UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

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

For the quarterly period ended ~~March~~June 3130, 2016

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

For the Transition Period ~~From_______~~From ___________ to ~~_______~~___________

333-179669 ~~Commission file number~~

Commission file number

NEW GLOBAL ENERGY, INC.

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

Wyoming		45-4349842
(State of incorporation)		(IRS Employer Identification Number)

109 East 17th StreetSuite ~~4217Cheyenne, WY 82001 (Address of principal executive office)~~4217

~~(307)~~Cheyenne, ~~633-9192~~WY ~~(Issuer's telephone number)~~82001

(Address of principal executive office)

(307) 633-9192

(Issuer's telephone number)

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

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ~~Yes~~ ¨ No

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x
(Do not check if a smaller reporting company)

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

PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements-unaudited	3
	Condensed Consolidated Balance Sheets as of March 31, 2016 (unaudited) and December 31, 2015	3
	Condensed Consolidated Statements of Operations for the Three Month Periods Ended March 31, 2016 and March 31, 2015 (unaudited)	4
	Condensed Consolidated Statement of Stockholders' Equity for the period ended March 31, 2016 (unaudited)	5
	Condensed Consolidated Statements of Cash Flows for the Three Month Periods Ended March 31, 2016 and March 31, 2015 (unaudited)	6
	Notes to Condensed Consolidated Financial Statements (unaudited)	7
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	22
Item 4.	Controls and Procedures	22
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings.	23
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	23
Item 3.	Defaults Upon Senior Securities	23
Item 4.	Mine Safety Disclosures	23
Item 5.	Other Information	23
Item 6.	Exhibits	24
Signatures		25

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Common Stock, par value $.0001 per share 14,116,582 outstanding shares as of September 11, 2016.

2NEW GLOBAL ENERGY, INC. AND SUBSIDIARY

FORM 10-Q

June 30, 2016

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION

Item 1.	Financial Statements	3

	Condensed Consolidated Balance Sheets as of June 30, 2016 (unaudited) and December 31, 2015	3

	Condensed Consolidated Statements of Operations for the Three and Six Month Ended June 30, 2016 and 2015 (Unaudited)	4

	Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2016 and 2015 (Unaudited)	5

	Condensed Notes to Unaudited Consolidated Financial Statements	6

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	19

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	22

Item 4.	Controls and Procedures	23

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings.	24

Item 1A.	Risk Factors	24

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	24

Item 3.	Defaults Upon Senior Securities	24

Item 4.	Mine Safety Disclosures	24

Item 5.	Other Information	24

Item 6.	Exhibits	24

Signatures		25

Table of Contents

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

New Global Energy, Inc.Condensed Consolidated Balance Sheets

NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS

	As of
	June 30, 2016			December 31, 2015
ASSETS	(Unaudited)

CURRENT ASSETS:
Cash	$	14,252		$	124,746
Accounts receivable		18,824			2,373
Inventory		189,866			8,937
Deferred commissions - related party		834,168			370,740

Total Current Assets		1,057,110			506,796

Property and equipment, net		4,414,260			4,646,151

OTHER ASSETS:
Goodwill		3,680,283			3,680,283
Deposits		21,238			6,981

Total Other Assets		3,701,521			3,687,264

Total Assets	$	9,172,891		$	8,840,211

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
Bank overdraft	$	1,573		$	-
Accounts payable		152,848			342,588
Accrued expenses		265,629			181,163
Accrued expenses - related parties		814,260			474,116
Notes payable - related parties		187,936			261,936
Notes payable - current portion		781,884			824,575
Derivative liability		-			10,935
Accrued loss on presold fish		600,492			-
Deferred revenue		2,039,788			881,218

Total Current Liabilities		4,844,410			2,976,531

OTHER LIABILITIES:
Notes payable - net of current portion		64,981			86,569

Total Liabilities		4,909,391			3,063,100

COMMITMENTS AND CONTINGENCIES (Note 6)

STOCKHOLDERS' EQUITY:
Equity attributable to owners of the company:
Preferred stock ($0.0001 par value; 25,000,000 shares authorized; 21,100 and 20,000 shares issued and
outstanding at June 30, 2016 and December 31, 2015, respectively; liquidation preference of $3,165,000)		2			2
Common stock ($0.0001 par value; 100,000,000 shares authorized; 13,961,582 and 13,861,582
shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively)		1,396			1,386
Additional paid-in capital		43,990,280			43,013,191
Common stock subscription receivable - related party		(353,200	)		(353,200	)
Accumulated deficit		(39,427,256	)		(36,950,311	)
Total equity attributable to owners of the company		4,211,222			5,711,068
Non-controlling interest		52,278			66,043

Total Stockholders' Equity		4,263,500			5,777,111

Total Liabilities and Stockholders' Equity	$	9,172,891		$	8,840,211

	As ofMarch 31,2016			As ofDecember 31, 2015
	(unaudited)
Assets
Current assets:
Cash	$	192,933		$	124,746
Accounts receivable		-			2,374
Inventory		12,328			8,937
Deferred commissions - related party		705,536			370,740
Total current assets		910,797			506,797
Property and equipment, net		4,521,999			4,646,151
Other assets:
Goodwill		3,680,283			3,680,283
Deposits		21,238			6,981
Total other assets		3,701,521			3,687,264
Total Assets	$	9,134,318		$	8,840,211
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	354,477		$	342,588
Accrued expenses		146,136			118,948
Accrued expenses - related party		625,057			536,331
Notes payable - related parties		394,836			396,036
Notes payable - current portion		668,130			690,475
Derivative liability		6,907			10,935
Deferred revenue		2,190,759			881,218
Total current liabilities		4,386,303			2,976,531
Notes payable, net of current portion		73,616			86,569
Total liabilities		4,459,919			3,063,100
Commitments and contingincies
Stockholders' Equity:
Preferred stock-25,000,000 shares authorized $0.001 par value 20,000 shares issued and outstanding (liquidation preference of $3,000,000)		2			2
Common stock-100,000,000 shares authorized $0.0001 par value 13,961,582 shares oustanding and 13,861,582 issued, respectively		1,396			1,386
Additional paid-in capital		43,054,487			43,013,191
Common stock subscription receivable		(353,300	)		(353,200	)
Accumulated deficit		(38,090,341	)		(36,950,311	)
Total New Global Stockholders' equity		4,612,244			5,711,068
Non-controlling interest		62,155			66,043
Total stockholders' equity		4,674,399			5,777,111
Total Liabilities and Stockholders' Equity	$	9,134,318		$	8,840,211

See condensed notes to unaudited consolidated financial statements.

~~See~~3 ~~Notes~~Table toof ~~Unaudited Condensed Consolidated Financial Statements.~~Contents

NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015

REVENUES	$	26,715		$	9,391		$	39,803		$	29,638

COSTS AND EXPENSES:
Costs of goods sold		26,068			9,913			26,426			17,932
Depreciation		111,239			62,356			222,391			95,684
Management and other fees - related parties		1,044,926			35,000			1,290,230			116,851
Professional fees		77,788			15,148			204,830			81,706
Provision for loss on presold fish		127,940			-			600,492			-
Research and development		6,688			-			32,812			-
General and administrative		(30,552	)		98,274			115,223			188,471

Total Operating Costs and Expenses		1,364,097			220,691			2,492,404			500,644

LOSS FROM OPERATIONS		(1,337,382	)		(211,300	)		(2,452,601	)		(471,006	)

OTHER INCOME (EXPENSE):
Gain on derivative valuation		6,907			83,699			10,935			228,803
Interest expense		(16,317	)		(41,923	)		(36,044	)		(69,803	)
Loss on settlement of debt		-			-			-			(1,992,732	)
Loss on disposal of fixed asset		-			-			(13,000	)		-

Total Other Income (Expense), net		(9,410	)		41,776			(38,109	)		(1,833,732	)

LOSS BEFORE INCOME TAXES		(1,346,792	)		(169,524	)		(2,490,710	)		(2,304,738	)

Provision for income taxes		-			-			-			-

NET LOSS	$	(1,346,792	)	$	(169,524	)	$	(2,490,710	)	$	(2,304,738	)

NON-CONTROLLING INTEREST:
NET LOSS	$	(1,346,792	)	$	(169,524	)	$	(2,490,710	)	$	(2,304,738	)

LESS: NET LOSS ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST		9,877			185,673			13,765			226,633

NET (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY	$	(1,336,915	)	$	16,149		$	(2,476,945	)	$	(2,078,105	)

NET LOSS PER COMMON SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY
Basic and diluted	$	(0.10	)	$	0.00		$	(0.18	)	$	(0.16	)

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted		13,986,582			13,097,365			13,916,527			13,097,365

~~New~~See ~~Global~~condensed ~~Energy,~~notes ~~Inc.~~to ~~Condensed~~unaudited ~~Consolidated~~consolidated ~~Statements~~financial ~~of Operations (unaudited)~~statements.

	Three months ended March 31,2016			Three months ended March 31,2015
Revenue	$	13,088		$	20,247
Costs and Expenses:
Costs of goods sold		358			65,660
Depreciation		111,152			33,328
General and administrative - related party		245,304			-
General and administrative		298,942			180,966
Total Operating Costs and Expenses		655,755			279,954
Other (Income) Expense:
Gain on derivative valuation		(4,028	)		(145,104	)
Interest expense and amortization of debt discount		19,727			27,880
Loss on settlement of debt		-			1,992,732
Loss on disposal of asset		13,000			-
Loss on sale of future fish contracts		472,552			-
Total Other Expense, net		501,251			1,875,508
Loss before income taxes		(1,143,918	)		(2,135,215	)
Provision for income taxes		-			-
Net loss		(1,143,918	)		(2,135,215	)
Net loss attributable to non-controlling interest		3,888			40,960
Net loss attributable to New Global	$	(1,140,030	)	$	(2,094,255	)
Per share amounts attrubitable to New Global:
Basic and diluted	$	(0.08	)	$	(0.16	)
Weighted average number of share outstanding
Basic and diluted		13,870,471			13,097,365

Table of Contents

See Notes to Unaudited Condensed Consolidated Financial Statements.

NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

	For the Six Months Ended June 30,
	2016			2015

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(2,490,710	)	$	(2,304,738	)
Adjustments to reconcile net loss from operations to net cash
used in operating activities:
Gain on derivative valuation		(10,935	)		(228,803	)
Loss realized upon settlement of debt		-			1,992,732
Loss realized upon disposal of fixed asset		13,000			-
Depreciation		222,391			95,684
Stock based compensation and fees		896,567			-
Changes in operating assets and liabilities:
Accounts receivable		(16,451	)		3,661
Inventory		(180,929	)		37,043
Deferred commissions - related party		(463,428	)		-
Deposits		(14,257	)		-
Accounts payable		(189,740	)		59,957
Accrued expenses		84,466			(13,829	)
Accrued expenses - related party		348,576			-
Accrued loss on presold fish		600,492			-
Deferred revenue		1,158,570			-

NET CASH USED IN OPERATING ACTIVITIES		(42,388	)		(358,293	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(3,500	)		-

NET CASH USED IN INVESTING ACTIVITIES		(3,500	)		-

CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in bank overdraft		1,573			-
Proceeds from issuance of preferred/common stock		100			155,500
Proceeds from related party notes payable		-			259,800
Repayments of notes payable		(64,279	)		(73,504	)
Repayments on related party notes payable		(2,000	)		(2,000	)

NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES		(64,606	)		339,796

NET DECREASE IN CASH AND CASH EQUIVALENTS		(110,494	)		(18,497	)

CASH AND CASH EQUIVALENTS - beginning of period		124,746			25,008

CASH AND CASH EQUIVALENTS - end of period	$	14,252		$	6,511

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for:
Interest	$	-		$	-
Income taxes	$	-		$	-

NON-CASH INVESTING AND FINANCING ACTIVITIES:
Fair value of preferred/common stock issued upon settlement of debt	$	-		$	2,333,530
Note principal converted to common/preferred stock	$	-		$	340,800
Preferred stock issued upon settlement of related party debt	$	80,432		$	-

4See condensed notes to unaudited consolidated financial statements.

