10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

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

For the fiscal year ended November 30, 2013

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

For the transition period from _________ to _________

Commission File Number: 000-52044

GALA GLOBAL INC.

(Name of Small Business Issuer in its charter)

Nevada	42-1771014
(state or other jurisdiction of incorporation or organization)	(I.R.S. Employer I.D. No.)

2780 South Jones Blvd. #3725

Las Vegas, Nevada 89146

(Address of principal executive offices)

(775) 321-8238

Issuer’s telephone number

Securities registered under Section 12(b) of the Exchange Act: None

Securities registered under Section 12(g) of the Exchange Act: Common Stock, $0.001 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 o    No þ

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

Indicate by check mark whether the registrant (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 þ    Noo 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) 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 to this Form 10-K. o 

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 definition of “large accelerated filer and “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (Check one):

Large accelerated filer o             Accelerated filer o         Non-accelerated filer o        Smaller reporting company þ

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

Aggregate market value of the voting and non-voting stock of the registrant held by non-affiliates of the registrant as of the last business day of the registrant’s most recently completed second fiscal quarter:  $8,424,500

As of April 14, 2014 the registrant’s outstanding stock consisted of 5,907,000 common shares.

GALA GLOBAL INC.

Table of Contents

PART I
Item 1.     Description of Business	3
Item 1A.  Risk Factors	4
Item 1B.  Unresolved Staff Comments	4
Item 2.     Description of Property	4
Item 3.     Legal Proceedings	4
Item 4.     Mine Safety Disclosures	4
PART II
Item 5.     Market for Common Equity, Related Stockholder Matters and Small Business Issuer Purchases of Equity Securities	5
Item 6.     Selected Financial Data	6
Item 7.     Management’s Discussion and Analysis of Financial Condition and Results of Operation	6
Item 7A.  Quantitative and Qualitative Disclosures About Market Risk	9
Item 8.     Financial Statements and Supplementary Data	10
Item 9.    Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	11
Item 9A.  Controls and Procedures	11
Item 9B.  Other Information	11
PART III
Item 10.   Directors, Executive Officers and Corporate Governance	12
Item 11.   Executive Compensation	13
Item 12.   Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	15
Item 13.   Certain Relationships, Related Transactions and Director Independence	15
Item 14.    Principal Accountant Fees and Services	16
Item 15.    Exhibits and Financial Statement Schedules	17
Signatures	17

2               

PART I

Item 1.  Description of Business

General

Gala Global Inc. (“the Company”, “we”, ”us” or “our”) was incorporated in the State of Nevada on March 15, 2010 (Inception).  We intend to expand business operations by distributing all-natural everyday custom tailored women's clothing products from England as well as making customer specified alterations for both men and women.  At this stage, we have engaged in the development of our website and business plan as well as exploring different sourcing alternatives of fabric and materials needed to produce our custom designed apparel.  Currently we are not profitable; therefore, we cannot forecast with certainty that our growth initiatives will generate profits.  

We are planning on selling our tailoring clothing and offering tailoring services at our Tailoring Studio which we plan to setup in London.  In the studio we will obtain measurements and perform the required tailoring.  The majority of our business will be marketed and distributed in the United Kingdom.  We are in the process of developing our website www.galaglobalinc.com that will give our clients the ability to read more about our tailoring capabilities and ideas for new custom designs.  As the website becomes fully operational, our consumers will be able to contact us directly through our website for quotes, alteration and measurement appointments.  

Trademark

We do not have a trademark registered at this time.  At present, we have not established a valuable brand which requires protection.  We may register a trademark in the next 12 months when we feel that our brand is able beginning to gain value and recognition.  

Government Regulation

To comply with U.K. laws, in order to do business in the U.K., since we are a Nevada corporation, we will have to register as an overseas company at the Companies House in Britain within one month from the beginning of trade.  Companies House is the United Kingdom Registrar of Companies.  All forms of companies are incorporated and registered with Companies House as required by the current Companies Act 2006.  All registered limited companies, including subsidiary, small and inactive companies, must file annual financial statements, in addition to annual company returns, which are all public records.  All forms of companies as permitted by United Kingdom Companies Act are incorporated and registered with Companies House.  We are not required to be registered as an overseas company in London until we start to execute business transactions with our U.K. customers and start to earn revenue.

We do not believe that government regulations will have a material impact on the way we conduct business.

  3             

Research and Development

We have not spent any amounts on research and development activities during the years ended November 30, 2013 or 2012.  We anticipate that we will not incur any expenses on research and development over the next 12 months.  Our planned expenditures on our operations or a business combination are summarized under the section of this annual report entitled “Management’s Discussion and Analysis of Financial Position and Results of Operations”.

Employees and Employment Agreements

At present, we have no employees other than our sole officer and director who devotes approximately 7-10 hours a week to our business.  We presently do not have pension, health, annuity, insurance, stock options, profit sharing or similar benefit plans; however, we may adopt such plans in the future.  There are presently no personal benefits available to any officers, directors or employees.

Item 1A.  Risk Factors

Not applicable to smaller reporting companies.

Item 1A.  Unresolved Staff Comments

 Not applicable to smaller reporting companies.

Item 2.  Description of Property

We do not currently own any property or real estate of any kind.  Our business offices are located at 2780 South Jones Blvd. #3725, Las Vegas, Nevada 89146.

Item 3.  Legal Proceedings

We are currently unaware of any legal matters pending or threatened against us.

Item 4.  Mine Safety Disclosures

Not applicable.

4               

PART II

Item 5.  Market for Common Equity, Related Stockholder Matters and Small Business Issuer Purchases of Equity Securities

Market Information

Our shares of common stock are listed on the Over the Counter Bulletin Board under the symbol GALA.  Set forth below are high and low bid prices for our common stock for each quarterly period in the two most recent fiscal years.  Such quotations reflect inter-dealer prices, without retail mark-up, markdown or commissions and may not necessarily represent actual transactions in the common stock.  

