The accompanying notes are an integral part of these statements

15

GLOBALINK, LTD.

Consolidated Statements of Cash Flows

For the year ended December 31, 2014 and 2013

(Expressed in U.S. Dollars)

	2014	2013
	$	$
Cash provided by (used in):
Operating activities
Net loss for the year	(114,242)	(91,112)
Non-cash item:
Amortization	1,398	1,247
Changes in non-cash working capital:
Decrease (Increase) in accounts receivable	57,058	(26,194)
Decrease in other current assets	4,475	3,817
(Decrease) Increase in accounts payable and accrued liabilities	(96,083)	81,897
(Decrease) Increase in other current liabilities	(12,358)	7,170
Total cash used in operating activities	(159,752)	(23,175)
Investing activities
Acquisition of fixed assets	(145)	(2,548)
Total cash used in investing activities	(145)	(2,548)
Financing activities
Advances from (repayment to) shareholders	(62,297)	12,171
Proceeds from share issuance	1,050,000	-
Total cash provided by financing activities	987,703	12,171
Increase (decrease) in cash	827,806	(13,552)
Effect of exchange rate changes on balance of cash held in foreign currencies	(17,757)	(7,206)
Cash, beginning of the year	426,088	446,846
Cash, end of the year	1,236,137	426,088
Supplemental information on cash flows
Income taxes paid	-	10,716
Interest paid	-	-

There were no non-cash investing or financing activities during the years ended December 31, 2013 and 2014.

The accompanying notes are an integral part of these statements

16

GLOBALINK LTD. And Subsidiary

Notes to the Consolidated Financial Statements

December 31, 2014

(Expressed in U.S. Dollars)

1.

NATURE OF OPERATIONS

Globalink, Ltd. (the “Company”) was incorporated in the State of Nevada on February 3, 2006. The Company has focused its efforts on internet hotel booking services and has developed a proprietary online hotel booking program for connecting users with available rooms in hotels across the world. In order to gain the access to hotels, the Company acquired OneWorld Hotel Destination Service Inc. (“OneWorld”) in Vancouver, British Columbia, Canada on October 31, 2008. OneWorld is a hotel booking company which has established relationships with major hotel chains. Since the acquisition, OneWorld became a wholly-owned subsidiary of the Company.

2.

SIGNIFICANT ACCOUNTING POLICIES

Statement of presentation

These consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“US GAAP”).

Continuance of operation

These consolidated financial statements prepared in conformity with US GAAP contemplate continuation of the Company as a going concern. As of December 31, 2014, the Company has an accumulated deficit of $289,066 since inception. Its ability to continue as a going concern depends upon whether it develops profitable operations and continues to raise adequate financing.  However, management believes that the Company has sufficient working capital to meet its projected minimum financial obligations for the next fiscal year. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

Consolidation

The consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiary. All inter-company transactions and balances between the Company and its subsidiary have been eliminated upon consolidation.

The subsidiary is consolidated from the date on which control is transferred to the Company and will cease to be consolidated from the date on which control is transferred out of the Company.

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Use of estimates

The preparation of consolidated financial statements in conformity with US GAAP requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities and provisions, income and expenses and the disclosure of contingent assets and liabilities at the date of these financial statements.  Estimates are used for, but not limited to, the selection of the useful lives of fixed assets, provision necessary for contingent liabilities, allowance for doubtful debt associated with accounts receivable, fair values, revenue recognition, and taxes. Management believes that the estimates utilized in preparing its consolidated financial statements are reasonable and prudent. Actual results may differ from these estimates.  