~~New~~5 ~~Global~~Table ~~Energy, Inc. Condensed Consolidated Statement~~ of ~~Stockholders' Equity (unaudited)~~Contents

	Preferred Stock				Common Stock				Common StockTo Be Issued				Additional paid-in		Accumulated			Subscription			Non-Controlling Interest in Variable Interest			Total
	Shares		Amount		Shares		Amount		Shares		Amount		Capital		Deficit			Receivable			Entity			Equity
Balance at December 31, 2015		20,000	$	2		13,861,582	$	1,386		-		-	$	43,013,191	$	(36,950,311	)	$	(353,200	)	$	66,043		$	5,777,111
Revaluation of warrants issued for services to non-employees		-		-		-		-		-		-		12,010		-			-			-			12,010
Revluation of common stock issued for services to non-employees		-		-		-		-		-		-		29,195		-			-			-			29,195
Shares issued as a result of warrant conversion		-		-		-		-		100,000		10		90		-			(100	)		-			-
Net Loss		-		-		-		-		-		-		-		(1,140,030	)		-			(3,888	)		(1,143,918	)
Balance at March 31, 2016		20,000	$	2		13,861,582	$	1,386		100,000	$	10	$	43,054,487	$	(38,090,341	)	$	(353,300	)	$	62,155		$	4,674,399

NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2016

~~See~~NOTE ~~Notes~~1 to- ~~Unaudited~~NATURE ~~Condensed~~OF ~~Consolidated~~OPERATIONS ~~Financial~~AND ~~Statements.~~SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

5Organization

New Global Energy, Inc. ~~Condensed~~("NGE" ~~Consolidated~~or ~~Statement~~the "Company") was organized on January 24, 2012. NGE's executive offices are located in Brevard County, Florida. The Company is focused on the development of ~~Cash~~its ~~Flows~~Global Energy Plantation (~~unaudited~~"GEP") Platform which combines alternative energy production, sustainable agriculture and aquaculture. It anticipates the use of non-centralized power plants, primarily concentrated solar power, Jatropha based biofuels and aquaculture operations to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish and shrimp as food products. Management has begun to execute this plan through the purchase of a controlling interest in Aqua Farming Tech, Inc. ("AFT"). The Company is in the process of raising additional capital to support the completion of its acquisition and development activities. Furthermore, beginning in the 4th quarter 2015, the Company commenced the sale of future contracts for the sale of fish, with the actual fish to be delivered before the end of 2016. These presales have generated cash to support the Company's day-to-day operations. The Company's activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company.

	Three months ended March 31,2016			Three months ended March 31,2015
Cash flows from operating activities:
Net Loss	$	(1,143,918	)	$	(2,135,215	)
Adjustments required to reconcile net loss to cash provided by (used in) operating activities:
Gain on derivative valuation		(4,028	)		(145,104	)
Loss realized upon disposal of asset		13,000			-
Loss on settlement of debt		-			1,992,732
Depreciation and amortization		111,152			33,328
Changes in operating assets and liabilities:
Decrease in accounts receivable		2,374			3,661
Increase in deferred commissions - related party		(334,796	)		-
Increase in prepaid assets		(14,257	)		-
(Increase) decrease in inventory		(3,391	)		37,043
Increase in accounts payable		11,685			3,849
Increase in accrued expenses		157,120			10,228
Increase in deferred revenue		1,309,541			-
Cash provided by (used in) operating activities:		104,485			(199,478	)
Cash flows from investing activities:
Purchase of equipment		-			(11,875	)
Cash used in investing activities		-			(11,875	)
Cash flows from financing activities:
Proceeds from related party notes payable		-			55,000
Proceeds from notes payable		-			259,800
Payment on debt		(36,298	)		(114,695	)
Cash (used in) provided by financing activities		(36,298	)		200,105
Change in cash		68,187			(11,248	)
Cash-beginning of period		124,746			25,008
Cash-end of period	$	192,933		$	13,760
Supplemental Cash Flow Informationy:
Cash paid during the period for:
Interest	$	-		$	-
Income taxes	$	-		$	-
Schedule of non-cash investing activity
Fair value of preferred/common stock issued upon settlement of debt	$	-		$	2,333,530

On February 1, 2016, the Company incorporated Moringa Reserve, LLC, a Florida limited liability company, to develop, operate, distribute and sell Moringa-based products to U.S. retail markets. Moringa Reserve, LLC will be operated as a joint venture and be owned equally by the Company and Moringa Energy, LLC, whose principals are the owners of a large Moringa farm located in Leon, Nicaragua. The 180-acre farm is a leading source of nutrient rich Moringa and will provide Moringa Reserve access to quality Moringa in sufficient supplies to meet demand. The members signed a definitive operating agreement and production is expected to begin in the second quarter of 2017.

See Notes to Unaudited Condensed Consolidated Financial Statements.

NEW GLOBAL ENERGY, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

Note 1. Nature of Operations and Summary of Significant Accounting Policies

Background

New Global Energy, Inc. ("NGE" or the "Company") was organized on January 24, 2012. NGE's executive offices are located in Brevard County, Florida. The Company is focused on the development of its Global Energy Plantation ("GEP") Platform which combines alternative energy production, sustainable agriculture and aquaculture. It anticipates the use of non-centralized power plants, primarily concentrated solar power, Jatropha based biofuels and aquaculture operations to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish and shrimp as food products. Management has begun to execute this plan through the purchase of a controlling interest in Aqua Farming Tech, Inc. ("AFT"). The Company is in the process of raising additional capital to support the completion of its acquisition and development activities. Furthermore, beginning in the 4th quarter 2015, the Company commenced the sale of future contracts for the sale of fish, with the actual fish to be delivered before the end of 2016.These presales have generated cash to support the Company's day-to-day operations. The Company's activities are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company.

Going Concern

The accompanying unaudited condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. For the six months ended June 30, 2016, the Company had a net loss and net cash used in operations of $2,490,710 and $42,388, respectively. The Company has earned little revenue since inception, and supports its continued operations through debt financing, related party loans, the sale of ~~future~~equity ~~fish~~and ~~contracts~~from ~~and~~the collection of funds from the ~~sale~~presale of ~~equity~~fish. As of ~~March~~June 3130, 2016, the ~~company~~Company had a working capital deficit of $3,~~475~~787,~~505~~300 and an accumulated deficit of $3839,~~090~~427,~~341~~256. As of August 31, 2016, the Company had cash of approximately $94,000 and through June 30, 2016 has collected $2,039,788 from the presale of fish which the Company has an obligation to deliver to its customers. These matters, among others, raise substantial doubt about the Company's ability to continue as a going concern.

While the Company is ramping up its operations and revenue generating activities, the Company's cash position ~~may~~is not besufficient ~~significant~~ enough to support the Company's ~~daily~~ operations for the next twelve months. Management intends to raise ~~additional~~ funds by way of a public or private offering as well as fish presales based on expected fish output in the next year. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company's ability to further implement its business plan and generate revenues.

7The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern

Basis of Presentation: The accompanying condensed consolidated financial statements as of June 30, 2016 and for the six months ended June 30, 2016 and 2015 have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year or any future period. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the fiscal year ended December 31, 2015, included in the Company's Annual Report on Form 10-K covering that period.

~~The~~6 ~~accompanying~~Table ~~consolidated balance sheet as~~ of March 31, 2016, which was derived from audited financial statements, and the unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year or any future period. These financial statements should be read in conjunction with the audited financial statements and related notes for the fiscal year ended December 31, 2015, included in the Company's Annual Report on Form 10-K covering that period. Contents

InNEW ~~the~~GLOBAL ~~opinion of management~~ENERGY, ~~the~~INC. ~~information~~AND ~~furnished~~SUBSIDIARYCONDENSED inNOTES ~~these~~TO ~~interim~~UNAUDITED ~~financial~~CONSOLIDATED ~~statements~~FINANCIAL ~~reflect~~STATEMENTSJUNE ~~all adjustments necessary for a fair statement of the financial position and results of operations and cash flows as of and for the three-month periods ended March 31~~30, 2016 ~~and 2015. All such adjustments are of a normal recurring nature. The financial statements do not include some information and notes necessary to conform to annual reporting requirements.~~

In the opinion of management, the information furnished in these condensed consolidated financial statements reflect all adjustments necessary for a fair statement of the financial position and results of operations and cash flows as of and for the three and six-month periods ended June 30, 2016 and 2015. All such adjustments are of a normal recurring nature. The consolidated financial statements do not include some information and notes necessary to conform to annual reporting requirements.

Principles of Consolidation: The consolidated financial statements include the accounts of New Global Energy, Inc., and its majority-owned subsidiary, AFT, a California corporation. All significant inter-company balances and transactions have been eliminated.

Use of Estimates: The preparation of these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States 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, the Company evaluates its estimates, including those related to intangible assets, income taxes, inventory valuation, ~~and~~ stock-based compensation, loss on future fish contracts, and derivative liabilities. The Company bases its estimates 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 resources. Actual results may differ from these estimates under different assumptions or conditions.

~~Cash~~Fair ~~and~~Value ~~Cash~~of ~~Equivalents~~Financial Instruments: ~~For~~FASB ~~financial~~ASC ~~statement~~825, ~~presentation~~"Financial ~~purposes~~Instruments," requires entities to disclose the ~~Company~~fair ~~considers~~value ~~those~~of ~~short-term~~financial instruments, ~~highly~~both ~~liquid~~assets ~~investments~~and ~~with~~liabilities ~~original~~recognized ~~maturities~~and ofnot ~~three~~recognized ~~months~~on orthe ~~less~~balance sheet, for which it is practicable to estimate fair value. FASB ASC 825 defines fair value of a financial instrument as the amount at which the instrument could be ~~cash~~exchanged orin ~~cash~~a ~~equivalents~~current transaction between willing parties. ~~There~~At ~~were~~June no30, 2016 and December 31, 2015, the carrying value of certain financial instruments (cash and cash equivalents, asaccounts ofreceivable, ~~March~~inventory, 31deferred commissions – related party, ~~2016~~bank overdrafts, accounts payable, accrued expenses, notes payable, and ~~2015~~deferred revenue) approximates fair value due to the short-term nature of the instruments or interest rates, which are comparable with current rates.

~~Inventory:~~ The Company's ~~inventory~~measures ~~consists~~fair ofvalue ~~live~~under ~~fish~~a ~~and~~framework isthat ~~stated~~utilizes ata fair value hierarchy that prioritizes the ~~lower~~inputs ofto ~~cost~~valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or ~~market~~liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs which prioritize the inputs used in measuring fair value are:

Property and Equipment: Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for renewals and betterments are capitalized. Expenditures for minor items, repairs and maintenance are charged to operations as incurred. Gain or loss upon sale or retirement due to obsolescence is reflected in the operating results in the period the event takes place.

Valuation of Long-Lived Assets: We review the recoverability of our long-lived assets including land, equipment, goodwill and investments, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. Our primary measure of fair value is based on discounted cash flows. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations. No impairment was recognized during the three month ended March 31, 2016 and 2015.