Period	High	Low
Fiscal 2013
First Quarter ended February 28, 2013	$3.50	$3,50
Second Quarter ended May 31, 2013	$3.50	$3.50
Third Quarter ended August 31, 2013	$3.50	$3.50
Fourth Quarter ended November 30, 2013	$3.50	$3.50
Fiscal 2012
First Quarter ended February 28, 2012	No bids	No bids
Second Quarter ended May 31, 2012	$3.50	$3.50
Third Quarter ended August 31, 2012	$3.50	$3.50
Fourth Quarter ended November 30, 2012	$3.50	$3.50

Number of Holders

As of November 30, 2013, the 5,907,000 issued and outstanding shares of common stock were held by a total of 30 shareholders of record.

Dividends

No cash dividends were paid on our shares of common stock during the fiscal years ended November 30, 2013 and 2012.  We have not paid any cash dividends since our inception and do not foresee declaring any dividends on our common stock in the foreseeable future.

Recent Sales of Unregistered Securities

None.

Purchase of our Equity Securities by Officers and Directors

None.

Other Stockholder Matters

None.

 5              

Item 6.  Selected Financial Data

Not applicable to smaller reporting companies.

Item 7.  Management's Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis in conjunction with our financial statements, including the notes thereto, included in this Report.  Some of the information contained in this Report may contain forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended (the “Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  This information may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements.  Forward-looking statements which involve assumptions and describe our future plans, strategies and expectations, are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project” or the negative of these words or other variations on these words or comparable terminology.  These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that the projections included in these forward-looking statements will come to pass.  Our actual results could differ materially from those expressed or implied by the forward looking statements as a result of various factors.  We undertake no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

Our auditors’ reports contain a statement that our net loss and limited working capital raise substantial doubt about our ability to continue as a going concern.  Our independent registered public accountants have stated in their report, included in Item 8.  Financial Statements that our significant operating losses and working capital deficit raise substantial doubt about our ability to continue as a going concern.  We incurred net losses of $35,990 and $52,140 from continuing operations, respectively, for the fiscal years ended November 30, 2013 and November 30, 2012.  We will be required to raise substantial capital to fund our capital expenditures, working capital, and other cash requirements since our current cash assets are exhausted and revenues are not yet sufficient to sustain our operations.  We will need to seek other financing to complete our business plans.  The successful outcome of future financing activities cannot be determined at this time and there are no assurances that, if achieved, we will have sufficient funds to execute our intended business plan or generate positive operational results.

In addition to our current deficit, we expect to incur additional losses during the foreseeable future.  Until we are able to locate and acquire a target business, we will not be profitable.  Consequently, we will require substantial additional capital to continue our development and marketing activities.  There is no assurance that we will be able to obtain additional financing through private placements and/or public offerings necessary to support our working capital requirements.  To the extent that funds generated from any private placements and/or public offerings are insufficient, we will have to raise additional working capital through other sources, such as bank loans and/or financings.  No assurance can be given that additional financing will be available, or if available, will be on acceptable terms.

We are incurring increased costs as a result of being a publicly-traded company.  As a public company, we incur significant legal, accounting and other expenses that we did not incur as a private company.  In addition, the Sarbanes-Oxley Act of 2002, as well as new rules subsequently implemented by the Securities and Exchange Commission, have required changes in corporate governance practices of public companies.  These new rules and regulations have increased our legal and financial compliance costs and have made some activities more time-consuming and costly.  For example, as a result of becoming a public company, we have created additional board committees and have adopted policies regarding internal controls and disclosure controls and procedures.  In addition, we have incurred additional costs associated with our public company reporting requirements.  In addition, these new rules and regulations have made it more difficult and more expensive for us to obtain director and officer liability insurance, which we currently cannot afford to do.  As a result of the new rules, it may become more difficult for us to attract and retain qualified persons to serve on our Board of Directors or as executive officers.  We cannot predict or estimate the amount of additional costs we may incur as a result of being a public company or the timing of such costs.

  6             

RESULTS OF OPERATIONS

Working Capital

	November 30, 2013 $	November 30, 2012 $
Current Assets	104	24,904
Current Liabilities	37,200	26,485
Working Capital (Deficit)	(37,096)	(1,581)

Cash Flows

	Year ended November 30, 2013 $	Year ended November 30, 2012 $
Cash Flows from (used in) Operating Activities	(24,800)	(25,283)
Cash Flows from (used in) Investing Activities	-	-
Cash Flows from (used in) Financing Activities	6,724	47,000
Net Increase (decrease) in Cash During Period	(24,800)	21,717

Operating Revenues

From March 15, 2010 (date of inception) to November 30, 2013, the Company did not record any revenues.

Operating Expenses

Operating expenses for the year ended November 30, 2013 was $35,990 compared with $52,140 for the year ended November 30, 2012. The decrease in operating expenditures was attributed to limited cash flows that affected the ability for the Company to incur operating expenditures relating to general and administrative costs, including office expenses and professional fees.    

Net Loss

Net loss for the year ended November 30, 2013 was $35,990 compared with $52,140 for the year ended November 30, 2012 due to the factors discussed above.

Liquidity and Capital Resources

As at November 30, 2013, the Company had cash and total assets of $104 compared with cash of $24,904 and total assets of $25,379 as at November 30, 2012.  The decrease in cash and total assets was due to the use of cash for operating activities during fiscal 2013 as the Company did not raise any new proceeds from financing activities, as well as amortization of the remaining net book value of property and equipment.   

As at November 30, 2013, the Company had total liabilities of $37,200 compared with total liabilities of $26,485 as at November 30, 2012.  The increase in total liabilities were attributed to an increase of $3,991 in accounts payable and accrued liabilities due to the Company’s lack of sufficient cash flows to repay outstanding obligations as they become due, and an increase $6,724 in amounts due to related parties which related to unpaid management fees that were accrued during the year.  

