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<SEC-DOCUMENT>0001023175-09-000216.txt : 20090805
<SEC-HEADER>0001023175-09-000216.hdr.sgml : 20090805
<ACCEPTANCE-DATETIME>20090805142705
ACCESSION NUMBER:		0001023175-09-000216
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20090630
FILED AS OF DATE:		20090805
DATE AS OF CHANGE:		20090805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLOBALWISE INVESTMENTS INC
		CENTRAL INDEX KEY:			0001081745
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				870613716
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31671
		FILM NUMBER:		09987079

	BUSINESS ADDRESS:	
		STREET 1:		2157 S. LINCOLN ST
		STREET 2:		2157 S. LINCOLN ST
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84106
		BUSINESS PHONE:		8013232395

	MAIL ADDRESS:	
		STREET 1:		2157 S. LINCOLN ST
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84106
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>gwiv_09q22.htm
<DESCRIPTION>QUARTERLY REPORT ON FORM 10Q FOR THE PERIOD ENDED JUNE 30, 2009
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>FORM 10Q</TITLE>
<META NAME="author" CONTENT="Terri Jackson">
<META NAME="date" CONTENT="07/28/2009">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:681.6px"><P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>UNITED STATES</B></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>Washington, D.C. 20549</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>FORM 10-Q</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt"><B>[X]</B></P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt"><B>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES</B></P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt"><B>EXCHANGE ACT OF 1934</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:48px; font-size:11pt">For the quarterly period ended <U>June 30, 2009</U></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt"><B>[ &nbsp;]</B></P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:48px; font-size:11pt">For the transition period from ___ to ___</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>Commission file number:<U> 000-31671</U></P>
<P style="margin:0px"><BR></P>
<P style="line-height:16pt; margin:0px; font-size:14pt" align=center><B><U>GLOBALWISE INVESTMENTS, INC.</U></B></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>(Exact name of registrant as specified in its charter)</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=384></TD><TD width=240></TD></TR>
<TR><TD valign=top width=384><P style="line-height:13pt; margin-top:7.333px; margin-bottom:0px; font-size:11pt"><U>Nevada &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">(State or other jurisdiction of incorporation or organization)</P>
</TD><TD valign=top width=240><P style="line-height:13pt; margin-top:7.333px; margin-bottom:0px; font-size:11pt"><U>87-0613716 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">(I.R.S. Employer Identification No.)</P>
</TD></TR>
<TR><TD valign=top width=384><P style="line-height:13pt; margin-top:7.333px; margin-bottom:0px; font-size:11pt"><U>2157 S. Lincoln Street, Salt Lake City, Utah </U>&nbsp;&nbsp;</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">(Address of principal executive offices)</P>
</TD><TD valign=top width=240><P style="line-height:13pt; margin-top:7.333px; margin-bottom:0px; font-size:11pt"><U>84106 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">(Zip Code)</P>
</TD></TR>
</TABLE>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><U>(801) 323-2395</U></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>(Registrant&#146;s telephone number, including area code)</P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-size:11pt">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 such filing requirements for the past 90 days.</P>
<P style="line-height:13pt; margin:0px; font-size:11pt">Yes &nbsp;[X] &nbsp;&nbsp;No [ &nbsp;]</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">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 (&#167;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). &nbsp;Yes &nbsp;[ &nbsp;] &nbsp;&nbsp;No [ &nbsp;]</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. &nbsp;See the definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act.:</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=270></TD><TD width=336></TD></TR>
<TR><TD valign=top width=270><P style="line-height:13pt; margin-top:7.333px; margin-bottom:0px; font-size:11pt">Large accelerated filer [ &nbsp;]</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">Non-accelerated filer &nbsp;&nbsp;[ &nbsp;]</P>
</TD><TD valign=top width=336><P style="line-height:13pt; margin-top:7.333px; margin-bottom:0px; font-size:11pt">Accelerated filed [ &nbsp;]</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">Smaller reporting company [X]</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). &nbsp;</P>
<P style="line-height:13pt; margin:0px; font-size:11pt">Yes [X] &nbsp;&nbsp;No [ &nbsp;]</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">The number of shares outstanding of the registrant&#146;s common stock as of July 20, 2009 was 1,139,000. </P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="line-height:13pt; margin:0px; font-size:11pt; page-break-before:always" align=center><B>TABLE OF CONTENTS</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>&nbsp;PART I &#150; FINANCIAL INFORMATION</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt">Item 1. &nbsp;Financial Statements</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">2</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; text-indent:48px; font-size:11pt">Balance Sheets</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">3</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; text-indent:48px; font-size:11pt">Statements of