UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(MARK ONE)

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

~~ACT OF~~For ~~1934~~the quarterly period ended September 30, 2010

For the quarterly period ended March 31, 2010

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

EXCHANGE ACT OF 1934

For the transition period from _____ to ____

Commission File No. 333-160366

~~GLOBAL COOLING~~GREEN CARBON TECHNOLOGIES CORP.

(Exact name of registrant as specified in its charter)

Nevada	None
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

~~112~~ 1802 North ~~Curry~~Carson Street, Suite 212

Carson City, Nevada ~~89703~~89701

(Address of principal executive offices, zip code)

(~~702~~646) ~~967~~ 520-~~0698~~7426

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year,

if changed since last report)

~~Check~~ Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ~~Yes x No o~~

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

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 x No o

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

Large accelerated filer o		Accelerated filer o

Non-accelerated filer o (Do not check if smaller reporting company)		Smaller Reporting Company x

Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule 12b-2 of the Exchange Act):

Yes x No o

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Yes o No o

APPLICABLE ONLY TO CORPORATE ISSUERS

As of ~~March~~ 31November 11, 2010, there were ~~929~~19,~~999~~719,980 shares of common stock, $0.00001 par value per share, outstanding, Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (check one):

~~Large accelerated filer o Accelerated filer o Non-accelerated filer o Smaller reporting company x~~2

~~(Do~~GREEN ~~not check~~CARBON ifTECHNOLOGIES ~~a smaller reporting company)~~CORP.

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

QUARTERLY REPORT ON FORM 10-Q

FOR THE PERIOD ENDED ~~MARCH~~SEPTEMBER 3130, 2010

INDEX

Index			~~Page~~	Page
Part I.	~~Condensed~~ Financial Information
	Item 1.	~~Condensed~~ Financial Statements	4
		Condensed Balance Sheets as of March 31, 2010 (unaudited) and June 30, 2009.	4
		Condensed Balance Sheets as of September 30, 2010 (unaudited) and June 30, 2010.		5
		Condensed Statements of Operations for the Nine Months ended March 31, 2010 and 2009 (unaudited).	5
		Condensed Statements of Operations for the three months ended September 30, 2010 and 2009, and the period from July 3, 2008 (Inception) to September 30, 2010 (unaudited).		6
		Condensed Statements of Changes in Stockholders Equity for the Nine Months ended March 31, 2010 (unaudited) and Year ended June 30, 2009.	7
		Condensed Statements of Changes in Stockholders’ Equity for the three months ended September 30, 2010 (unaudited) and the years ended June 30, 2009 and 2010.		7
		Condensed Statements of Cash Flows for the Nine Months ended March 31, 2010 and 2009 (unaudited).	8
		Condensed Statements of Cash Flows for the nine months ended September 30, 2010 and 2009, and the period from July 3, 2008 (Inception) through September 30, 2010 (unaudited).		8
		Notes to Condensed Financial Statements (unaudited).	9	9
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	12	13
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	18	16
	Item 4.	Controls and Procedures.	18	16
Part II.	Other Information
	Item 1.	Legal Proceedings.	18	16
	Item 1A.	Risk Factors	18
	Item 1A	Risk Factors.		16
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	19	16
	Item 3.	Defaults Upon Senior Securities.	19	17
	Item 4.	~~Submission~~(Removed ofand ~~Matters to a Vote of Security Holders~~Reserved).	19	17
	Item 5.	Other Information.	19	17
	Item 6.	Exhibits.	19	17
Signatures			19	18
Certifications

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q of ~~Global~~Green ~~Cooling~~Carbon Technologies Corp., a Nevada corporation (the “Company”), contains “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: the Company’s need for and ability to obtain additional financing, the volatility of real estate prices, and the exercise of the control by David Rendina, the Company’s President and Chief Executive Officer, and Chairman of the Board of Directors, other factors over which we have little or no control; and other factors discussed in the Company’s filings with the Securities and Exchange Commission (“SEC”).

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

PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED FINANCIAL STATEMENTS.

GREEN CARBON TECHNOLOGIES CORP.

(A Development Stage Company)

Condensed Balance Sheets

	March 31,			June 30,
	September 30,			June 30,
	2010			~~2009~~2010
	(unaudited)
	(Unaudited)
ASSETS
Current assets:
Cash	$	4228,~~684~~048		$	729,~~125~~632
Total current assets		4228,~~684~~048			729,~~125~~632
Total assets	$	4228,~~684~~048		$	729,~~125~~632
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	~~442~~136		$	-1,549
Convertible note due to related party		~~16,928~~997			~~15,483~~967
Total current liabilities		171,~~370~~133			152,~~483~~516
Total Liabilities		171,~~370~~133			152,~~483~~516
Commitments and Contingencies
Shareholders' equity (deficit):
Shareholders' equity:
Preferred stock: 25,000,000 shares authorized of $0.00001 par value; 0 issued and outstanding as of March 31, 2010 and June 30, 2009		-			-
Preferred stock: 25,000,000 shares authorized of $0.00001 par value;
Common stock: 100,000,000 shares authorized of $0.00001 par value; 929,999 and 10,000 shares issued and outstanding as of March 31, 2010 and June 30, 2009		9			-
0 issued and outstanding as of September 30 and June 30, 2010		-			-
Additional paid-in capital		91,991			-
Common stock: 100,000,000 shares authorized of $0.00001 par value;
Accumulated deficit during development stage		(66,686	)		(8,358	)
19,719,980 shares issued and outstanding as of September 30 and June 30,
Total shareholders' equity (deficit)		25,314			(8,358	)
2010		197			197
Total liabilities and shareholders' equity (deficit)	$	42,684		$	7,125
Additional paid-in capital		97,403			97,403
Accumulated deficit during development stage		(70,685	)		(70,484	)
Total shareholders' equity		26,915			27,116
Total liabilities and shareholders' equity	$	28,048		$	29,632

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

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

Condensed Statements of Operations (Unaudited)

	Three Months Ended March 31,
	2010			2009
General and administrative expenses:
Consulting and professional fees	$	38,125		$	-
Other general & administrative expenses		4,557			-
Total general and administrative expenses		42,682			-
Other income (expenses)
Interest income		38			-
Interest expense		(491	)		-
Total other income (expenses)		(453	)		-
Net loss	$	(43,135	)	$	-
Loss per common share:
Basic and diluted	$	(0.06	)	$	0.00
Weighted average common shares outstanding:
Basic and diluted		669,999			10,000

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

GREEN CARBON TECHNOLOGIES CORP.

