UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED: ~~June~~September 30, 2022

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

For the transition period from __________ to __________

Commission File Number: 333-251389

GLOBAL GOLD ROYALTY INC.

(Exact name of registrant as specified in its charter)

Nevada

84-2834915

(State or other jurisdiction

of Incorporation or organization)

(I.R.S. Employer

Identification No.)

701 North Green Valley Pkwy, Suite 200

Henderson, NV 89074

(Address of principal executive offices, Zip Code)

(702) 354-8751

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Ticker symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $0.001 par value

(Title of class)

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

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

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

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated Filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

As of ~~June~~September 30, 2022 there were 80,621,200 shares of common stock, par value $0.001 per share, issued and outstanding.

TABLE OF CONTENTS

		Page
PART I

Item 1.	Financial Statements.	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	15
Item 4.	Controls and Procedures.	15

PART II

Item 1.	Legal Proceedings.	16
Item 1A.	Risk Factors.	16
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	16
Item 3.	Defaults Upon Senior Securities.	16
Item 4.	Mine Safety Disclosures.	16
Item 5.	Other Information.	16
Item 6.	Exhibits.	17

SIGNATURES		18

Table of Contents

ITEM 1. FINANCIAL STATEMENTS

Global Gold Royalty Inc

Global Gold Royalty Inc
CONDENSED BALANCE SHEETS


	September 30, 2022			December 31, 2021
	(Unaudited)			(Audited)

ASSETS

CURRENT ASSETS

Cash	$	8,569		$	11,603
Prepaid Assets		45,000			-

TOTAL CURRENT ASSETS		53,569			11,603

NON CURRENT ASSETS
Deposit	$	398		$	398

TOTAL NON CURRENT ASSETS		398			398

TOTAL ASSETS	$	53,967		$	12,001

LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES
Current Liabilities:
Note Payable - Related Party	$	20,000		$	0
Account Payable		4,000			4,000
Accrued Liabilities		1,500			3,500

TOTAL LIABILITIES	$	25,500		$	7,500

COMMITMENTS AND CONTINGENCIES	$	0		$	0

STOCKHOLDERS' EQUITY
Preferred Stock : authorized 20,000,000; $0.001 par value		-			-
Common stock: authorized 180,000,000; $0.001 par value; 80,621,200 shares and 80,261,200 shares issued and outstanding at September 30,2022 and December 31, 2021 respectively*		20,425			20,065
Additional Paid-in Capital		154,875			65,235
Accumulated Deficit		(146,833	)		(80,799	)

Total Stockholders' Equity	$	28,467		$	4,501

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	53,967		$	12,001

*Shares have been retroactively adjusted to reflect the increased number of shares resulting from a 4 for 1 stock split

The accompanying notes are an integral part of these financial statements

CONDENSED BALANCE SHEETS

June 30, 2022 and December 31, 2021

(Unaudited)

	June 30, 2022			December 31, 2021
	(Unaudited)			(Audited)
ASSETS
CURRENT ASSETS
Cash	$	143		$	11,603
Prepaid Assets		67,500
TOTAL CURRENT ASSETS		67,643			11,603
NON CURRENT ASSETS
Deposit	$	398		$	398
TOTAL NON CURRENT ASSETS		398			398
TOTAL ASSETS	$	68,041		$	12,001
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
LIABILITIES
Current Liabilities:
Due to Director	$	6,124		$	0
Account Payable		4,000			4,000
Accrued Liabilities		1,500			3,500
TOTAL LIABILITIES	$	11,624		$	7,500
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred Stock : authorized 20,000,000, $0.001 par value
Common stock: authorized 180,000,000; $0.001 par value; 80,621,200 shares and 80,261,200 shares issued and outstanding at June 30, 2022 and December 31, 2021 respectively*		20,425			20,065
Additional Paid-in Capital		154,875			65,235
Accumulated Deficit		(118,883	)		(80,799	)
Total Stockholders' Equity (Deficit)	$	56,417		$	4,501
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$	68,041		$	12,001

*Shares have been retroactively adjusted to reflect the increased number of shares resulting from a 4 for 1 stock split

The accompanying notes are an integral part of these financial statements

Table of Contents

Global Gold Royalty Inc

Global Gold Royalty Inc
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)

