U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 10-QSB

Quarterly Report Under

the Securities Exchange Act of 1934

For Quarter Ended: March 31, 2006

Commission File Number: 0-29987

GLOBAL LINKS CORP.

(Exact name of small business issuer as specified in its charter)

Nevada	88-0106514
(State or other jurisdiction Employer of incorporation or organization)	(IRS Identification No.)

3571 East Sunset Road,

Las Vegas, Nevada

(Address of principal executive offices)

89120	(702) 436-7007
(Zip Code)	(Issuer's Telephone Number)

(Former name, former address and former fiscal year, if changed since last report)

Check whether the issuer

(1) filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 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 x No o.

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

The number of shares outstanding of each of the registrant's classes of such common equity, as of August 10, 2006, was 77,672,086 shares of Common Stock and 13,760,000 shares of Series B Preferred Stock.

1

Table of Contents

PART I	3
ITEM 1. FINANCIAL STATEMENTS.	3
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS	11
ITEM 3. CONTROLS AND PROCEDURES	15
PART II. OTHER INFORMATION	15
ITEM 1. LEGAL PROCEEDINGS	15
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	15
ITEM 3. DEFAULTS UPON SENIOR SECURITIES: - NONE	15
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS: - NONE	15
ITEM 5. OTHER INFORMATION - NONE	15
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K -	15

2

PART I

ITEM 1.FINANCIAL STATEMENTS.

The unaudited condensed consolidated financial statement for the Global Links Corp. and it’s wholly owned subsidiaries, Capitol Group Holdings Corp. and Global Links Construction Corp. for the three month period ended March 31, 2006, is attached here.

3

Global Links Corp

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED BALANCE SHEET

(Unaudited)

	As of March 31, 2006
ASSETS
CURRENT ASSETS
Cash	$	17,609
Accounts receivable		5,078
Prepaid expenses		180
Inventory asset		4,316
Deposits		27,187
Note receivable		150,000
Total Current Assets		204,370
PROPERTY AND EQUIPMENT
Land		502,767
Buildings (Net of depreciation of $84,069)		1,246,430
Furniture and equipment (Net of depreciation of $21,604)		45,842
Total Property and Equipment		1,795,039
OTHER ASSETS
Note receiveable		1,000,000
Deposit on land		441,249
Land held for development		3,371,648
Total Other Assets		4,812,897
Total Assets	$	6,812,306
LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES
Accounts payable	$	100,973
Property taxes payable		3,970,023
Current portion of debtenture payable (net of discount $99,246)		275,067
Accrued interest on loans and notes		100,759
Total Current Liabilities		4,446,822
LONG TERM LIABILITIES
Debenture payable- Sunset Building (net of discount $158,603)		1,088,743
Debenture payable- Transix (net of discount $ 7,313)		17,687
Line of credit - Majestic		10,000
Rent deposits		5,000
Total Long Term Liabilities		1,121,430
Commitments and contingencies		100,000
Total Liabilities		5,668,252
STOCKHOLDERS' EQUITY
Preferred Stock par value $0.001 (100,000,000 shares authorized, 13,760,000 issued and outstanding)		13,760
Common Stock par value $0.0001 (289,000,000 shares authorized, 22,938,362 issued and outstanding)		2,294
Additional paid-in capital		5,999,462
Stock subscriptions receivable		(102,000	)
Accumulated deficit - accumulated during development stage		(4,769,462	)
Total Stockholders' Equity		1,144,054
Total Liabilities and Stockholders' Equity	$	6,812,306

See accompanying notes to financial statements.

4

GLOBAL LINKS CORP.