Operations</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">4</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; text-indent:48px; font-size:11pt">Statements of Cash Flows</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">5</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; text-indent:48px; font-size:11pt">Notes to the Financial Statements</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">6</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt">Item 2. &nbsp;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">7</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt">Item 3. &nbsp;Quantitative and Qualitative Disclosures About Market Risk</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">8</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt">Item 4T. &nbsp;Controls and Procedures</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">8</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>PART II &#150; OTHER INFORMATION</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt">Item 6. &nbsp;Exhibits</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">8</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt">Signatures</P>
<P style="line-height:13pt; margin:0px; text-indent:674.267px; font-size:11pt">9</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>PART I &#150; FINANCIAL INFORMATION</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B>ITEM 1. &nbsp;FINANCIAL STATEMENTS</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">The financial information set forth below with respect to our statements of operations for the three and six month periods ended June 30, 2009 and 2008 is unaudited. &nbsp;This financial information, in the opinion of management, includes all adjustments consisting of normal recurring entries necessary for the fair presentation of such data. &nbsp;The results of operations for the six month period ended June 30, 2009, are not necessarily indicative of results to be expected for any subsequent period. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>GLOBALWISE INVESTMENTS, INC.</B></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>&nbsp;</P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>(A Development Stage Company)</P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>Financial Statements</P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>June 30, 2009</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>2</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
</DIV><TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=386.867></TD><TD width=32></TD><TD width=11.2></TD><TD width=8.467></TD><TD width=8.467></TD><TD width=12.733></TD><TD width=96.133></TD><TD width=12.733></TD><TD width=115></TD></TR>
<TR><TD valign=bottom width=683.6 colspan=9><P style="margin:0px; font-family:Arial" align=center><B>Globalwise Investments, Inc.</B></P>
</TD></TR>
<TR><TD valign=bottom width=683.6 colspan=9><P style="margin:0px; font-family:Arial" align=center>(A Development Stage Company)</P>
</TD></TR>
<TR><TD valign=bottom width=683.6 colspan=9><P style="margin:0px; font-family:Arial" align=center>Balance Sheets</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=center>June 30,</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P style="margin:0px; font-family:Arial" align=center>December 31,</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=center>2009</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=center>2008</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P style="margin:0px; font-family:Arial" align=center><B><U>ASSETS</U></B></P>
</TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=center>(Unaudited)</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=418.867 colspan=2><P style="margin:0px; font-family:Arial">CURRENT ASSETS</P>
</TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P style="margin:0px; font-family:Arial">Cash </P>
</TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,859&nbsp;</P>
</TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=430.067 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Assets </P>
</TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>1,859&nbsp;</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>128&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=418.867 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL ASSETS </P>
</TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,859&nbsp;</P>
</TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P style="margin:0px; font-family:Arial" align=center><B><U>LIABILITIES AND STOCKHOLDERS' DEFICIT</U></B></P>
</TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=430.067 colspan=3><P style="margin:0px; font-family:Arial">CURRENT LIABILITIES </P>
</TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=418.867 colspan=2><P style="margin:0px; font-family:Arial">Accounts Payable </P>
</TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59,995&nbsp;</P>
</TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54,995&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=430.067 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Liabilities</P>
</TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>59,995&nbsp;</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>54,995&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=418.867 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities</P>
</TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>59,995&nbsp;</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>54,995&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=430.067 colspan=3><P style="margin:0px; font-family:Arial">STOCKHOLDERS' DEFICIT</P>
</TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=447 colspan=5><P style="margin:0px; font-family:Arial">Common Stock, $.001 par value; 50,000,000 shares</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=438.533 colspan=4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;authorized; 1,139,000 &nbsp;shares issued and &nbsp;outstanding</P>
</TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>1,139&nbsp;</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>1,139&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=418.867 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=430.067 colspan=3><P style="margin:0px; font-family:Arial">Additional paid in Capital</P>
</TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>35,205&nbsp;</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>35,205&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=447 colspan=5><P style="margin:0px; font-family:Arial">Deficit Accumulated During the Development Stage</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>(94,480)</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>(91,211)</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=430.067 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Stockholders' Deficit</P>
</TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>(58,136)</P>
</TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>(54,867)</P>
</TD></TR>
<TR><TD valign=bottom width=386.867><P>&nbsp;</P></TD><TD valign=bottom width=32><P>&nbsp;</P></TD><TD valign=bottom width=11.2><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=8.467><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=96.133><P>&nbsp;</P></TD><TD valign=bottom width=12.733><P>&nbsp;</P></TD><TD valign=bottom width=115><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=447 colspan=5><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT</P>
</TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=96.133><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,859&nbsp;</P>
</TD><TD valign=bottom width=12.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=115><P style="margin:0px; font-family:Arial" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128&nbsp;</P>
</TD></TR>
</TABLE>
<DIV style="width:681.6px"><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-family:Arial" align=center>The accompanying notes are an integral part of these financial statements</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>3</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
</DIV><TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=231.467></TD><TD width=12.333></TD><TD width=7.667></TD><TD width=9.467></TD><TD width=72.267></TD><TD width=9.467></TD><TD width=73.067></TD><TD width=9.467></TD><TD width=72.933></TD><TD width=9.467></TD><TD width=73.067></TD><TD width=9.467></TD><TD width=93.467></TD></TR>
<TR><TD valign=bottom width=683.6 colspan=13><P style="margin:0px; font-family:Arial" align=center><B>Globalwise Investments, Inc.</B></P>
</TD></TR>
<TR><TD valign=bottom width=683.6 colspan=13><P style="margin:0px; font-family:Arial" align=center>(A Development Stage Company)</P>
</TD></TR>
<TR><TD valign=bottom width=683.6 colspan=13><P style="margin:0px; font-family:Arial" align=center>Statements of Operations</P>
</TD></TR>
<TR><TD valign=bottom width=683.6 colspan=13><P style="margin:0px; font-family:Arial" align=center>(Unaudited)</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=center>From</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=center>Inception on</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=154.8 colspan=3><P style="margin:0px; font-family:Arial" align=center>For the three</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=155.467 colspan=3><P style="margin:0px; font-family:Arial" align=center>For the six</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=center>October 3,</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=154.8 colspan=3><P style="margin:0px; font-family:Arial" align=center>months ended June 30,</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=155.467 colspan=3><P style="margin:0px; font-family:Arial" align=center>months ended June 30,</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=center>1997 to</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=center>2009</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=center>2008</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=center>2009</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=center>2008</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=center>June 30,2009</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=243.8 colspan=2><P style="margin:0px; font-family:Arial">REVENUES</P>
</TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:1px solid #000000" valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=243.8 colspan=2><P style="margin:0px; font-family:Arial">EXPENSES</P>
</TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=251.467 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;General &amp; Administrative</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>977&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>1,744&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>3,269&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>4,069&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=right>94,480&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=251.467 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;TOTAL EXPENSES</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>977&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>1,744&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>3,269&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>4,069&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=right>94,480&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=251.467 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Net Operating Loss</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>(977)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>(1,744)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>(3,269)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>(4,069)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=right>(94,480)</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P style="margin:0px; font-family:Arial">&nbsp;</P>
</TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=251.467 colspan=3><P style="margin:0px; font-family:Arial">LOSS BEFORE TAXES</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>(977)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>(1,744)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>(3,269)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>(4,069)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=right>(94,480)</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=231.467><P style="margin:0px; font-family:Arial">TAXES</P>
</TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=243.8 colspan=2><P style="margin:0px; font-family:Arial">NET LOSS</P>
</TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>(977)</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>(1,744)</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>(3,269)</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>(4,069)</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=93.467><P style="margin:0px; font-family:Arial" align=right>(94,480)</P>
</TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=251.467 colspan=3><P style="margin:0px; font-family:Arial">NET LOSS PER SHARE</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=231.467><P>&nbsp;</P></TD><TD valign=bottom width=12.333><P>&nbsp;</P></TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=260.933 colspan=4><P style="margin:0px; font-family:Arial">WEIGHTED AVERAGE SHARES</P>
</TD><TD valign=bottom width=72.267><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=72.933><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=73.067><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=243.8 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;OUTSTANDING</P>
</TD><TD valign=bottom width=7.667><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=72.267><P style="margin:0px; font-family:Arial" align=right>1,139,000&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>1,604,000&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=72.933><P style="margin:0px; font-family:Arial" align=right>1,139,000&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:3px double #000000" valign=bottom width=73.067><P style="margin:0px; font-family:Arial" align=right>1,604,000&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=93.467><P>&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:681.6px"><P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-family:Arial" align=center>The accompanying notes are an integral part of these financial statements</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=281.4></TD><TD width=15.333></TD><TD width=15.333></TD><TD width=15.333></TD><TD width=9.467></TD><TD width=68.867></TD><TD width=14.733></TD><TD width=68.867></TD><TD width=9.467></TD><TD width=86.533></TD></TR>
<TR><TD valign=bottom width=585.333 colspan=10><P style="margin:0px; font-family:Arial" align=center><B>Globalwise Investments, Inc.</B></P>
</TD></TR>
<TR><TD valign=bottom width=585.333 colspan=10><P style="margin:0px; font-family:Arial" align=center>(A Development Stage Company)</P>
</TD></TR>
<TR><TD valign=bottom width=585.333 colspan=10><P style="margin:0px; font-family:Arial" align=center>Statements of Cash Flows</P>
</TD></TR>
<TR><TD valign=bottom width=585.333 colspan=10><P style="margin:0px; font-family:Arial" align=center>(Unaudited)</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=center>From</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=center>Inception on</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=152.467 colspan=3><P style="margin:0px; font-family:Arial" align=center>For the six months ended</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=center>October 3, </P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=152.467 colspan=3><P style="margin:0px; font-family:Arial" align=center>June 30,</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=center>1997Through</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=center>2009</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=center>2008</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=center>June 30, 2009</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial"><B>Cash Flows from Operating Activities</B></P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=281.4><P style="margin:0px; font-family:Arial">Net Loss</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>(3,269)</P>
</TD><TD valign=bottom width=14.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>(4,069)</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>(94,480)</P>
</TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">Adjustment to reconcile net loss to cash provided</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=312.067 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;(used) by operating activities:</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital contributions - expenses</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>6,550&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">Changes in assets and liabilities:</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=312.067 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in inventory</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>(21,744)</P>
</TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in Accounts Payable &amp; Accrued Expenses</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>5,000&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>1,629&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>68,594&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;Net Cash Provided (Used) by Operating Activities</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>1,731&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>(2,440)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>(41,080)</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial"><B>Cash Flows from Investing Activities</B></P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=312.067 colspan=3><P style="margin:0px; font-family:Arial">Purchase of equipment</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>(20,530)</P>
</TD></TR>
<TR><TD valign=bottom width=312.067 colspan=3><P style="margin:0px; font-family:Arial">Loss of cash in spin-off</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>(1,531)</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;Net Cash Used by Investing Activities</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>(22,061)</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial"><B>Cash Flows from Financing Activities</B></P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=312.067 colspan=3><P style="margin:0px; font-family:Arial">Proceeds from stock issuance</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>65,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;Net Cash Provided by Financing Activities</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>65,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=312.067 colspan=3><P style="margin:0px; font-family:Arial">Increase (Decrease) in Cash</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>1,731&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>(2,440)</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>1,859&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">Cash and Cash Equivalents at Beginning of Period</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>128&nbsp;</P>
</TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>2,633&nbsp;</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD style="border-bottom:1px solid #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">Cash and Cash Equivalents at End of Period</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>1,859&nbsp;</P>
</TD><TD valign=bottom width=14.733><P style="margin:0px; font-family:Arial" align=right><U>$</U></P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>193&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right><U>$</U></P>
</TD><TD style="border-bottom:3px double #000000" valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>1,859&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">Supplemental Cash Flow Information:</P>
</TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=312.067 colspan=3><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Stock issued for services</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>20,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=327.4 colspan=4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;Issuance of stock in settlement of debt</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>8,000&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=281.4><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=296.733 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;Cash Paid For:</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=14.733><P>&nbsp;</P></TD><TD valign=bottom width=68.867><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P>&nbsp;</P></TD><TD valign=bottom width=86.533><P>&nbsp;</P></TD></TR>
<TR><TD valign=bottom width=281.4><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Interest</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=296.733 colspan=2><P style="margin:0px; font-family:Arial">&nbsp;&nbsp;&nbsp;&nbsp;Income Taxes</P>
</TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=15.333><P>&nbsp;</P></TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=14.733><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=68.867><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD><TD valign=bottom width=9.467><P style="margin:0px; font-family:Arial" align=right>$</P>
</TD><TD valign=bottom width=86.533><P style="margin:0px; font-family:Arial" align=right>-&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-family:Arial" align=center>The accompanying notes are an integral part of these financial statements</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>5</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="line-height:13pt; margin:0px; font-size:11pt; page-break-before:always" align=center><B>Globalwise Investments, Inc.</B></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>(A Development Stage Company)</P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>Notes to the Financial Statements</P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center>June 30, 2009</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; font-size:11pt" align=justify>NOTE 1 -</P>
<P style="line-height:13pt; margin:0px; text-indent:72px; font-size:11pt" align=justify>BASIS OF FINANCIAL STATEMENT PRESENTATION</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:13pt; margin:0px; padding-left:72px; font-size:11pt" align=justify>The accompanying unaudited condensed financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. &nbsp;Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. &nbsp;The information furnished in the interim condensed financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. &nbsp;Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with the Company&#146;s audited financial statement
s and notes thereto included in its December 31, 2008 Annual Report on Form 10-K. &nbsp;Operating results for the six-months ended June 30, 2009 are not necessarily indicative of the results to be expected for year ending December 31, 2009.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px" align=center>6</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-top:9.6px; margin-bottom:9.6px" noshade size=1.333>