As at November 30, 2013, the Company had a working capital deficit of $37,096 compared with a working capital deficit of $1,581 as at November 30, 2012.  The increase in working capital deficit was attributed to the fact that the Company had insufficient cash flow to pay outstanding obligations as they became due and relied on existing cash balances to support ongoing operational cash needs.      

 7              

Cashflow from Operating Activities

During the year ended November 30, 2013, the Company used $24,800 of cash for operating activities compared to the use of $25,283 of cash for operating activities during the year ended November 30, 2012. The decrease in cash used for operating activities was due to limited cash flows as the Company had no new financing and used existing cash to repay outstanding obligations as they became due.    

Cashflow from Investing Activities

During the years ended November 30, 2013 and 2012, the Company did not have any cash transactions related to investing activities.

Cashflow from Financing Activities

During the year ended November 30, 2013, the balance due to related parties increased by $6,724 which related to unpaid management fees that were accrued during the year did not have any transactions relating to financing activities. By comparison, during the twelve months ended November 30, 2012 the balance dues to related parties increased by $21,474 and we received proceeds of $47,000 related to thesale of common shares.   

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.

Future Financings

We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund planned acquisitions and activities.

 8              

Critical Accounting Policies

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in note (1) of the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes for the reporting period. Significant areas requiring the use of management estimates relate to the valuation of its mineral leases and claims and our ability to obtain final government permission to complete the project.

Stock-Based Compensation

The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued.

Recently Issued Accounting Pronouncements

The Company has reviewed all the recently issued, but not yet effective, accounting pronouncements and does not believe that the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations as reported in its financial statements.

Contractual Obligations

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 7A.  Quantitative and Qualitative Disclosures about Market Risk

Not applicable to smaller reporting companies.

  9             

Item 8.  Financial Statements

GALA GLOBAL INC.

(A Development Stage Company)

Financial Statements

For the Years Ended November 30, 2013 and November 30, 2012

And

The Period from March 15, 2010 (Inception) to November 30, 2013

Report of Independent Registered Public Accounting Firm	F-1
Report of Independent Registered Public Accounting Firm	F-2
Balance Sheets	F-3
Statement of Operations	F-4
Statements of Cash Flows	F-5
Statements of Changes in Stockholder’s Equity (Deficit)	F-6
Notes to the Financial Statements	F-7

  10            

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors

Gala Global, Inc.

Las Vegas, Nevada, 89146

We have audited the accompanying balance sheet of Gala Global, Inc. as of November 30, 2013 and the related statement of operations, changes in stockholders' deficit and cash flows for the year 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 audit. The financial statements as of November 30, 2012 and for the year ended November 30, 2012 and the period from March 15, 2010 (inception) through November 30, 2012 were audited by another auditor who expressed an unqualified opinion on March 8, 2013. Our opinion, in so far as it relates to the period from March 15, 2010 (inception) through November 30, 2012, is based solely on the report of the other auditor.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Gala Global, Inc. as of November 30, 2013, and the results of its operations, changes in stockholders’ deficit and cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

 The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements the Company has suffered losses and negative cash flow from operations which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. 

Arvada, Colorado
April 14, 2014	Cutler & Co., LLC

 F-1          

RONALD R. CHADWICK, P.C.

Certified Public Accountant

2851 South Parker Road, Suite 720

Aurora, Colorado  80014

Telephone (303)306-1967

Fax (303)306-1944

  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors

Gala Global Inc.

Las Vegas, Nevada

I have audited the accompanying balance sheet of Gala Global Inc. (a development stage company) as of November 30, 2012 and the related statements of operations, stockholders' equity and cash flows for the year ended November 30, 2012, and for the period from March 15, 2010 (inception) through November 30, 2012. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audit.

I conducted my audit in accordance with the standards of the Public Company Accounting Oversight Board (United States).Those standards require that I 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 amounts 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.  I believe that my audit provides a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Gala Global Inc. as of November 30, 2012 and the results of its operations and its cash flows for the year ended November 30, 2012, and for the period from March 15, 2010 (inception) through November 30, 2012 in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements the Company has suffered a loss from operations and has limited working capital that raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Ronald R. Chadwick, P.C.
RONALD R. CHADWICK, P.C.
Aurora, Colorado

March 8, 2013                                                                                                                        

 F-2            

GALA GLOBAL INC.

(A Development Stage Company)

Balance Sheets

	November 30, 2013 $	November 30,  2012  $
ASSETS
Current Assets
Cash	104	24,904
Total Current Assets	104	24,904
Property and equipment, net	–	475
Total Assets	104	25,379
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	8,902	4,911
Due to related parties	28,298	21,574
Total Current Liabilities	37,200	26,485
Total Liabilities	37,200	26,485
STOCKHOLDERS’ DEFICIT
Common Stock Authorized: 75,000,000 common shares with a par value of $0.001 per share
Issued and outstanding: 5,907,000 common shares	5,907	5,907
Additional Paid-In Capital	65,193	65,193
Deficit accumulated during the exploration stage	(108,196)	(72,206)
Total Stockholders’ Deficit	(37,096)	(1,106)
Total Liabilities and Stockholders’ Deficit	104	25,379

(The accompanying notes are an integral part of these financial statements)

 F-3            

GALA GLOBAL INC.

(A Development Stage Company)

Statements of Operations

	For the Year Ended November 30, 2013 $	For the Year Ended November 30, 2012 $	Accumulated from March 15, 2010 (Date of Inception) to November 30, 2013 $
Revenues	-	–	-
Operating Expenses
Depreciation	475	472	1,420
Director Fees – related party	11,000	21,474	32,474
General and administrative	24,515	30,194	74,302
Total Operating Expenses	35,990	52,140	108,196
Operating Loss	(35,990)	(52,140)	(108,196)
Provision for income taxes	–	–	–
Net Loss	(35,990)	(52,140)	(108,196)
Net Loss per Share – Basic and Diluted	0.00*	0.00*
Weighted Average Shares Outstanding – Basic and Diluted	5,907,000	5,907,000

 * denotes a loss of less than $(0.01) per share.