Foreign currency translation

The Company’s financial information is presented in United States dollars (“US dollars”). The functional currency of the Company is the US dollar. The functional currency of the Company’s subsidiary is the Canadian dollar (“CAD”). Transactions by the Company’s subsidiary which are denominated in currencies other than CAD are remeasured into CAD at the exchange rate prevailing at the date of the transaction. Exchange gains and losses resulting from transactions denominated in a currency other than CAD are included in the consolidated statements of comprehensive loss as exchange gain or loss. The financial statements of the Subsidiary are translated into US dollars in accordance with ASC830, “Foreign Currency Matters”. The financial information is first presented in CAD and then is translated into US dollars at year-end exchange rates as to assets and liabilities and average exchange rates as to revenue and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

Accounts receivable

Trade receivables are carried at original invoice amount. Accounts receivable are written off to bad debt expense using the direct write-off method. Receivables past due for more than 120 days are considered delinquent. Management determines uncollectible accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions and by using historical experience applied to an aging of accounts. Recoveries of trade receivables previously written off are recorded when received.

Fixed assets

Furniture, fixtures and equipment are recorded at cost less accumulated amortization. Amortization is computed using the declining balance method, other than leasehold improvements which is computed using the straight line method over the lease term. Estimated rates of amortization are as follows:

18

Computer equipment

30%, declining balance

Computer equipment

45% declining balance

Furniture and equipment

20%, declining balance

Leasehold improvements

5 years, straight-line

Fair Value

The Company measures fair values in accordance with accounting guidance that defines fair value, provides guidance for measuring fair value and requires certain disclosures. The guidance also discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

-

Level 1: Observable inputs such as quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

-

Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

-

Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

The inputs used in the fair value measurement should be from the highest level available. In instances where the measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level input that is significant to the fair value measurement in its entirety.

As at December 31, 2014, the Company’s financial instruments are comprised cash, accounts receivable, accounts payable and accrued liabilities and other current liabilities. Cash is measured at fair value using Level 1 inputs. With the exception of cash, all financial instruments held by the Company are measured at amortized cost. The fair values of these financial instruments approximate their carrying value due to their short-term maturities.

Goodwill

The Company recognizes goodwill in accordance with ASC805 “Business Combination”. Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed, if any. The goodwill impairment test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, goodwill of the reporting unit would be considered impaired. To measure the amount of the impairment loss, the implied fair value of a reporting unit's goodwill is compared to the carrying amount of that goodwill. If the carrying amount of a reporting unit's goodwill exceeds the implied fair value of that goodwill, an impairment loss is indicated. The Company concluded that there were no indicators of impairment with respect to the Company's goodwill as of December 31, 2013 and 2014.

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Impairment Reviews for Long-Lived Assets

Long-lived assets such as property, equipment and goodwill are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable. When required impairment losses on assets to be held and used are recognized based on the fair value of the asset. The fair value is determined based on estimates of future cash flows, market value of similar assets, if available, or independent appraisals, if required. If the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount and fair value of the asset.  When fair values are not available, the Company estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets.  The Company did not recognize any impairment losses for any periods presented.

Revenue Recognition

The Company recognizes revenue once the service is rendered and all the significant risks and rewards of the service have been transferred to the customer. As a result, revenue from hotel booking services are recognized when customers check in to the hotels. Amounts received from customers for services not yet rendered are included in other current liabilities as unearned revenue.

In accordance with the ASC 605 “Revenue Recognition”, the Company reports its revenue as an agent, on the net amount retained, which is the amount billed to a customer less the amount paid to a hotel.

Income Taxes

The Company accounts for income taxes following the assets and liability method in accordance with the ASC 740 “Income Taxes.” Under such method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company applies the accounting guidance issued to address the accounting for uncertain tax positions. This guidance clarifies the accounting for income taxes, by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements as well as provides guidance on derecognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years that the asset is expected to be recovered or the liability settled.

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Earnings (Loss) per Common Share

Basic earnings (loss) per common share is determined by dividing earnings (loss) by the weighted average number of shares of common stock outstanding during the year. Diluted earnings (loss) per common share is determined by dividing earnings (loss) by the diluted weighted average number of shares outstanding. Diluted weighted average number of shares reflects the dilutive equity instruments, if any, of potentially dilutive common shares, such as stock options and warrants calculated using the treasury stock method. In periods with reported net operating losses, all common stock options and warrants are deemed anti-dilutive such that basic net loss per share and diluted net loss per share are equal.