<P style="line-height:13pt; margin:0px; font-size:11pt; page-break-before:always"><I>In this report references to &#147;Globalwise,&#148; &#147;we,&#148; &#147;us,&#148; and &#147;our&#148; refer to Globalwise Investments, Inc.</I></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>FORWARD LOOKING STATEMENTS</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">The Securities and Exchange Commission (&#147;SEC&#148;) encourages companies to disclose forward-looking information so that investors can better understand future prospects and make informed investment decisions. &nbsp;This report contains these types of statements. &nbsp;Words such as &#147;may,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;believe,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;project,&#148; or &#147;continue&#148; or comparable terminology used in connection with any discussion of future operating results or financial performance identify forward-looking statements. &nbsp;You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. &nbsp;All forward-looking statements reflect our present expectation of future events and are subject to a number of important factors and uncertainties that could cause actual results to differ materially from those de
scribed in the forward-looking statements. </P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B>ITEM 2. MANAGEMENT&#146;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B><I>Executive Overview</I></B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">We are a development stage company and have not recorded revenues from operations for the past two fiscal years. &nbsp;During the next twelve months our management intends to actively seek an operating company to acquire or merge with which may provide operating revenue. &nbsp;Based on current regulatory conditions, management believes that it is possible, if not probable, for a company like ours, without many assets or liabilities, to negotiate a merger with, or acquisition of, a viable private company. &nbsp;The opportunity arises principally because of the high legal and accounting fees and the length of time associated with the process of &#147;going public.&#148; &nbsp;However, management believes the struggling global economy will restrict the number of business opportunities available to us and will restrict the cash available for such transactions. &nbsp;There can be no assurance in the current economy that we will be able to acquire an interest
 in an operating company. &nbsp;If a merger or acquisition proves unsuccessful, then it is possible that we may decide not to pursue further merger/acquisition activities.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">As of the date of this filing, we have not identified any assets or business opportunities for acquisition or merger. &nbsp;Potential investors must recognize that our management may effect transactions having a potentially adverse impact upon our shareholders pursuant to the authority and discretion of our management to complete acquisitions without submitting any proposal to the stockholders for their consideration. &nbsp;In addition, because we have limited capital available for investigation of business opportunities and management has limited experience in business analysis, we may not discover or adequately evaluate adverse facts about any particular business opportunity. &nbsp;All risks inherent in new and inexperienced enterprises are inherent in our plan. </P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B><I>Financial Condition</I></B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">We have had recurring operating losses for the past two fiscal years and, historically, we have relied on loans to meet our cash requirements. &nbsp;The majority of our expenses are related to the preparation of our periodic reports under the Exchange Act. &nbsp;These expenses include legal, accounting and professional services and costs required to prepare and file our reports with the SEC. &nbsp;We are unable to pay cash for these services and we will need to borrow or raise additional funds during the next twelve months.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">At June 30, 2009 we had cash of $1,859 and total liabilities of $59,995. &nbsp;In the short term, we intend to rely on debt or equity transactions with third parties and/or related parties to provide operating capital. &nbsp;We may repay this debt with cash, if available, or we may convert the debt into common stock. &nbsp;We also may issue common stock in consideration for services rendered to us.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px" align=center>7</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">If we obtain a business opportunity, then it may be necessary to raise additional capital through the sale of our common stock. &nbsp;We anticipate that the common stock will be issued pursuant to exemptions to registration provided by federal and state securities laws. &nbsp;The purchasers and manner of issuance will be determined according to our financial needs and the available exemptions from the registration requirements. &nbsp;We do not currently intend to make a public offering of our stock. &nbsp;We also note that if we issue more shares of our common stock, then our shareholders may experience dilution in the value per share of the common stock they hold. </P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B><I>Off-Balance Sheet Arrangements</I></B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">None. </P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B>ITEM 3. &nbsp;QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">Not applicable.