(The accompanying notes are an integral part of these financial statements)

  F-4           

GALA GLOBAL INC.

(A Development Stage Company)

Statements of Changes in Stockholders’ Equity (Deficit)

From March 15, 2010 (date of inception) to November 30, 2013

	Common Stock		Additional	Accumulated
	Shares	Par Value	Paid-In Capital	Deficit	Total
	#	$	$	$	$
Balance – March 15, 2010 (date of inception)	–	–	–	–	–
Issuance of shares for cash	5,860,000	5,860	18,240	–	24,100
Net loss for the period	–	–	–	(621)	(621)
	–	–
Balance – November 30, 2010	5,860,000	5,860	18,240	(621)	23,479
Net loss for the year	–	–	–	(19,445)	(19,445)
	–	–
Balance – November 30, 2011	5,860,000	5,860	18,240	(20,066)	4,034
Issuance of shares for cash	47,000	47	46,953	–	47,000
Net loss for the year	–	–	–	(52,140)	(52,140)
	–	–
Balance – November 30, 2012	5,907,000	5,907	65,193	(72,206)	(1,106)
Net loss for the year	–	–	–	(35,990)	(35,990)
Balance – November 30, 2013	5,907,000	5,907	65,193	(108,196)	(37,096)

(The accompanying notes are an integral part of these financial statements)

 F-5            

GALA GLOBAL INC.

(A Development Stage Company)

Statements of Cash Flows

	For the Year Ended  November 30, 2013 $	For the Year Ended  November 30, 2012 $	Accumulated from March 15, 2010 (Date of Inception) to November 30, 2013 $
Operating Activities
Net loss	(35,990)	(52,140)	(108,196)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	475	472	1,420
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	3,991	4,911	8,902
Director fees due to related party	6,724	21,474	28,298
Net Cash Used In Operating Activities	(24,800)	(25,283)	(69,576)
Investing Activities
Purchase of property and equipment	–	–	(1,420)
Net Cash Used In Investing Activities	–	–	(1,420)
Financing Activities
Proceeds from sale of shares	–	47,000	71,100
Net Cash Provided By Financing Activities	0	47,000	71,100
Increase (Decrease) in Cash	(24,800)	21,717	104
Cash – Beginning of Period	24,904	3,187	–
Cash – End of Period	104	24,904	104
Supplemental Disclosures
Interest paid	$          –	$         –	$         –
Income tax paid	$          –	$         –	$         –
		–

(The accompanying notes are an integral part of these financial statements)

   F-6          

GALA GLOBAL INC.

(A Development Stage Company)

Notes to the Financial Statements

1.

Organization and Nature of Operations

Gala Global Inc. (the “Company”) was incorporated in the State of Nevada on March 15, 2010 (Inception). The Company was formed to provide garment tailoring and alteration services. The Company has conducted only limited operations and is in the development stage as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities.

Going Concern

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at November 30, 2013, the Company has not earned revenue, has a working capital deficit of $37,096, and an accumulated deficit of $108,196. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company’s future operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
 

2.

Summary of Significant Accounting Policies

a)

Basis of Presentation

The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars. The Company’s fiscal year end is November 30.

b)

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

c)

Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As of November 30, 2013 and 2012, there were no cash equivalents.

 F-7            

GALA GLOBAL INC.

(A Development Stage Company)

Notes to the Financial Statements

2.

Summary of Significant Accounting Policies (continued)

d)

Long-Lived Assets

In accordance with ASC 360, “Property Plant and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.

e)

Basic and Diluted Net Loss per Share

The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. During the twelve months ended November 30, 2013 and 2012, the Company has no potentially dilutive debt or equity instruments issued or outstanding..  

f)

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

g)

Comprehensive Loss

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. During the twelve months ended November 30, 203 and 2012 our net loss was identical to our comprehensive loss.

h)

Revenue Recognition

The Company recognizes revenue from online advertising.  Revenue will be recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured.  The Company is not exposed to any credit risks as amounts are prepaid prior to performance of services.  

  F-8           

GALA GLOBAL INC.

(A Development Stage Company)

Notes to the Financial Statements

2.

Summary of Significant Accounting Policies (continued)

i)

Financial Instruments

Pursuant to ASC 820, Fair Value Measurements and Disclosures, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, and amounts due to related party. Pursuant to ASC 820, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

j)

Stock-based Compensation

The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued.  As at November 30, 2013 and 2012, the Company had not grant any stock options.  

k)

Recent Accounting Pronouncements

The Company has reviewed all the recently issued, but not yet effective, accounting pronouncements and does not believe that the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations as reported in its financial statements.

l)

Reclassifications

Certain reclassifications have been made to the 2012 and March 15, 2010 (inception) to November 30, 2012 financial statements to conform to the 2013 presentation 

m)

Advertising costs

Advertising costs are expensed as incurred. The Company recorded no advertising costs for during the twelve months ended November 30, 2013 or 2012.

3.

Related Party Transactions

At November 30, 2013, the Company owed $28,298 (2012 - $21,574) to the President and Director of the Company for services provided to the Company. The amounts owing are unsecured, non-interest bearing, and due on demand.

4.

Income Taxes

The Company has $108,196 of net operating losses carried forward to offset taxable income in future years which expire commencing in fiscal 2030.  The income tax benefit differs from the amount computed by applying the US federal income tax rate of 34% to net loss before income taxes. As at November 30, 2013, the Company had no uncertain tax positions.  