Recent Accounting Pronouncements

In June 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. This ASU does the following, among other things: a) eliminates the requirement to present inception-to-date information on the statements of income, cash flows, and shareholders' equity, b) eliminates the need to label the financial statements as those of a development stage entity, c) eliminates the need to disclose a description of the development stage activities in which the entity is engaged, and d) amends FASB ASC 275, “Risks and Uncertainties”, to clarify that information on risks and uncertainties for entities that have not commenced planned principal operations is required. The amendments in ASU No. 2014-10 related to the elimination of Topic 915 disclosures and the additional disclosure for Topic 275 are effective for public companies for annual and interim reporting periods beginning after December 15, 2014. Early adoption is permitted. The Company has evaluated this ASU and early adopted during the year ended December 31, 2013.

In April 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under the new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations only if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. This guidance also changes an entity’s requirements when presenting, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation. A discontinued operation may include a component of an entity, or a business or non-profit activity. The guidance is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of the new requirements is not expected to have a material impact on the Company’s consolidated financial statements.

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In May 2014, the FASB issued a comprehensive new revenue recognition standard for contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The core principle of this standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, the standard provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include the capitalization and amortization of certain contract costs, ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. This guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early application is prohibited. The standard permits the use of either the retrospective or cumulative effect transition method. This guidance will be applicable to the Company at the beginning of its first quarter of fiscal year 2017. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.In August 2014, the FASB issued Accounting Standards Update 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessment of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements (or within one year after the date on which the financial statements are available to be issued, when applicable). Further, an entity must provide certain disclosures if there is substantial doubt about the entity’s ability to continue as a going concern. The requirement is effective for annual periods ending after December 15, 2016, and interim periods thereafter, early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements.

3.

OTHER CURRENT ASSETS

The items comprising the Company’s other current assets are summarized below:

	December 31, 2014	December 31, 2013
	$	$
Deposits to hotels	23,021	24,476
Other deposits to suppliers	4,131	4,038
Credit card receivable	1,669	4,782
Total other current assets	28,821	33,296

4.

ACCOUNTS RECEIVABLE

Accounts receivables consist of trade receivables from travel agents. There are no allowance for doubtful accounts set up as at December 31, 2013 and 2014.

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5.

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities mainly consist of trade payables to hotels and travel service suppliers.

6.

OTHER CURRENT LIABILITIES

The items comprising the Company’s other current liabilities are summarized below:

	December 31, 2014	December 31, 2013
	$	$
Unearned revenue Corporate taxes payable (refundable)	7,881 (1,315)	9,687 9,852
Sales tax payable	1,522	2,010
Total other current liabilities	8,088	21,549

7.

TRANSACTIONS WITH RELATED PARTIES

During the year ended December 31, 2014, the Company paid or accrued director and management fees of $43,974 (2013 - $Nil) to two former directors and one current director and corporate secretary of the Company.

As of December 31, 2013, advances from shareholders consist of $62,297 of cash contributed by two former directors and one current director and corporate secretary of the Company for expenses paid by them on behalf of the Company. These advances have no fixed terms of repayment and bear no interest. The Company repaid the advances during the year ended December 31, 2014.

8.

SHAREHOLDERS’ EQUITY

Share capital

Authorized

- 500,000,000 of common voting shares with a par value of $0.0002 per share.

Issued and outstanding

As of December 31, 2014, the Company has 42,485,000 shares (December 31, 2013 – 24,785,000) issued and outstanding. There were no share issuances during the year ended December 31, 2013.

During the year ended December 31, 2014:

In June 2014, the Company issued 12,000,000 common shares to two new directors for proceeds of $700,000. The Company also issued 200,000 common shares to an arm’s length party for $10,000 of share subscriptions received during the year ended December 31, 2012.  

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In August 2014, the Company issued 1,500,000 common shares to an arm’s length party for total proceeds of $150,000.  

In December 2014, the Company issued 4,000,000 common shares to an arm’s length party for total proceeds of $200,000.

The Company has no options or warrants outstanding as of December 31, 2014 or 2013. There were no option or warrant transactions during the years ended December 31, 2014 or 2013.