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B>ITEM 4T. &nbsp;CONTROLS AND PROCEDURES</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B><I>Disclosure Controls and Procedures</I></B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) or 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC. &nbsp;This information is accumulated to allow timely decisions regarding required disclosure. &nbsp;Our President, who serves as our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report. &nbsp;Based on that evaluation, he concluded that our disclosure controls and procedures were effective.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B><I>Management&#146;s Report on Internal Control over Financial Reporting</I></B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). &nbsp;Management conducted an evaluation of the effectiveness of our internal control over financial reporting and determined that there were no changes made in our internal control over financial reporting during the second quarter of our 2009 fiscal year that have materially affected or are reasonably likely to materially affect our internal control over financial reporting. </P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>PART II &#150; OTHER INFORMATION</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B>ITEM 6. &nbsp;EXHIBITS</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B><I>Part I Exhibits</I></B></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt"><U>No.</U></P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt"><U>Description</U></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt">31.1</P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt">Principal Executive Officer Certification</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt">31.2</P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt">Principal Financial Officer Certification</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt">32.1</P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt">Section 1350 Certification</P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt"><B><I>Part II Exhibits</I></B></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt"><U>No.</U></P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt"><U>Description</U></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt">3(i)</P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt">Articles of Incorporation, as amended (Incorporated by reference to exhibit 3.1 of Form 10-QSB, filed October 11, 2001)</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt">3(i)(a)</P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt">Certificate of Correction, effective May 22, 2007 (Incorporated by reference to exhibit 3.1 of Form 8-K, filed June 17, 2007)</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:-17.333px; padding-left:48px; text-indent:-48px; font-size:11pt">3(ii)</P>
<P style="line-height:13pt; margin:0px; padding-left:48px; font-size:11pt">Bylaws of Globalwise (Incorporated by reference to exhibit 3.3 of Form 10-SB, filed October 2, 2000)</P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px" align=center>8</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="line-height:13pt; margin:0px; font-size:11pt" align=center><B>SIGNATURES</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">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.</P>
<P style="margin:0px"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=372></TD><TD width=252></TD></TR>
<TR><TD valign=top width=372><P style="line-height:13pt; margin-top:7.333px; margin-bottom:0px; font-size:11pt"><B>GLOBALWISE INVESTMENTS, INC</B>. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">By: &nbsp;&nbsp;&nbsp;&nbsp;/<I><U>s/ Donald R. Mayer</U></I></P>
<P style="line-height:13pt; margin:0px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Donald R. Mayer</P>
<P style="line-height:13pt; margin:0px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Director</P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal Financial Officer </P>
</TD><TD valign=top width=252><P style="margin-top:7.333px; margin-bottom:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin-top:0px; margin-bottom:3.467px; font-size:11pt">Date: July 31, 2009</P>
</TD></TR>
</TABLE>
<P style="line-height:13pt; margin:0px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px" align=center>9</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>globalwise09june10qex311.htm
<DESCRIPTION>PRINCIPAL EXECUTIVE OFFICER CERTIFICATION
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>Exhibit 31</TITLE>
<META NAME="author" CONTENT="CSPC client">
<META NAME="date" CONTENT="08/01/2009">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="margin:0px">Exhibit 31.1</P>
<P style="margin:0px" align=center><B>PRINCIPAL EXECUTIVE OFFICER CERTIFICATION</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px">I, Donald R. Mayer, certify that:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">1.</P>
<P style="margin:0px; padding-left:48px">I have reviewed this quarterly report on Form 10-Q of Globalwise Investments, Inc.;</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">2.</P>
<P style="margin:0px; padding-left:48px">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period covered by this report; </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">3.</P>
<P style="margin:0px; padding-left:48px">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">4.</P>
<P style="margin:0px; padding-left:48px">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(a) &nbsp;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(b) &nbsp;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(c) &nbsp;Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(d) &nbsp;Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter (the registrant&#146;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">5.</P>