Goodwill: Impairment of Goodwill and Other Intangible Assets. As of March 31, 2016, goodwill recorded on our condensed consolidated balance sheet aggregated $3.68 million (the entirety of this amount relates to the company's completed acquisition of AFT, a California corporation). The AFT acquisition and its related operations constitute a reporting unit and we must make various assumptions in determining their estimated fair values. We perform an annual impairment review in the fourth quarter of each fiscal year.

Revenue Recognition: The Company recognizes revenue during the period in which fish are delivered to the customer. Sale proceeds received in the current period, for which delivery has not occurred, are recorded as deferred revenue until the fish are delivered to the customer.

Stock Based Compensation: Stock-based awards are accounted for using the fair value method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification (ASC) 718, Share-Based Payments. Our primary type of share-based compensation consists of stock options and warrants. The company granted no new stock or warrant based compensation during the three months ended March 31, 2016. Non-employee stock and warrant compensation is revalued quarterly and these revaluations are reflected in the Condensed Consolidated Statement of Shareholders' Equity.

Fair Value Measurements: The Company measures fair value under a framework that utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs which prioritize the inputs used in measuring fair value are:

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access.

Level 2: Inputs to the valuation methodology include:

	·	Quoted prices for similar assets or liabilities in active markets;
	·	Quoted prices for identical or similar assets or liabilities in inactive markets;
	·	Inputs other than quoted prices that are observable for the asset or liability;
	·	Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The asset's or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. When the Company changes its valuation inputs for measuring financial assets and liabilities at fair value, either due to changes in current market conditions or other factors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new inputs used.

~~When~~7 ~~the~~Table Company changes its valuation inputs for measuring financial assets and liabilities at fair value, either due to changes in current market conditions or other factors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new inputs used. The Company recognizes these transfers at the end of ~~the reporting period that the transfers occur. For the three months ended March 31, 2016 and 2015, there were no transfers of financial assets or financial liabilities between the hierarchy levels.~~Contents

~~The~~NEW ~~following~~GLOBAL ~~table~~ENERGY, ~~summarizes~~INC. ~~assets~~AND ~~and~~SUBSIDIARYCONDENSED ~~liabilities~~NOTES ~~remeasured~~TO atUNAUDITED ~~fair~~CONSOLIDATED ~~value~~FINANCIAL onSTATEMENTSJUNE ~~a recurring basis as of March 31~~30, 2016 ~~and December 31, 2015:~~

	March 31, 2016
Description of assets:	Level 1		Level 2		Level 3		Total
None	$	-	$	-	$	-	$	-
Description of liabilities:
Derivatives	$	-	$	-	$	6,907	$	6,907
	December 31, 2015
Description of assets:	Level 1		Level 2		Level 3		Total
None	$	-	$	-	$	-	$	-
Description of liabilities:
Derivatives	$	-	$	-	$	10,935	$	10,935

The Company recognizes these transfers at the end of the reporting period that the transfers occur. For the six months ended June 30, 2016 and 2015, there were no transfers of financial assets or financial liabilities between the hierarchy levels.

10The following table summarizes assets and liabilities remeasured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015:

Earnings per Common Share: We compute net (loss) per share in accordance with FASB ASC 260, Earning per Share. FASB ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period.

June 30, 2016

Description of assets:

Level 1

Level 2

Level 3

Total

None

Description of liabilities:

Derivatives

For the three months ended March 31, 2016 and 2015, the following potentially dilutive securities have been excluded from the calculation of diluted loss per share because their impact was antidilutive.

	December 31, 2015
Description of assets:	Level 1		Level 2		Level 3		Total
None	$	-	$	-	$	-	$	-
Description of liabilities:
Derivatives	$	-	$	-	$	10,935	$	10,935

	2016		2015
Preferred Stock		3,049,548		981,504
Warrants		111,716		117,416
		3,161,264		1,098,920

Cash and Cash Equivalents: For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents. There were no cash equivalents as of June 30, 2016 and December 31, 2015.

~~Recent~~Inventory: The ~~Accounting~~Company's ~~Pronouncements~~inventory consists of live fish and is stated at the lower of cost or market. Costs included in inventory consists of cost of feed, labor costs and utility costs and other maintenance costs through the balance sheet date.

~~The~~Property ~~Company~~and ~~has~~Equipment: ~~evaluated~~Property ~~new~~and ~~relevant~~equipment ~~accounting~~are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Expenditures for ~~possible~~renewals ~~impact~~and onbetterments ~~our~~are ~~condensed~~capitalized. ~~consolidated~~Expenditures ~~financial~~for ~~statements~~minor items, repairs and ~~deemed~~maintenance ~~their~~are ~~impact~~charged to beoperations ~~immaterial~~as incurred. Gain or ~~non-applicable~~loss upon sale or retirement due to obsolescence is reflected in the ~~Company~~operating results in the period the event takes place.

~~Note~~Goodwill: 2Impairment of Goodwill and Other Intangible Assets. ~~Property~~As of June 30, 2016 and ~~Equipment~~December 31, 2015, goodwill recorded on our consolidated balance sheets aggregated $3.68 million (the entirety of this amount relates to the Company's completed acquisition of AFT). The AFT acquisition and its related operations constitute a reporting unit and we must make various assumptions in determining their estimated fair values. We perform an annual impairment review in the fourth quarter of each fiscal year.

Valuation of Long-Lived Assets: We review the recoverability of our long-lived assets including land, equipment, goodwill and investments, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The ~~Company's~~assessment ~~property~~of possible impairment is based on our ability to recover the carrying value of the asset from the expected future pre-tax cash flows (undiscounted and ~~equipment~~without ~~consisted~~interest charges) of the ~~following~~related asoperations. If these cash flows are less than the carrying value of ~~March~~such 31asset, ~~2016~~an impairment loss is recognized for the difference between estimated fair value and ~~December~~carrying 31value. Our primary measure of fair value is based on discounted cash flows. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations. No impairment was recognized during the six month ended June 30, 2016 and 2015:.

	Useful Lives	March 31,2016			December 31,2015
Land	Indefinite	$	2,128,000		$	2,128,000
Buildings and Improvements	7 years		2,269,886			2,269,886
Equipment & Solar Panels	10 years		776,477			766,477
Vehicles	5 years		115,500			128,500
			5,289,843			5,292,843
Accumulated depreciation			(767,844	)		(656,692	)
Total		$	4,521,999		$	4,646,151

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11NEW GLOBAL ENERGY, INC. AND SUBSIDIARYCONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSJUNE 30, 2016

~~Note~~Bank ~~3. Notes~~overdrafts: ~~Payable~~Bank –overdrafts ~~related~~represent ~~party~~outstanding checks in excess of funds on deposit at the Company’s bank account.

Revenue Recognition and Related Deferred Revenue: The ~~balances~~Company ofrecognizes ~~related~~revenue ~~party~~during ~~notes~~the asperiod ofin ~~March~~which 31fish are delivered to the customer. Sale proceeds received in the current period, ~~2016~~for ~~and~~which ~~December~~delivery 31has not occurred, ~~2015~~are ~~follows:~~recorded as deferred revenue until the fish are delivered to the customer.

	Interest Rate			Maturity	March 31,2016		December 31,2015
Related Party Note A		10	%	In Default	$	15,000	$	15,000
Related Party Note B		10	%	In Default		130,000		130,000
Related Party Note C		10	%	In Default		22,210		22,210
Related Party Note D		10	%	In Default		74,000		74,000
Related Party Note E		10	%	In Default		94,000		95,000
Related Party Note F		10	%	In Default		10,000		10,000
Related Party Note G		10	%	In Default		7,000		7,000
Related Party Note H		10	%	In Default		13,069		13,069
Related Party Note I	None			On Demand		14,458		14,458
Related Party Note J	None			On Demand		15,210		15,210
Total					$	394,836	$	396,036

Beginning in the 4^thquarter 2015, the Company commenced the sale of future contracts for the sale of fish, with the actual fish to be delivered over a period of one year beginning from the contract date and when the fish reach one pound or greater in weight. The Company records the sale of fish for which delivery of the product has not yet occurred as deferred revenue in the current liabilities section of the consolidated financial statements.

AsProvision for Estimated Losses on Presold Fish: The Company records a provision for total anticipated losses on the future delivery of ~~March~~presold ~~31,~~fish ~~2016,~~by considering total estimated costs to develop and deliver the fish compared to total anticipated revenues in the period in which such losses are identified. The provisions for estimated losses on the future delivery of presold fish requires the Company ~~had~~to ~~outstanding~~make ~~notes~~certain ~~payable~~estimates and assumptions, including those with respect to ~~related~~the ~~parties~~future ~~totaling~~cost ~~$394~~to grow the fish to maturity. Estimates of the future cost include assumptions as to costs of feed,~~836~~ utilities, labor and other indirect costs. ~~Included~~If inany ~~this~~of ~~balance~~these isor ~~$365~~other assumptions and estimates do not materialize in the future,~~279~~ the Company may be required to record additional provisions for estimated losses on the future delivery of ~~debt~~presold ~~which~~fish. ~~bears~~During ~~interest~~the atsix ~~10%~~months ended June 30, 2016, management analyzed the estimated loss per ~~annum~~pound ~~and~~from isall ~~currently~~outstanding infuture ~~default~~fish contracts. ~~The~~After ~~remaining~~management's ~~$29~~review,~~668~~ infor ~~related~~the ~~party~~three ~~notes~~and ~~are~~six ~~non-interest~~months ~~bearing~~ended ~~cash~~June ~~advances~~30, ~~from~~2016, ~~shareholders~~the Company recognized a loss of $127,940 and $600,492 on the future fish contracts, respectively. ~~These~~At ~~advances~~June ~~are~~30, ~~due~~2016 and December 31, 2015, accrued losses on ~~demand~~presold fish amounted to $600,492 and zero, respectively.

Deferred Commissions – Related Party: In connection with commencement of the future contracts for the sale of fish, the Company pays a 40% commission to a related party. The Company records the commission paid or due for which delivery of the product has ~~recognized~~not ~~$19,727~~yet ~~and~~occurred ~~$27,880~~as indeferred ~~interest~~commission ~~expense~~– related toparty in the ~~notes~~current ~~held~~assets bysection ~~related~~of ~~parties~~the ~~for~~consolidated financial statements. For the ~~three~~six months ended ~~March~~June 3130, 2016, the Company paid this related party $571,520 of which $101,462 was for reimbursement of expenses, and ~~2015~~has paid this related party a total of $935,630 ~~respectively~~since the inception of the future fish contract program.

~~Note~~Stock-Based 4.Compensation: ~~Notes~~Stock-based ~~Payable~~awards are accounted for using the fair value method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification (ASC) 718, Share-Based Payments. Our primary type of share-based compensation consists of stock options and warrants.

~~Note~~Pursuant 1to -ASC ~~Note~~Topic ~~payable~~505-50, for ~~vehicle~~share-based ~~financing~~payments ~~with~~to aconsultants ~~balance~~and ofother $6third-parties,~~000~~ compensation expense is determined at the “measurement date.” The measurement date fair value is then recognized over the service period as ofif ~~March~~the ~~31,~~Company ~~2016~~has ~~and~~paid ~~December~~cash 31for ~~2015~~such service. Until the measurement date is reached, ~~accruing~~the ~~interest~~total amount of ~~10%~~compensation ~~and~~expense ~~due~~remains ~~on demand~~uncertain. ~~This~~The ~~note~~Company ~~matured~~initially records compensation expense based on ~~September~~the ~~10,~~fair ~~2010~~value ~~and~~of isthe ~~currently~~award inat ~~default~~the reporting date.

