GLOBAL ENERGY INC

CIK:0001090967|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended		108 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
OPERATING EXPENSES -
General and Administrative expenses	$ (84)	$ (50)	$ (173)	$ (202)	$ (9,830)
LOSS FROM OPERATIONS	(84)	(50)	(173)	(202)	(9,830)
Interest expenses	(89)	(83)	(171)	(167)	(3,386)
Other losses, net					(790)
Loss from operations of discontinued component					(1,200)
Gain on sale of subsidiary					484
Gain on extinguishment of debts					110
NET LOSS FOR THE PERIOD	$ (173)	$ (133)	$ (344)	$ (369)	$ (14,612)
BASIC AND DILUTED NET LOSS PER SHARE	$ (0.001)	$ (0.0004)	$ (0.001)	$ (0.001)
WEIGHTED AVERAGE NUMBER OF SHARES USED IN COMPUTING BASIC AND DILUTED NET LOSS PER SHARE	317,753,571	317,753,571	317,753,571	317,753,571

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended		108 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit (Net loss) for the period	$ (344)	$ (369)	$ (14,612)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	1		71
Gain from sale of subsidiary			(484)
Impairment of assets			779
Share based compensation expenses			2,253
Expenses in respect of the convertible debentures	164	165	3,082
Increase in accrued interest on short term loan from related parties			20
Increase in accrued interest on short term loans			46
Debt extinguishment			(110)
Increase (decrease) in accrued severance and vacation	1	2	55
Increase (decrease) in other accounts receivable and advance from supplier	15	(45)	(3,786)
Increase (decrease) in other accounts payable accrued expenses and advances from third party	162	242	5,760
Net cash used in operating activities	(1)	(5)	(6,926)
CASH FLOWS FROM INVESTING ACTIVITIES:
Lease deposits			(18)
Proceeds from sale of subsidiary			693
Repayment of advance of machinery			150
Payment for purchasing of fixed assets			(1,383)
Net cash used in investing activities			(558)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of shares - net of issuance expenses			3,370
Loan received from shareholders and related parties			528
Loans received			316
Debentures repaid			(70)
Proceeds from debt issuance			46
Loans repaid			(493)
Proceeds from issuance of convertible debentures and warrants net of issuance expenses			3,720
Net cash provided by financing activities			7,417
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(1)	(5)	(67)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	2	21	68
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1	16	1
NON-CASH TRANSACTION:
Conversion of debentures into shares			100
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest			181
Cash paid during the period for income taxes

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS:
Cash and cash equivalents	$ 1	$ 2
Prepaid expenses	14	29
T o t a l current assets	15	31
PROPERTY PLANT AND EQUIPMENT, net of accumulated depreciation	1	1
T o t a l assets	16	32
CURRENT LIABILITIES:
Accrued expenses	1,804	1,641
Short term loans from related parties	18	18
Debentures convertible into shares	5,940	5,776
T o t a l current liabilities	7,762	7,435
ACCRUED SEVERENCE AND VACATION	57	56
T o t a l liabilities	7,819	7,491
CAPITAL DEFICIENCY:
Share capital - Common shares of $0.001 par value each: Authorized: 750,000,000 shares at June 30, 2014 and December 31, 2013 Issued and outstanding: 317,753,571 shares at June 30, 2014 and December 31, 2013	318	318
Additional paid-in capital	5,349	5,349
Warrants	1,215	1,215
Accumulated deficit during development stage	(14,612)	(14,268)
Accumulated deficit before development stage	(73)	(73)
T o t a l capital deficiency	(7,803)	(7,459)
T o t a l liabilities net of capital deficiency	$ 16	$ 32