9.

REVENUE

The Company reports its revenue as an agent on a net basis. The following table shows the gross amount the Company received from customers and the booking costs during the years ended December 31, 2013 and 2014:

For the year ended	December 31, 2014	December 31, 2013
	$	$
Gross amount received	3,148,970	3,411,951
Costs	(2,802,186)	(3,119,619)
Revenue	346,784	292,332

10.

SEGMENTED INFORMATION

The Company currently operates in one business segment, which is the internet hotel booking service. Accordingly, the Company does not have separately reportable segments.

11.

INCOME TAXES

A reconciliation of income taxes at statutory rates with the reported taxes is as follows:

For the years ended December 31,	2014	2013
	$	$
Loss before taxes	(114,242)	(69,748)
Expected income tax  expenses Adjustment of prior year income tax expense Carry back of current year expense income tax expense Change in statutory, foreign exchange rates and other	(29,703) (1,503) 41,328 (4,250)	(17,960) 20,568 16,131 5,864
Change in unrecognized deductible temporary differences	(5,872)	(3,239)
Total income tax expense	-	21,364

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The significant components of the Company’s unrecorded deferred tax assets and liabilities are as follows:

	December 31, 2014	December 31, 2013
Deferred tax assets	$	$
Property and equipment	1,000	-
Non-capital losses available for future periods	72,000	31,000
Unused deferred tax assets	73,000	31,000

The significant components of the Company’s temporary differences and unused tax losses are as follows:

Tax attributes are subject to review, and potential adjustment, by tax authorities.

12.

PROPOSED JOINT VENTURE

On May 4, 2014, the Company entered into a joint venture agreement (the “Agreement”) with Shizhen Bio-Technology Co., Ltd. (“Shizhen Biotech”) in Jiangsu Province, China. Subsequently on May 22, 2014, Globalink (Xuzhou) Bio-Technology Co., Ltd. (the “JV”) was incorporated in Jiangsu Province, China pursuant to the Agreement. The JV has total registered capital of $10,000,000, whereby the Company will invest $8,000,000 to earn an 80% interest of the JV and Shizhen Biotech will invest $2,000,000 to earn the remaining 20%. 15% of the total $10,000,000 investment should be paid up within three months after the incorporation of the JV, with the balance being paid up in the following two years. The JV will be involved in the business of biological science and technology research, biological technology popularization service, and fruit and vegetable distribution. Currently, the JV focuses on developing health supplement products from the extract of gingko leaves. There were no transactions incurred in the JV from its incorporation to the period ended December 31, 2014. There is no liability if the Company eventually does not make any investment in the JV. However, the Company may lose its right to the JV if no investment is made within a reasonable period.

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ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None

ITEM 9A.  CONTROLS AND PROCEDURES

Controls and Procedures.

Evaluation of Disclosure Controls and Procedures:

We maintain disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act that are designed to insure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, or the persons performing similar functions, to allow timely decisions regarding required disclosure.

Under the supervision and with the participation of our CEO and CFO, or the persons performing similar functions, our management has evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this annual report.  Based on that evaluation, our CEO and CFO, or the persons performing similar functions, concluded that our disclosure controls and procedures were not effective as of December 31, 2014.

Management’s Annual Report on Internal Control over Financial Reporting:

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act, for the Company. Our internal control over financial reporting is the process designed by and under the supervision of our CEO and CFO, or the persons performing similar functions, to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of our financial statements for external reporting in accordance with accounting principles generally accepted in the United States of America.  Management has determined that our internal control over financial reporting was not effective as of December 31, 2014.

Management recognizes that there are inherent limitations in the effectiveness of any system of internal control, and accordingly, even effective internal control can provide only reasonable assurance with respect to financial statement preparation and may not prevent or detect material misstatements. In addition, effective internal control at a point in time may become ineffective in future periods because of changes in conditions or due to deterioration in the degree of compliance with our established policies and procedures.

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Management has evaluated the effectiveness of our internal control over financial reporting using the criteria established in Internal Control – Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).  