12Research and development: Expenditures for research and product development costs are expensed as incurred. For the six months ended June 30, 2016 and 2015, research and development expense amounted to $6,688 and $32,812, respectively.

~~Note~~Earnings 3per ~~and~~Common ~~Note~~Share: 3aWe -compute ~~Note~~net ~~payable~~loss toper ashare ~~bank~~in accordance with aFASB ~~balance~~ASC ~~of $466~~260,~~312~~ Earning onper ~~December~~Share. ~~31,~~FASB ~~2014,~~ASC ~~with~~260 arequires ~~6.5%~~presentation ~~variable~~of ~~interest~~both ~~rate~~basic and ~~matured~~diluted onearnings ~~December~~per 7,share ~~2014~~ (~~Note 3~~EPS), ~~but~~on ~~was renewed by~~ the ~~bank~~face ~~and AFT on March 10, 2015 with a balance~~ of ~~$506,178 (a combination of outstanding principal on~~ the ~~prior~~income ~~note, accrued note interest and late fees) a 6~~statement.5% ~~variable~~Basic ~~interest~~EPS ~~rate~~is atcomputed ~~December~~by ~~31,~~dividing ~~2015~~net ~~and~~loss aavailable ~~maturity~~to ~~date~~common ofshareholders ~~March 10, 2017~~ (~~Note 3a~~numerator). ~~During~~by ~~2015, $41,104 was paid towards~~ the ~~principal~~weighted ofaverage ~~the~~number ~~note, while $26,768~~ of ~~interest~~shares ~~related~~outstanding to(denominator) ~~the~~during ~~renewed note accrued and was converted into note principal per~~ the ~~renewal agreement~~period. ~~The~~Diluted ~~note~~EPS ~~had~~gives aeffect ~~balance~~to ofall ~~$488,113~~dilutive aspotential ofcommon ~~March~~shares ~~31,~~outstanding ~~2016~~during ~~and $498,459 as of December 31, 2015 and is in default under~~ the ~~terms of the loans covenants, and therefore is included in current liabilities as of March 31, 2016~~period.

~~Note~~9 4Table ~~- Note payable for solar system array at the Thermal, California property with a balance~~ of ~~$123,272 and $136,225 as of March 31, 2016 and December 31, 2015, respectively, with interest rate at 2.8% due in monthly installments of $4,138 through March of 2018.~~Contents

~~Note~~NEW 5GLOBAL ~~– Note payable for solar installation at the Thermal property~~ENERGY, ~~with~~INC. aAND ~~balance~~SUBSIDIARYCONDENSED ofNOTES ~~$25,000~~TO asUNAUDITED ofCONSOLIDATED ~~March~~FINANCIAL ~~31,~~STATEMENTSJUNE ~~2016 and December 31~~30, ~~2015 and an interest rate at 10%. This note is currently in default~~2016

~~The~~For ~~notes~~the ~~payable~~six ~~outstanding~~months asended ofJune ~~March 31~~30, 2016 and ~~December 31~~2015, ~~2015~~the ~~are~~following ~~summarized~~potentially ~~below:~~dilutive securities have been excluded from the calculation of diluted loss per share because their impact was antidilutive.

	March 31,2016		December 31,2015
	2016		2015
Note 1	$	6,000	$	6,000
Preferred Stock		3,218,483		1,701,504
Note 2		99,361		111,361
Warrants		111,716		211,716
Note 3		-		-
Options		2,828,530		-
Note 3a		488,113		498,459
		6,158,729		1,913,220
Note 4		123,272		136,224
Note 5		25,000		25,000
Total	$	741,746	$	777,044

Recent Accounting Pronouncements: The Company has ~~recognized~~evaluated ~~$10,622~~new ~~and~~relevant ~~$0,~~accounting ~~in interest expense~~ for ~~the~~possible ~~three~~impact ~~months~~on ~~ended~~our ~~March~~consolidated ~~31,~~financial ~~2016~~statements and ~~March~~deemed ~~31,~~their ~~2015,~~impact ~~respectively related~~ to ~~notes~~be ~~payable and~~immaterial isor ~~included~~non-applicable into ~~accrued expenses on~~ the Company~~'s consolidated balance sheet as of March 31, 2016 and December 31, 2015, respectively~~.

~~Future~~Reclassifications: ~~maturity~~Certain ofreclassifications ~~debt~~has isbeen asmade ~~follows:~~in prior period’s consolidated financial statements to conform to the current period’s financial presentation. These reclassifications did not change the Company’s financial position or results of operations.

Year ended March 31,	Amount
2017	$	668,130
2018		49,656
2019		23,960
2020		-
2021		-
Total	$	741,746

NOTE 2 - PROPERTY AND EQUIPMENT

13The Company's property and equipment consisted of the following as of June 30, 2016 and December 31, 2015:

Note 5. Stockholders' Equity

	Useful Lives	June 30, 2016			December 31, 2015
Land	Indefinite	$	2,128,000		$	2,128,000
Building and Improvements	7 years		2,269,866			2,269,866
Equipment & Solar Panels	10 years		776,477			776,477
Vehicles	5 years		119,000			128,500
			5,293,343			5,302,843
Accumulated depreciation			(879,083	)		(656,692	)
		$	4,414,260		$	4,646,151

For the six months ended June 30, 2016, and 2015, depreciation expense totaled $222,391 and $95,684, respectively.

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NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2016

NOTE 3 - NOTES PAYABLE

At June 30, 2016 and December 31, 2015, notes payable outstanding consisted of the following:

	June 30, 2016			December 31, 2015
Note 1	$	6,000		$	6,000
Note 2		91,361			111,361
Note 3		477,767			498,459
Note 4		114,637			136,224
Note 5		25,000			25,000
Note 6		22,100			22,100
Note 7		93,000			95,000
Note 8		10,000			10,000
Note 9		7,000			7,000
Total		846,865			911,144
Less: current portion of notes payable		(781,884	)		(824,575	)
Notes payable – long-term	$	64,981		$	86,569

Note 1 - Note payable for vehicle financing with a balance of $6,000 as of June 30, 2016 and December 31 2015, bearing annual interest at 10% and due on demand. This note matured on September 10, 2010 and is currently in default.

Note 2 - Note payable pursuant to a 2010 settlement with a balance of $91,361 and $111,361, as of June 30, 2016 and December 31, 2015, respectively, due on December 15, 2015, and non-interest bearing. This note is currently in default.

Note 3 - Note payable to a bank dated March 10, 2015 with interest at a variable interest rate equal to 3.5% and 3.5% at June 30, 2016 and December 31, 2015, respectively, and a maturity date of March 10, 2017. The note had a balance of $477,767 and $498,459 as of June 30, 2016 and December 31, 2015, respectively, and is in default under the terms of the loans covenants, and therefore is included in current liabilities as of June 30, 2016.

Note 4 - Note payable for solar system array at the Thermal, California property with a balance of $114,637 and $136,225 as of June 30, 2016 and December 31, 2015, respectively, with interest rate at 2.8% due in monthly installments of $4,138 through March of 2018.

Note 5 – Note payable for solar installation at the Thermal property, with a balance of $25,000 as of June 30, 2016 and December 31, 2015 and an interest rate at 10%. This note is currently in default.

Note 6 to Note 9 – Notes payable with interest at 10%, in default and payable on demand.

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NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2016

The Company has recognized $25,689 and $14,043, in interest expense for the six months ended June 30, 2016 and 2015, respectively, related to notes payable and was included in interest expense on the accompanying consolidated statements of operations. At June 30, 2016 and December 31, 2015, accrued interest payable on notes payable, included in accrued expenses on the condensed consolidated balance sheets, amounted to $125,650 and $99,961, respectively.

Future maturity of notes payable is as follows:

Due in Twelve-month Periods Ending June 30,	Amount
2017	$	781,884
2018		49,656
2019		15,325
Total	$	846,865

NOTE 4 - STOCKHOLDERS' EQUITY

Preferred Stock

The Company is currently authorized to issue up to 25,000,000 shares of preferred stock which are designated as Series A Convertible Preferred Stock, with a $0.0001 par value. All issued shares of Series A Convertible Preferred Stock are entitled to vote on a 1 share/1 vote basis. The currently issued preferred shares carry a liquidation preference of $150 per preferred share.

Each share of Series A Convertible Preferred Stock shall be convertible, at the option of the holder, at any time into such number of fully paid and non-assessable shares of Common Stock as is determined by multiplying the number of issued and outstanding shares of the Corporation's Common Stock by .0000110. Provided however, that such number of common shares into which each share of Series A Preferred Stock may be converted shall not exceed 220.

Preferred stock issued for debt settlement

On June 15, 2016, the Company and a related party entered into a debt settlement agreement. In accordance with the debt settlement agreement, debt in the principal amount of $74,000 and accrued and unpaid interest on the debt of $6,432 were settled for 1,100 shares of the Company’s preferred stock. The Company recorded this debt settlement as a reduction of debt and interest due and an increase in equity for the capital contribution of $80,432.

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NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2016

Common Stock

We are currently authorized to issue up to 100,000,000 shares of $ 0.0001 par value common stock. All issued shares of common stock are entitled to vote on a 1 share/1 vote basis.

ACommon ~~consultant~~stock ~~exercised~~issued ~~100,000~~for warrants and has met all contractual obligations to be entitled to such shares. As of March 31, 2016 the shares were not issued, but are included in the shares outstanding and the weighted average shares outstanding because the holder is entitled to all rights and obligations that come with owning the shares.exercise

~~Series~~On AMarch ~~Preferred~~23, ~~Stock~~2016, a warrant holder exercised 100,000 common stock warrants for proceeds of $100 and received 100,000 common shares.

We are currently authorized to issue up to 25,000,000 shares of Series A Convertible Preferred stock, with a $0.0001 par value. All issued shares of Series A Convertible Preferred stock are entitled to vote on a 1 share/1 vote basis. The currently issued preferred shares carry a liquidation preference of $150 per preferred share.

Common stock Issued:

The following table summarizes common stock warrants issued and outstanding:

	Shares			Weightedaverageexerciseprice		Weighted average remaining contractual term (months)		Aggregateintrinsicvalue*
Warrants outstanding at December 31, 2015		111,716		$	0.33		6.6	$	212,260
Correction to warrants issued in prior period		100,000		$	0.01		6.7	$	37,988
Total Warrants outstanding at December 31, 2015		211,716		$	0.35		6.6	$	250,248
Warrants exercised during the three months ended March 31, 2016		(100,000	)	$	0.01
Warrants outstanding at March 31, 2016		111,716		$	0.33		3.6	$	-
Warrants exercisable at March 31, 2016		111,716		$	0.33		3.6	$	-

_____________

Range of exercise prices	Shares		Weighted average remaininglife in months
$ 0.33		111,716		3.6
Total Warrants		111,716

On March 23, 2016, a warrant holder exercised 100,000 common stock warrants for proceeds of $100 and received 100,000 shares, which are included in the common share total as of March 31, 2016.