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED INCOME STATEMENT

(Unaudited)

	Three months ended March 31, 2006			Three months ended March 31, 2005 (Restated)			Inception March 28, 2002 through March 31, 2006
REVENUES
Consulting fees	$	-		$	-		$	100,000
Rental income		46,309			36,255			207,385
Construction income		-			-			17,300
Sales		1,341,923			-			1,341,923
R-E Info income		-			-			408
Option income		151,000			-			511,000
Total Revenues		1,539,232			36,255			2,178,016
COST OF GOODS SOLD
Cost of goods sold		376,300			-			516,314
Gross Profit		1,162,932			36,255			1,661,702
EXPENSES
General and Administrative		35,596			42,703			841,700
Consulting Fees		30,360			38,450			2,147,086
Property tax expense		125,440			5,000			482,010
Officer and employee compensation		72,743			68,142			2,321,292
Professional fees		26,518			32,983			195,787
Depreciation and amortization		18,844			21,116			107,844
Research & development		-			-			125,000
Maintenance expense		3,903			2,847			40,091
Total Expenses		313,404			211,241			6,260,810
OTHER INCOME/(EXPENSE)
Interest income		10			10			626
Interest expense		(58,599	)		(59,689	)		(473,530	)
Loss on disposal of asset		(813	)		-			(1,626	)
Loss on Judicial property seizure		-			-			(13,662	)
Total Other Expense		(59,402	)		(59,679	)		(488,192	)
NET INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS		790,126			(234,665	)		(5,087,300	)
Discontinued operations, net		-			-			317,837
Net Income (Loss)	$	790,126		$	(234,665	)	$	(4,769,463	)
Net income (loss) per common share, basic and diluted	$	0.10		$	(0.09	)	$	(304.41	)
Earnings (loss) per share before discontinued operations	$	0.10		$	(0.09	)	$	(324.69	)
Earnings per share of discontinued operations	$	-		$	-		$	20.29
Weighted Average number of common shares outstanding, basic and diluted adjusted for previous splits		8,192,362			2,477,151			15,668

See accompying notes to the financial statements

5

GLOBAL LINKS CORP

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

	Three Months Ended March 31, 2006			Three Months Ended March 31, 2005 (Restated)			Inception March 28, 2002 Thru March 31, 2006
OPERATING ACTIVITES
Net income (loss)	$	790,127		$	(234,665	)	$	(4,769,462	)
Adjustments to reconcile net income (loss) to cash used in operating activities:
Depreciation and amortization		18,844			21,116			107,843
Gain on sale of subsidiary		-			-			(433,908	)
Loss on seizure of property		-			-			13,662
Loss on the disposal of an asset		813			-			1,626
Consulting and legal fees paid via stock		59,891			22,850			1,328,344
Officers compensation paid via stock		-			-			1,483,200
Employee stock incentive plan		26,154			16,657			331,693
Amortization of beneficial conversion feature		28,145			26,478			200,397
Notes receivable for land		(1,000,000	)		-			(1,000,000	)
Changes in operating assets and liabilities:
Increase in notes receiveable		(150,000	)		-			(150,000	)
Increase in inventory		-			-			(4,316	)
Increase in accounts receiveable		(140	)		-			(5,078	)
Increase in deposits		-			(9,335	)		(27,187	)
Decrease (increase) in prepaid expenses		3,525			243			(180	)
(Decrease) increase in accounts payable		(106,187	)		14,439			100,973
Increase in rent deposits		-			-			5,000
Increase in accrued liabilities		19,072			10,733			493,759
Decrease in liabilities of subsidiary sold		-			-			135,789
(Decrease) increase in property taxes payable		(216,483	)		-			115,413
Increase in commitments and contingences		-			-			100,000
Decrease in liabilities of discontinued operations								263,119
Net cash used in operating activities		(526,239	)		(131,484	)		(1,709,313	)
INVESTMENT ACTIVITIES
Cash paid for property plant and equipment		(7,907	)		(21,477	)		(949,413	)
Proceeds from sale of subsidiary		-			-			35,000
Cash paid for land expansion		(20,000	)		-			(107,937	)
Decrease in land held for development		376,300			-			376,300
Net cash provided by (used) in investment activities		348,393			(21,477	)		(646,050	)

See accompanying notes to the financial statements.