	November 30, 2013 $	November 30, 2012 $
Net loss before taxes	(35,990)	(52,140)
Statutory rate	34%	34%
Computed expected tax recovery	12,237	17,728
Valuation allowance	(12,237)	(17,728)
Income tax provision	–	–

5.

Subsequent Events

The Company has evaluated subsequent events from November 30, 2013 through the date the financial statements were available to be issued and has determined that there have been no subsequent events after November 30, 2013 for which disclosure is required.

.

  F-9         

Item 9.  Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

On November 30, 2014, Ronald R. Chadwick, P.C., Certified Public Accountant (“Chadwick”) resigned as Gala Global Inc.’s  (the “Company”) independent registered public accounting firm.  There were no disagreements with Chadwick on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Chadwick, would have caused Chadwick to make reference to the subject matter of the disagreement in its review of the Company’s consolidated financial statements for the fiscal years ended November 30, 2012 and 2011.

On March 4, 2014, upon the authorization and approval of the board of directors, the Company engaged Cutler & Co., LLC (“Cutler”) as its independent registered public accounting firm.

There were no disagreements with Chadwick or Cutler in respect of accounting and financial disclosure.

Item 9A.  Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Company management, including our chief executive officer and chief financial officer, have evaluated our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as of the end of the period covered by this Form 10-K. Based on that evaluation, our chief executive officer and chief financial officer have concluded that our disclosure controls and procedures are effective to ensure that the information we are required to disclose in reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time period specified in Securities and Exchange Commission rules and forms. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including cost limitations, the possibility of human error, judgments and assumptions regarding the likelihood of future events, and the circumvention or overriding of the controls and procedures.  Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives.

Changes in Internal Controls over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 or 15d-15 promulgated under the Exchange Act that occurred during the last fiscal quarter of the fiscal year ended November 30, 2012 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.  Management is aware that there is a lack of segregation of duties at our company due to the limited number of employees dealing with general administrative and financial matters.  At this time management believes that, given the individuals involved and the control procedures in place, the risks associated with such lack of segregation are insignificant, and that the potential benefits of adding additional employees to segregate duties more clearly do not justify the associated added expense.  Management will continue to evaluate this segregation of duties.  In addition, management is aware that many of our currently existing internal controls are undocumented.  Our management will be working to document such internal controls over the coming year.

Item 9B.  Other Information.

None.

 11             

PART III

Item 10.  Directors, Executive Officers, Promoters and Control Persons; Compliance With Section 16(a) of the Exchange Act

Directors, Executive Officers and Key Employees

The following table sets forth certain information regarding our directors, executive officers and key employees as of November 30, 2012 and as of the date of the filing of this report:

Name and Address

Age

Position(s) Held

Robert Walter Frei

65

President, CEO, Secretary, Treasurer,

Principal Executive Officer and

Chairman of the Board of Directors

Background of Directors and Executive Officers

Robert Walter Frei has been the President, CEO, Secretary, Treasurer, CFO and a Director of our company since October 19, 2012.  From 1982 until present, Mr. Frei owns and operates his own dental practice in Zurich, Switzerland.  Mr. Frei devotes approximately 7-10 hours a week to our business.

Term of Office of Directors

Our directors are appointed for a one-year term to hold office until the next annual general meeting of our stockholders or until removed from office in accordance with our bylaws.  Our officers are appointed by our Board of Directors and hold office until the officer dies or resigns or the Board elects a successor or removes the officer.

Key Employees

None.

Family Relationships

None.

Involvement in Certain Legal Proceedings

None.

Audit Committee Financial Expert

No determination has been made as to whether any member of the audit committee qualified as an audit committee financial expert as defined in Item 401 of Regulation S-K.

  12           

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires our directors and executive officers, and persons who beneficially own more than 10% of a registered class of our equity securities, to file reports of beneficial ownership and changes in the beneficial ownership of our securities with the SEC of Forms 3 (Initial Statement of Beneficial Ownership), 4 (Statement of Changes of Beneficial Ownership of Securities) and 5 (Annual Statement of Beneficial Ownership of Securities). Directors, executive officers and beneficial owners of more than 10% of our Common Stock are required by SEC regulations to furnish us with copies of all Section 16(a) forms that they file.  Based on a review of the SEC’s website, we believe that, with respect to our most recent fiscal year, all directors, executive officers and greater than 10% beneficial owners complied with all Section 16(a) filing requirements applicable to them.

Code of Ethics

We have adopted an informal Code of Ethics that applies to our officers, directors, which we feel is sufficient at this time, given we are still in the start-up, development stage and have no employees, other than our officers and directors.

Item 11.  Executive Compensation.

We have one executive officer, who is currently our only employee.  We pay our director Robert Walter Frei monthly compensation of $1,000.  The following summary compensation table sets forth information concerning compensation for services rendered in all capacities during 2013 and 2012 awarded to, earned by or paid to our executive officers.

SUMMARY COMPENSATION TABLE

Name and Principal Position	Year	Salary	Bonus	Stock	Option	Non-Equity	Change in Pension	All Other	Total
(a)	(b)	($)	($)	Awards	Awards	Incentive	Value Nonqualified	Compensation	($)
		(c)	(d)	($)	($)	Plan	Deferred	($)	(j)
				(e)	(f)	Compensation	Compensation	(i)
						($)	Earnings
						(g)	($)
							(h)
Robert Walter Frei, President, CEO, Secretary, Treasurer, CFO and Principal Executive Officer	2013	11,000	0	0	0	0	0	0	11,000
	2012	21,474	0	0	0	0	0	0	21,474

 13             

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END TABLE

Name and Principal Position(s) (a)	OPTION AWARDS					STOCK AWARDS
	Number of Securities Underlying Unexercised Options (#) (Exercisable) (b)	Number of Securities Underlying Unexercised Options (#) (Unexercisable) (c)	Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) (d)	Option Exercise Price ($) (e)	Option Expiration Date (f)	Number of Shares or Units of Stock That Have Not Vested (#) (g)	Market Value of Shares or Units of Stock That Have Not Vested ($) (h)	Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i)	Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) (j)
Robert Walter Frei, President, CEO, Treasurer, CFO and Principal Executive Officer	0	0	0	0	0	0	0	0	0

Option Grants

No options were granted during the fiscal year ended November 30, 2012.  We have no outstanding warrants or stock options.