Note 6. Derivative and Warrant Liabilities

Warrants

~~The~~Warrant ~~previous~~activities ~~convertible~~for ~~debt~~the ~~was~~six ~~issued~~months ~~with~~ended anJune ~~aggregate of 600~~30,~~000~~ ~~detachable warrants to purchase the Company's common stock. Each warrant entitles the holder to purchase one share at prices ranging from $1.00 to $3.00 and they expire at various dates in~~ 2016~~.The~~ ~~exercise~~were price of these warrants and the conversion rate of the debt is to be adjusted in the event that the Company issues or sells any shares of common stock, options, warrants or any convertible instruments (other than exempted issuances) at an effective price per share which is less than the exercise price of these warrants. Accordingly, in accordance with FASB ASC 815, the Company has accounted for these warrants as ~~liabilities.~~follows:

The Company values its warrant derivatives using the Black-Scholes option-pricing model. Assumptions used for 2016 and 2015 include:

	Number of Warrants			Weighted Average Exercise Price
Balance at December 31, 2015		211,716		$	1.58
Issued		-			-
Exercised		(100,000	)		0.001
Balance at June 30, 2016		111,716			3.00
Warrants exercisable at June 30, 2016		111,716		$	3.00

·There ~~risk-free~~was ~~interest~~no ~~rate-~~intrinsic ~~0.36%~~value ·for ~~warrant life is~~ the ~~remaining~~warrants ~~contractual~~at ~~life~~June ~~of the warrants~~30, ~~which is .55 of one year · expected volatility- 2015: 247.90%~~ 2016~~: 247~~.13% · Stock Price on Measurement Date: 2015: $0.38 2016: $0.50 · expected dividends-none · exercise prices as set forth in the agreements, · common stock price of the underlying share on the valuation date, and · number of shares to be issued if the instrument is exercised

The ~~aggregate fair value of the warrants was determined to be $6,907 and $10,935 respectively, at March 31, 2016 and December 31, 2015. The~~ following table summarizes the ~~changes~~shares inof the ~~derivative~~Company’s ~~liabilities~~common ~~for~~stock ~~the~~issuable ~~three~~upon ~~months~~exercise ~~ended~~of ~~March~~warrants 31outstanding at June 30, 2016.:

		Totals				Warrants
Warrants Outstanding												Warrants Exercisable
Fair value at December 31, 2015		$	10,935			$	10,935
Range of Exercise Price				Number Outstanding at June 30, 2016				Range of Weighted Average Remaining Contractual Life (Months)		Weighted Average Exercise Price		Number Exercisable at June 30, 2016		Weighted Average Exercise Price
Adjustment to fair value at March 31, 2016			(4,028	)			4,028
$	3.00				111,716				0.6	$	3.00		111,716	$	3.00
Fair value at March 31, 2016		$	6,907			$	6,907

15Options

~~Note~~On 7April 28, 2016 and May 2, 2016, the Company granted a total of 2,828,530 options to three separate related parties and the Company’s CEO at a fixed exercise price of $0.30 ~~Deferred~~per ~~Revenue~~share. The 800,000 options granted to the Company’s CEO and ~~Commissions~~an additional 1,600,000 options granted to two related parties are exercisable at tiered intervals beginning June 1, 2016. The remaining 428,530 options granted to the Company’s partner in a joint venture are also exercisable at tiered intervals beginning May 1, 2016. The fair value of the options of $864,267 was determined using the Black-Scholes option-pricing model using the following assumptions: Dividend rate - 0; Terms (in years) 5.0 to 10.0; Volatility – 249.5%; Risk-free interest rate – 1.32% to 1.84%. In connection with the option grant, for the six months ended June 30, 2016, the Company recognized management and other fees – related parties of $864,267 on the accompanying consolidated statements of operations because the options were deemed fully earned and non-cancellable on the grant date.

~~Deferred~~13 ~~revenue~~Table ~~represents amounts billed and collected for the future delivery~~ of fish in accordance with contractual terms. These advance payments relate solely to the Company's future fish contract program. Beginning in the 4th quarter 2015, the Company commenced the sale of future contracts for the sale of fish, with the actual fish to be delivered before the end of 2016. The amounts represented below show the results of the presales. Contents

	Total		Three Months Ended March 31,2016		Year ended December 31,2015
Pounds of fish presold		949,735		429,024		520,711
Average sale price per pound (varies between $1.50 and $2.00)	$	1.80	$	1.95	$	1.79
Deferred revenue from future fish contracts	$	1,718,207	$	836,990	$	881,218
Loss recognized on sale of future fish contracts	$	472,552	$	472,552	$	-
Total deferred revenue	$	2,190,760	$	1,309,542	$	881,218

NEW GLOBAL ENERGY, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2016

InOption ~~addition,~~activities ~~the Company has signed a commission agreement with a related party and beneficial shareholder,~~ for the ~~future~~six ~~fish~~months ~~contracts.~~ended ~~Per~~June ~~this agreement~~30, ~~the related party introduces the futures buyers to the Company and receives a 40% flat commission on all sales. The related party has received $705,536 in carried commissions as of March 31,~~ 2016. ~~Commissions~~were ~~carried are reflected~~ as deferred commissions – related party on the accompanying balance sheet until the period in which the related revenue is recognized. Additionally, the Company paid $82,054 of related costs to this related party during the three months ended March 31, 2016.follows:

During the three months ended March 31, 2016, management analyzed the estimated loss per pound from all outstanding future fish contracts. After management's review, the Company recognized a $472,552 loss on the sale of future fish contracts.

	Number of Options		Weighted Average Exercise Price
Balance at December 31, 2015		-	$	-
Issued		2,828,530		0.30
Balance at June 30, 2016		2,828,530		0.30
Option exercisable at June 30, 2016		1,250,000	$	0.30

~~Note~~There ~~8. Related~~was ~~Party~~no ~~Transactions~~intrinsic value for the options at June 30, 2016.

~~Due~~The tofollowing ~~Related~~table ~~Parties~~summarizes the shares of the Company’s common stock issuable upon exercise of options outstanding at June 30, 2016:

As of March 31, 2016 and December 31, 2015, the Company owed certain related parties $394,836 and $396,036 respectively of which, $365,179 represents note payable due to a related party, bears interest at 10% and is due on demand. The remainder, $29,868, bears no interest and is due on demand.

Options Outstanding								Options Exercisable
Range of Exercise Price		Number Outstanding at June 30, 2016		Range of Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number Exercisable at June 30, 2016		Weighted Average Exercise Price
$	0.30		1,050,000		4.9	$	0.30		1,050,000	$	0.30
	0.30		750,000		5.9		0.30		-		-
	0.30		600,000		6.9		0.30		-		-
	0.30		428,530		9.8		0.30		200,000		0.30
$	0.30		2,828,530		6.4	$	0.30		1,250,000	$	0.30

~~Reimbursement~~NOTE of5 ~~Expenses~~- ofDERIVATIVE ~~our~~AND ~~Chief~~WARRANT ~~Executive Officer~~LIABILITIES

16During the six months ended June 30, 2016, the fair value of warrant derivatives were estimated using the Black-Scholes option-pricing model with the following assumptions:

The Company has entered into the following transactions with a company owned by a beneficial shareholder of the company:

Risk-free interest rate	0.36%
Warrant life is the remaining contractual life of the warrants	0.30 to 0.05 months
Volatility	247.13% to 253.12%
Dividend rate	0

~~·Holder~~14 ofTable ~~20,000 shares~~ of Series A Convertible Preferred stock, and 1,061,630 shares of common stock. ·Note payable in the amount of $74,000 as of March 31, 2016 of which $24,830 in related party interest has been accrued. The CEO of this holder has personally provided $15,210 in cash advances to the Company during 2015 and the entire balance remains outstanding as of March 31, 2016. These advances are non-interest bearing and due on demand. ·Settled $208,000 of the outstanding notes in exchange for issuing 4,160 shares of the Company's Series A Convertible Preferred stock during the year ended December 31, 2015. ·Received 15,840 shares of Series A preferred stock in exchange for $792,000. As of March 31, 2016, the Company has received $438,800 related to the agreement and recorded $353,200 in stock subscription receivable. ·Receives 40% of tilapia futures sales on a commission basis. See Note 7. Deferred Revenue and Commissions for further details on the commission agreement. ·Was paid $82,054 for services and expenses provided to the Company related to tilapia future sales during the three months ended March 31, 2016. ·Entered into a consulting agreement with the Company on October 1, 2015 to provide leads on potential asset and business acquisitions, commercial customers, channel partners, service providers and investors to the Company in exchange for a tiered success fee in the event their efforts secure capital investment or revenue partners for the Company. ·The related party consultant will be paid $10,000 for each month of advisory services provided to the Company. As of March 31, 2016, the Company has accrued $60,000 in consulting fees and paid no amounts under this agreement. Contents

~~The~~NEW ~~Company~~GLOBAL ~~entered~~ENERGY, ~~into~~INC. ~~the~~AND ~~following~~SUBSIDIARYCONDENSED ~~transactions~~NOTES ~~with~~TO aUNAUDITED ~~related~~CONSOLIDATED ~~party:~~FINANCIAL STATEMENTSJUNE 30, 2016

~~·Holder~~The ofaggregate ~~664,217~~fair ~~shares~~value of ~~common stock ·Holds two notes payable from~~ the ~~Company.~~warrants ~~The~~was ~~first~~determined ~~note~~to ~~has~~be ~~a balance of~~ $~~13,069~~0 ~~as of March 31, 2016,~~ and ~~bears interest at 10%. This note has accrued~~ $510,~~061~~935 ~~in related party interest as of March 31~~respectively, ~~2016.~~at ~~The~~June ~~2nd note is a cash advance from the debt and equity holder totaling $14~~30,~~458~~ ~~as of March 31,~~ 2016. ~~This note bears no interest~~ and isDecember due on demand. ·A cosigner and guarantor on the bank loan for the 221-kW DC solar photovoltaic electric system on the Thermal farm. These panels are owned and the current loan is paid for by AFT. As of March 31, ~~2016 $488~~2015,~~113~~ ~~was still owed on the loan~~respectively. ~~·Farm~~ ~~Consultant~~The ~~for~~following ~~the~~table ~~Company~~summarizes ~~since September 2013. Per~~ the ~~agreement,~~changes ~~the debt and equity holder receives $10,000 per month plus expenses for farm-related consulting services. As of March 31, 2016, the Company has accrued $60,000~~ in ~~consulting fees and has settled prior outstanding fees in December 2015 through stock issuances totaling 283,783 shares of~~ the ~~Company's~~derivative ~~common~~liabilities ~~stock. ·Owner of a 174.37 kW-DC Photovoltaic System on the Mecca farm, land owned by AFT and leased to the related party~~ for ~~a period of 10 years at a total cost of $1.00, designed to cover 90% of energy required by~~ the ~~Mecca~~six ~~farm.~~months ~~This~~ended ~~system~~June ~~is subject to an agreement between the debt and equity holder and AFT~~30, ~~covered in the off balance sheet arrangement section of this year's 10-K. The Company has accrued $105,706 as of March 31,~~ 2016 ~~for the portion due related to this agreement~~.

	Warrants
Fair value at December 31, 2015	$	10,935
Adjustment to fair value during the six months ended June 30, 2016		(10,935	)
Fair value at June 30, 2016	$	-

~~Note~~NOTE 9.6- ~~Subsequent~~DEFERRED ~~Events:~~REVENUE AND COMMISSIONS

OnDeferred ~~May~~revenue 2,represents ~~2016,~~amounts ~~the~~billed ~~Company~~and ~~issued~~collected ~~100,000~~for ~~common~~the ~~shares~~future indelivery ~~for~~of ~~warrants~~fish ~~exercised~~in onaccordance ~~March~~with ~~23,~~contractual ~~2016~~terms. ~~The~~These ~~warrant~~advance ~~holder~~payments ~~has~~relate ~~met~~solely ~~all~~to ~~contractual~~the ~~obligations~~Company's tofuture befish ~~entitled~~contract toprogram. ~~such~~Beginning ~~shares~~in asthe of4th quarter ~~March 31~~2015, ~~2016~~the ~~and~~Company ~~therefore~~commenced the ~~shares~~sale ~~were~~of ~~included~~future incontracts for the ~~shares~~delivery ~~outstanding~~of ~~and~~fish, with the ~~weighted~~actual ~~average~~fish ~~shares~~to ~~outstanding.~~be Indelivered ~~addition,~~over ona period of one year beginning from the ~~same~~contract date, and when the ~~company~~fish ~~issued~~reach ~~100,000~~one ~~shares~~pound ofor ~~common~~greater ~~stock~~in ~~for~~weight. ~~investor~~The ~~relation~~amounts ~~services~~represented ~~provided~~below ~~over~~shows the ~~previous~~results ~~six~~of ~~month~~the ~~period~~presales.