<P style="margin:0px; padding-left:48px">The registrant&#146;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#146;s auditors and the audit committee of registrant&#146;s board of directors (or persons performing the equivalent function):</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(a) &nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize and report financial information; and </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(b) &nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=246></TD><TD width=378></TD></TR>
<TR><TD valign=top width=246><P style="margin-top:6.667px; margin-bottom:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:3.2px">Date: July 31, 2009</P>
</TD><TD valign=top width=378><P style="margin-top:6.667px; margin-bottom:0px"><BR></P>
<P style="margin:0px"><I><U>/s/ Donald R. Mayer</U></I></P>
<P style="margin:0px">Donald R. Mayer</P>
<P style="margin-top:0px; margin-bottom:3.2px">Principal Executive Officer</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>globalwise09june10qex312.htm
<DESCRIPTION>PRINCIPAL FINANCIAL OFFICER CERTIFICATION
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>Exhibit 31</TITLE>
<META NAME="author" CONTENT="Terri Jackson">
<META NAME="date" CONTENT="08/01/2009">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:624px"><P style="margin:0px">Exhibit 31.2</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center><B>PRINCIPAL FINANCIAL OFFICER CERTIFICATION</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">I, Donald R. Mayer, certify that:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">1.</P>
<P style="margin:0px; padding-left:48px">I have reviewed this quarterly report on Form 10-Q of Globalwise Investments, Inc.;</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">2.</P>
<P style="margin:0px; padding-left:48px">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period covered by this report; </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">3.</P>
<P style="margin:0px; padding-left:48px">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report. </P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">4.</P>
<P style="margin:0px; padding-left:48px">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(a) &nbsp;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(b) &nbsp;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(c) &nbsp;Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(d) &nbsp;Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter (the registrant&#146;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-16px; padding-left:48px; text-indent:-48px">5.</P>
<P style="margin:0px; padding-left:48px">The registrant&#146;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#146;s auditors and the audit committee of registrant&#146;s board of directors (or persons performing the equivalent function):</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(a) &nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize and report financial information; and </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:48px">(b) &nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</P>
<TABLE style="font-size:10pt" cellspacing=0><TR height=0 style="font-size:0"><TD width=246></TD><TD width=378></TD></TR>
<TR><TD valign=top width=246><P style="margin-top:6.667px; margin-bottom:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:3.2px">Date: July 31, 2009</P>
</TD><TD valign=top width=378><P style="margin-top:6.667px; margin-bottom:0px"><BR></P>
<P style="margin:0px"><I><U>/s/ Donald R. Mayer</U></I></P>
<P style="margin:0px">Donald R. Mayer</P>
<P style="margin-top:0px; margin-bottom:3.2px">Principal Financial Officer</P>
</TD></TR>
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<BR></P>
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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>globalwise09june10qex32.htm
<DESCRIPTION>SECTION 1350 CERTIFICATION
<TEXT>
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<head><title>Exhibit 32</title> </head> <body style="FONT-SIZE:10pt; COLOR:#000000; LINE-HEIGHT:12pt; FONT-FAMILY:Times New Roman">
<div style=WIDTH:672px> <p style=MARGIN:0px>Exhibit 32.1</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>
<br></p> <p style=MARGIN:0px align=center><b>Globalwise Investments, Inc</b>.</p> <p style=MARGIN:0px align=center>
<br></p> <p style=MARGIN:0px align=center><u>CERTIFICATION OF PERIODIC REPORT</u></p> <p style=MARGIN:0px align=center>Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</p>
<p style=MARGIN:0px align=center>18 U.S.C. Section 1350</p> <p style=MARGIN:0px align=center><br></p>
<p style=MARGIN:0px>The undersigned executive officer of Globalwise Investments, Inc. certifies pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:</p>
<p style=MARGIN:0px><br></p> <p style="MARGIN-TOP:0px; PADDING-LEFT:48px; MARGIN-BOTTOM:-16px; TEXT-INDENT:-48px">a.</p>
<p style="PADDING-LEFT:48px; MARGIN:0px">the quarterly report on Form 10-Q of Globalwise Investments, Inc. for the quarter ended June 30, 2009 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</p>
<p style=MARGIN:0px><br></p> <p style="MARGIN-TOP:0px; PADDING-LEFT:48px; MARGIN-BOTTOM:-16px; TEXT-INDENT:-48px">b.</p>
<p style="PADDING-LEFT:48px; MARGIN:0px">the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of Globalwise Investments, Inc. </p>
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<td width=246 /> <td width=378 /></tr> <tr> <td width=246 valign=top> <p style="MARGIN-TOP:6px; MARGIN-BOTTOM:0px">
<br></p> <p style=MARGIN:0px><br></p> <p style="MARGIN-TOP:0px; MARGIN-BOTTOM:3px">Date: July 31, 2009</p></td>
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<p style=MARGIN:0px><i><u>/s/ Donald R. Mayer</u></i></p> <p style=MARGIN:0px>Donald R. Mayer</p> <p style=MARGIN:0px>Principal Executive Officer</p>
<p style="MARGIN-TOP:0px; MARGIN-BOTTOM:3px">Principal Financial Officer</p></td></tr></table> <p style=MARGIN:0px>
<br></p> <p style=MARGIN:0px><br><br></p></div></body>
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