6

GLOBAL LINKS CORP

(A Development Stage Enterprise)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited)

	Three Months Ended			Three Months Ended March 31, 2005			Inception March 28, 2002 Thru
	March 31, 2006			(Restated)			March 31, 2006
FINANCING ACTIVITIES
Cash proceeds from debt		-			41,000			205,000
Cash proceeds from line of credit		10,000			-			10,000
Cash paid to reduce debt		(935	)		(3,699	)		(38,343	)
Release of common stock receiveable		482			-			22,983
Issuance of common stock receiveable		(102,000	)		-			(102,482	)
Cash proceeds for sale of common stock		224,750			140,945			2,275,814
Net cash provided by financing activities		132,297			178,246			2,372,972
(Decrease) increase in cash		(45,549	)		25,285			17,609
Cash at Beginning of Period		63,158			4,339			-
Cash at End of Period	$	17,609		$	29,624		$	17,609
SUPPLEMENTAL DISCLOSURES
Cash payment for interest	$	10,356		$	27,477		$	148,550
Cash payment for income taxes	$	-		$	-		$	-
Non cash investing and financing activities
Beneficial conversion feature	$	-		$	-		$	465,558
Shares Issued for the conversion of debt	$	-		$	-		$	18,987
Shares issued for the merger with Capitol Group
Note for Sunset building	$	-		$	-		$	1,280,000
Reverse split on common stock	$	-		$	-		$	22,468
Property tax payable released in tax seizure	$	-		$	-		$	1,390
Conversion of preferred stock to common stock	$	1,240		$	-		$	1,240

See accompanying notes to the financial statements

7

GLOBAL LINKS CORP.

(A Development Stage Enterprise)

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2006

(Unaudited)

Note 1 - Basis of Presentation

The accompanying condensed consolidated balance sheet of Global Links Corp (the "Company”), (a development stage enterprise) and its wholly owned subsidiaries, Capitol Group Holdings Corp. and Global Links Construction Corp. at March 31, 2006, and the condensed consolidated income statement for the three month periods ended March 31, 2006 and 2005 have been prepared by the Company’s management. In addition management also prepared the cumulative period during the development stage from March 28, 2002 (inception) through March 31, 2006 and the statement of cash flows for the three month period ended March 31, 2006 and 2005 and the cumulative period during the development stage through March 31, 2006. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. The unaudited financial statements should be read in conjunction with the financial statements and footnotes thereto included in the Company's Form 10-KSB for the year ended December 31, 2005.

Operating results for the three month period ended March 31, 2006, are not necessarily indicative of the results that can be expected for the year ending December 31, 2006.

Reclassifications

Certain reclassifications, which have no effect on net income, have been made in the prior period financial statements to conform to the current presentation.

Significant Accounting Policies

Loss Per Share

Basic and diluted loss per common share for all periods presented is computed based on the weighted average number of common shares outstanding during the year as defined by SFAS No. 128, "Earnings Per Share". The assumed exercise of common stock equivalents was not utilized for the three month periods ended March 31, 2006 or March 31, 2005 since the effect would be anti-dilutive. There were 192,309,966 common stock equivalents outstanding at March 31, 2006.

Revenue Recognition

Revenue from the sale of real estate land (lots) is recognized when the agreements are signed and considerations is given (received). Any amounts received from buyers in excess of revenues recognized are classified as other liabilities.

Rental income from the professional office building in Southern Nevada is recognized in the month it is earned. Any amounts received from tenants in excess of revenues recognized are classified as other liabilities.

Revenue from the sale of land options are recognized when the agreement is signed by both parties, due to the fact that the earning process is complete once signed. The earnings process is deemed complete because the monies are non-refundable, the Company has the option to repurchase plus interest the option payment, and should the Company not perform, the option can be converted at the Company’s discretion to common stock (the conversion price is determined upon written request by the Company and each request shall be less than 5% of the outstanding issued common stock of the Company).

8

Note 1 - Basis of Presentation (CONTINUED)

New Accounting Pronouncements

In December 2004, the FASB issued SFAS No. 123 (revised 2004), "Share-Based Payment." SFAS No. 123R replaced SFAS No. 123 and superseded Accounting Principles Board Opinion No. 25. SFAS No. 123R requires compensation costs related to share-based payment transactions to be recognized in the financial statements. The Company has adopted SFAS 123R in the first quarter of 2006. Under this new ruling the Company began adopting the policy of recording stock based compensation at strike price at the time of the grant for employees. All non-employee stock based compensation is still currently recorded at the actual sales price on the date of sale.

