10-Q

U.S. 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 March 31, 2019

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

Commission File No. 333-177157

Global Seed Corporation

(Exact name of registrant as specified in its charter)

Texas	27-3028235
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

3905, Vanke ITC Center, Changan, Dongguan, China 523845

(Address of principal executive offices)

(852) 65533834

(Issuer’s telephone number)

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the 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, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth 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 checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act: None.

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Not Applicable	GLBD	*

* OTC Markets, not an exchange.

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the most practicable date: 5,000,000 as of May 2, 2019.

Global Seed Corporation
Form 10-Q Report Index

	Page No:
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements	1
Condensed Balance Sheets (Unaudited) as of March 31, 2019 and June 30, 2018	1
Condensed Statements of Operations (unaudited) for the Three and Nine Months ended March 31, 2019 and 2018	2
Condensed Statement of Stockholders’ Equity (Deficit) for the Nine Months ended March 31, 2019 (unaudited)	3
Condensed Statements of Cash Flows (unaudited) for the Nine Months ended March 31, 2019 and 2018	4
Notes to Condensed Financial Statements (unaudited)	5-7
Item 2. Management Discussion and Analysis of Financial Condition	8
Item 3. Quantitative and Qualitative Disclosures about Market Risk	9
Item 4. Control and Procedures	9
PART II. OTHER INFORMATION
Item 6. Exhibit	10
Signature	11

i

Global Seed Corporation

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

Condensed Balance Sheets

	March 31, 2019 (Unaudited)			June 30, 2018
ASSETS
Current Assets
Cash & Cash Equivalents	$	0		$	132
Total Assets	$	0		$	132
LIABILITIES & STOCKHOLDER’S DEFICIT
Due to Related Party		18,981			0
Accrued Expense		383			0
Total Current Liabilities	$	19,364			0
STOCKHOLDER’S DEFICIT
Preferred Stock 9,989,886,988 shares par Value $0.0001; -0- issued and outstanding		0			0
Common Stock 8,999,886,999 shares authorized: $0.0001 par value; 5,000,000 shares issued and outstanding as of March 31, 2018 and June 30, 2018		500			500
Additional Paid-in Capital		80,746			80,001
Accumulated Deficit		(100,610	)		(80,369	)
Total Stockholder’s Deficit		(19,364	)		132
TOTAL LIABILITIES AND STOCKHOLDER’S DEFICIT	$	0		$	132

The accompanying notes are an integral part of these unaudited financial statements

1

Condensed Statements of Operations (Unaudited)

	Three Months Ended March 31, 2019			Three Months Ended March 31, 2018			Nine Months Ended March 31, 2019			Nine Months Ended March 31, 2018
Revenue	$	-		$	-		$	-		$	-
OPERATING EXPENSES:
General and Administrative Expenses		7,618			2,690			19,496			9,392
Total Operating Expenses		(7,618	)		(2,690	)		(19,496	)		(9,392	)
Loss from Operations	$	(7,618	)	$	(2,690	)	$	(19,496	)		(9,392	)
OTHER EXPENSE:
Interest Expense		422			0			745			0
Total Other Expense		422			0			745			0
Net Loss	$	(8,040	)	$	(2,690	)	$	(20,241	)	$	(9,392	)
LOSS PER COMMON SHARES-BASIC AND DILUTED	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING BASIC AND DILUTED		5,000,000			5,000,000			5,000,000			5,000,000

The accompanying notes are an integral part of these unaudited financial statements

2

Condensed Statement of Changes in Stockholders’ Equity (Deficit)

for the Nine Months Ended March 31, 2019 (Unaudited)

	Common Stock				Additional Paid In		Accumulated
	Shares		Amount		Capital		Deficit			Total
Balance on June 30, 2018		5,000,000		500		80,001		(80,369	)		(132	)
Imputed Interest						745					745
Net Loss								(20,241	)		(20,241	)
Balance on March 31, 2019		5,000,000		500		80,746		(100,610	)		(19,364	)

