customers accounted for 32% (16% each) of the Company's revenue, respectively.

For the three and nine months ended July 31, 2025, no cost of revenues was incurred, while for the three and nine months ended July 31, 2024, one vendor accounted for 100% of the Company's cost of service revenues.

For the three and nine months ended July 31, 2025, one vendor accounted for 73% and two vendors accounted for 84% (52% and 32%) of the Company's operating expenses, respectively.

For the three months and nine months ended July 31, 2024, two vendors accounted for 82% (50% and 32%) and three vendors accounted for 86% (40%, 33% and 13%) of the Company's operating expenses, respectively.

**Recent accounting pronouncements**

In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2024-03 Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses. The guidance in ASU 2024-03 requires public business entities to disclose in the notes to the financial statements, among other things, specific information about certain costs and expenses including purchases of inventory; employee compensation; and depreciation, amortization and depletion expenses for each caption on the income statement where such expenses are included. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted, and the amendments may be applied prospectively to reporting periods after the effective date or retrospectively to all periods presented in the financial statements. The Company is currently evaluating the provisions of this guidance and assessing the potential impact on the Company's financial statement disclosures.

Other recent accounting guidance issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.

**NOTE 2 - RELATED PARTY TRANSACTIONS** 

Mr. Yip Hoi Hing Peter, our Chief Executive Officer, Chief Financial Officer, and Director, and his spouse control 68.23% of the Company's restricted Common Stock, including 38.86% collectively owned by two companies owned by Mr. Yip, CS Global Consultancy Limited ("CS Global") and CSG Group Holdings Limited.

As of October 31, 2024, the balance due to Mr. Yip for advances to the Company for supporting its operations was $94,556. During the nine months ended July 31, 2025, Mr. Yip further advanced $50,057 to the Company, and as of July 31, 2025, the balance due to Mr. Yip was $144,613. The advances are due on demand, are unsecured and are non-interest bearing.

Greenpro Capital Corp., through its wholly owned subsidiaries (collectively "Greenpro"), is currently a 5.83% shareholder of the Company. In addition, three executives of Greenpro are currently 10.36% shareholders of the Company.

For the three and nine months ended July 31, 2025, the Company incurred accounting fees to Greenpro of $5,734 and $17,315, respectively, while the Company incurred service fees to Greenpro of $9,553 including accounting fees of $5,757 and company secretarial fees of $3,796 and $24,062 including accounting fees of $20,266 and company secretarial fees of $3,796 for the three and nine months ended July 31, 2024, respectively.

**NOTE 3 - SEGMENT INFORMATION**

The Company operates and manages its business as one reportable and operating segment dedicated to delivering consultancy and training services of Global Leaders Corp. The measure of segment assets is reported on the balance sheet as total consolidated assets. In addition, the Company manages the business activities on a consolidated basis.

The Company's CODM reviews financial information presented on a consolidated basis and decides how to allocate resources based on net income (loss). Consolidated net income (loss) is used for evaluating financial performance.

Significant segment expenses include cost of service revenues, accounting-related party, company secretarial-related party, filing fees, and external professional fees. Operating expenses include all the remaining costs necessary to operate our business, which primarily include external professional services and other administrative expenses. The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**<br> **July 31,**  | **Three months ended**<br> **July 31,**  | **Nine months ended**<br> **July 31,**  | **Nine months ended**<br> **July 31,**  |
|  | **2025** | **2024** | **2025** | **2024** |
| **Revenues** | $- | $26340 | $2567 | $39130 |
| **Less:** |  |  |  |  |
| Cost of service revenues |  | 16706 |  | 16706 |
| Accounting-related party | 5734 | 5757 | 17315 | 20266 |
| Company secretarial-related party |  | 3796 |  | 3796 |
| Professional fees |  | 15250 | 27645 | 39143 |
| Operating expenses | 2166 | 5534 | 8495 | 9912 |
| **Net loss** | $(7900) | $(20703) | $(50888) | $(50693) |

---

**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.**

The following information should be read in conjunction with (i) the financial statements of Global Leaders Corp., a Nevada corporation, and the notes thereto appearing elsewhere in this Form 10-Q together with (ii) the more detailed business information and the October 31, 2024 audited financial statements and related notes included in the Company's most recent Annual Report on Form 10-K for the year ended October 31, 2024 filed with the SEC on January 24, 2025. Statements in this section and elsewhere in this Form 10-Q that are not statements of historical or current fact constitute "forward-looking" statements.