The matter involving internal control over financial reporting that our management considered to be a material weakness was:

-

Lack of segregation of duties as we have an inadequate number of personnel to properly implement control procedures.

The aforementioned material weakness was identified by our CEO and CFO in connection with the audit of our consolidated financial statements as of December 31, 2013.

Management believes that the material weakness set forth above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee, the inadequate accounting personnel results in ineffective oversight in the monitoring of required internal controls over financial reporting, which weaknesses could result in a material misstatement in our financial statements in future periods.

Management’s Remediation Initiatives

In an effort to remediate the identified material weakness and enhance our internal controls over financial reporting, the Company plans to make the necessary improvements to remediate the deficiency.

This annual report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting.  We were not required to have, nor have we, engaged our independent registered public accounting firm to perform an audit of internal control over financial reporting pursuant to the rules of the Commission that permit us to provide only management’s report in this annual report.

Evaluation of Changes in Internal Control over Financial Reporting:

Under the supervision and with the participation of our CEO and CFO, or those persons performing similar functions, our management has evaluated changes in our internal controls over financial reporting that occurred during the year ended December 31, 2014.  Based on that evaluation, our CEO and CFO, or those persons performing similar functions, did not identify any change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ITEM 9B.  OTHER INFORMATION

None

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PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

Our bylaws provide that the number of directors who shall constitute the whole board shall be such number as the board of directors shall at the time have designated.  Each director shall be selected for a term of one year and until his successor is elected and qualified. Vacancies are filled by a majority vote of the remaining directors then in office with the successor elected for the unexpired term and until the successor is elected and qualified.

The directors and executive officers are as follows:

NAME                                AGE      POSITIONS HELD          SINCE

Hin Kwok Sheung                

63     CEO/President,

February 1, 2014

Director

 To Present

Robin Young                        

71      

Secretary/Director

Inception to Present

Jia Charles Yao                     

68

Director

February 1, 2014

  To Present

Ke Feng (Andrea)Yuan

42

CFO, Director

February 2015 to Present

Yun Fei Liu

34

Director

February 2015 to Present

Zhao Hui Wu

44

Director

February 2015 to Present

Business Experience of Officers and Directors

Hin Kwok Sheung

Chief Executive Officer and President, Director, and Chairman of the Board, was appointed to his positions with the company on February 1, 2014.  He was a director of the Xin Tong Tai Storage and Logistics Company from 1995 through 2011.  In 2009, Mr. Sheung worked with the city of Chengdu, China as a commercial property developer.  In 2012, Mr. Sheung was the director and CEO of Wanxing Property Developments Company and of the Golden Imperial Gardens Development Company.  Mr. Sheung graduated from the University of Heilongliang with a B.A. in linguistics with a focus in Russian.

Robin Young

Secretary and Director, has been the principal of Young Engineering Corporation, an engineering consulting firm for the building industry since 1975.  He has also been the president of Landtek Properties Ltd., a development company since 1994 and Coreng Construction Corporation, a company providing project and construction management as well as general contracting from 1976 to 1990.  Mr. Young was listed in the “Who’s Who in British Columbia” and “International Who’s Who

28

of Professionals”.  Mr. Young received a bachelor of applied science degree in civil engineering from the University of British Columbia in 1963.  He conducted his post-graduate studies both at McGill University and at Concordia University and received his master’s degree in civil and structural engineering in 1970 from Concordia University.

Jia Charles Yao

Director, was the general manager of TangShan Xintungtai Storage and Transportation Company Ltd. in China from 2001 through 2012.  TangShan is engaged with the storage, transportation, and logistics of materials.  From 2003 through 2006, Mr. Yao was a research student in the MBA program in the Faculty of Economic Management at the Capital University of Economics and International Trades.

Ke Feng (Andrea) Yuan

Chief Financial Officer, Director. Ms. Andrea Yuan is a Chartered Professional Accountant (CPA)/Certified General Accountant (CGA) in British Columbia and a Certified Public Accountant in New Hampshire.  Ms. Yuan obtained her Bachelor of Economics from Shanghai University of Finance and Economics in 1994.   Ms. Yuan started her career as an internal auditor and then as team head of the internal audit department at the Bank of China's Shanghai Pudong branch in China from 1994 through to 1999.  After arriving in Canada in spring of 1999, Ms. Yuan worked as an accountant at a small accounting firm while she worked towards her CGA designation.