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

Condensed Statements of Operations (Unaudited)

	Nine Months Ended March 31,						Period from July 3, 2008 (Inception) to March
	Three Months Ended September 30,						Period from July 3, 2008 (Inception) to September
	2010			2009			~~31, 2010~~	30, 2010
General and administrative expenses:
Consulting and professional fees	$	~~49,625~~-		$	5,000		$	5760,~~125~~112
Other general & administrative expenses		~~7,296~~172			~~330~~1,803			8,~~001~~947
Total general and administrative expenses		~~56,921~~172			56,~~330~~803			6569,~~126~~059
Other income (expenses)
Interest income		381			-			3841
Interest expense		(~~1,445~~30	)		-(467	)		(1,~~598~~667	)
Total other income (expenses)		(~~1,407~~29	)		-(467	)		(1,~~560~~626	)
Net loss	$	(~~58,328~~201	)	$	(57,~~330~~270	)	$	(6670,~~686~~685	)
Loss per common share:
Basic and diluted	$	(0.17000	)	$	(0.54024	)
Weighted average common shares outstanding:
Basic and diluted		~~337~~19,~~493~~719,980			9308,~~815~~695

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

GREEN CARBON TECHNOLOGIES CORP.

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

Condensed Statements of Changes in Stockholders' Equity (Deficit) ~~(Unaudited)~~

								Accumulated
								deficit
			Common		Additional			during
	Common		stock		paid-in			development
	stock		amount		capital			stage			Total
Balance, July 3, 2008 (inception)		-	$	-	$	-		$	-		$	-
Shares issued for services July 8, 2008		10200,000		-2		-(2	)		-			-
Net loss, June 30, 2009		-		-		-			(8,358	)		(8,358	)
Balance, June 30, 2009		10200,000		2		(2	)		(8,358	)		(8,358	)
Shares issued for cash		~~919~~19,~~999~~519,980		9195		9197,~~991~~405			-			9297,~~000~~600
Net loss, March 31, 2010		-		-		-			(58,328	)		(58,328	)
Net loss, June 30, 2010		-		-		-			(62,126	)		(62,126	)
Balance, March 31, 2010		929,999	$	9	$	91,991		$	(66,686	)	$	25,314
Balance, June 30, 2010		19,719,980		197		97,403			(70,484	)		27,116
Net loss, September 30, 2010		-		-		-			(201	)		(201	)
Balance, September 30, 2010 (Unaudited)		19,719,980	$	197	$	97,403		$	(70,685	)	$	26,915

Note: On July 26, 2010 the Company affected a 20 for 1 forward split of its capital structure such that every one share of common stock issued and outstanding prior to the split was exchanged for twenty post-split shares of common stock.

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

GREEN CARBON TECHNOLOGIES CORP.

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

Condensed Statements of Cash Flows (Unaudited)

	Nine Months Ended March 31,						Period from July 3, 2008 (Inception) to March
	Three Months Ended September 30,						Period from July 3, 2008 (Inception) to September
	2010			2009			~~31, 2010~~	30, 2010
Cash flows from operating activities:
Net loss	$	(~~58,328~~201	)	$	(57,~~330~~270	)	$	(6670,~~686~~685	)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Accrued interest expense		~~1,445~~30			-467			~~1,598~~997
Changes in operating assets and liabilities:
Increase in accounts payable		442			-			442
(Decrease) increase in accounts payable		(1,413	)		785			136
Net cash (used in) operating activities		(561,~~441~~584	)		(56,~~330~~018	)		(6469,~~646~~552	)
Cash flows from investing activities:
Cash flows from financing activities:
Proceeds from stock issuances		~~92,000~~-			-3,333			9297,~~000~~600
Borrowings from related party		-			5,330			15,330
Repayment(borrowings) from related party		-			-			-
Net cash provided by financing activities		~~92,000~~-			53,~~330~~333			~~107~~97,~~330~~600
Net increase (decrease) in cash		35,559			-			42,684
Net (decrease) increase in cash		(1,584	)		(2,685	)		28,048
Cash, beginning of the period		729,~~125~~632			-7,125			-
Cash, end of the period	$	4228,~~684~~048		$	-4,440		$	4228,~~684~~048
Supplement cash fowl information and non cash financing activities
Cash paid for:
Interest	$	-		$	-		$	-670
Income tax	$	-		$	-		$	-

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

GREEN CARBON TECHNOLOGIES CORP.

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

Notes to Condensed Financial Statements (Unaudited)

As of ~~March~~September 3130, 2010

1. Condensed financial statements

The accompanying ~~March~~September 3130, 2010 condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at ~~March~~ 31September 30, 2010 and 2009 and for all periods presented have been made. Certain information and footnote disclosures normally included in ~~consolidated~~ financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the Company's June 30, ~~2009~~2010 audited ~~consolidated~~ financial statements and related notes included in the Company’s most recent Form S10-1K as filed with the Securities and Exchange Commission (the “SEC”). The results of operations for periods ended ~~March~~September 3130, 2010 and 2009 are not necessarily indicative of the operating results for the full years.

2. Organization

~~Global Cooling~~Green Carbon Technologies Corp. (~~the~~ “Company”) was incorporated in the State of Nevada as Global Cooling Technologies Corp, a for-profit ~~Company~~company on July 3, 2008 and established a fiscal year end of June 30. It is a development-stage company. On July 26, 2010, the Company filed a Certificate of Amendment to Articles of Incorporation with the State of Nevada and changed its corporate name to Green Carbon Technologies Corp.