**OVERVIEW**

Global Leaders Corp. (the "Company" or "we") was incorporated in the State of Nevada on July 20, 2020 and has a fiscal year end of October 31.

**CRITICAL ACCOUNTING POLICIES AND ESTIMATES**

**USE OF ESTIMATES**

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates for the accruals of potential liabilities.

**REVENUE RECOGNITION**

The Company recognizes revenues when its customer obtains control of promised services, in an amount that reflects the consideration the Company expects to receive in exchange for those services. The Company recognizes revenue following the five-step model prescribed by Accounting Standards Codification (ASC) 606, "Revenue from Contracts"*,* which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the services it transfers to its clients.

**RECENT ACCOUNTING PRONOUNCEMENTS**

Refer to Note 1 in the accompanying condensed consolidated financial statements.

**PLAN OF OPERATION**

Our planned operations may be hindered by factors beyond our control, such as general market conditions, our ability to attract qualified employees, government policies relevant to our industry, our ability to maintain our existing competitive advantages and new market entrants.

Our anticipated future growth will likely place significant demand on our management and operational efficiency. Our success in managing our growth will depend, to a significant degree, on our ability to attract new clients and retain existing clients and launch new services to increase our revenue. In addition, we will adapt our existing services to changing industry and user conditions, and expand, train, and manage our employees. The market in which we operate is highly dynamic and may not develop as expected. If we are unable to manage our operations properly and prudently as we continue to grow in this evolving market, or if the quality of our services deteriorates due to mismanagement, our brand name and reputation could be severely harmed, which would materially and adversely affect our business, financial condition, and results of operations.

**Results of Operations**

Three Months Ended July 31, 2025, and 2024

We recorded $0 and $26,340 of revenues for the three months ended July 31, 2025, and 2024, respectively.

For the three months ended July 31, 2025, no cost of revenues was incurred, while for the three months ended July 31, 2024, cost of service revenues of $16,706 was incurred.

For the three months ended July 31, 2025, and 2024, general and administrative expenses were $7,900 and $30,337 and included $5,734 and $9,553 of general and administrative expenses to a related party for the three months ended July 31, 2025, and 2024, respectively.

Nine Months Ended July 31, 2025, and 2024

We recorded $2,567 and $39,130 of revenues for the nine months ended July 31, 2025, and 2024, respectively.

For the nine months ended July 31, 2025, no cost of revenues was incurred, while for the nine months ended July 31, 2024, cost of service revenues of $16,706 was incurred.

For the nine months ended July 31, 2025, and 2024, general and administrative expenses were $53,455 and $73,117 and included $17,315 and $24,062 of general and administrative expenses to a related party for the nine months ended July 31, 2025, and 2024, respectively.

**Liquidity and Capital Resources**

**GOING CONCERN**

For the nine months ended July 31, 2025, the Company incurred a net loss of $50,888 and used cash in operating activities of $50,476 and on July 31, 2025, the Company had a stockholders' deficit of $141,904. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern within one year of the date that these financial statements are issued. In addition, the Company's independent registered public accounting firm, in its report on the Company's October 31, 2024 financial statements, raised substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

On July 31, 2025, our cash balance was $151. Management estimates that the current funds on hand will not be sufficient to continue operations through the next twelve months. The Company's ability to continue as a going concern is dependent upon the Company's ability to implement its business plans and continue receiving financial support from its officers and shareholders. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company can obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing.

**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.**

As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 3.

**ITEM 4. CONTROLS AND PROCEDURES.**

**DISCLOSURE CONTROLS AND PROCEDURES**

**<u>Evaluation of Disclosure Controls and Procedures:</u>**

We conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of July 31, 2025. This evaluation was carried out by Mr. Yip Hoi Hing Peter, our Chief Executive Officer and Chief Financial Officer, who also serves as our principal executive officer and principal financial and accounting officer, respectively. Based upon that evaluation, Mr. Yip concluded that, as of July 31, 2025, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Management has identified the following material weaknesses which have caused management to conclude that, as of July 31, 2025, our disclosure controls and procedures were not effective: Inadequate segregation of duties consistent with control objectives.

**<u>Changes in Internal Control over Financial Reporting:</u>**

There were no changes in our internal control over financial reporting during the quarter ended July 31, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

**PART II. OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS.**

The Company is not currently subject to any legal proceedings. From time to time, the Company may become subject to litigation or proceedings in connection with its business, as either a plaintiff or defendant. There are no such pending legal proceedings to which the Company is a party that, in the opinion of management, is likely to have a material adverse effect on the Company's business, financial condition or results of operations.