Ms. Yuan moved to Davidson and Company LLP, Chartered Accountants, in 2004 where she worked in the firm’s audit group.  From November 2006 until 2009, Ms. Yuan was employed as an audit manager at Davidson. From 2009 until October 2011, Ms. Yuan was employed as an audit principal at Davidson.  In addition to overseeing a variety of Canadian public company audit files, she was also responsible for conducting the audits of various foreign public companies including Chinese and Korean companies.

Ms. Yuan started her own financial and management consulting company Black Dragon Financial Consulting Services Inc. in November 2011. Currently, Ms. Yuan acts as Chief Financial Officer or financial consultant for several public companies listed on the TSX Venture Exchange.  

Ms. Yuan is fluent in both English and Mandarin.

Zhao Hui Wu

Director. Mr. Zhao Hui Wu received his Bachelor degree from the Northeast University in 1994. In 1998, Mr. Wu passed the qualification exam of law society in 1998, and was called to the Bar in 1999. Mr. Wu started to practice law since then. In 2011, Mr. Wu established Beijing YongRui Law Firm with other partners. Currently, Mr. Wu is Managing Partner of Beijing YongRui Law Firm.

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Mr. Wu’s business practice focuses on corporate, finance, Chinese stock exchange, acquisition and merger, and real estate areas. Ms. Wu has been involved in projects in various industries such as real estate, finance, import & export, chemical industry, liquor store, retail, IT, and etc. Mr. Wu is also familiar with laws related to patent, trade mark and  intellectual rights related to equipment and machinery.

Mr. Wu acts as legal council for China Custom Head Office, Beijing Public Health Bureau and Beijing Physical Training Bureau. Mr. Wu’s clients include many prestigious national companies such as CFOCO Group, China Resources (Holdings) Company Ltd. (CR), Sinochem Group, China International Capital Corporation Limited (CICC), China Great Wall Industry Corp. (CGWIC), China National Precision Machinery I/E Corp. (CPMIEC), Hony Capital and others. For example, COFCO Group has four companies listed in Hong Kong, namely, China Foods (HK00506), China Agri-Industries Holdings (HK00606), Mengniu Dairy (HK02319),and COFCO Packaging Holdings (HK00906) and three companies listed in mainland China, namely, COFCO Tunhe (600737), COFCO Real Estate (000031) and BBCA (000930).

Yun Fei Liu

Director. Mr. Yun Fei Liu is an experienced businessman who is strong in marketing and sales area. Mr. Liu started to work as sales person in 2004 in marketing department of a top IT mall at Zhongguanchun Science Park (Chinese Silicon Valley). In 2005, Mr. Liu worked as sales manager at Yongjiqu Auto Service Ltd., and then as General Manager of Beijing Branch from 2006 to 2008. In 2008, Mr. Liu established his own company Dipu Auto Services Ltd. In the same year, the company became a member of Specialty Equipment Market Association (SEMA), an auto aftermarket association formed in 1963 in America with 6,383 company members worldwide. In 2014, due to his excellent marketing and sales skills, Mr. Liu was invited to Globalink to help promote and develop its travel business in China.

Section 16(a) Beneficial Ownership Reporting Compliance

Under Section 16(a) of the Securities Exchange Act of 1934, as amended, an officer, director, or greater-than-10% shareholder of the registrant must file a Form 4 reporting the acquisition or disposition of registrant's equity securities with the Securities and Exchange Commission no later than the end of the second business day after the day the transaction occurred unless certain exceptions apply.  Transactions not reported on Form 4 must be reported on Form 5 within 45 days after the end of the registrant's fiscal year.  Such persons must also file initial reports of ownership on Form 3 upon becoming an officer, director, or greater-than-10% shareholder.  To our knowledge, based solely on a review of the copies of these reports furnished to it, the officers, directors, and greater than 10% beneficial owners have complied with all applicable Section 16(a) filing requirements during 2014.