The accompanying notes are an integral part of these unaudited financial statements

3

Condensed Statements of Cash Flows (Unaudited)

	Nine Months Ended March 31, 2019			Nine Months Ended March 31, 2018
Cash Flows from Operating Activities:
Net Loss	$	(20,241	)	$	(9,392	)
Adjustments to reconciled net loss to net cash used by operating activities
Imputed interest		745			1,829
Change in operating assets and liabilities:
Accrued Expenses		383
Net Cash used by Operating Activities		(19,113	)		(7,563	)
Cash Flow from Financing Activities:
Advances from Related Party		18,981			7.550
Net Cash provided by Financing Activities		18,981			7,550
Net Decrease of Cash:		(132	)		(13	)
Cash at Beginning of Period:		132			243
Cash at End of Period:	$	-		$	230
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

The accompanying notes are an integral part of these unaudited financial statements

4

GLOBAL SEED CORPORATION

Notes to Interim Condensed Financial Statement

March 31, 2019 (unaudited)

NOTE 1 – BUSINESS AND CONTINUED OPERATIONS

ORGANIZATION

Global Seed Corporation (the “Company”) was incorporated on July 13, 2010 in the State of Texas. A substantial portion of the Company’s initial business activities had involved developing a business plan and establishing contacts and visibility in the Asian communities in Houston, Texas. The Company had a change in control on June 2, 2018.

The fiscal year end of the Company is June 30.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

The accompanying interim financial statements and related notes as of and for the three and nine months ended March 31, 2019 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for the financial information, and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the fiscal year presented.

The Company assumes that the users of the interim financial information herein have read, or have access to, the audited financial statements for the preceding period, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context.

USE OF ESTIMATES

The preparation of the Company’s financial statements in conformity with U.S. 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 amount of revenues and expenses during the reporting period.

CASH EQUIVALENTS

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

FAIR VALUE MEASUREMENTS

The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents, deposits, prepaid expenses, notes payable, and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:

* Level 1 - quoted prices in active markets for Identical assets or liabilities

* Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable

* Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

5

INCOME TAXES

The Company utilizes FASB ASC 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is recorded when in the opinion of management, it is “more likely-than-not” that a deferred tax asset will not be realized.

The Company generated a deferred tax credit through net operating loss carryforward. However, a valuation allowance of 100% has been established. Interest and penalties on tax deficiencies recognized in accordance with ASC accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

BASIC AND DILUTED NET LOSS PER SHARE

Net loss per share is calculated in accordance with ASC 260, Earnings Per Share, for the period presented. Basic net loss per share is based upon the weighted average number of common shares outstanding. Diluted net loss per share is based on the assumption that all dilative convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

As of March 31, 2019, the Company had no potentially dilutive securities.

INTANGIBLE ASSETS

When an intangible is purchased from another entity, its value equals the cash or fair market value of the consideration given. The present value of payments on the liability incurred or the fair value of the stock issued may also be used to value externally acquired intangible.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In May, 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers ( Topic 606): Narrow-Scope Improvements and Practical Expedients. The amendments in this Update affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers ( Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in this Update are the same s the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, Revenue from Contracts with Customers ( Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year.

In March, 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation ( Topic 718): Improvements to Employee Share-Based Payment Accounting. For public business entities, the amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. For all other entities, the amendments re effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual periods. If an entity early adopts the amendments in an interim period, any adjustment should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period.

6

NOTE 3 – GOING CONCERN

The Company’s financial statements are prepared using U.S. GAAP applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company had an accumulated deficit of $100,610 since inception through the period ended March 31, 2019. Management’s plans to continue as a going concern include raising additional capital through sales of common stock. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described above and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE 4 – COMMITMENTS AND CONTINGENCIES

The Company does not have any commitments or contingencies. There were no legal proceedings against the Company with respect to matters arising in the ordinary course of business. Neither the Company nor any of its officers or directors is involved in any other litigation either as plaintiffs or defendants, and have no knowledge of any threatened or pending litigation against them or any of the officers or directors.