	For Three Months			For Three Months			For Nine Months			For Nine Months
	Ended			Ended			Ended			Ended
	September 30, 2022			September 30, 2021			September 30, 2022			September 30, 2021

REVENUES
Royalty Revenues	$	-			-		$	-			-
Total		-			-			-			-
Operating Expenses:
General and administrative	$	3,350			10,529		$	8,934			38,013
Professional Fees		24,000						56,500
Total Operating Expenses		27,350			10,529			65,434			38,013
Interest Expense		600						600
Net Loss Before Tax	$	(27,950	)		(10,529	)	$	(66,034	)		(38,013	)
Provision for Income Tax		-			-			-			-
Net Loss		(27,950	)		(10,529	)		(66,034	)		(38,013	)
Net loss per share - basic and fully diluted	$	(0.0003	)		(0.0005	)	$	(0.0008	)		(0.0019	)
*Weighted average number of shares outstanding:**		80,621,200			80,060,665			80,480,101			80,025,799

*Shares have been retroactively adjusted to reflect the increased number of shares resulting from a 4 for 1 stock split

The accompanying notes are an integral part of these financial statements

CONDENSED STATEMENTS OF OPERATIONS

For the three months and six months ended June 30, 2022 and 2021

(Unaudited)

	For Three Months			For Three Months			For Six Months			For Six Months
	Ended			Ended			Ended			Ended
	June 30, 2022			June 30, 2021			June 30, 2022			June 30, 2021
REVENUES
Royalty Proceeds	$	-			-		$	-			-
Total		-			-			-			-
Operating Expenses:
General and administrative	$	2,703			14,734		$	5,584			27,484
Professional Fees		29,000						32,500
Total Expenses		31,703			14,734			38,084			27,484
Net Loss Before Tax	$	(31,703	)		(14,734	)	$	(38,084	)		(27,484	)
Provision for Income Tax		-			-			-			-
Net Loss		(31,703	)		(14,734	)		(38,084	)		(27,484	)
Net loss per share - basic and fully diluted	$	(0.0004	)		(0.0007	)	$	(0.0005	)		(0.0014	)
Weighted average number of shares* outstanding:		80,408,382			19,891,599			80,408,382			19,891,599

*Shares have been retroactively adjusted to reflect the increased number of shares resulting from a 4 for 1 stock split

The accompanying notes are an integral part of these financial statements

Table of Contents

Global Gold Royalty Inc

Global Gold Royalty Inc
CONDENSED STATEMENTS OF CASH FLOWS

	For Nine Months			For Nine Months
	Ended			Ended
	September 30, 2022			September 30, 2021

Operating activities:

Net Income	$	(66,034	)	$	(38,013	)

Adjustment to reconcile net loss to net cash provided by operations:
Changes in assets and liabilities:
Security Deposit					(398	)
Account Payable					5,500
Prepaid Expenses		(45,000	)
Accrued Liabilities		(2,000	)		-
Accumulated Depreciation		-			-
Provision for Income Tax		-			-
Net cash provided by operating activities		(113,034	)		(32,911	)

Financing activities:
Proceeds from issuance of common stock		90,000			17,500
Repayment of loan		-			(9,500	)
Demand promissory note		20,000			-
Due to director		-			25,077

Net cash provided by financing activities		110,000			33,077

Investing activities:
Acquisition of Royalty Properties		-			-

Net cash provided by investing activities		-			-


Net increase in cash		(3,034	)		166

Cash, beginning of period		11,603			3,034

Cash, end of period	$	8,569		$	3,200

Supplemental disclosure of cash flow information:

Cash paid during the period

Taxes	$	-		$	-
Interest	$	600		$	-

Non-cash investing and financing activities:
Common stock issued for services	$	90,000		$	-

The accompanying notes are an integral part of these financial statements

CONDENSED STATEMENTS OF CASH FLOWS

For the six months ended June 30, 2022 and 2021

(Unaudited)