3. Convertible note due to related party

As of ~~March~~ 31September 30, 2010, convertible note due to related party consist of the following:

~~Issued date~~

Issued date

~~Maturity~~

Maturity

~~Conversion price~~

Conversion price

Amount

~~Amount~~

Debt discount

~~Debt discount~~

Accrued interest

~~Accruedinterest~~Net amount

~~Net amount~~

Convertible Note 1

~~May 29, 2009~~

May 29, 2009

~~On demand~~

On demand

$0.10

~~15,330~~

997

~~1,598~~997

~~16,928~~

Convertible Note 1 for $15,000 was issued on May 29, 2009 to David Rendina, our ~~Chairman,~~ President, Chief Executive Officer, Secretary, and ~~Secretary~~Chairman of the Board of Directors and, at the time, sole shareholder for cash advanced to the Company. The note is due upon demand by the holder and accrued interest monthly at Twelve Percent (12%) per annum. Mr. Rendina, at his sole discretion, may elect, at any time, to convert all or a portion of the debt together with accrued interest into shares of the Company’s Common Stock at $0.10 per share. The beneficial conversion feature was calculated to be zero at the time of issuance in accordance with ~~FASB Emerging~~Codification ~~Issue~~topic ~~Task Force (“EITF”) No 00~~470-2720. In addition, Mr. Rendina directly paid a $330 Company expense. ~~The Company has accrued interest of $1,598 at March 31, 2010.~~ On April 2, 2010, $16,000 was paid to Mr. Rendina on the convertible demand note. The Company has unpaid accrued interest of $997 at September 30, 2010.

4. Related party transaction

David Rendina has served as President, Chief Executive Officer, and Secretary of our company from July 3, 2008 (inception) to the current date. On July 8, 2008, the pursuant to a Stock Subscription Agreement Mr. Rendina agreed to act as our President and Chief Executive Officer for a term of one year beginning July 8, 2008, in exchange for 10,000 shares of the Company’s Common Stock.

On September 15, 2009, pursuant to a Stock Subscription Agreement Mr. Rendina purchased 33,333 shares on the Company’s Common Stock registered under the Company’s Form S-1 for a cash payment of $3,333.

On February 10 and February 23, 2010, pursuant to two Stock Subscription Agreements Legacy Industries Inc. (“Legacy”) purchased 360,000 and 160,000 shares on the Company’s Common Stock registered under the Company’s Form S-1 for a cash payment of $26,000 and $16,000, respectively. Mr. Rendina is the sole shareholder of Legacy.

GREEN CARBON TECHNOLOGIES CORP.

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

Notes to Condensed Financial Statements (Unaudited)

As of ~~March~~September 3130, 2010

4. Related party transaction ~~(continued)~~

AsDavid ~~of March~~Rendina 31has served as President, ~~2010~~Chief Executive Officer, anand ~~aggregate~~Chairman of ~~563,333~~the ~~shares~~Board orof ~~60.6%~~Directors of ~~the~~our Company’s ~~Common Stock~~from isJuly ~~held~~3, by2008 ~~Mr.~~(inception) ~~Rendina~~to ~~and~~the ~~Legacy~~current ~~Industries~~date ~~Inc. Subsequently, in~~and ~~April~~as ~~and~~Secretary ~~May~~from ~~2010~~July ~~(see~~3, ~~Note~~2008 6(inception) anto ~~aggregate~~November ~~of 34~~19,~~150~~ ~~shares~~2009. On ofJuly 8, 2008, the ~~Company’s~~ ~~common~~pursuant to a Stock ~~were~~Subscription ~~issued~~Agreement Mr. Rendina agreed to ~~other~~act ~~individuals~~as our President and Chief Executive Officer for ~~cash~~a ~~consideration reducing~~term ~~Mr.~~of ~~Rendina’s~~one ~~ownership~~year tobeginning ~~58.~~July 8%, of2008, ~~the~~in ~~then~~exchange ~~issued~~for ~~and~~200,000 ~~outstanding~~ shares of ~~common~~the ~~stock~~Company’s Common Stock.

On ~~February~~ 14May 29, ~~2010~~2009, ~~Legacy~~the ~~was~~Company ~~reimbursed~~executed ana ~~aggregate~~convertible ofnote ~~$15~~with David Rendina,~~950~~ ~~for~~our ~~management services~~President, ~~($13~~Chief Executive Officer,~~450)~~ Secretary, and ~~office~~Chairman ~~expenses~~of ~~($2~~the Board of Directors and,~~500)~~ ~~provided~~at the time, sole shareholder, in ~~support~~the amount of $15,000 for cash advanced to the Company. The ~~during~~note is due upon demand by the ~~period~~holder ~~September~~and 8,accrued ~~2009~~interest tomonthly ~~February~~at ~~14, 2010~~Twelve Percent (12%) per annum. ~~Payment~~Mr. Rendina, at his sole discretion, may elect, at any time, to ~~Legacy~~convert ~~was~~all ~~contingent~~or ona portion of the ~~Company~~debt ~~raising~~together ~~an aggregate~~with ofaccrued ~~$75,000~~interest ~~from~~into ~~the~~shares ~~sale~~of the Company’s Common Stock at $0.10 per share. The beneficial conversion feature was calculated to be zero at the time of issuance in accordance with Codification topic 470-20. In addition, ~~which~~Mr. Rendina directly paid a $330 Company expense. On April 2, 2010, $16,000 was ~~achieved~~ paid to Mr. Rendina on ~~October~~the ~~23,~~convertible ~~2009~~demand note. NoThe ~~further~~Company ~~payments~~has ~~are~~unpaid ~~due~~accrued ~~Legacy~~interest as of ~~March~~$997 31at September 30, 2010.

5. Related party transaction

On September 15, 2009, pursuant to a Stock Subscription Agreement Mr. Rendina purchased 666,660 shares on the Company’s Common Stock registered under the Company’s Form S-1 for a cash payment of $3,333.