NOTE 5 – RELATED PARTY TRANSACTIONS

At March 31, 2019, $18,981 was due to a related party. The Company imputed interest of $745 and $1,829 during the nine months ended March 31, 2019 and 2018. The balances of amount to related party was $18,981 and $0 as of March 31, 2019 and June 30, 2018, respectively.

NOTE 6 – CAPITAL STOCK

No stock was issued in the nine months ended March 31, 2019 and 2018. During the year ended June 30, 2018, $26,700 was forgiven resulting in an increase in additional paid in capital of the same amount.

NOTE 7 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through May 14, 2019. Based on its evaluation no events have occurred requiring adjustment or disclosure.

7

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

This section of the prospectus includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place an undue certainty on these forward-looking statements, which apply only as of the date of this prospectus; these forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

PLAN OF OPERATIONS

Global Seed Corporation was incorporated in the State of Texas on July 13, 2010. We had been engaged principally in the distribution of a monthly journal prior to our change in control consummated on June 2, 2018. On May 21, 2018, Leung Kwok Hei, Chi Siu On, Leung Siu Hung and Chan Hiu (collectively, the “Purchasers”) entered into a Share Purchase Agreement (the “Purchase Agreement”) with various holders (the “Sellers”) of the common stock of the Company. Pursuant to the terms of the Purchase Agreement, the Sellers transferred to the Purchasers certain of their shares of common stock of the Company, par value $0.0001 per share (“Common Stock”), or an aggregate of 4,492,000 shares of Common Stock (such transaction, the “Share Purchase”). The Share Purchase was closed on June 1, 2018.

After the change in control as a result of the Share Purchase, we expect to effect a business combination. Accordingly, the prospects for our success will be dependent upon the future performance of the business to be acquired. A target business may be dependent upon the development or market acceptance of a single or limited number of products, processes or services, in which case there will be an even higher risk that the target business will not prove to be commercially viable.

RESULTS OF OPERATIONS

The Company had a net loss of $20,241 and $9,392 for the nine months ended March 31, 2019 and 2018 respectively. The Company had net losses of $8,040 and $2,690 during the three months ended March 31, 2019 and 2018, respectively. Management’s plans to continue as a going concern include raising additional capital through sales of common stock.

LIQUIDITY AND CAPITAL RESOURCES

For the nine months ended March 31, 2019, we had a net loss of $20,241 from our business operations.

As of March 31, 2019, our total assets were $0 in cash and our total liabilities were $19,364.

The working capital requirements of any new business we may acquire may be substantial and may depend on the terms of our potential acquisitions, whether for stock, debt or cash, or a combination thereof, as appropriate.

OFF-BALANCE SHEET ARRANGEMENTS

The Company has no material transactions, arrangements, obligations or other relationships with entities or other persons that have or are reasonably likely to have a material current or future impact on its financial condition, changes in financial condition, results of operations, liquidity, capital expenditures, capital resources, or significant components of revenues or expenses.

8

ITEM 3. QUALITATIVE DISCLOSURES ABOUT MARKET RISK

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

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are not effective.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Securities Exchange Act of 1934) during the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

9

PART II - OTHER INFORMATION

ITEM 6. EXHIBITS

Exhibit 31.1	Certificate of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 31.2	Certificate of Principal Financial and Accounting Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 32.1	Certification of Principal Executive Officer and Principal Financial and Accounting Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension Labels Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase

10

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 Seed Corporation

/s/ Leung Kwok Hei

By: Leung Kwok Hei

Chief Executive Officer

(Principal Executive Officer)

/s/ Chan Hiu

By: Chan Hiu

Chief Financial Officer

(Principal Financial Officer and
Principal Accounting Officer)

May 14, 2019

11

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

RULES 13A-14(A) AND 15D-14(A) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

I, Leung Kwok Hei, certify that:

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

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. The registrant’s other certifying officer 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, 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. The registrant’s other certifying officer 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: May 14, 2019