	For Six Months			For Six Months
	Ended			Ended
	June 30, 2022			June 30, 2021
Operating activities:
Net Loss	$	(38,084	)	$	(27,484	)
Adjustment to reconcile net loss to net cash provided by operations:
Common Stock Issued for Services		-			-
Changes in assets and liabilities:
Security Deposit		-			(398	)
Account Payable		-			4,000
Prepaid Expenses		(67,500	)		-
Accrued Liabilities		(2,000	)		-
Accumulated Depreciation		-			-
Provision for Income Tax		-			-
Net cash provided by operating activities		(107,584	)		(23,882	)
Financing activities:
Proceeds from issuance of common stock		90,000			9,700
Repayment of loan		-			(9,500	)
Due to director		6,124			23,998
Net cash provided by financing activities		96,124			24,198
Investing activities:
Acquisition of Royalty Properties		-			-
Net cash provided by investing activities		-			-
Net increase in cash		(11,460	)		316
Cash, beginning of period		11,603			3,034
Cash, end of period	$	143		$	3,350
Supplemental disclosure of cash flow information:
Cash paid during the period
Taxes	$	-		$	-
Interest	$	-		$	-
Non-cash investing and financing activities:
Common stock issued for services	$	90,000		$	-

The accompanying notes are an integral part of these financial statements

Table of Contents

Global Gold Royalty Inc

Global Gold Royalty Inc
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)
For the nine months ended September 30, 2022 and 2021
(UNAUDITED)

For the nine months ended September 30, 2021


	Common Stock									Total
	Number of				Additional		Accumulated			Shareholders'
	Shares*		Par Value		Paid in Capital		Deficit			Equity (Deficit)

Balances at December 31, 2020		80,000,000	$	20,000	$	-	$	(26,466	)	$	(6,466	)

Common Stock Issue		70,000	$	18	$	17,482				$	17,500

Net Loss				-		-		(38,013	)		(38,013	)

Cumulative Effect Adjustment		-
Balances at September 30, 2021		80,070,000	$	20,018	$	17,482	$	(64,479	)	$	(26,979	)



For the nine months ended September 30, 2022

		Common Stock					Total
	Number of				Additional		Accumulated			Shareholders'
	Shares		Par Value		Paid in Capital		Deficit			Equity (Deficit)

Balances at December 31, 2021		80,261,200	$	20,065	$	65,235	$	(80,799	)	$	4,501

Common Stock Issue		360,000	$	360	$	89,640				$	90,000

Net Loss				-		-		(66,034	)		(66,034	)

Cumulative Effect Adjustment		-
Balances at September 30, 2022		80,621,200	$	20,425	$	154,875	$	(146,833	)	$	28,467

*Shares have been retroactively adjusted to reflect the increased number of shares resulting from a 4 for 1 stock split

The accompanying notes are an integral part of these financial statements

CONDENSED STATEMENTS OF STOCKHOLDER'S EQUITY (DEFICIT)

For the six months ended June 30, 2022 and 2021

(UNAUDITED)

For the six months ended June 30, 2021

	Common Stock									Total
	Number of				Additional		Accumulated			Shareholders'
	Shares*		Par Value		Paid in Capital		Deficit			Equity (Deficit)
Balances at December 31, 2020		20,000,000	$	20,000	$	-	$	(26,466	)	$	(6,466	)
Common Stock Issued		9,700	$	10	$	9,690				$	9,700
Net Loss				-		-		(27,484	)		(27,484	)
Cumulative Effect Adjustment		-
Balances at June 30, 2021		20,009,700	$	20,010	$	9,690	$	(53,950	)	$	(24,250	)

For the six months ended June 30, 2022

	Common Stock									Total
	Number of				Additional		Accumulated			Shareholders'
	Shares		Par Value		Paid in Capital		Deficit			Equity (Deficit)
Balances at December 31, 2021		80,261,200	$	20,065	$	65,235	$	(80,799	)	$	4,501
Common Stock Issued		360,000	$	360	$	89,640				$	90,000
Net Loss				-		-		(38,084	)		(38,084	)
Cumulative Effect Adjustment		-
Balances at June 30, 2022		80,621,200	$	20,425	$	154,875	$	(118,883	)	$	56,417

*Shares have been retroactively adjusted to reflect the increased number of shares resulting from a 4 for 1 stock split

The accompanying notes are an integral part of these financial statements

Table of Contents

Global Gold Royalty Inc.