On November 19, 2009, Thomas E. Puzzo was elected Secretary of the Company. Prior to his election, Mr. Puzzo’s company the Law Offices of Thomas E. Puzzo, PLLC (“Puzzo PLLC”) served as the Company’s legal counsel. Puzzo PLLC was paid $2,500 and $2,500 for legal services provided to the Company during November and for the period December 1, 2009 to February 28, 2010, respectively. There are no unpaid fees owed to Puzzo PLLC.

On February 10 and February 23, 2010, pursuant to two Stock Subscription Agreements Legacy Industries Inc. (“Legacy”) purchased 7,200,000 and 3,200,000 shares on the Company’s Common Stock registered under the Company’s Form S-1 for a cash payment of $26,000 and $16,000, respectively. Mr. Rendina is the sole shareholder of Legacy.

As of September 30, 2010, an aggregate of 11,266,660 shares or 57.1% of the Company’s Common Stock is held by Mr. Rendina and Legacy Industries Inc.

GREEN CARBON TECHNOLOGIES CORP.

(A Development Stage Company)

Notes to Condensed Financial Statements (Unaudited)

As of September 30, 2010

5. Related party transaction (continued)

On February 14, 2010, Legacy was reimbursed an aggregate of $15,950 for management services ($13,450) and office expenses ($2,500) provided in support of the Company during the period September 8, 2009 to February 14, 2010. Payment to Legacy was contingent on the Company raising an aggregate of $75,000 from the sale the Company’s Common Stock, which was achieved on February 10, 2010. No further payments are due Legacy as of September 30, 2010.

On February 15, 2010, Legacy and their subcontractors completed a study and submitted their final report on a piece property (the “Recomp Site”) identified for potential acquisition by the Company; discussions with the owner are ongoing. Legacy was paid a fixed fee of $10,000 for their services.

Also on February 15, 2010, Legacy and their subcontractors completed a study and submitted their final report on potential intellectual property (“IP”) in support of the Company’s ~~indented~~intended business (the “IP Study”). Subsequently, the Company has identified a selection of IP for acquisition and discussions with the IP holders are ongoing. Legacy was paid a fixed fee of $10,000 for their services.

56. Going ~~Concern~~concern

To date the Company has no operations or revenues and consequently has incurred recurring losses from operations. No revenues are anticipated until we complete the financing from our Form S-1 registration statement filed with the SEC and effective on September 8, 2009 (the “Form S-1 Registration Statement”) and implement our initial business plan. The ability of the Company to continue as a going concern is dependent on raising capital to fund our business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern.

The Company has funded its initial operations by way of loans from Mr. Rendina its President, Chief Executive Officer, ~~Secretary,~~ and Chairman of the Board of Directors. Mr. Rendina has verbally committed to advancing certain operating costs of the Company if no other proceeds are obtained by the Company. However, there is no contract in place or written agreement securing this understanding with Mr. Rendina.

The Company plans to raise additional funds through debt or equity offerings. The current plan includes the sale of 1,000,000 shares at $0.10 per share based on the Company’s Form S-1 Registration Statement.

There is no guarantee that the Company will be able to raise any capital through this or any other offerings.

~~6. Stock Issuances~~11

GREEN CARBON TECHNOLOGIES CORP.

On September 15, 2009, pursuant to the terms of a stock subscription agreement, the Company issued to David Rendina, our President, Chief Executive Officer, Secretary, and Chairman of the Board of Directors, 33,333 shares of the Company’s Common Stock at $0.10 per shares for cash consideration of $3,333. The shares were issued pursuant to the Company’s Form S-1 Registration Statement.

On October 7, 2009, pursuant to the terms of two stock subscription agreements, the Company issued to James and Victoria Bickel 33,333 shares and Jeffrey E Bickel 33,333 shares of the Company’s Common Stock at $0.10 per shares for cash consideration aggregating $6,667. The shares were issued pursuant to the Company’s Form S-1 Registration Statement.

GLOBAL COOLING TECHNOLOGIES CORP.

(A Development Stage Company)

Notes to Condensed Financial Statements (Unaudited)

As of ~~March~~September 3130, 2010

67. Capital ~~Stock Issuances (continued)~~stock

~~On October~~The ~~19,~~Company’s ~~2009,~~capitalization ~~pursuant~~is to100,000,000 ~~the~~shares ~~terms~~ of acommon stock, ~~subscription~~with ~~agreement,~~a ~~the Company~~par ~~issued~~value toof ~~the~~$0.00001 ~~Villanueva~~per ~~Living~~share, ~~Trust~~and ~~100~~25,000,000 ~~restricted~~ shares of ~~the Company’s~~preferred ~~Common~~stock, ~~Stock~~with ata par value of $0.1000001; ~~per~~with ~~share~~19,719,980 ~~for~~and ~~cash~~zero ~~consideration of $10,000. The~~ shares ~~were~~ issued ~~pursuant~~and tooutstanding ~~the~~at ~~Company’s~~September ~~Form~~30, ~~S-1 Registration~~2010, ~~Statement~~respectively.

On ~~October~~ 22July 26, ~~2009~~2010, ~~pursuant to~~ the ~~terms~~Company offiled a ~~stock~~Certificate ~~subscription~~of ~~agreement,~~Change with the ~~Company~~ ~~issued~~State of Nevada to ~~Robert~~exchange each issued and ~~Carolyn~~outstanding ~~Niland~~share ~~200,000~~of common stock for twenty shares of ~~the~~common ~~Company’s Common~~stock ~~Stock~~in ata $020 for 1 forward stock split.10 There ~~per~~is ~~share~~no ~~for~~change ~~cash~~in ~~consideration~~the number of ~~$20,000~~ shares of common stock authorized or stated par value. ~~The~~All ~~shares~~share ~~were~~numbers ~~issued~~have ~~pursuant~~been retroactively adjusted for all periods presented give effect to the ~~Company’s~~20 ~~Form~~for S-1 ~~Registration~~ ~~Statement~~forward stock split.