/s/ Leung Kwok Hei

Leung Kwok Hei

Chief Executive Officer

(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO
RULES 13A-14(A) AND 15D-14(A) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

I, Chan Hiu, certify that:

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

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. The registrant’s other certifying officer 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, 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. The registrant’s other certifying officer 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: May 14, 2019

/s/ Chan Hiu

Chan Hiu

Acting Chief Financial Officer

(Principal Financial Officer and
Principal Accounting Officer)

EX-32.1

Exhibit 32.1

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

In connection with the Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 (the “Report”) of Global Seed Corporation (the “Company”) as filed with the Securities and Exchange Commission on the date hereof, we, Leung Kwok Hei, Chief Executive Officer, and Chan Hiu, Chief Financial Officer, 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 Report fully complies with the requirements of Section 13(a) 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 the Company.

/s/ Leung Kwok Hei

Leung Kwok Hei

Chief Executive Officer

(Principal Executive Officer)

/s/ Chan Hiu

Chan Hiu

Acting Chief Financial Officer
(Principal Financial Officer and
Principal Accounting Officer)

Date: May 14, 2019

XML

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2019	May 02, 2019
Document and Entity Information
Entity Registrant Name	Global Seed Corp
Entity Central Index Key	0001524829
Trading Symbol	GLBD
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		5,000,000

XML

Condensed Balance Sheets - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Current Assets
Cash & Cash Equivalents	$ 0	$ 132
Total Assets	0	132
LIABILITIES & STOCKHOLDER'S DEFICIT
Due to Related Party	18,981	0
Accrued Expense	383	0
Total Current Liabilities	19,364	0
STOCKHOLDER'S DEFICIT
Preferred Stock 9,989,886,988 shares par Value $0.0001; -0- issued and outstanding	0	0
Common Stock 8,999,886,999 shares authorized: $0.0001 par value; 5,000,000 shares issued and outstanding as of March 31, 2018 and June 30, 2018	500	500
Additional Paid-in Capital	80,746	80,001
Accumulated Deficit	(100,610)	(80,369)
Total Stockholder's Deficit	(19,364)	132
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT	$ 0	$ 132

XML

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Jun. 30, 2018
Statement of Financial Position [Abstract]
Preferred Stock, shares authorized	9,989,886,988	9,989,886,988
Preferred Stock, par value	$ 0.0001	$ 0.0001
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, shares authorized	8,999,886,999	8,999,886,999
Common Stock, par value	$ 0.0001	$ 0.0001
Common Stock, shares issued	5,000,000	5,000,000
Common Stock, shares outstanding	5,000,000	5,000,000

XML

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue
OPERATING EXPENSES:
General and Administrative Expenses	7,618	2,690	19,496	9,392
Total Operating Expenses	(7,618)	(2,690)	(19,496)	(9,392)
Loss from Operations	(7,618)	(2,690)	(19,496)	(9,392)
OTHER EXPENSE:
Interest Expense	422	0	745	0
Total Other Expense	422	0	745	0
Net Loss	$ (8,040)	$ (2,690)	$ (20,241)	$ (9,392)
LOSS PER COMMON SHARES-BASIC AND DILUTED	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING BASIC AND DILUTED	5,000,000	5,000,000	5,000,000	5,000,000

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Condensed Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) - 9 months ended Mar. 31, 2019 - USD ($)	Common Stock	Additional Paid In Capital	Accumulated Deficit	Total
Balance at Jun. 30, 2018	$ 500	$ 80,001	$ (80,369)	$ 132
Balance ,shares at Jun. 30, 2018	5,000,000
Imputed Interest		745		745
Net Loss			(20,241)	(20,241)
Balance at Mar. 31, 2019	$ 500	$ 80,746	$ (100,610)	$ (19,364)
Balance ,shares at Mar. 31, 2019	5,000,000