**ITEM 1A. RISK FACTORS.**

As a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by this Item 1A.

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.**

None.

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES.**

None.

**ITEM 4. MINE SAFETY DISCLOSURES.**

None.

**ITEM 5. OTHER INFORMATION.**

None.

**ITEM 6. EXHIBITS.**

(a) Exhibits required by Item 601 of Regulation SK.

---

| | |
|:---|:---|
| **Number** | **Description** |
| 3.1 | [Articles of Incorporation (1)](https://www.sec.gov/Archives/edgar/data/1830696/000159991620000156/articles_31.htm) |
| 3.2 | [Bylaws (1)](https://www.sec.gov/Archives/edgar/data/1830696/000159991620000156/ex32.htm) |
| 17.1 | [Departure of Director and Appointment of Officer dated June 4, 2021 (2)](https://www.sec.gov/Archives/edgar/data/1830696/000149315221013571/form8-k.htm) |
| 17.2 | [Departure of Director and Appointment of Officer dated June 22, 2021 (3)](https://www.sec.gov/Archives/edgar/data/1830696/000149315221015052/form8-k.htm) |
| 17.3 | [Departure of Director and Appointment of Officer dated September 23, 2021 (4)](https://www.sec.gov/Archives/edgar/data/1830696/000149315221023528/form8-k.htm) |
| 31.1 | [Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\*](ex31-1.htm) |
| 32.1 | [Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\*](ex32-1.htm) |
| 101.INS\*\* | Inline XBRL Instance Document |
| 101.SCH\*\* | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL\*\* | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF\*\* | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB\*\* | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE\*\* | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Filed herewith.

(1) Previously
 filed and incorporated by reference to the Company's Registration Statement on Form S-1, as amended (File No. 333-251324),
 as filed with the Securities and Exchange Commission on December 14, 2020.

(2) Previously
 filed as an exhibit to the Company's Current Report on Form 8-K filed with SEC on June 4, 2021.

(3) Previously
 filed as an exhibit to the Company's Current Report on Form 8-K filed with SEC on June 23, 2021.

(4) Previously
 filed as an exhibit to the Company's Current Report on Form 8-K filed with SEC on September 24, 2021.

\*\* XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

**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, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **GLOBAL LEADERS CORP.** | **GLOBAL LEADERS CORP.** |
|  | (Name of Registrant) | (Name of Registrant) |
| Date: September 5, 2025 | By: | */s/ **Yip Hoi Hing Peter*** |
|  | Name: | Yip Hoi Hing Peter |
|  | Title: | Chief Executive Officer and Chief Financial Officer<br> (Principal Executive Officer and Principal Financial and Accounting Officer) |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**SECTION 302 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER OF GLOBAL LEADERS CORP.**

I, Yip Hoi Hing Peter, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Global Leaders Corp.;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: September 5, 2025 | By: | */s/ Yip Hoi Hing Peter* |
|  |  | Yip Hoi Hing Peter |
|  |  | Chief Executive Officer and Chief Financial Officer |
|  |  | (Principal Executive Officer and Principal Financial and Accounting Officer) |

---

## Exhibit 32.1

**EXHIBIT 32.1**

**SECTION 906 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND** 

**PRINCIPAL FINANCIAL OFFICER OF GLOBAL LEADERS CORP.**

In connection with the accompanying Quarterly Report on Form 10-Q of Global Leaders Corp. for the quarter ended July 31, 2025, the undersigned, Yip Hoi Hing Peter, Chief Executive Officer, Chief Financial Officer and Chairman of Board of Directors of Global Leaders Corp., does hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) such
 Quarterly Report on Form 10-Q for the quarter ended July 31, 2025 fully complies with the requirements of Section 13(a) or 15(d)
 of the Securities Exchange Act of 1934, as amended; and

(2) the
 information contained in such Quarterly Report on Form 10-Q for the quarter ended July 31, 2025 fairly presents, in all material
 respects, the financial condition and results of operations of Global Leaders Corp.

---

| | | |
|:---|:---|:---|
| Date: September 5, 2025 | By: | */s/ Yip Hoi Hing Peter* |
|  |  | Yip Hoi Hing Peter |
|  |  | Chief Executive Officer and Chief Financial Officer |
|  |  | (Principal Executive Officer and Chief Financial and Accounting Officer) |

---