Notes to the Condensed Financial Statements

~~June~~September 30, 2022

(Unaudited)

Note 1: Nature of Business

Global Gold Royalty Inc. (the “Company”) was established under the laws of the State of Nevada on August 23, 2019. The Company is engaged in the business of financing mining projects, primarily in precious metals. We seek to generate royalty agreements with mining operators that are in production or about to commence production. Royalties are non-operating interests in mining projects that provide the right to revenues from projects after deducting specified costs.

Note 2: Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed financial statements of Global Gold Royalty, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. Operating results for the three months and ~~six~~nine months ended ~~June~~September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. For further information refer to the financial statements and footnotes for the year ended December 31, 2021 thereto included in the Company’s Form 10-K as filed with the Securities and Exchange Commission.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash is comprised of bank deposits at financial institutions with insured by the Federal Deposit Insurance Corporation. Management believes there is no risk of loss as the Company’s balance does not exceed the maximum amount insured.

Royalty Interests in Mineral Properties and Related Depletion

Royalty interests include acquired royalty interests in production, development and exploration stage properties. The costs of acquired royalty interests are capitalized as tangible assets as such interests do not meet the definition of a financial asset under the ASC guidance. Production stage royalty interests are depleted using the units of production method over the life of the mineral property (as royalty payments are recognized), which are estimated using proven and probable reserves as provided by the operator. Development stage mineral properties, which are not yet in production, are not depleted until the property begins production. Exploration stage mineral properties, where there are no proven and probable reserves, are not depleted. At such time as the associated exploration stage mineral interests are converted to proven and probable reserves, the mineral property is depleted over its life, using proven and probable reserves. The Company has not begun generating revenues from royalty interests.

Table of Contents

Global Gold Royalty Inc.

Notes to the Condensed Financial Statements

~~June~~September 30, 2022

(Unaudited)

Royalty Interests in Mineral Properties and Related Depletion

Asset Impairment

We evaluate long‑lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts of an asset or group of assets may not be recoverable. The recoverability of the carrying value of royalty interests in production and development stage properties is evaluated based upon estimated future undiscounted net cash flows from each royalty interest using estimates of proven and probable reserves and other relevant information received from the operators. We evaluate the recoverability of the carrying value of royalty interests in exploration stage properties in the event of significant decreases in the price of gold and whenever new information regarding the properties is obtained from the operator indicating that production will not likely occur or may be reduced in the future, thus potentially affecting the future recoverability of our royalty interests. Impairments in the carrying value of each property are measured and recorded to the extent that the carrying value in each property exceeds its estimated fair value, which is generally calculated using estimated future discounted cash flows. Estimates of gold price, and operators’ estimates of proven and probable reserves or mineralized material related to our royalty properties are subject to certain risks and uncertainties which may affect the recoverability of our investment in these royalty interests in properties. It is possible that changes could occur to these estimates, which could adversely affect the net cash flows expected to be generated from these royalty interests.

Revenue Recognition

Revenue is recognized pursuant to current guidance in ASC 606 – Revenue from Contracts with Customers (“ASC 606”). Under current ASC 606 guidance, a performance obligation is a promise in a contract to transfer control of a distinct good or service (or integrated package of goods and/or services) to a customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, a performance obligation is satisfied. In accordance with this guidance, revenue attributable to our royalty interests is generally recognized at the point in time that control of the related gold production transfers to our customers. The amount of revenue we recognize further reflects the consideration to which we are entitled under the respective royalty agreement. A more detailed summary of revenue recognition policies for our royalty interests is discussed in Note 4.

Fair Value of Financial Instruments

ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements

The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accrued liabilities and notes payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value.

Basic and Diluted Loss Per Share

The Company computes earnings (loss) per share in accordance with ASC 260-10-45 “Earnings per Share”, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal.

Table of Contents

Global Gold Royalty Inc.

Notes to the Condensed Financial Statements

~~June~~September 30, 2022

(Unaudited)

Basic and Diluted Loss Per Share

Income Taxes

We use the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.

ASC Topic 740.10.30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Topic 740.10.40 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.

Company management has yet to determine when it could generate taxable income, therefore it has not recognized deferred tax assets for the year ended December 31, 2021.

9 Table of Contents

Global Gold Royalty Inc.