Note 2 - Notes Receivable

On March 31, 2006, the Company has a note receivable in the amount of $1,000,000 for the sale of 100 lots in Kingman Arizona (See Note 3 in the financial statements). The terms of the note are as follows, interest of 8.25% per annum is payable in monthly installments of $6,875, beginning on May 1, 2006, matures March 31, 2008 at which time the entire unpaid principal and any accrued interest is due. As of July 2006, the Company has not received the first May payment on this note receivable.

On April 2, 2006, the Company signed a note receivable in the amount of $150,000 with 8% interest per annum. The note matures on April 1, 2007 at which time all accrued interest and principle are due. Monies (consideration for the note) were exchanged on March 10, 2006, at which time the Company recorded a note receivable even though the physical agreement was not yet signed.

Note 3 - Land Held for Development

Capitol Group Holdings Corp., a wholly owned subsidiary of the Company acquired 1,000 lots in Mojave County Arizona. The lots are part of a development named Valle Vista Ranch, planned as an affordable, energy efficient senior development. The entire project is made up of a total of 1,624 lots. The additional 624 lots not currently owned by the Company may be acquired by the Company at a later date. During the fourth quarter in 2005, the Company had 4 lots seized by Mohave County for delinquent property taxes due.

On March 31, 2006, the Company sold 100 lots in the form of a note receivable for $1,000,000 (See Note 2 above).

Currently the Company has control over 896 lots in Valle Vista Ranch.

Note 4 - Debt

During the quarter ending March 31, 2006, the Company incurred an additional debt instrument in the form of a line of credit granted to the Company in the amount of $50,000. The first draw of cash was received in the amount of $10,000 on February 27, 2006. The terms of the line of credit are as follows, the outstanding balance of the line of credit is due within two years from the date of issuance, with 8% interest beginning to accrue monthly 30 days after the first draw.

Note 5 - Common Stock

During the first quarter of 2006, the Company issued S-8 shares too employees and non-employees for services. The table below represents the number of shares issued, dollar value of those shares, and registered shares remaining at March 31, 2006.

Three months ended March 31, 2006	Number of shares		Share Dollars		Bonus portion		Shares at the beginning of period		Shares at the end of period
S-8 Reg. Employee		4,550,000	$	224,750	$	29,272		383,280,000		378,730,000
S-8 Reg. Non-Employee		1,310,000	$	59,891		-		82,200,000		80,290,000

9

Note 6 - Income taxes

The Company accounts for income taxes under the liability method. Under this method, deferred tax assets and liabilities are recognized and measured using enacted tax rates at the balance sheet date. Deferred tax expense or benefit is the result of changes in deferred tax assets and liabilities. Valuation allowances are established when necessary to reduce net deferred taxes to amounts that is more likely than not to be realized. It appears that it is more likely than not, that the Company will not earn income sufficient to realize the deferred tax assets during the carry forward period. As of December 31, 2005, for U.S. federal income tax return purposes, the Company has a net operating loss carry forward of approximately $6,315,000, which will expire between 2013 and 2025.

Note 7 - Commitments and Contingencies

During the second quarter of 2005, First American Title has filed suit against the Company claiming failure to pay contractual obligations for the Company's R-E Info project. The Company expects to settle the suit by payment of an amount not in excess of $100,000 which has been accrued in commitments and contingencies in these financial statements. Accordingly, the Company has determined not to accrue additional amounts. The current contract with American Title requires monthly payments of $25,000 per month. A default judgment was entered by the County of Orange in California against the Company for breach of contract. The judgment is not enforceable due to the fact that the Company is a Nevada corporation. As of March 31, 2006, the plaintiff has yet to file in Nevada.

Note 8 - Subsequent Events

Stock Transactions

On February 6, 2006, the Board of Directors approved a 3-for-1 forward stock split for all shareholders of the Company as of April 10, 2006. The table below represents the stock activity from March 31, 2006 through August 10, 2006, which includes the 3-for-1 forward split with the effective date of April 10, 2006.