On February 10, 2010, pursuant to the terms of a stock subscription agreement, the Company issued to the Legacy, a company wholly owned by Mr. Rendina our President and Chief Executive Officer, 360,000 shares of the Company’s Common Stock at $0.10 per share for cash consideration of $36,000. The shares were issued pursuant to the Company’s Form S-1 Registration Statement.12

On February 23, 2010, pursuant to the terms of a stock subscription agreement, the Company issued to the Legacy, a company wholly owned by Mr. Rendina our President and Chief Executive Officer, 160,000 shares of the Company’s Common Stock at $0.10 per share for cash consideration of $16,000. The shares were issued pursuant to the Company’s Form S-1 Registration Statement.

7. Subsequent Events

During April 2010, the Company issued an aggregate of 23,150 shares of the Company’s Common Stock at $0.10 per share for cash consideration of $2,300 and a stock subscription receivable of $15. The shares were issued pursuant to the Company’s Form S-1 Registration Statement.

During May 2010, the Company issued an aggregate of 12,000 shares of the Company’s Common Stock at $0.10 per share for cash consideration of $1,200. The shares were issued pursuant to the Company’s Form S-1 Registration Statement.

The Company has evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission. The Company has determined that except for Note 7, there were no such events that warrant disclosure or recognition in the financial statements.

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

The following information should be read in conjunction with (i) the ~~condensed~~ consolidated financial statements of ~~Global~~Green ~~Cooling~~Carbon Technologies Corp., (Aa ~~Development~~Nevada ~~Stage Company)~~corporation and development stage company, and the notes thereto appearing elsewhere in this Form 10-Q together with (ii) the more detailed business information and the ~~June~~October 3031, ~~2009~~2010 audited financial statements and related notes included in the Company’s most recent Annual Report on Form S10-1K (File No. 333-160366), as filed with the Securities and Exchange Commission. on October 13, 2010. Statements in this section and elsewhere in this Form 10-Q that are not statements of historical or current fact constitute “forward-looking” statements

OVERVIEW

~~Global Cooling~~Green Carbon Technologies Corp. (~~the~~ “Company”) was incorporated in the State of Nevada on July 3, 2008 and established a fiscal year end of June 30. It is a development-stage Company.

Going Concern

To date the Company has ~~nominal~~no operations, ~~beginning~~or ~~its feasibility studies, and no~~ revenues and consequently has incurred recurring losses from operations. No revenues are anticipated until we complete the financing ~~from~~described in our Form S-1 registration statement filed with ~~the SEC~~ and declared effective by the SEC on September 89, 2009 (the “Form S-1 Registration Statement”) and implement our initial business plan. The ability of the Company to continue as a going concern is dependent on raising capital to fund our business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern.

The Company ~~has~~plans ~~funded~~to ~~its~~raise ~~initial~~additional ~~operations~~funds bythrough ~~way~~debt ofor ~~loans~~equity ~~from Mr~~offerings. The ~~Rendina~~Company ~~its President,~~has ~~Chief~~actively ~~Executive~~attempted ~~Officer,~~to ~~Secretary,~~raise ~~and~~funds ~~Chairman~~by way of ~~the~~a ~~Board~~joint ~~of Directors.~~project ~~Mr.~~with ~~Rendina~~several ~~has~~operating ~~verbally~~energy ~~committed~~companies, tothough ~~advancing~~such ~~certain~~efforts ~~operating costs~~have ofnot ~~the~~resulted ~~Company~~in ifany noagreement. There ~~other~~is ~~proceeds~~no ~~are~~guarantee ~~obtained~~that by the Company. ~~However, there~~will isbe noable ~~contract~~to inraise ~~place~~any orcapital ~~written~~through ~~agreement~~any ~~securing~~debt ~~this~~or ~~understanding with~~equity Mrofferings. ~~Rendina.~~

There is no guarantee that the Company will be able to raise any capital through this or any other offerings.

CRITICAL ACCOUNTING POLICIES

The discussion and analysis of our financial condition and results of operations are based on our condensed financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”). The preparation of these condensed financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. We have identified the policies below as critical to our business operations and to the understanding of our financial results:

Basis of Presentation

The Company reports revenues and expenses using the accrual method of accounting in accordance with accounting principles generally accepted in the United States (“US GAAP”) for financial and tax reporting purposes.

1213

Cash and Cash Equivalent

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

Fair Value of Financial Instruments

SFAS No. 107, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments when it is practicable to estimate that value. The carrying amounts of the Company’s financial instruments as of September 30, and June 30, 2009 approximate their respective fair values because of the short-term nature of these instruments. Such instruments consist of cash, accounts receivable, accounts payable, due to related parties, short-term convertible and term debt, and accrued and other liabilities.

Foreign Currency Translation

The financial statements are presented in United States dollars. In accordance with ~~SFAS~~ ~~No.~~Accounting 52Standards Codification “ASC 830”, “Foreign Currency Translation”, foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Non-monetary assets and liabilities are translated at exchange rates prevailing at the transaction date. Revenue and expenses are translated at average rates of exchange during the periods presented. Related translation adjustments are reported as a separate component of stockholders’ equity (deficit), whereas gains or losses resulting from foreign currency transactions are included in results of operations.

Convertible Debt

In accordance with the provisions of EITF No. 98-5 “Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios” and EITF No. 00-27 “Application of Issue No. 98-5 to Certain Convertible Instruments” (“EITF 00-27”) the Company evaluates debt securities (“Debt”) for beneficial conversion features. A beneficial conversion feature is present when the conversion price per share is less than the market value of the common stock at the commitment date. The intrinsic value of the feature is then measured as the difference between the conversion price and the market value (the “Spread”) multiplied by the number of shares into which the Debt is convertible and is recorded as debt discount with an offsetting amount increasing additional paid-in-capital. The debt discount is accreted to interest expense over the term of the Debt with any unamortized discount recognized as interest expense upon conversion of the Debt. If a debt security contains terms that change upon the occurrence of a future event the incremental intrinsic value is measured as the additional number of issuable shares multiplied by the commitment date market value and is recognized as additional debt discount with an offsetting amount increasing additional paid-in-capital upon the future event occurrence. The total intrinsic value of the feature is limited to the proceeds allocated to the Debt instrument.