Notes to the Condensed Financial Statements

June 30, 2022

(Unaudited)

Note 3: Prepaid Assets

The prepayment balance of $6745,~~500~~000 as of ~~June~~September 30, 2022 represents advances paid to a consultant for consulting services regarding identifying and conducting due diligence on potential targets for business transactions. The prepayment will be used within 1 year beginning on April 18, 2022.

Note 4: Going Concern

As shown in the accompanying financial statements, the Company has incurred cumulative operating losses since inception. As of ~~June~~September 30, 2022, the Company has limited financial resources with which to achieve its objectives and attain profitability and positive cash flows from operations. As shown in the accompanying balance sheets and statements of operations, the Company has an accumulated deficit of $~~118~~146,~~883~~833.

Achievement of the Company’s objectives will depend on its ability to obtain additional financing, to generate revenue from current and planned business operations, and to effectively control operating and capital costs.

The Company plans to fund its future operations by seeking equity and/or debt financing. However, there is no assurance that the Company will be able to achieve these objectives, therefore substantial doubt about its ability to continue as a going concern exists.

Note 5: Revenue Recognition

Under U.S. GAAP, a performance obligation is a promise in a contract to transfer control of a distinct good or service (or integrated package of goods and/or services) to a customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, a performance obligation is satisfied. In accordance with this guidance, revenue attributable to our royalty interests is generally recognized at the point in time that control of the related metal production transfers to our customers. The amount of revenue we recognize further reflects the consideration to which we are entitled under the respective royalty agreement. A more detailed summary of revenue recognition policies for our royalty interests is discussed below.

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Global Gold Royalty Inc.

Notes to the Condensed Financial Statements

September 30, 2022

(Unaudited)

Royalty Interests

Royalties are non-operating interests in mining projects that provide the right to a percentage of revenue from the project after deducting specified costs. We are entitled to payment for our royalty interest in a mining project based on a contractually specified commodity price (for example, a monthly or quarterly average spot price) for the period in which metal production occurred. As a royalty holder, we act as a passive entity in the production and operations of the mining project, and the third-party operator of the mining project is responsible for all mining activities, including subsequent marketing and delivery of all metal production to their ultimate customer. In all of our material royalty interest arrangements, we have concluded that we transfer control of our interest in the metal production to the operator at the point at which production occurs, and thus, the operator is our customer. We have further determined that the transfer of each unit of metal production, comprising our royalty interest, to the operator represents a separate performance obligation under the contract, and each performance obligation is satisfied at the point in time of metal production by the operator. Accordingly, we recognize revenue attributable to our royalty interests in the period in which metal production occurs at the specified commodity price per the agreement, net of any contractually allowable offsite treatment, refining, transportation and, if applicable, mining costs.

The Company has not begun generating revenues from royalty interests.

Note 6: ~~Legal~~Commitments ~~Matters~~and Contingencies

The Company ~~has~~is nonot ~~legal~~a ~~issues~~party to any pending legal proceedings. Nor has the Company presently identified any commitments and contingencies needing to be recorded or disclosed.

Note 7: Liabilities

As of ~~June~~September 30, 2022 and December 31, 2021, the Company has incurred $1125,~~624~~500 and $7,500 in current liabilities. These primarily comprised of payables and accrued expense related to maintaining a company that reports to the U.S. Securities and Exchange Commission.

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Global Gold Royalty Inc.

Notes to the Condensed Financial Statements

~~June~~September 30, 2022

(Unaudited)

Note 8: Capital Stock

On September 28, 2020 the Company issued 80,000,000 post-split (20,000,000 pre-split) shares of common stock for a purchase price of $0.001 per share to the Company’s then sole shareholder on receiving aggregate proceeds of $20,000.

On November 17, 2020 the Company increased its authorized capital to 200,000,000 shares with a par value of $0.001 per share, of which, 180,000,000 shares are designated as common shares and 20,000,000 shares are designated as preferred shares.

On December 17, 2021 the Board of Directors approved a 4 for 1 stock split on all issued and outstanding shares, bringing the total number of shares to 80,261,200 as of December 31, 2021.

A public offering of common stock in the Company commenced on April 26, 2021 when the Form S-1 registration statement filed with the SEC was declared effective. A total of 261,200 post-split (65,300 pre-split) shares at $1.0 per share were allotted.