On May 2, 2016, the Company granted a total of 2,828,530 options to three separate related parties and our CEO at an exercise price of $0.30 per share. The 800,000 options granted to our CEO and an additional 1,600,000 options granted to two related parties are exercisable at tiered intervals beginning June 1, 2016. The remaining 428,530 options granted to the Company's partner in a joint venture are also exercisable at tiered intervals beginning May 1, 2016.

	Year ended December 31, 2015		Six Months Ended June 30, 2016		Deferred Revenue at June 30, 2016
Pounds of fish presold		520,711		576,274		1,096,985
Average sale price per pound (varies between $1.50 to $2.00)	$	1.79	$	2.01	$	1.86
Increase on deferred revenue from future fish contracts	$	881,218	$	1,158,570	$	2,039,788
Fish delivered pursuant to future fish contracts		-		-		-
Total deferred revenue	$	881,218	$	1,158,570	$	2,039,788

18In addition, the Company has signed a commission agreement with a related party and beneficial shareholder in connection with the future fish contracts. Per this agreement, the related party introduces the futures buyers to the Company and receives a 40% flat commission on all future fish contract sales. As of June 30, 2016 and December 31, 2015, the related party has received $834,168 and $370,740, respectively, in commissions which are reflected as deferred commissions – related party on the accompanying consolidated balance sheets until the period in which the related revenue is recognized. Additionally, the Company paid $101,462 of related costs to this related party during the six months ended June 30, 2016.

~~ITEM~~15 2.Table ~~MANAGEMENT'S~~of ~~DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION.~~Contents

~~The~~NEW ~~following~~GLOBAL ~~discussion~~ENERGY, ~~and analysis is intended as a review of significant factors affecting our financial condition and results of operations for the periods indicated~~INC. ~~The~~AND ~~discussion~~SUBSIDIARYCONDENSED ~~should~~NOTES beTO ~~read~~UNAUDITED inCONSOLIDATED ~~conjunction~~FINANCIAL ~~with~~STATEMENTSJUNE ~~our consolidated financial statements and the notes presented herein. In addition to historical information~~30, the following Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. Our actual results could differ significantly from those anticipated in these forward-looking statements as a result of certain factors discussed in this Form 10-Q.2016

~~Overview~~NOTE ~~and~~7 ~~Financial~~- ~~Condition~~ RELATED PARTY TRANSACTIONS

~~New~~Notes ~~Global~~Payable Energy, Inc. ("NGE" or the "Company") is a sustainable agriculture and aquaculture company organized as a Wyoming corporation on January 24, 2012 with executive offices located in Brevard County, Florida. The Company focuses on the use of advanced technology and farming techniques with the goal of increasing production and decreasing costs. The Company is focused on internal growth and growth through the acquisition of high-~~growth~~ ~~firms,~~Related assets and properties in the Green market space; industry segments of interest to the Company include sustainable agriculture, aquaculture and solar. Management is targeting growth stage assets, operations and companies that possess proprietary market edge and demonstrate solid opportunity to scale their business. We expect to pursue special opportunities that are anticipated to accelerate shareholder value by consolidating certain tiers of the $5 Trillion per year fragmented Green and Renewable Energy industry.Parties

The ~~first~~balances ~~portion~~ of ~~the~~related ~~Company's~~party ~~development~~notes ~~plan~~as ~~includes the development~~ of ~~its~~June Global Energy Plantation ("GEP") using its Global Cell concept which combines alternative energy (source of usable energy intended to replace fuel sources without the undesired consequences of the replaced fuels) production30, ~~sustainable~~2016 ~~agriculture (practice of farming using principles of ecology, the study of relationships between organisms~~ and ~~their~~December ~~environment) and aquaculture (the processes of farming of aquatic organisms such as fish~~31, ~~crustaceans,~~2015 mollusks and aquatic plants). In summation, our development plan will utilize non centralized solar panels to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish, a process currently in operation, and, in future operations after the current year, shrimp.follows:

Aqua Farming Tech, Inc. ("AFT") continued during the reported period to replace its existing brood stock used in its Tilapia production. It addition, in furtherance of the development of its feed development program, AFT planted Moringa on available acreage on the Company's "Thermal" property to be used and has been using it as a component of the feed used in its own aquaculture operations.

	Interest Rate			Maturity	June 30, 2016		December 31, 2015
Related Party Note A		10	%	In Default	$	15,000	$	15,000
Related Party Note B		10	%	In Default		130,000		130,000
Related Party Note C		10	%	In Default		-		74,000
Related Party Note D		10	%	In Default		13,069		13,069
Related Party Note E	None			On Demand		14,458		14,458
Related Party Note F	None			On Demand		15,409		15,409
Total					$	187,936	$	261,936

~~Important~~On June 15, 2016, the Company and the noteholder of Related Party Note ~~about~~C, ~~Forward~~Bio-Global ~~Looking~~Resources, ~~Statements~~Inc., entered into a debt settlement agreement whereby the Company issued 1,100 shares of its preferred stock upon the conversion of note payable – related party of $74,000 and accrued interest – related party of $6,432. The Company recorded this debt settlement as a reduction of debt and interest due and an increase in equity for a capital contribution of $80,432.

19As of June 30, 2016 and December 31, 2015, the Company owed various related parties $187,936 and $261,936, respectively, of which, $158,069 and $232,069, respectively, represents notes payable due to related parties that bear interest at 10% and are in default, and the remainder of $29,867 and $29,867, respectively, bears no interest and are due on demand.

~~Results~~The ofCompany ~~Operations~~has recognized $10,355 and $55,760 in interest expense related to the notes held by related parties for the ~~Three~~ ~~Months~~six months ended ~~March~~June 3130, 2016 ~~compared~~and to2015, ~~March~~respectively, which was included in interest expense on the accompanying condensed consolidated statements of operations. At June 30, 2016 and December 31, 2015, accrued interest payable on notes payable amounted to $80,661 and $76,738, respectively, and is included in accrued expenses – related parties on the accompanying condensed consolidated balance sheets.

~~The~~Management ~~Company~~Fee had revenues for the three month period ended March 31, 2016 of $13,088, down from revenues of $20,247 for the same period the prior year. The 2016 revenues result mainly from the sale of live fish including Tilapia and ~~Silver~~Reimbursement Carp, and to a lesser extent, Moringa leaves cultivated from plants grown on AFT property. Selling, general and administrative expenses for the same three months ended March 31, 2016 were $655,755, up from $279,954 for the same period the prior year. The increases were significantly associated with the consolidation of ~~the~~Expenses ~~Company's financial statements with Aqua Farming Tech, Inc., increased depreciation due~~ to aour ~~larger~~Chief ~~fixed~~Executive asset base in 2016, selling expenses related to the tilapia future contract program and enlarged operations compared to the prior three month period leading to increased general and administrative costs. Officer

WeThe ~~charge~~Company ~~the~~reimburses ~~initial~~its ~~valuation~~chairman ofand ~~the~~chief ~~conversion~~executive ~~feature~~officer for all direct and ~~warrants~~indirect bycosts ~~offsetting~~of ~~the~~services ~~carrying~~provided, ~~value~~including the costs of ~~the~~employee, ~~note~~officer upand todirector ~~the~~compensation ~~principal.~~and ~~Initial~~benefits ~~derivative~~allocable ~~values~~to inus, ~~excess~~and ofall ~~note~~other ~~principal~~expenses ~~are~~necessary ~~immediately~~or ~~charged~~appropriate to ~~interest~~the ~~expense.~~conduct ~~Derivative~~of ~~valuation~~our ~~charged~~business. toTotal ~~interest~~costs ~~expense~~paid ~~was~~by $4the Company,~~028~~ for ~~the~~legal ~~three~~and ~~months~~management ~~ended~~services ~~March~~provided ~~31,~~by ~~2016~~our ~~decreasing~~chairman ~~the~~and ~~fair~~chief ~~value~~executive ofofficer ~~warrants~~related to $6contractual agreements,~~907.~~ ~~This~~fundraising isand ~~down~~general ~~significantly~~day ~~from~~to ~~the~~day ~~derivative~~business ~~charge~~activities, ofwere $~~145~~151,~~104~~ 980 and $88,851 for the ~~same~~six ~~period~~months inended ~~the~~June ~~prior~~30, ~~year~~2016 ~~with~~and ~~the~~2015, ~~decrease~~respectively. ~~substantially~~Additionally, ~~due~~on toMay ~~the~~2, ~~conversion~~2016, ~~and~~the ~~payment~~Company ofgranted ~~notes~~its ~~prior~~chief toexecutive ~~the~~officer ~~reported~~800,000 ~~period. The~~options ~~decrease~~at ina ~~valuation~~fixed ~~charge~~exercise isprice ~~offset~~of by$0.30 ~~the~~per ~~loss~~share. onIn ~~future~~connection ~~fish~~with ~~contracts~~this ofoption ~~$472~~grant,~~522,~~ ~~recognized~~ for the ~~first~~six ~~time in the three~~ months ended ~~March~~June 3130, 2016~~. The significant decline in derivative valuation charge~~, ~~as well as~~ the ~~loss~~Company onrecognized ~~the~~management ~~settlement~~and ofother ~~debt~~fees in– ~~2015~~related parties of $1246,~~992,732~~675 ~~during~~on the ~~three~~accompanying ~~months~~consolidated ~~ended~~statements ~~March~~of ~~31,~~operations ~~2015~~(see ~~that~~Note ~~did~~4). ~~not~~At ~~reoccur~~June in30, 2016, ~~resulted~~the inCompany aowes ~~decline~~$170,349 into ~~Net~~the ~~Loss~~CEO ~~attributable~~which tohas ~~New~~been ~~Global~~reflect ~~for~~in ~~the~~accrued ~~reported~~expenses ~~period~~– torelated ~~$1,140,030~~parties ~~from~~on ~~$2,094,255 for~~ the ~~same~~accompanying ~~period~~condensed ~~the~~consolidated ~~prior~~balance ~~year~~sheet.

~~Emerging~~16 ~~Growth~~Table ~~Company:~~of Contents

WeNEW ~~qualify~~GLOBAL asENERGY, ~~an "emerging growth company" under the 2012 JOBS Act~~INC. ~~Section~~AND ~~107~~SUBSIDIARYCONDENSED ofNOTES ~~the~~TO ~~JOBS~~UNAUDITED ~~Act~~CONSOLIDATED ~~provides~~FINANCIAL ~~that~~STATEMENTSJUNE an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging growth company30, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. 2016

~~The~~Bio ~~Company~~Global has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. These pronouncements did not have any material impact on the financial statements unless otherwise disclosedResources, ~~and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations~~Inc.