Income Taxes

The Company follows the liability method of accounting for income taxes in accordance with Statements of Financial Accounting Standards (“SFAS”) No.109, “Accounting for Income Taxes” and clarified by FIN 48 “Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109.” Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax balances. Deferred tax assets and liabilities are measured using enacted or substantially enacted tax rates expected to apply to the taxable income in the years in which those differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the date of enactment or substantive enactment.

Uncertain Tax Positions

FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes, an interpretation of FASB Statements No. 109” (“FIN 48”). FIN 48 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. FIN 48 clarifies the accounting for uncertainty in income taxes by prescribing a two-step method of first evaluating whether a tax position has met a more-likely-than-not recognition threshold and second, measuring that tax position to determine the amount of benefit to be recognized in the financial statements. FIN 48 provides guidance on the presentation of such positions within a classified statement of financial position as well as on derecognition, interest and penalties, accounting in interim periods, disclosure, and transition. FIN 48 did not have a material effect on the Company's financial statements.

Use of Estimates

Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Stock-Based Compensation

The Company has not adopted a stock option plan and has not granted any stock options. Accordingly no stock-based compensation has been recorded to date.

Share Based Expenses

In December 2004, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 123R, “Share Based Payment.” This statement is a revision to SFAS 123 and supersedes Accounting Principles Board (APB) Opinion No. 25, “Accounting for Stock Issued to Employees,” and amends FASB Statement No. 95, “Statement of Cash Flows.” This statement requires a public entity to expense the cost of employee services received in exchange for an award of equity instruments. This statement also provides guidance on valuing and expensing these awards, as well as disclosure requirements of these equity arrangements. The Company adopted SFAS No. 123R upon creation of the company and expenses share based costs in the period incurred.

Basic and Diluted Net Loss Per Share

Basic loss per share includes no dilution and is computed by dividing loss available to common stockholders by the weighted average number of common shares outstanding for the period. Dilutive loss per share reflects the potential dilution of securities that could share in the losses of the Company.

Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share.

~~RESULTS~~ PLAN OF ~~OPERATIONS~~OPERATION

~~Nine~~ Our plan of operation for the twelve months following this quarter is to complete the second and third phases of the three phased exploration program on our claim. Phase I of the Company’s development program (technical and economic feasibility studies of potential IP and real property acquisitions) was completed during the fiscal year ended ~~March~~June 3130, 2010. Phases ~~compared~~II and III require the Company to ~~nine~~ ~~months~~raise ~~ended~~approximately ~~March~~$39,400,000. The 31Company plans to raise additional funds through debt or equity offerings. The Company has actively attempted to raise funds by way of a joint project with several operating energy companies, ~~2009~~ though such efforts have not resulted in any agreement. There is no guarantee that the Company will be able to raise any capital through any debt or equity offerings.

GENERAL AND ADMINISTRATIVE EXPENSES

For the nine months ended March 31, 2010, general and administrative expenses, which includes consulting and professional fees, were $56,921 compared to $5,330 for the nine months ended March 31, 2009. The increase in total general and administrative expenses was primarily attributable to management and professional fees.

~~OTHER INCOME~~Phases ~~AND~~II ~~EXPENSES~~and III of the Company’s development program are as follows:

Total other income and expense increased to a net expense of $1,407 for nine months ended March 31, 2010 as compared to a net expense of zero for the nine months ended March 31, 2009. The increase in net expense is attributed to the accrual of interest expense on a convertible note due to a related party.

Phase	Development Program	Cost		Status

Phase II	Complete property purchase agreement, and develop detailed engineering and business operating contracts.	$	8,900,000	Expected to be completed in April 2012

Phase III	Final design and request for proposals from subcontractors and equipment manufacturers. Construction of facility and demonstration of GHG technology	$	30,500,000	Expected to be completed by Summer 2013

~~OVERALL~~We will require additional funding to commence Phases II and III of our development program. We cannot provide any assurance that we will be able to raise sufficient funds to commence Phases II and III of our development program.

~~We reported~~The aabove ~~net~~program ~~loss~~costs ~~for~~are ~~the~~management’s ~~nine~~estimates ~~months~~and ~~ended March 31, 2010 of $58,328 compared to a net loss for~~ the ~~nine~~actual ~~months~~project ~~ended~~costs ~~March~~may ~~31,~~exceed ~~2009~~our ~~of $5,330~~estimates. ~~This translates~~To ~~to an overall basic and diluted per-share loss available to shareholders of $0.17 for the nine months ended March 31~~date, ~~2010~~we ~~compared~~have ~~$0.54 for~~not ~~the~~commenced ~~nine~~activities ~~months ended March 31, 2009 based~~ on ~~333,493~~ ~~and 9,815 weighted~~Phase ~~average~~II ~~common~~or ~~shares outstanding, respectively~~III.

~~LIQUIDITY AND~~Results ~~CAPITAL~~of ~~RESOURCES~~Operations

~~The Company~~We ~~has~~have ~~financed~~generated ~~its~~no ~~operations~~revenues ~~primarily~~since ~~through~~inception ~~the~~and ~~advance~~have ofincurred ~~funds by Mr. Rendina~~$70,685 ~~Rendina,~~in ~~our~~expenses ~~Chairman,~~from ~~President,~~inception ~~Chief~~through ~~Executive~~September ~~Officer and Secretary~~30, a2010. These ~~related~~expenses ~~party~~were ~~and~~comprised ~~the sale~~ of ~~equity~~consulting ~~securities.~~and ~~Overall~~professional fees, ~~our liquidity~~ and ~~access~~general toand ~~capital~~administrative iscosts. ~~very~~We ~~limited;~~incurred weexpenses ~~have~~of ~~not~~$201 ~~received~~and ~~any commitment~~$7,270 for ~~additional financing and given~~ the ~~size~~three ofmonth ~~our~~periods ~~company~~ended weJune ~~may~~30, ~~be limited~~2010 toand ~~(i)~~2009, ~~the~~respectively. Our ~~sale~~net ofloss ~~the~~since ~~Company’s~~inception ~~Common~~(July ~~Stock or the issuance of convertible notes~~3, ~~(ii~~2008) ~~other~~through ~~debt~~September ~~instruments~~30, or2010 ~~(iii)~~was ~~additional advances of funds from Mr~~$70,685. ~~Rendina. Mr. Rendina is under no obligation to advance additional funds to the Company.~~

~~Liquidity is~~The ~~the~~following ~~ability~~table ofprovides aselected ~~company~~financial todata ~~generate~~about ~~funds to support its current and future operations, satisfy its obligations and otherwise operate on an ongoing basis. During nine months ended March 31, 2010 and 2009 cash used in~~ our ~~operating~~company ~~activities~~for ~~was $56,441 and $5,330, respectively. We funded our operating activities during~~ the ~~nine~~period ~~months~~ ended ~~March~~January 31, ~~2010 with cash reserves in addition to the following resources and during the nine months ended March 31,~~ 2009 ~~with the following resources:~~.