On April 18, 2022, the Company issued 360,000 shares of common stock for consulting services.

There were no outstanding stock options or warrants.

Note 9: Related Party Transactions

The Company owed its director, also its major shareholder, a total of $6,124 as at June 30, 2022.

The Company issued 360,000 shares to a consultant who owned 0.1% of total issued and outstanding shares of common stock prior to such issue for services to be rendered within 1 year beginning on April 18, 2022.

The Company issued a demand promissory note to its CEO in the principal amount of $20,000 on July 1, 2022. The note bears interest at 12% per annum.

Note 10: Subsequent Events

OnThe ~~July~~Company 1has evaluated its operations after September 30, 2022, the ~~Company~~date ~~issued~~these afinancial ~~demand~~statements ~~promissory~~were ~~note~~available to ~~its~~ ~~CEO~~be inissued ~~the~~and ~~principal~~has ~~amount~~determined ofthat ~~$20,000.~~there ~~The~~were ~~note~~no ~~bears~~significant ~~interest~~subsequent atevents ~~12%~~or ~~per~~transactions ~~annum~~that would require recognition or disclosure in these financial statements.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements which relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled “Risk Factors,” that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

OVERVIEW

The Mining Royalties Business

The mining royalties industry, precious metal in particular, is highly competitive. We compete with other royalty companies and investors in efforts to generate or to acquire existing royalty interests. Resource sector investors and lenders like Sprott Lending and major tier royalties companies like Franco Nevada, Wheaton Precious Metals and Royal Gold are extremely well-capitalized. These major players dominate most of the US and Canadian markets. In order to grow fast and attain a critical mass in asset size, our strategy is to capture opportunities in jurisdictions other than the so-called Tier I jurisdictions which consist of US, Canada and Australia. We believe our geographical focus away from Tier I countries and niche market strategy would afford us competitive edge over our peers. Through employing other key competitive factors in royalty interest generation and acquisition which include the ability to identify and evaluate potential opportunities, transaction structure and consideration, as well as access to capital, we will be able to compete effectively in the face of fierce competition in the mining royalty space.

Regulations

Operators of mines that could be the subject of our royalty interests must comply with numerous environmental, mine safety, land use, waste disposal, remediation and public health laws and regulations promulgated by federal, state, provincial and local governments around the world. Although we, as a royalty interest owner, are not responsible for ensuring compliance with these laws and regulations, failure by the operators to comply with applicable laws, regulations and permits can result in injunctive action, orders to suspend or cease operations, damages, and civil and criminal penalties on the operators, which could have a material adverse effect on our results of operations and financial condition.

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Key Factors Affecting Our Business Operations

We have a limited operating history and the pandemic worldwide practically slowed down the global economies with the mining industry being one of the hardest hit. Safety protocols and travel restrictions that were put in place inevitably impacted on precious metal production. Our long-term success hinges on the ability to significantly build our royalty assets portfolio. Attaining a critical mass in asset size is of paramount importance in the royalties business. Investors should consider our future prospects in light of the risks and challenges encountered by an emerging company in a fiercely competitive industry.

Our business requires a significant amount of capital in order to finance asset generation and acquisition, access to capital would be key before a cash flowing asset portfolio starts generating cash flows to fund the business internally.

Results of Operations

Revenues

We did not achieve revenues from our current operations for the ~~six~~nine months ended ~~June~~September 30, 2022 and 2021. We will not achieve revenues unless we are able to secure royalty rights in mining properties. Since we have not established any sources of revenue to cover our operating costs, we plan to continue to fund our losses through the issuance of our common stock and to borrow from various parties.

Operating Expenses

Operating expenses increased to $3865,~~084~~434 for the ~~six~~nine months ended ~~June~~September 30, 2022, as compared with $2738,~~484~~013 for the same period ended 2021. For the ~~six~~nine months ended ~~June~~September 30, 2022, our operating expenses mainly consisted of $3256,500 in professional fees, for professional services rendered in connection with the Company’s business activities. For the ~~six~~three months ended ~~June~~September 30, ~~2021~~2022, our operating expenses mainly consisted of $2324,000 in professional fees.

Our operating expenses are expected to increase as we further implement our business plan and significant expenses will likely be incurred with heightened business activities in current quarter compared with the previous quarters.