Director Compensation

None.

Employment Agreements

None.

Report on Repricing of Options

None.

  14            

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

The following table provides certain information regarding the ownership of our common stock, as of November 30, 2012 and as of the date of the filing of this annual report by:

• each of our executive officers;

• each director;

• each person known to us to own more than 5% of our outstanding common stock; and

• all of our executive officers and directors and as a group.

As of November 30, 2013, we had a total of 5,860,000 shares of common stock issued and outstanding.  Except as indicated in footnotes to this table, the persons named in this table have sole voting and investment power with respect to all shares of common stock indicated below.  Except where noted, the address of all listed beneficial owners is in care of our office address.

Name and Address of   Beneficial Owner	Title of Class	Amount and   Nature of Beneficial   Ownership (1) (#)	Percent of   Class (2)   (%)
Robert Walter Frei, President, CEO, Secretary, Treasurer, CFO and Principal Executive Officer	Common Shares	0	0
All Officers and Directors as a Group	Common Shares	0	0
IDG Ventures Ltd.	Common Shares	3,500,000	59.7

Changes in Control

None.

Item 13.  Certain Relationships, Related Transactions and Director Independence

At November 30, 2013, there is a total of $28,298 advanced by an officer for costs; however, there is no specific repayment term.

We do not currently have any other related party transactions and have not yet formulated a policy for the resolution of any related transaction conflicts, should they arise.

15              

Director Independence

The OTC Bulletin Board does not have a requirement that a majority of our Board of Directors be independent.  However, with respect to the definition of independence utilized by NASDAQ, our officers and directors would be deemed to be independent.

Our Audit Committee is comprised of our officers and directors.  NASDAQ requires at least three members on the Audit Committee, each of whom must be independent.  NASDAQ also requires that, if its Chief Executive Officer’s compensation is determined by its Compensation Committee, the Compensation Committee must be comprised solely of independent directors.  The Company currently does not meet either of these requirements.

The NASDAQ rules have both objective tests and a subjective test for determining who is an “independent director.”  The objective tests state, for example, that a director is not considered independent if he or she is an employee of the Company or is a partner, executive officer or controlling stockholder of an entity to which the company made, or from which the Company received, payments in the current or any of the past three fiscal years that exceed the greater of $200,000 or 5% of the recipient’s consolidated gross revenue for that year or a family member serves in the current fiscal year or has served at any time during the last three fiscal years as an executive officer of the Company. The subjective test states that an independent director must be a person who lacks a relationship that, in the opinion of the Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

Item 14.  Principal Accountant Fees and Services 

The Company paid or accrued the following fees in each of the prior two fiscal years to its independent certified public accountants, Cutler & Co. Certified Public Accountants for the year ended December 31, 2013 and Ronald R. Chadwick, PC for the year ended December 31, 2012:

	For the Year Ended December 31,
	2013	2012
Audit Fees	$7,500	$7,500
Audit-Related Fees	$0	$0
Tax Fees	$0	$0
All Other Fees	$0	$0
Total Fees	$7,500	$7,500

"Audit Fees" consisted of fees billed for services rendered for the audit of the Company’s annual financial  statements and audit related fees are for review of the financial statements included in the Company’s quarterly reports on Form 10-Q.

16              

Item 15. Exhibits 

The financial statement schedules are omitted because they are inapplicable or the requested information is shown in our financial statements or related notes thereto.

Exhibits

Exhibit Number	Exhibit Description
31.1	Certification of the Chief Executive Officer and Chief Financial Officer Pursuant to Rule 13a-14 or 15d-14 of the Exchange Act pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
EX-101.INS	XBRL Instance Document
EX-101.SCH	XBRL Taxonomy Extension Schema
EX-101.CAL	XBRL Taxonomy Extension Calculation Linkbase
EX-101.LAB	XBRL Taxonomy Extension Label Linkbase
EX-101.PRE	XBRL Taxonomy Extension Presentation Linkbase
EX-101.DEF	XBRL Taxonomy Extension Definition Linkbase

SIGNATURES

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

	GALA GLOBAL INC.
	By: /s/ Robert Walter Frei
Date:  April 17, 2014	Robert Walter Frei
	President, Chief Executive Officer
	Chief Financial Officer, Director, Secretary, Treasurer

Pursuant to the requirements of 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.

Signature	Title	Date
/s/ Robert Walter Frei	President, Chief Executive	April 17, 2014
Robert Walter Frei	Officer, Chief Financial Officer, Director, Secretary, Treasurer

         17             

EX-31.1

CERTIFICATION PURSUANT TO
18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Robert Walter Frei, certify that:

1.I have reviewed this Annual Report on Form 10-K of Gala Global Inc.;

2.Based on my knowledge, this 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 report;

3.Based on my knowledge, the financial statements, and other financial information included in this 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 report;

4.I am 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, including its consolidated subsidiaries, 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.I have disclosed, based on my 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: April 17, 2014
/s/ Robert Walter Frei
Robert Walter Frei President, Chief Executive Officer, Chief Financial Officer, Treasurer and Director (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

EX-32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Robert Walter Frei, 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)           the Annual Report on Form 10-K of Gala Global Inc. for the year ended November 30, 2013 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)           the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Gala Global Inc.