	Cash Flows Three Months Ended
	March 31,2016			March 31,2015
Net Cash Provided by (Used in) Operating Activities	$	104,486		$	(199,478	)
Net Cash Used by Investing Activities	$	-		$	(11,875	)
Net Cash (Used in) Provided by Financing Activities	$	(36,298	)	$	200,105
Cash Ending Balance	$	192,933		$	13,760

The Company has entered into the following transactions with a company owned by a shareholder of the Company:

20· Settled $74,000 of outstanding note principal (Related Party Note C) and $6,432 accrued interest related to this note in exchange for issuing 1,100 shares of the Company’s Series A Convertible Preferred Stock during the six months ended June 30, 2016. As of June 30, 2016, $19,026 of interest related to this related party note has been accrued and outstanding. The CEO of this note holder personally provided $15,409 in cash advances to the Company during 2015 and the entire balance remains outstanding as of June 30, 2016 and December 31, 2015 (Related Party Note F). These advances are non-interest bearing and due on demand. · Received 15,840 shares of Series A preferred stock in exchange for $792,000. As of June 30, 2016 and December 31, 2015, the Company has received $438,800 related to the agreement and recorded $353,200 in stock subscription receivable. · Received 40% of tilapia futures sales on a commission basis of $834,168 (See Note 6). · Was paid $101,462 for services and expenses provided to the Company related to tilapia future sales during the six months ended June 30, 2016. · On October 1, 2015, the Company entered into a consulting agreement with related party to provide leads on potential asset and business acquisitions, commercial customers, channel partners, service providers and investors to the Company in exchange for a tiered success fee in the event their efforts secure capital investment or revenue partners for the Company. · The related party consultant is paid $10,000 for each month of advisory services provided to the Company. For the six months ended June 30, 2016 and 2015, consulting fees amounted to $60,000 and zero, respectively, and is included in management fees and other fees – related parties on the accompanying statement of operations. At June 30, 2016 and December 31, 2015, in connection with this agreement, the Company reflected accrued expenses – related parties of $90,000 and $30,000, respectively. · On May 2, 2016, the Company granted this consultant 800,000 options at a fixed exercise price of $0.30 per share. In connection with this option grant, for the six months ended June 30, 2016, the Company recognized management and other fees – related parties of $246,675 (see Note 4).

~~Although~~XL ~~consolidated financials with Aqua Farming Tech~~Biofuels, Inc. show revenues, the Company's cash position is not significant enough to support the Company's daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company's ability to further implement its business plan and generate revenues.

~~Financing~~In ~~Activities~~September 2013, the Company entered into a consulting agreement with a related party company for farm management and development services provided. Pursuant to the agreement, this related party consultant receives $10,000 per month plus expenses for farm-related consulting services. For the six months ended June 30, 2016 and 2015, consulting fees amounted to $60,000 and zero, respectively, and is included in management fees and other fees – related parties on the accompanying statement of operations. At June 30, 2016 and December 31, 2015, in connection with this agreement, the Company reflected accrued expenses – related parties of $90,000 and $30,000, respectively.

~~During~~17 ~~the~~Table ~~three~~of ~~month period ended March 31, 2016, the Company paid $36,298 against outstanding current debt principal.~~ Contents

~~For~~NEW ~~the~~GLOBAL ~~three months ended March 31~~ENERGY, ~~2015, net cash provided from financing activities was $200,105~~INC. ~~During~~ ~~the~~AND ~~quarter~~SUBSIDIARYCONDENSED ~~ending~~NOTES ~~March~~TO ~~31,~~UNAUDITED ~~2015,~~CONSOLIDATED ~~the~~FINANCIAL ~~Company~~STATEMENTSJUNE ~~borrowed an additional $314~~30,~~800~~ ~~from related parties, and repaid $114,695 against outstanding debt principal.~~2016

~~The~~Additionally, the Company has ~~historically~~entered ~~met~~into ~~its~~the ~~cash~~following ~~needs~~transactions ~~through a combination of cash flows from operating activities along~~ with ~~long~~this ~~and~~related ~~short term borrowings and through the sale of its stock and the sale of future fish contracts.~~party:

~~Contractual~~· ~~Obligations~~Holds two notes payable from the Company. The first note has a balance of $13,069 (Related Party Note D) as of June 30, 2016 and December 31, 2015, and bears interest at 10%. This note has accrued $5,387 in related party interest as of June 30, 2016. The 2nd note is a cash advance from this related party totaling $14,458 (Related Party Note E) as of June 30, 2016 and December 31, 2015. This note bears no interest and is due on demand. · A cosigner and guarantor on the bank loan for the 221-kW DC solar photovoltaic electric system on the Thermal farm. These panels are owned and the current loan is paid for by AFT. As of June 30, 2016 and December 31, 2015, $477,767 and $498,459 was still owed on this loan, respectively. · Owner of a 174.37 kW-DC Photovoltaic System on the Mecca farm, land owned by AFT and leased to the related party for a period of 10 years at a total cost of $1.00, designed to cover 90% of energy required by the Mecca farm. This system is subject to an agreement between this related party and AFT. For the six months ended June 30, 2016 and 2015, fees amounted to $10,500 and zero, respectively, and is included in management fees and other fees – related parties on the accompanying statement of operations. At June 30, 2016 and December 31, 2015, the Company has accrued $57,750 and $47,250 for the amounts due related to this agreement, respectively, and is included in accrued expenses - related parties and on the accompanying consolidated balance sheets. · On May 2, 2016, the Company granted this consultant 800,000 options at a fixed exercise price of $0.30 per share. In connection with this option grant, for the six months ended June 30, 2016, the Company recognized management and other fees – related parties of $246,675 (see Note 4).

The company has acquired Net Revenue interests and crop leases (see Overview of Financial Condition above). In addition, the Company has been reviewing various real property to utilize in its business plan and has been exploring the use of project finance structures to fund such acquisition and development of business activities. The Company expects to enter into such transaction or transactions during the next 12 months. There are currently no transactions under contract and there is no assurance that the company will be able to complete such transactions. Other

InDuring ~~August~~the six months ended June 30, 2016 and 2015, the Company ~~entered~~incurred ~~into~~farm amanagement ~~sales~~and ~~commission~~accounting ~~agreement~~services ~~with~~of a$42,000 ~~related~~and ~~party~~$28,000, ~~for~~respectively, ~~the~~to ~~sale~~prior owners of ~~tilapia~~AFT ~~futures.~~who ~~Per~~are ~~the~~now ~~agreement~~beneficial ~~the~~shareholders ~~related~~of ~~party~~the isCompany ~~entitled~~and toacting ~~40%~~president of ~~all~~AFT. ~~futures~~At ~~sales~~June ~~when~~30, ~~the~~2016 ~~buyer~~and isDecember ~~referred~~31, by2015, ~~the~~amounts due to this related ~~party.~~beneficial Asshareholder ofamounted ~~March~~to 31$325,500 ~~2016~~and $283,000, respectively, and are included in accrued expenses – related parties on the ~~Company~~accompanying ~~has~~consolidated ~~paid~~balance ~~$705~~sheets. Additionally,~~536~~ to the related party, ~~which~~ is ~~recorded~~a ascosigner ~~deferred~~and ~~commission~~guarantor ason athe ~~result~~bank ofloan ~~$1,712,591~~for inthe ~~future~~221-kW ~~fish~~DC ~~sales.~~solar ~~The~~photovoltaic ~~payments~~electric ~~received~~system ~~will~~on bethe ~~held~~Thermal asfarm. ~~deferred~~These ~~revenue~~panels are owned and the ~~commissions~~current loan is paid asfor aby ~~deferred~~AFT. ~~commission~~As onof ~~the~~June ~~Company's~~30, ~~balance~~2016 ~~sheet~~and ~~until~~December ~~the~~31, ~~fish~~2015, ~~are~~$477,767 ~~delivered~~and in$498,459 ~~2016~~was still owed on this loan, respectively.

~~Commitments~~On May 2, 2016, the Company granted to a company who is considered a related party and ~~Capital~~is ~~Expenditures~~the Company’s joint venture partner in a certain project, 800,000 options at a fixed exercise price of $0.30 per share. In connection with this option grant, for the six months ended June 30, 2016, the Company recognized management and other fees – related parties of $246,675 (see Note 4).

~~The~~NOTE ~~Company~~8 ~~had~~- noSUBSEQUENT ~~material commitments for capital expenditures as of March 31, 2016.~~ EVENTS

~~Off-Balance~~On ~~Sheet~~July ~~Arrangements~~22, 2016, the Company and a third party entered into a debt settlement agreement. Pursuant to the agreement, debt of $69,000 was settled for 100,000 shares of the Company’s common stock, resulting in a gain on this settlement of $53,000.

~~Mecca~~On ~~Solar~~August ~~Panels~~17, 2016, the Company issued 55,000 shares of common stock to a consultant for services rendered. The shares were valued at their fair value using the quoted share price on the date of grant of $0.16 per common share. Accordingly, the Company recorded stock-based consulting fees of $8,800.

21Subsequent to June 30, 2016, the Company received $296,000 from the sale of future contracts for the delivery of fish, with the actual fish to be delivered over a period of one year beginning from the contract date and when the fish reach one pound or greater in weight.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

The following discussion and analysis is intended as a review of significant factors affecting our financial condition and results of operations for the periods indicated. The discussion should be read in conjunction with our consolidated financial statements and the notes presented herein. In addition to historical information, the following Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. Our actual results could differ significantly from those anticipated in these forward-looking statements as a result of certain factors discussed in this Form 10-Q.

Overview and Financial Condition

New Global Energy, Inc. ("NGE" or the "Company") is a sustainable agriculture and aquaculture company organized as a Wyoming corporation on January 24, 2012 with executive offices located in Brevard County, Florida. The Company focuses on the use of advanced technology and farming techniques with the goal of increasing production and decreasing costs. The Company is focused on internal growth and growth through the acquisition of high-growth firms, assets and properties in the Green market space; industry segments of interest to the Company include sustainable agriculture, aquaculture and solar. Management is targeting growth stage assets, operations and companies that possess proprietary market edge and demonstrate solid opportunity to scale their business. We expect to pursue special opportunities that are anticipated to accelerate shareholder value by consolidating certain tiers of the $5 Trillion per year fragmented Green and Renewable Energy industry.

The first portion of the Company's development plan includes the development of its Global Energy Plantation ("GEP") using its Global Cell concept which combines alternative energy (source of usable energy intended to replace fuel sources without the undesired consequences of the replaced fuels) production, sustainable agriculture (practice of farming using principles of ecology, the study of relationships between organisms and their environment) and aquaculture (the processes of farming of aquatic organisms such as fish, crustaceans, mollusks and aquatic plants). In summation, our development plan will utilize non centralized solar panels to produce power for its own use and to feed into the power grid serving local power needs while producing farm grown fish, a process currently in operation, and, in future operations after the current year, shrimp.

Important Note about Forward Looking Statements

Forward-looking statements such as this are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by a forward-looking statement. These risks and uncertainties include, without limitation: (1) the potential acquisitions or mergers may not be consummated in a timely manner, if at all; (2) any merger agreement may be terminated in circumstances that require the Company to pay a termination fee or reimburse certain expenses; (3) the diversion of management's attention from the Company's ongoing business operations; (4) the ability of the Company to retain and hire key personnel; (5) the effect of the announcement of any acquisition or Merger on the Company's business relationships, operating results and business generally; (6) competitive responses to any proposed Merger; and (7) the failure to obtain any requisite approvals to any Merger, such as stockholder approval. The Company expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Results of Operations for the Three and Six Months Ended June 30, 2016 compared to the Three and Six Months Ended June 30, 2015

We had revenues for the three months ended June 30, 2016 of $26,715, as compared to revenues of $9,391 for the three months ended June 30, 2015, an increase of $17,324. The Company had revenues for the six months ended June 30, 2016 of $39,803, as compared to $29,638 for the six months ended June 30, 2015, an increase of $10,165. The 2016 revenue increases result mainly from the sale of live fish including Tilapia and Silver Carp, and to a lesser extent, Moringa leaves cultivated from plants grown on AFT property.