Net Loss

We finished the ~~six~~nine months ended ~~June~~September 30, 2022 with a net loss of $3866,~~084~~034, as compared to a loss of $2738,~~484~~013 during the ~~six~~nine months ended ~~June~~September 30, 2021.

Liquidity and Capital Resources

As of ~~June~~September 30, 2022, we had total current assets of $6753,~~643~~569 and current liabilities of $1125,~~624~~500, resulting in a net working capital of $5628,~~019~~069. As of December 31, 2021, we had total current assets of $11,603 and current liabilities of $7,500, resulting in a net working capital of $4,103.

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Our operating activities used $~~107~~113,~~584~~034 during the ~~six~~nine months ended ~~June~~September 30, 2022 as compared with $2332,~~882~~911 used in operating activities in the ~~six~~nine months ended ~~June~~September 30, 2021. Our negative operating cash flows in 2022 and 2021 are largely the results of our net losses for the periods.

Financing activities provided $96110,~~124~~000 during the ~~six~~nine months ended ~~June~~September 30, 2022 compared with $2433,~~198~~077 provided during the ~~six~~nine months ended ~~June~~September 30, 2021. During the ~~six~~nine months ended ~~June~~September 30, 2022, we ~~received~~issued ~~$6,124~~a note payable in ~~funds~~the ~~from~~amount ~~our~~of ~~director~~$20,000 –to a related party. During the ~~six~~nine months ended ~~June~~September 30, 2021, we received proceeds of $917,~~700~~500 from the issuance of common stock.

In assessing the Company’s liquidity, we closely monitor the cash position and the ability to generate sufficient cash flow from various sources to fund our operating expenditure requirements. The Company’s goal is to always maintain adequate liquidity to meet its working capital needs.

Because the business has limited operating history, no certainty of continuation can be stated. Management has devoted a significant amount of time in the raising of capital from additional debt and equity financing. However, the Company’s ability to continue as a going concern will again be dependent upon raising additional funds through debt and equity financing and generating revenue. There are no assurances the Company will receive the necessary funding or generate revenue necessary to fund operations long-term.

Assuming we raise additional funds and continue operations, we expect to incur additional operating losses during the next one to three quarters and possibly thereafter. We plan to continue to pay or satisfy existing obligation and commitments and finance our operations, as we have in the past, primarily through the sale of our securities and other forms of external financing until such time that we are able to generate sufficient funds internally to finance our operations, of which we can give no assurance.

We intend to rely on the sale of stock and the issuance of debt, to fund our operations. If we are unable to raise cash through the sale of our stock, we will have to scale back our planned operations and may embark on an expansion program later on when alternative means are secured to bridge the funding gap.

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Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Management maintains “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 management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

In connection with the preparation of this quarterly report on Form 10-Q, an evaluation was carried out by management, with the participation of the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of September ~~June~~ 30, 2022.

Based on that evaluation, management concluded, as of the end of the period covered by this report, that our disclosure controls and procedures were effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Securities and Exchange Commission’s rules and forms.

Changes in Internal Controls over Financial Reporting

As of the end of the period covered by this report, there have been no changes in the internal controls over financial reporting during the quarter ended ~~June~~September 30, 2022, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting subsequent to the date of management’s last evaluation.

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PART II. OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A. Risk Factors

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

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

None

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not applicable

Item 5. Other Information

Not applicable

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Item 6. Exhibits

The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our Registration Statement on Form S-1, filed under SEC File Number 333-251389, at the SEC website at www.sec.gov:

Exhibit No.		Description
3.1		Articles of Incorporation*
3.2		Bylaws*
31.1		Sec. 302 Certification of Principal Executive Officer
31.2		Sec. 302 Certification of Principal Financial Officer
32.1		Sec. 906 Certification of Principal Executive Officer
32.2		Sec. 906 Certification of Principal Financial Officer
101		Interactive data files pursuant to Rule 405 of Regulation S-T
101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

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SIGNATURES

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

	Global Gold Royalty Inc.
	Registrant
Date: August 10, 2022	By:	/s/ Sam Kwok
Date: November 14, 2022	By:	/s/ Sam Kwok
		Sam Kwok
		CEO, CFO and Director
		(Principal Executive, Financial and Accounting Officer,)

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