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Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities:
Net Loss	$ (20,241)	$ (9,392)
Adjustments to reconciled net loss to net cash used by operating activities
Imputed interest	745	1,829
Change in operating assets and liabilities:
Accrued Expenses	383
Net Cash used by Operating Activities	(19,113)	(7,563)
Cash Flow from Financing Activities:
Advances from Related Party	18,981	7,550
Net Cash provided by Financing Activities	18,981	7,550
Net Decrease of Cash:	(132)	(13)
Cash at Beginning of Period:	132	243
Cash at End of Period:	0	230
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid
Income taxes paid

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Business and Continued Operations

9 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BUSINESS AND CONTINUED OPERATIONS

NOTE 1 – BUSINESS AND CONTINUED OPERATIONS

ORGANIZATION

Global Seed Corporation (the "Company") was incorporated on July 13, 2010 in the State of Texas. A substantial portion of the Company's initial business activities had involved developing a business plan and establishing contacts and visibility in the Asian communities in Houston, Texas. The Company had a change in control on June 2, 2018.

The fiscal year end of the Company is June 30.

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Summary of Significant Accounting Policies

9 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

The accompanying interim financial statements and related notes as of and for the three and nine months ended March 31, 2019 have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for the financial information, and with the rules and regulations of the United States Securities and Exchange Commission ("SEC"). The interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the fiscal year presented.

The Company assumes that the users of the interim financial information herein have read, or have access to, the audited financial statements for the preceding period, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context.

USE OF ESTIMATES

The preparation of the Company's financial statements in conformity with U.S. 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 amount of revenues and expenses during the reporting period.

CASH EQUIVALENTS

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

FAIR VALUE MEASUREMENTS

The Company adopted the provisions of ASC Topic 820, "Fair Value Measurements and Disclosures", which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents, deposits, prepaid expenses, notes payable, and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:

* Level 1 - quoted prices in active markets for Identical assets or liabilities

* Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable

* Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

INCOME TAXES

The Company utilizes FASB ASC 740, "Income Taxes," which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is recorded when in the opinion of management, it is "more likely-than-not" that a deferred tax asset will not be realized.

The Company generated a deferred tax credit through net operating loss carryforward. However, a valuation allowance of 100% has been established. Interest and penalties on tax deficiencies recognized in accordance with ASC accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

BASIC AND DILUTED NET LOSS PER SHARE

Net loss per share is calculated in accordance with ASC 260, Earnings Per Share, for the period presented. Basic net loss per share is based upon the weighted average number of common shares outstanding. Diluted net loss per share is based on the assumption that all dilative convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

As of March 31, 2019, the Company had no potentially dilutive securities.

INTANGIBLE ASSETS

When an intangible is purchased from another entity, its value equals the cash or fair market value of the consideration given. The present value of payments on the liability incurred or the fair value of the stock issued may also be used to value externally acquired intangible.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In May, 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers ( Topic 606): Narrow-Scope Improvements and Practical Expedients. The amendments in this Update affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers ( Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in this Update are the same s the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, Revenue from Contracts with Customers ( Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year.

In March, 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation ( Topic 718): Improvements to Employee Share-Based Payment Accounting. For public business entities, the amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. For all other entities, the amendments re effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual periods. If an entity early adopts the amendments in an interim period, any adjustment should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period.

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Going Concern

9 Months Ended

Mar. 31, 2019

Going Concern [Abstract]

GOING CONCERN

NOTE 3 – GOING CONCERN

The Company's financial statements are prepared using U.S. GAAP applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company had an accumulated deficit of $100,610 since inception through the period ended March 31, 2019. Management's plans to continue as a going concern include raising additional capital through sales of common stock. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described above and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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Commitments and Contingencies

9 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 4 – COMMITMENTS AND CONTINGENCIES

The Company does not have any commitments or contingencies. There were no legal proceedings against the Company with respect to matters arising in the ordinary course of business. Neither the Company nor any of its officers or directors is involved in any other litigation either as plaintiffs or defendants, and have no knowledge of any threatened or pending litigation against them or any of the officers or directors.