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Cost and expenses for the three months ended June 30, 2016 were $1,364,097 as compared to $220,691 for the three months ended June 30, 2015, an increase of $1,143,406. Costs and expenses for the six months ended June 30, 2016 were $2,492,404 as compared to $500,644 for the six months ended June 30, 2015, an increase of $1,991,760 These increases were primarily associated with an increase in costs of sales related to an increase in sales, an increase in depreciation expense, an increase in management and other fees – related party of $864,268 related to the granting of stock options to management and related party consultants in May 2016, an increase in provision for loss on future delivery of presold fish, and an increase in general and administrative expenses related to increased operations as compared to the comparable periods in the previous year. During 2016, we recorded a provision for total anticipated losses on the future delivery of presold fish by considering total estimated costs to develop the fish for sale compared to total anticipated revenues in the period in which such losses are identified. The provisions for estimated losses on the future delivery of presold fish requires us to make certain estimates and assumptions, including those with respect to the future cost to grow the fish to maturity. Estimates of the future cost include assumptions as to costs of feed, utilities, labor and other indirect costs. If any of these or other assumptions and estimates do not materialize in the future, we may be required to record additional provisions for estimated losses on the future delivery of presold fish. During the six months ended June 30, 2016, management analyzed the estimated loss per pound from all outstanding future fish contracts. After management's review, for the three and six months ended June 30, 2016, the Company recognized a loss of $127,940 and $600,492 on the future fish contracts, respectively.

Other income (expenses) for the three months ended June 30, 2016 were $(9,410) as compared to $41,776 for the three months ended June 30, 2015, a change of $(51,186) attributable to a decrease in gain on derivative valuation of $76,792 and a decrease in interest expense of $25,606. Other expenses for the six months ended June 30, 2016 were $38,109 as compared to $1,833,732 for the six months ended June 30, 2015, a decrease of $1,795,623 attributable to a decrease in loss on settlement of debt recorded in the 2015 period of $1,992,732 to zero in the 2016 period, a decrease in gain on derivative valuation of $217,868 related to the valuation of derivative liabilities and a decrease in interest expense of $33,759, offset by an increase in loss on disposal of fixed assets of $13,000.

For the three months ended June 30, 2016, we incurred a net loss of $1,346,792 or $0.10 per common share (basic and diluted) as compared to a net loss of $169,524 or $0.00 per common share (basic and diluted) for the three months ended June 30, 2015, an increased net loss of $1,177,268. For the six months ended June 30, 2016, we incurred a net loss of $2,490,710 or $0.18 per common share (basic and diluted) as compared to a net loss of $2,304,738 or $0.16 per common share (basic and diluted) for the six months ended June 30, 2015, an increased net loss of $185,972.

Emerging Growth Company

We qualify as an "emerging growth company" under the 2012 JOBS Act. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period.

The Company has implemented all new relevant accounting pronouncements that are in effect through the date of these financial statements. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Cash Flows for the Six Months Ended June 30, 2016 Compared to the Six Months Ended June 30, 2015

The following summarizes the key components of our cash flows for the six months ended June 30, 2016 and 2015:

	Six Months Ended June 30,
	2016			2015
Net cash used in operating activities	$	(42,388	)	$	(358,293	)
Net cash used in investing activities		(3,500	)		-
Net cash (used in) provided by financing activities		(64,606	)		339,796
Net decrease in cash	$	(110,494	)	$	(18,497	)

Although consolidated financials with Aqua Farming Tech, Inc. show revenues, the Company's cash position is not sufficient enough to support the Company's daily operations for the next twelve months. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company's ability to further implement its business plan and generate revenues.

Beginning in the 4^thquarter 2015, the Company commenced the sale of future contracts for the sale of fish, with the actual fish to be delivered within one year of each respective future fish contract. In connection with the sale of future fish contracts, we have collected approximately $2,040,000 in cash through June 30. 2016. These funds have been used for working capital purposes including for the purchase of fish food, the payment of a 40% commission on all future fish contract sales to a related party, payment of management and other fees – related parties, for professional fees and other general and administrative expenses.

Net cash flow used in operating activities was $42,388 for the six months ended June 30, 2016 as compared to $358,293 for the six months ended June 30, 2015, a decrease of $315,905.

●

Net cash flow used in operating activities for the six months ended June 30, 2016 primarily reflected net loss of approximately $2,491,000 and the add-back of non-cash items consisting of a gain on derivative valuation of approximately $11,000, and changes in operating assets and liabilities primarily consisting of an increase in accounts receivable of approximately $16,000, an increase in deferred commissions – related party of approximately $463,000 related to the prepayment of commissions on future fish sales, an increase in deposits of approximately $14,000, and a decrease in accounts payable of approximately $189,740, offset by non-cash items, consisting of loss realized upon disposal of fixed assets of $13,000, depreciation of $222,391, and stock based compensation and fees of $896,567, and changes in operating assets and liabilities primarily consisting of an increase in accrued expenses of approximately $84,000, an increase in accrued expenses – related party of approximately $349,000, an increase in accrued loss of future delivery of presold fish of $600,492, and an increase in deferred revenue of approximately $1,159,000.

●

Net cash flow used in operating activities for the six months ended June 30, 2015 primarily reflected net loss of approximately $2,305,000 and the add-back of non-cash items mainly consisting of gain on derivative valuation of approximately $229,000, and change in operating assets and liabilities consisting of a decrease in accrued expenses of approximately $14,000, offset by non-cash items primarily consisting of loss realized upon settlement of debt of approximately $1,993,000, and depreciation of approximately $96,000, and changes in operating assets and liabilities primarily consisting of a decrease in inventory of approximately $37,000 and an increase in accounts payable of approximately $60,000.

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Net cash flow used in investing activities was $3,500 for the six months ended June 30, 2016 which reflected in purchase of property and equipment. We did not incur any investing activities for the six months ended June 30, 2015.

Net cash flow used in financing activities was $64,606 for the six months ended June 30, 2016 as compared to net cash flow provided by financing activities of $339,796 for the six months ended June 30, 2015. During the six months ended June 30, 2016, we made repayments on debt of approximately $64,000, and repayments on related party debt of approximately $2,000, offset by proceeds from increase in bank drafts of approximately $2,000. During the six months ended June 30, 2015, we received proceeds from issuance of preferred and common stock of approximately $156,000, and proceeds from related party notes payable of approximately $260,000, offset by repayments on debt of approximately $74,000, and repayments on related party debt of approximately $2,000.

The Company has historically met its cash needs through a combination of cash flows from operating activities along with long and short term borrowings and through the sale of its stock and the sale of future fish contracts.

Contractual Obligations

Commitments and Contingencies and Capital Expenditures

In August 2015, the Company entered into a sales commission agreement with a related party for the sale of tilapia futures. Per the agreement the related party is entitled to 40% of all futures sales when the buyer is referred by the related party. As of June 30, 2016, the Company has paid $834,168 to the related party, which is recorded as deferred commission as a result of $2,039,788 in future fish sales. The payments received will be held as deferred revenue and the commissions paid as a deferred commission on the Company's balance sheet until the fish are delivered.

The Company had no material commitments for capital expenditures as of June 30, 2016.

Off-Balance Sheet Arrangements

Mecca Solar Panels

On December 11, 201l, the Company's subsidiary, Aqua Farming Technologies, Inc. "AFT", entered into a land lease and solar panel easement agreement with a related party. Per the agreement, AFT leased land under its ownership, called Mecca, to the related party for a 10 year period beginning at the date of solar panel installation in 2014 and at a total cost of $1.00 for the entire lease period. In exchange for the lease agreement, the related party purchased, at a cost of $540,987, a solar panel array installed at the Mecca property. As a fee for the energy provided to AFT's farm and equipment by the installed solar panels, AFT is committed to pay $3,130 per month for 72 months, beginning at installation date, to the builder of the solar array, Sun Valley Solar, Inc. or its assignee. In addition, on October 1, 2016, AFT will begin paying the related party $2,500 a month for the rest of the useful life of the solar array.

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk

Not required for smaller reporting companies.

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ITEM 4. Controls and Procedures

We maintain "disclosure controls and procedures," as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. We conducted an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15 of the Exchange Act. Based on this Evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our Disclosure Controls were not effective as of the end of the period covered by this report. ~~Our disclosure controls and procedures are not effective as a result of the following material weaknesses:~~

a)Our ~~The~~disclosure ~~Company~~controls ~~lacks the financial infrastructure to account for complex transactions which may result in a greater than normal risk that material errors may occur in the financial statements~~ and ~~not~~procedures beare ~~detected timely. b) The Company does~~ not ~~have~~effective as a ~~full~~result ~~time CFO, and currently relies upon independent financial reporting consultants for review~~ of ~~critical~~the ~~accounting~~following ~~areas and disclosures of~~ material ~~non-standard transactions. c) The Company lack sufficient personal to allow for proper segregation of duties.~~weaknesses:

	a)	The Company lacks the financial infrastructure to account for complex transactions which may result in a greater than normal risk that material errors may occur in the financial statements and not be detected timely.

	b)	The Company does not have a full time CFO, and currently relies upon independent financial reporting consultants for review of critical accounting areas and disclosures of material non-standard transactions.

	c)	The Company lacks sufficient personnel to allow for proper segregation of duties.

	d)	The Company does not have an independent audit committee to provide oversight of management.

Changes in Internal Controls

22We have also evaluated our internal control for financial reporting and there have been no significant changes in our internal controls or in other factors that could significantly affect those controls subsequent to the date of their last evaluation.

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PART II - OTHER INFORMATION

ITEM 1. Legal Proceedings

There are no pending legal proceedings. The Company may subject to other legal proceedings that arise in the ordinary course of its business and from prior management activities. Other than as previously disclosed, in the opinion of present management, the aggregate liability, if any, with respect to these other actions will not materially adversely affect our financial position, results of operations or cash flows.

ITEM 1A. Risk Factors

Not required for smaller reporting companies.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

~~The~~On ~~Company~~May ~~issued~~2, no2016, ~~shares~~we ofissued ~~its~~100,000 common ~~stock~~shares ~~during~~for ~~the~~warrants ~~reported~~exercised ~~period~~on March 23, 2016.

ITEM 3. Defaults Upon Senior Securities

None

ITEM 4. ~~Other~~Mine ~~Information~~Safety Disclosures

23Not applicable

ITEM 5. ~~Exhibits~~Other Information

31.1	Section 302 Certification By Chief Executive Officer and Principal Financial Officer
32.1	Section 906 Certification of Principal Executive Officer and Principal Financial Officer

None

24ITEM 6. Exhibits

~~SIGNATURES~~a) Exhibits

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

31.1	Section 302 Certification By Chief Executive Officer

31.2	Section 302 Certification By Principal Financial Officer

32.1	Section 906 Certification of Principal Executive Officer and Principal Financial Officer

	NEW GLOBAL ENERGY, INC.
Dated: June 10, 2016	By:	/s/ Perry D. West
		Perry D. West
		CEO and Director

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25SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	NEW GLOBAL ENERGY, INC.

Dated: September 12, 2016	By:	/s/ Perry D. West
		Perry D. West
		CEO, CFO and Director (Principal Executive and Accounting Officer)

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