The Company also issued 6,000,000 shares of Employee S-8 registered stock from March 31, 2006 through August 10, 2006. There was no Non-Employee S-8 shares were issued from March 31, 2006 through August 10, 2006.

On June 22, 2006, the Company issued 2,857,000 shares of common stock, at the request of the debtor, in consideration for a payment in the amount of $10,000 on its Debenture payable-Sunset building.

	Common stock		Preferred stock series B
Shares at March 31, 2006 before split		22,938,362		13,760,000
Total number of shares after 3-for-1 forward split		68,815,086		-
Shares issued after April 7, 2006		6,000,000		-
Shares issued for payment of Debtenure (June 22, 2006)		2,857,000		-
Total shares outstanding		77,672,086		13,760,000

10

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our condensed consolidated financial statements and related notes included elsewhere in this report. References in this section to "Global Links Corp," the "Company," "we," "us," and "our" refer to Global Links Corp. and our direct subsidiaries on a consolidated basis unless the context indicates otherwise.

This quarterly report contains forward looking statements relating to our Company's future economic performance, plans and objectives of management for future operations, projections of revenue mix and other financial items that are based on the beliefs of, as well as assumptions made by and information currently known to, our management. The words "expects, intends, believes, anticipates, may, could, should" and similar expressions and variations thereof are intended to identify forward-looking statements. The cautionary statements set forth in this section are intended to emphasize that actual results may differ materially from those contained in any forward looking statement.

EXECUTIVE SUMMARY

“Our vision is to change the global housing market and provide affordable housing through the partnerships of quality home builders. We fulfill this vision by providing free real estate information of property to the general public and by providing innovative and affordable solutions to senior citizens through projects such as “Valle Vista”-a development where all seniors can call home”… the Management.

DEVELOPMENT OF OUR BUSINESS

Global Links Corp. (hereinafter referred to as "Global Links" or the "Company") was formed as a corporation under the laws of the State of Nevada in 1952 under the name “Blue Jacket Mining Company". In December 1994 the Company’s shareholders approved a reverse merger with United Casino Corporation, a Nevada Corporation, and the Company’s name was changed at that time to United Casino Corporation. In August, 2000, the Company's name was again changed to United Trading.Com, and in December 2001, the shareholders approved a name change to Global Links Corp.

In 2002, the Company's management determined that their objective of acquiring an operating business, or merging with an operating business was meeting with no success and therefore decided to pursue the business of marketing electronic transactions by offering a suite of comprehensive electronic products.

In 2003, the Company transferred all of the assets and liabilities relating to the business of marketing electronic transactions to its wholly owned subsidiary, Global Links Card Services, Inc. ("GLCS"). In December, 2004, the Company sold all of its interests in GLCS to an unrelated corporation. Also in 2003, the Company merged with Capitol Group Holding Corporation and in addition to the marketing of electronic transactions products, the Company entered the business of real estate acquisitions and development, real estate information services and international housing projects.

In 2004, the Company completed renovations on its Sunset office building and the premium office space was available for lease. During the year of 2005 the Company continued leasing office space and made an additional 600 feet available for lease.

CRITICAL ACCOUNTING POLICIES

Concentrations

The Company currently has a high concentration of customers in the real estate industry in Southern Nevada. The Company’s finished office building is occupied primarily by one tenant. The Company does not believe a loss of its predominant tenant would negatively impact the Company’s operations, due to the fact that the building is marketable and would have no issue obtaining another tenant in a short period of time.

11

Item 2 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Revenue Recognition

Revenue from housing and other real estate sales are recognized when sales are closed and title passes to the buyer. Sales are closed when all of the following conditions are met: a sale is consummated, a significant down payment is received, the earnings process is complete and the collection of any remaining receivables is reasonably assured. Any amounts received from buyers in excess of revenues recognized are classified as other liabilities.

Rental income from the professional office building in Southern Nevada is recognized in the month it is earned. Any amounts received from tenants in excess of revenues recognized are classified as other liabilities.