		March 30,		March 31,
Balance Sheet Data:	September 30, 2010
		2010		2009
Cash		$28,048
Funds advanced by Mr. Rendina under revolving convertible note dated May 29, 2009		$	-	$	5,330
Total assets		$28,048
Proceeds from stock issuances			92,000		-
Total liabilities		$1,133
Total		$	92,000	$	5,330
Shareholders’ equity		$26,915

AtLiquidity ~~March 31,~~and ~~2010,~~Capital we had a cash balance of $42,684 compared to $7,125 at June 30, 2009, an increase of $35,559. At March 31, 2010, our working capital was $25,314 as compared to working capital deficit $8,358 at March 31, 2009. Our current assets consist only of cash.Resources

~~Our current~~At ~~liabilities~~September ~~consisted~~30, ~~primarily~~2010, we had a cash balance of $1628,~~928~~048. We ~~due~~do not have sufficient cash on hand to Mrcommence Phase II of our plan of operation or to fund our ongoing operational expenses beyond 12 months. We ~~Rendina~~will need to raise funds to commence our Phase II of our plan of operation and ~~$442~~ fund our ongoing operational expenses. Additional funding will likely come from equity financing from the sale of our common stock or sale of part of our interest in ~~accounts~~our ~~payable~~mineral claims. If we are successful in completing an equity financing, existing shareholders will experience dilution of their interest in our Company. We do not have any financing arranged and we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our plan of operation and ongoing operational expenses.

If we are to implement our business plan, we will need to raise significant amounts of additional capital during the period ending June 30, 2010. We have not received any commitment that any such additional financing would be forthcoming. Accordingly, there can be no assurance that the Company will be successful in selling equity or securing debt financing, or that any combination thereof will be sufficient to meet our capital needs or, if it could be obtained, that it can be obtained on reasonable terms in light of our circumstances at that time. In addition, if any financing should be obtained, existing shareholders will likely incur substantial, immediate, and permanent dilution of their existing investment. (See also “PLAN OF OPERATION”)

RECENT ACCOUNTING PRONOUNCEMENTS

Accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

~~Plan~~In the absence of ~~Operation~~ such financing, our business will likely fail. There are no assurances that we will be able to achieve further sales of our common stock or any other form of additional financing. If we are unable to achieve the financing necessary to continue our plan of operation, then we will not be able to continue our business, commence Phase II and our business will fail.

Our cash balance is $42,684 as of March 31, 2010. We believe our cash balance is not sufficient to fund our limited levels of operations for any period of time. We have been utilizing and may utilize funds from David Rendina, our Chairman, President and Chief Executive Officer, and Secretary, who has informally agreed to advance funds to allow us to pay for offering costs, filing fees, and professional fees. Mr. Rendina, however, has no formal commitment, arrangement or legal obligation to advance or loan funds to the company. In order to achieve our business plan goals, we will need the funding from this offering and substantial additional funding. We are a development stage company and have generated no revenue to date.

Our independent registered public accountant has issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated revenues and no revenues are anticipated until we complete our initial business development. There is no assurance we will ever reach that stage.

Our plan of operation for the twelve months following the date of this prospectus is to conduct further research on real and intangible properties that may be available for acquisition, retain personnel with the required skills and develop our financial models. Total expenditures over the next 12 months are therefore expected to exceed the sum of both our cash on hand and amount to be raised in this offering. If we experience such a shortage of funds prior to funding during the next 12 months, we may utilize funds from David Rendina, our sole officer and director, who has informally agreed to advance funds to allow us to pay for professional fees, including fees payable in connection with the filing of this registration statement and operation expenses, however he has no formal commitment, arrangement or legal obligation to advance or loan funds to the company. We will require the funds from this offering to proceed.

If we are successful in raising the funds from this offering, we plan to commence activities to raise the funds required for the development program. We cannot provide investors with any assurance that we will be able to raise sufficient funds to proceed with any work or activities of the development program. We plan to raise additional funding for development by way of a private debt or equity financing, but have not commenced any activities to raise such funds.

Since we are a development stage company, any estimates by management are negligible at this time as actual project costs would likely exceed any such estimates. To date, we have not commenced with any activities or operations of any phase of our development program.

Our plan of operation is divided into four phases, as follows: (I) retain, on a consulting basis, engineers to conduct technical and economic feasibility studies of sites for construction of the first GHG technology support facility, (II) negotiate an option to purchase agreement and exercise the option with a suitable real property owner or technology developer, retain, on a consulting basis, engineers to design the first GHG reduction support facility and request for proposals from subcontractors and equipment manufacturers for the construction of the first GHG reduction plant, and (III) construct a GHG reduction support facility. We have begun discussions with an engineering firm to engage in technical and economic feasibility studies but have not yet commenced any other operations or activities.