Dated:  April 17, 2014

/s/ Robert Walter Frei

Robert Walter Frei

President, Chief Executive Officer,
Chief Financial Officer, Treasurer and Director

(Principal Executive Officer, Principal
Financial Officer and Principal Accounting Officer)

XML

Related Party Transactions

12 Months Ended

Nov. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions

3. Related Party Transactions

At November 30, 2013, the Company owed $28,298 (2012 - $21,574) to the President and Director of the Company for services provided to the Company. The amounts owing are unsecured, non-interest bearing, and due on demand.

XML

Summary Of Significant Accounting Policies

12 Months Ended

Nov. 30, 2013

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

a) Basis of Presentation

The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars. The Company’s fiscal year end is November 30.

b) Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

c) Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As of November 30, 2013 and 2012, there were no cash equivalents.c)

d) Long-Lived Assets

In accordance with ASC 360, “Property Plant and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.

e) Basic and Diluted Net Loss per Share

The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. During the twelve months ended November 30, 2013 and 2012, the Company has no potentially dilutive debt or equity instruments issued or outstanding..  

f) Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

g) Comprehensive Loss

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. During the twelve months ended November 30, 203 and 2012 our net loss was identical to our comprehensive loss.

h) Revenue Recognition

The Company recognizes revenue from online advertising.  Revenue will be recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured.  The Company is not exposed to any credit risks as amounts are prepaid prior to performance of services.

i) Financial Instruments

Pursuant to ASC 820, Fair Value Measurements and Disclosures, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, and amounts due to related party. Pursuant to ASC 820, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

j) Stock-based Compensation

The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued.  As at November 30, 2013 and 2012, the Company had not grant any stock options.
 

k) Recent Accounting Pronouncements

The Company has reviewed all the recently issued, but not yet effective, accounting pronouncements and does not believe that the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations as reported in its financial statements.

l) Reclassifications

Certain reclassifications have been made to the 2012 and March 15, 2010 (inception) to November 30, 2012 financial statements to conform to the 2013 presentation 

m) Advertising costs

Advertising costs are expensed as incurred. The Company recorded no advertising costs for during the twelve months ended November 30, 2013 or 2012.

XML

Balance Sheets (USD $)	Nov. 30, 2013	Nov. 30, 2012
Current Assets
Cash	$ 104	$ 24,904
Total Current Assets	104	24,904
Property and equipment, net		475
Total Assets	104	25,379
Current liabilities
Accounts payable and accrued liabilities	8,902	4,911
Due to related parties	28,298	21,574
Total Current Liabilities	37,200	26,485
Total Liabilities	37,200	26,485
STOCKHOLDERS' DEFICIT
Common Stock Authorized: 75,000,000 common shares with a par value of $0.001 per share Issued and outstanding: 5,907,000 common shares	5,907	5,907
Additional Paid-In Capital	65,193	65,193
Deficit accumulated during the exploration stage	108,196	72,206
Total Stockholders' Deficit	(37,096)	(1,106)
Total Liabilities and Stockholders' Deficit	$ 104	$ 25,379

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Statements of Cash Flows (USD $)	12 Months Ended		45 Months Ended
	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2013
Statement of Cash Flows [Abstract]
Net loss	$ (35,990)	$ (52,140)	$ (108,196)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	475	472	1,420
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	3,991	4,911	8,902
Director fees due to related party	6,724	21,474	28,298
Net Cash Used In Operating Activities	(24,800)	(25,283)	(69,576)
Investing Activities
Purchase of property and equipment			1,420
Net Cash Used In Investing Activities			(1,420)
Financing Activities
Proceeds from sale of shares		47,000	71,100
Net Cash Provided By Financing Activities	0	47,000	71,100
Increase (Decrease) in Cash	(24,800)	21,717	104
Cash - Beginning of Period	24,904	3,187
Cash - End of Period	104	24,904	104
Supplemental Disclosures
Interest paid
Income tax paid

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Organization And Nature Of Operations

12 Months Ended

Nov. 30, 2013

Organization And Nature Of Operations

Organization And Nature Of Operations

1. Organization and Nature of Operations

Gala Global Inc. (the “Company”) was incorporated in the State of Nevada on March 15, 2010 (Inception). The Company was formed to provide garment tailoring and alteration services. The Company has conducted only limited operations and is in the development stage as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities.

Going Concern

These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at November 30, 2013, the Company has not earned revenue, has a working capital deficit of $37,096, and an accumulated deficit of $108,196. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company’s future operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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Balance Sheets (Parenthetical) (USD $)	Nov. 30, 2013	Nov. 30, 2012
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	5,907,000	5,907,000
Common stock, shares outstanding	5,907,000	5,907,000

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Document and Entity Information (USD $)	12 Months Ended
	Nov. 30, 2013	Apr. 14, 2014	May 31, 2013
Document And Entity Information
Entity Registrant Name	Gala Global Inc.
Entity Central Index Key	0001513403
Document Type	10-K
Document Period End Date	Nov. 30, 2013
Amendment Flag	false
Current Fiscal Year End Date	--11-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 8,424,500
Entity Common Stock, Shares Outstanding		5,907,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2013

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Statements of Operations (USD $)	12 Months Ended				45 Months Ended
	Nov. 30, 2013		Nov. 30, 2012		Nov. 30, 2013
Income Statement [Abstract]
Revenues
Operating Expenses
Depreciation	475		472		1,420
Director Fees – related party	11,000		21,474		32,474
General and administrative	24,515		30,194		74,302
Total Operating Expenses	35,990		52,140		108,196
Operating Loss	(35,990)		(52,140)		(108,196)
Provision for income taxes
Net Loss	$ (35,990)		$ (52,140)		$ (108,196)
Net Loss per Share - Basic and Diluted	$ 0.00	[1]	$ 0.00	[1]
Weighted Average Shares Outstanding - Basic and Diluted	5,907,000		5,907,000

[1] a loss of less than $(0.01) per share

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Summary Of Significant Accounting Policies (Policies)

12 Months Ended

Nov. 30, 2013

Accounting Policies [Abstract]

Basis Of Presentation

a) Basis of Presentation

The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars. The Company’s fiscal year end is November 30.