Revenue from the sale of land options are recognized when the agreement is signed by both parties, due to the fact that the earning process is complete once signed. The earnings process is deemed complete because the monies are non-refundable, the Company has the option to repurchase plus interest the option payment, and should the Company not perform the option can be converted at the Company’s discretion to common stock (the conversion price is determined upon written request by the Company and each request shall be less than 5% of the outstanding issued common stock of the Company).

NEW ACCOUNTING PRONOUNCEMENTS

In December 2004, the FASB issued SFAS No. 123 (revised 2004), "Share-Based Payment." SFAS No. 123R replaced SFAS No. 123 and superseded Accounting Principles Board Opinion No. 25. SFAS No. 123R requires compensation costs related to share-based payment transactions to be recognized in the financial statements. The Company has adopted SFAS 123R in the first quarter of 2006. Under this new ruling the Company began adopting the policy of recording stock based compensation at strike price at the time of the grant for employees. All non-employee stock based compensation is still currently recorded at the actual sales price on the date of sale.

RESULTS OF OPERATIONS FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2006 COMPARED WITH THE THREE MONTH PERIOD ENDED MARCH 31, 2005.

Results of operations consist of the following:

	March 31, 2006		March 31, 2005			Difference		Percent
Net revenues	$	1,539,232	$	36,255		$	1,502,977		4146	%
Cost of goods sold		376,300		-			376,300		100	%
Gross profit		1,162,932		36,255			1,126,677		3108	%
Operating expense (*)		372,806		270,920			101,886		38	%
Net operating income (loss)	$	790,126	$	(234,665	)	$	1,024,791		-437	%

*Operating expenses were calculated using “Total Expenses” and “Total Other Income (Expense)” on the Consolidated Income Statement.

12

Item 2 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

RESULTS OF OPERATIONS FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2006 COMPARED WITH THE THREE MONTH PERIOD ENDED MARCH 31, 2005 (CONTINUED)

The 4146% increase in net revenues from the period ended March 31, 2005 to March 31, 2006 is attributable mainly to a sale of 100 lots in Kingman Arizona, in the amount of $1,341,923 or 87% of total revenue. The total sale of $1,341,923 consists of a note receivable in the amount of $1,000,000 and property taxes liability assumed by the buyer in the amount of $341,923; compared to no sales in the three month period of 2005. The amount of option income in the three month period of March 31, 2006 is $151,000, or 10% of total revenue in comparison to zero in the same period in 2005. The amount of rental revenue received in the three month period ended March 31, 2006 is $46,309, or 3% of total revenue compared to $36,255 or 100% of total revenue during the same period in 2005. The $10,054 increase in rental revenue is largely attributable to an additional 604 square feet of rental space made available to tenants.

The amount of total operating expenses increased $101,886 from the three month period in 2006 compared to the same period in 2005. The increase was mainly attributed to the property tax expense in Kingman, AZ.

The Company received $224,750 from the sale of S-8 registered shares of common stock in the three month period in 2006 compared to $194,021 in the same period in 2005.

The Company issued 5,860,000 shares of S-8 common stock in 2006 compared to 2,994,286 shares of common stock in 2005.

On March 23, 2006, a preferred share holder converted 1,240,000 of their shares to 12,400,000 of common shares. (see Note 13 of the 2005 annual 10-KSB filing).

Management believes that it is moving toward profitability. We plan to attain profitability and meet cash flow needs going forward as follows:

1. We are seeking additional investors in the Kingman, Arizona “Valle Vista” project through the form of land option payments.

2. We are actively seeking financing through additional debt.

3. We are seeking to control overall operating expenses while increasing our gross revenue on our daily operations.

4. On March 31, 2006, the Company has a $1,000,000 note receivable from the sale of 100 lots in Kingman, Arizona which should bring over $6,800 a month into operations. (See Note 3 to the financial statements)

13

Item 2 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

LIQUIDITY AND CAPITAL RESOURCES

The change in position of cash, current liabilities and current receivables consist of the following:

	March 31, 2006		December 31, 2005		Difference			Percent
Cash	$	17,609	$	63,158	$	(45,549	)		-72	%
Current liabilities	$	4,446,822	$	4,745,091	$	(298,269	)		-6	%
Current receivables	$	5,078	$	4,938	$	140			3	%
Note receivable	$	150,000	$	-	$	150,000			100	%

Total cash at the end of the period decreased in the amount of $45,549. The balance of cash at the end of the prior period of December 31, 2005, is largely attributable from the proceeds available from the sale of land options.