Our plan of operation for the twelve months following the date of this prospectus is to (i) complete Phase I of our program, which is to develop our business models, and conduct technical and economic feasibility studies of sites for construction of the first facility, and available intellectual property, and (ii) complete Phase II of our program, which is to negotiate and enter into a purchase agreement with a real property owner and/or an intellectual property purchase agreement with a technology development company, complete detailed engineering plans for the GHG technology demonstration facility and develop contracts, agreements and licenses based on our business models . In addition to the $8,500,000 we anticipate spending for Phase I and II for the development program as outlined below, we anticipate spending an additional $500,000 on professional and administrative fees, including fees payable in connection with the filing of this registration statement, complying with reporting obligations and arranging financing for Phase I and II of our development program. Total expenditures over the next 12 months are therefore expected to be approximately $9,000,000 - $100,000 of which is the amount to be raised in this offering. If we experience a shortage of funds prior to funding during the next 12 months, we may utilize funds from David Rendina, our Chairman of the Board of Directors, who has informally agreed to advance funds to allow us to pay for professional fees, including fees payable in connection with the filing of this registration statement and operation expenses, however he has no formal commitment, arrangement or legal obligation to advance or loan funds to the company. We will require the funds from this offering to proceed.

If we are successful in raising the funds from this offering, we plan to commence activities to raise the $2,900,000 cash funds from the sale of equity and $6,000,000 in debt required for Phase II of the development program in fall 2010. We expect that fundraising for this phase to take 30-90 days to complete and an additional 9 to 12 months for engineers, lawyers, accountants, and property development experts to conduct detailed technical and economic studies related to the intangible property and/or sites for construction of the first GHG facility. We cannot provide investors with any assurance that we will be able to raise sufficient funds to proceed with any work or activities on Phase I of the development program.

The above program costs are management’s estimates and the actual project costs may exceed our estimates. To date, we have not commenced with any activities or operations of any Phase of our development program.

Following Phase I of the development program, if it proves successful, in that engineers successfully conduct technical and economic feasibility studies on prospective IP and/or of sites for construction of first GHG facility, we intend, subject to financing, to proceed with Phase II of our development program. In Phase II we will negotiate and enter into terms of an option to purchase agreement to purchase real/and or intangible property identified in Phase I. Provided that the conditions of the option agreement can be met, we will exercise our option to purchase the property. Subsequent to our purchase we will complete detailed property development plans. The estimated cost of Phase II is $8,900,000 and is anticipated take approximately 12 months to complete. As with Phase I, we cannot provide investors with any assurance that we will be able to raise sufficient funds to proceed with any work or activities on Phase II of our development program. We plan to raise the additional funding for Phase II by way of a private debt or equity financing, but have not commenced any activities to raise such funds.

Following Phase II of the development program, if it proves successful, in that we successfully purchase selected real and/or intangible property, and complete the planned engineering and business development activities we intend to proceed with Phase III of our development program if we are able to raise the funds necessary. Phase III is to complete construction of a GHG reducing technology demonstration facility and demonstrate a technology that produces low GHG emissions. The estimated cost of Phase III is $30,500,000 and is estimated to take approximately 18 months to 2 years to complete. As with Phases I and II, we cannot provide investors with any assurance that we will be able to raise sufficient funds to proceed with any work or activities on Phase III of the development program, and we have no current plans on how to raise the additional funding.

We anticipate commencing Phase I of our program in September 2009. We will begin Phase II of our development program in January 2011, depending on whether Phase I program proves successful in establishing the technical and economic feasibility studies of the real and/or intangible property. Subject to financing, we anticipate commencing Phase III of our development program in 2012, depending on whether Phase II program proves successful in property purchase. As with Phases I and II, we will require additional funding to proceed with Phase III and we have no current plans on how to raise the additional funding.

DEVELOPMENT PROGRAM AND ESTIMATED COST

Phase	Development Program	Cost		Status
Phase I	Technical and economic feasibility studies for prospective IP and of sites for construction of first GHG technology demonstration facility.	$	100,000	Expected to be completed in June 2010 (dependent on consulting engineer’s schedule)
Phase II	Negotiate and enter into property purchase agreement, and complete detailed engineering and business development plans.	$	8,900,000	Expected to be completed in January 2011
Phase III	Final design and request for proposals from subcontractors and equipment manufacturers. Construction of demonstration facility and pre-commercial demonstration of GHG reduction technology.	$	30,500,000	Expected to be completed by Spring 2012

Subsequent Events

~~During April~~None ~~2010,~~through ~~the~~date ~~Company issued an aggregate~~ of ~~23,150~~this ~~shares of the Company’s Common Stock at $0~~filing.~~10 per share for cash consideration of $2,300 and a stock subscription receivable of $15. The shares were issued pursuant to the Company’s Form S-1 Registration Statement.~~

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

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

ITEM 4. CONTROLS AND PROCEDURES.

DISCLOSURE CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, our principal executive officer and our principal financial officer are responsible for conducting an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as of the end of the fiscal year covered by this report. Disclosure controls and procedures means that the material information required to be included in our Securities and Exchange Commission reports is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms relating to our company, including any consolidating subsidiaries, and was made known to us by others within those entities, particularly during the period when this report was being prepared. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were effective as of ~~March~~September 3130, 2010.

There were no changes in the Company’s internal controls over financial reporting during the most recently completed fiscal quarter that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

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

ITEM 1A. RISK FACTORS.

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

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

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. (REMOVED ~~SUBMISSION~~AND ~~OF MATTERS TO A VOTE OF SECURITY HOLDERS~~RESERVED).

None.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.

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

Number		Description

3.1		Articles of Incorporation*
3.2		Bylaws*
31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

*Filed ~~as an~~and ~~Exhibit~~incorporated by reference to the Company’s Registration Statement on Form S-1, as amended (File No. 333-160366), as filed with the Securities and Exchange Commission on July 1, 2009.

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 COOLING TECHNOLOGIES CORP.
	GREEN CARBON TECHNOLOGIES CORP.
	(Name of Registrant)
Date: May 24, 2010	By:	/s/ David Rendina
Date: November 19, 2010	By:	/s/ David Rendina
		Name: David Rendina
		Title: President and Chief Executive Officer

1918

EXHIBIT INDEX

Number		Description
3.1		Articles of Incorporation*
3.2		Bylaws*
31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

*Filed as an Exhibit to the Company’s Registration Statement on Form S-1, as amended (File No. 333-160366), as filed with the Securities and Exchange Commission on July 1, 2009.

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