v2.4.0.8

CONSOLIDATED BALANCE SHEETS (USD $)	Aug. 31, 2013	Aug. 31, 2012
Current Assets
Cash and Cash Equivalents
Total Assets
Current Liabilities
Bank Overdraft		6
Note Payable - Related Party		303,250
Note Payable	34,500	30,000
Convertible Note Payable - Related Party	3,090
Convertible Notes Payable, Net of discounts of $6,588 and $18,333	258,162	14,767
Accrued Expenses	871,002	456,361
Due to Joint Venture	101,250	101,250
Derivative Liabilities	925,112	55,913
Accrued Interest ($975,940 and $663,937 owed to related parties)	976,177	665,363
Accrued Compensation - Directors	4,035,302	3,431,594
Due to Directors	19,649
Total Liabilities	7,224,244	5,058,504
Stockholders' Deficit
Common Stock	10,360	1,208
Stock Payable
Stock Held in Escrow: 152,533,332 and 48,712,800 Held in Escrow, Respectively	(105,259)	(6,021,420)
Additional Paid-In-Capital	39,361,624	43,502,404
Accumulated Deficit	(7,419,591)	(7,419,591)
Accumulated Deficit Since Re-Entering the Development Stage	(39,071,378)	(35,121,105)
Treasury Stock - 20 Shares at Cost	(3,000)	(3,000)
Total Stockholders' Deficit	(7,224,244)	(5,058,504)
Total Liabilities and Stockholders' Deficit
Common Stock, Class B [Member]
Stockholders' Deficit
Common Stock
Preferred Stock, Class A [Member]
Stockholders' Deficit
Preferred Stock
Preferred Stock, Class B [Member]
Stockholders' Deficit
Preferred Stock	3,000	3,000
Preferred Stock, Class C [Member]
Stockholders' Deficit
Preferred Stock
Preferred Stock, Class D [Member]
Stockholders' Deficit
Preferred Stock

Total accumulated deficit since re-entering the development stage.

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Amount of stock payable.

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Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Carrying value as of the balance sheet date of payments made in excess of existing cash balances, which will be honored by the bank but reflected as a loan to the entity. Overdrafts generally have a very short time frame for correction or repayment and are therefore more similar to short-term bank financing than trade financing.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Value of common stock held in trust.

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Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares.

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Carrying value as of the balance sheet date of the portion of long-term debt due within one year or the operating cycle if longer identified as Convertible Notes Payable. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder.

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Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements.

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Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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The aggregate obligations owed to related parties other than affiliates, officers or stockholders (for example, owner's immediate families or employee pension trusts) at the financial statement date. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

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Carrying value of the current portion of notes payable which were initially due after one year or beyond the normal operating cycle, if longer, and which are not otherwise defined in the taxonomy.

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Value of all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by shareholders, which is net of related treasury stock. May be all or a portion of the number of preferred shares authorized. These shares represent the ownership interest of the preferred shareholders.

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The cumulative amount of the reporting entity's undistributed earnings or deficit.

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-Name Regulation S-X (SX)

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-Name Regulation S-X (SX)

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-Name Accounting Standards Codification

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-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.31(a)(3))

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A3

-Appendix A

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-Name Accounting Standards Codification

-Topic 310

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-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

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-Name Accounting Standards Codification

-Topic 210

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-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

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The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.

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-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656

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-Name FASB Technical Bulletin (FTB)

-Number 85-6

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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GLOBAL EARTH ENERGY, INC. 10-K