Cash was used to pay down payables in the first quarter of 2006.

Our total amount of current liabilities has remained relatively constant as we maximize our available cash resources for daily operating expenditures.

As of March 31, 2006, the Company does not have sufficient cash to meet the projected needs for the next twelve months and will therefore needs to raise additional capital. The Company expects to raise such cash needs by additional borrowing, the sale of the Company's common and/or preferred stock, and the sale of selected parcels in its Arizona development project.

The Company expects to spend $18,000 in additional research and development funds on its R-E Info website, with the site fully operational by the end of 2007.

The Company owns 896 residential lots in Arizona, which are planned for development in 2007. The project “Valle Vista” is a master planned community with over 1,600 homes available as affordable senior citizen housing.

The Company has an option to acquire two adjacent lots to its office building in Las Vegas, Nevada. The project: “Global Links Corp Center” is expected to require $500,000 for the first phase, and the Company anticipates raising the required funds through additional borrowing and/or equity financing in 2006. Closing on these properties is expected to take place on or before December 31, 2006. As of March 31, 2006 the Company has an investment of $441,249, consisting of $350,000 Deposit on Land and $91,249 of Option Payments, for the future project.

TheCompany received a copyright for "The Domain" on April 13, 2005. “The Domain” project is independent of the Kingman, Arizona project. The Company plans to break ground on the first phase of this project in 2007. "The Domain", is a futuristic living environment. "The Domain” is different from most building concepts as it utilizes a rather small footprint to offer a large amount of usable living space. The footprint is approximately 4,000 square feet, which includes a 2-story 2,400 square foot living environment, as well as 1,600 square feet of private patio and yard space. "The Domain" is surrounded by 8 feet concrete walls that provide for privacy and security. The project is planned to be built in an attached townhouse fashion, with 8 units in each cluster of buildings. The Company is currently in the development phase and negotiating on several parcels of real estate throughout the Las Vegas area, which will determine the start date for implementation of this project.

The Company does not have any off-balance sheet arrangement or contractual obligations that are likely to have or are reasonably likely to have a material current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that have not been disclosed in the Company's financial statements.

14

Forward Looking Statements

In connection with, and because it desires to take advantage of, the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company cautions readers regarding certain forward looking statements in the proceeding discussion and elsewhere in this report and in any other statement made by, or on the behalf of the Company, whether or not in future filings with the Securities and Exchange Commission. Forward looking statements are statements not based on historical information and which relate to future operations, strategies, financial results or other developments. Forward looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company. The Company disclaims any obligation to update forward looking statements.

ITEM 3. CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures.

Our chief executive officer and chief financial officer has reviewed and evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934 (the "Exchange Act"), as of a date within ninety days before the filing of this quarterly report. Based on that evaluation, the chief executive officer and chief financial officer has concluded that our current disclosure controls and procedures are effective to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported in the Commission's rules and forms.

Changes in internal controls.

The Company has hired an outside CPA with current knowledge of Generally Accepted Accounting Principles (“GAAP”) to further aid in the higher level GAAP issues, as well as drafting public filings. There were no significant deficiencies or material weakness in the internal controls, and therefore no corrective actions were taken.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

As of the date of this report, First American Title has filed suit against the Company claiming failure to pay contractual obligations for the Company's R-E Info Project. A default judgment was entered by the County of Orange in California against the Company for breach of contract. The judgment is not practicable due to the fact that the Company is a Nevada corporation. The plaintiff has yet to file in Nevada. The Company anticipates that R-E Info will be re-launched by year end 2007.

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

a) NONE

b) NONE

c) NONE

ITEM 3. DEFAULTS UPON SENIOR SECURITIES: - NONE

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS: - NONE

ITEM 5. OTHER INFORMATION - NONE

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

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 LINKS CORP.

Date: August 21, 2006      By: /Frank J. Dobrucki

Frank J. Dobrucki,

President, and CEO

 15