Use Of Estimates

b) Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

Cash And Cash Equivalents

c) Cash and Cash Equivalents

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As of November 30, 2013 and 2012, there were no cash equivalents.

Long-Lived Assets

d) Long-Lived Assets

In accordance with ASC 360, “Property Plant and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.

Basic And Diluted Net Loss Per Share

e) Basic and Diluted Net Loss per Share

The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. During the twelve months ended November 30, 2013 and 2012, the Company has no potentially dilutive debt or equity instruments issued or outstanding.  

Income Taxes

f) Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

Comprehensive Loss

g) Comprehensive Loss

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive loss and its components in the financial statements. During the twelve months ended November 30, 203 and 2012 our net loss was identical to our comprehensive loss.

Revenue Recognition

h) Revenue Recognition

The Company recognizes revenue from online advertising.  Revenue will be recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service has been provided, and collectability is assured.  The Company is not exposed to any credit risks as amounts are prepaid prior to performance of services.

Financial Instruments

i) Financial Instruments

Pursuant to ASC 820, Fair Value Measurements and Disclosures, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, and amounts due to related party. Pursuant to ASC 820, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

Stock - Based Compensation

j) Stock-based Compensation

The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued.  As at November 30, 2013 and 2012, the Company had not grant any stock options.
 

Recent Accounting Pronouncements

k) Recent Accounting Pronouncements

The Company has reviewed all the recently issued, but not yet effective, accounting pronouncements and does not believe that the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations as reported in its financial statements.

Reclassifications

l) Reclassifications

Certain reclassifications have been made to the 2012 and March 15, 2010 (inception) to November 30, 2012 financial statements to conform to the 2013 presentation 

Advertising costs

m) Advertising costs

Advertising costs are expensed as incurred. The Company recorded no advertising costs for during the twelve months ended November 30, 2013 or 2012.

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Subsequent Events

12 Months Ended

Nov. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

5. Subsequent Events

The Company has evaluated subsequent events from November 30, 2013 through the date the financial statements were available to be issued and has determined that there have been no subsequent events after November 30, 2013 for which disclosure is required.

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Related Party Transactions (Narrative) (Details) (USD $)	12 Months Ended
	Nov. 30, 2013	Nov. 30, 2012
Due to related parties for services	$ 28,298	$ 21,574
President And Director
Due to related parties for services	$ 28,298	$ 21,574
Due to related parties terms	The amounts owing are unsecured, non-interest bearing, and due on demand.	The amounts owing are unsecured, non-interest bearing, and due on demand.

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Income Taxes (Tables)

12 Months Ended

Nov. 30, 2013

Income Taxes Tables

Schedule Of Income Tax Provision

As at November 30, 2013, the Company had no uncertain tax positions.  

	November 30,			November 30,
	2013			2012
Net loss before taxes	$	(35,990	)	$	(52,140	)
Statutory rate		34	%		34	%
Computed expected tax recovery		12,237			17,728
Valuation allowance		(12,237	)		(17,728	)
Income tax provision		—			—

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Income Taxes (Details) (USD $)	9 Months Ended	12 Months Ended			45 Months Ended
	Nov. 30, 2010	Nov. 30, 2013	Nov. 30, 2012	Nov. 30, 2011	Nov. 30, 2013
Income Taxes Details
Net loss before taxes	$ (621)	$ (35,990)	$ (52,140)	$ (19,445)	$ (108,196)
Statutory rate		34.00%	34.00%
Computed expected tax recovery		12,237	17,728		12,237
Valuation allowance		(12,237)	(17,728)		(12,237)
Income tax provision

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Income Taxes (Narrative) (Details)	12 Months Ended
	Nov. 30, 2013
Income Taxes
Operating loss expiration	2030

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Statements Of Changes In Stockholders’ Equity (Deficit) (USD $)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance, amount at Mar. 14, 2010
Balance, shares at Mar. 14, 2010
Stock issued for cash, share	5,860,000
Stock issued for cash, value	5,860	18,240		24,100
Net income			(621)	(621)
Balance, amount at Nov. 30, 2010	5,860	18,240	(621)	23,479
Balance, shares at Nov. 30, 2010	5,860,000
Net income			(19,445)	(19,445)
Balance, amount at Nov. 30, 2011	5,860	18,240	(20,066)	4,034
Balance, shares at Nov. 30, 2011	5,860,000
Stock issued for cash, share	47,000
Stock issued for cash, value	47	46,953		47,000
Net income			(52,140)	(52,140)
Balance, amount at Nov. 30, 2012	5,907	65,193	(72,206)	(1,106)
Balance, shares at Nov. 30, 2012	5,907,000			5,907,000
Net income			(35,990)	(35,990)
Balance, amount at Nov. 30, 2013	$ 5,907	$ 65,193	$ (108,196)	$ (37,096)
Balance, shares at Nov. 30, 2013	5,907,000			5,907,000

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Income Taxes

12 Months Ended

Nov. 30, 2013

Income Taxes

Income Taxes

4. Income Taxes

The Company has $108,196 of net operating losses carried forward to offset taxable income in future years which expire commencing in fiscal 2030.  The income tax benefit differs from the amount computed by applying the US federal income tax rate of 34% to net loss before income taxes. As at November 30, 2013, the Company had no uncertain tax positions.  

	November 30,			November 30,
	2013			2012
Net loss before taxes	$	(35,990	)	$	(52,140	)
Statutory rate		34	%		34	%
Computed expected tax recovery		12,237			17,728
Valuation allowance		(12,237	)		(17,728	)
Income tax provision		—			—