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Related Party Transactions

9 Months Ended

Mar. 31, 2019

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

At March 31, 2019, $18,981 was due to a related party. The Company imputed interest of $745 and $1,829 during the nine months ended March 31, 2019 and 2018. The balances of amount to related party was $18,981 and $0 as of March 31, 2019 and June 30, 2018, respectively.

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Capital Stock

9 Months Ended

Mar. 31, 2019

Equity [Abstract]

CAPITAL STOCK

NOTE 6 – CAPITAL STOCK

No stock was issued in the nine months ended March 31, 2019 and 2018. During the year ended June 30, 2018, $26,700 was forgiven resulting in an increase in additional paid in capital of the same amount.

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Subsequent Events

9 Months Ended

Mar. 31, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 7 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through May 14, 2019. Based on its evaluation no events have occurred requiring adjustment or disclosure.

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

BASIS OF PRESENTATION

BASIS OF PRESENTATION

The accompanying interim financial statements and related notes as of and for the three and nine months ended March 31, 2019 have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for the financial information, and with the rules and regulations of the United States Securities and Exchange Commission ("SEC"). The interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the fiscal year presented.

The Company assumes that the users of the interim financial information herein have read, or have access to, the audited financial statements for the preceding period, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context.

USE OF ESTIMATES

USE OF ESTIMATES

The preparation of the Company's financial statements in conformity with U.S. 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 amount of revenues and expenses during the reporting period.

CASH EQUIVALENTS

CASH EQUIVALENTS

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

The Company adopted the provisions of ASC Topic 820, "Fair Value Measurements and Disclosures", which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents, deposits, prepaid expenses, notes payable, and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:

* Level 1 - quoted prices in active markets for Identical assets or liabilities

* Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable

* Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

INCOME TAXES

INCOME TAXES

The Company utilizes FASB ASC 740, "Income Taxes," which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is recorded when in the opinion of management, it is "more likely-than-not" that a deferred tax asset will not be realized.

The Company generated a deferred tax credit through net operating loss carryforward. However, a valuation allowance of 100% has been established. Interest and penalties on tax deficiencies recognized in accordance with ASC accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

BASIC AND DILUTED NET LOSS PER SHARE

BASIC AND DILUTED NET LOSS PER SHARE

Net loss per share is calculated in accordance with ASC 260, Earnings Per Share, for the period presented. Basic net loss per share is based upon the weighted average number of common shares outstanding. Diluted net loss per share is based on the assumption that all dilative convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

As of March 31, 2019, the Company had no potentially dilutive securities.

INTANGIBLE ASSETS

INTANGIBLE ASSETS

When an intangible is purchased from another entity, its value equals the cash or fair market value of the consideration given. The present value of payments on the liability incurred or the fair value of the stock issued may also be used to value externally acquired intangible.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In May, 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers ( Topic 606): Narrow-Scope Improvements and Practical Expedients. The amendments in this Update affect the guidance in Accounting Standards Update 2014-09, Revenue from Contracts with Customers ( Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in this Update are the same s the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update 2015-14, Revenue from Contracts with Customers ( Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year.

In March, 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation ( Topic 718): Improvements to Employee Share-Based Payment Accounting. For public business entities, the amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. For all other entities, the amendments re effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual periods. If an entity early adopts the amendments in an interim period, any adjustment should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period.

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Summary of Significant Accounting Policies (Details)	9 Months Ended
	Mar. 31, 2019
Summary of Significant Accounting Policies (Textual)
Valuation allowance, percentage	100.00%

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Going Concern (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Going Concern (Textual)
Accumulated Deficit	$ (100,610)	$ (80,369)

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Related Party Transactions (Details) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Related Party Transactions (Textual)
Due to a related party	$ 18,981
Imputed interest	745	$ 1,829
Balances of amount to related party	$ 19,364		$ 0

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Capital Stock (Details)	12 Months Ended
	Jun. 30, 2018 USD ($)
Capital Stock (Textual)
Forgiven resulting in increase additional paid in capital	$ 26,700