Code of Ethics Policy

The registrant has prepared but has not yet adopted a code of ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions.

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Corporate Governance

There have been no changes in any state law or other procedures by which security holders may recommend nominees to our board of directors.  In addition to having no nominating committee for this purpose, we currently have no specific audit committee and no audit committee financial expert.  Based on the fact that our current business affairs are simple, any such committees are excessive and beyond the scope of our business and needs.

ITEM 11.  EXECUTIVE COMPENSATION

During the year ended December 31, 2014, the Company paid US$11,658 each to ex-directors, Daniel Lo and Ben Choi. The Company also paid US$20,658 to Robin Young, Secretary and director of the Company. No compensation was paid to executives during the year ended December 31, 2013.

Directors Compensation.  

We do not have any standard arrangements by which directors are compensated for any services provided as a director.  No cash has been paid to the directors in their capacity as such.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDERS MATTERS

The following table sets forth, as of March 30, 2015, the number and percentage of outstanding shares of the registrant’s common stock owned by (i) each person known to us to beneficially own more than 5% of its outstanding common stock, (ii) each director, (iii) each named executive officer, and (iv) all officers and directors as a group.

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Name of Beneficial Owners      

Common Stock

                               

       Beneficially Owned    

Percentage (1)

Robin Young (2)                    

    3,502,150                     8.24%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Hin Kwok Sheung

   10,000,000

    23.54%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Jia CharlesYao

    2,000,000

     4.71%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Yun Fei Liu

    4,000,000

      9.42%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Directors and Officers,

as a group(4 persons)          

  19,502,150                   45.90%

Barry Phillips

              

    3,750,000                     8.83%

7903 - 93a Ave.

Edmonton, Alberta T6C 1V2

Petula Wong                     

    3,750,000                     8.83%

Rm C 12/F 55 Tong Mi Road

Kowloon, Hong Kong

Ben Choi                        

    3,750,000                     8.83%

426 Main Street

Suite #202

Vancouver, B.C. V6A 2T4

Daniel Lo                       

    3,750,000                      8.83%

333 - 13988 Cambie Road

Richmond, B.C. Canada V6V 2K4

 (1) Based upon 42,485,000 issued and outstanding as of March 30, 2015.

 (2) Owned by Fidelity Clearing Canada ULC, controlled by Robin Young.  Fidelity Clearing Canada ULC is located at 483 Bay Street, Suite 200, South Tower, Toronto, ON M5G 2N7.

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ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

Shareholder Advances

Advances from shareholders are for the reimbursement of expenses incurred on behalf of the company by the three principal shareholders and they bear no interest.  These notes are short term advances which are paid generally within one year.  The balance at December 31, 2013 is $62,297.  We do have any balance outstanding as of December 31, 2014.

Director Independence

During the year ended December 31, 2014, the registrant’s board of directors consisted of Hin Kwok Sheung, Jia Charles Yao, Robin Young, Ben Choi and Daniel Lo.  None of them is independent as such term is defined by a national securities exchange or an inter-dealer quotation system.  During the fiscal year ended December 31, 2014, there were no transactions with related persons other than as described in the section above entitled “Item 11.  Executive Compensation”.

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Audit Fees

We have incurred fees and expenses from Davidson & Company LLP, Chartered Accountants of $31,100 and $Nil, respectively, for the 2014 and 2013 fiscal years.  Fees included work completed for our annual audit and for the review of our financial statements included in our Forms 10-K and 10-Q.

Tax Fees

We have incurred fees and expenses from Davidson & Company LLP, Chartered Accountants of $7,100 and $Nil, respectively, for the 2014 and 2013 fiscal years for professional services rendered for tax compliance, tax advice, and tax planning.

All Other Fees

The Board of Directors, acting as the Audit Committee considered whether, and determined that, the auditor's provision of non-audit services was compatible with maintaining the auditor's independence.  All of the services described above for fiscal years 2014 and 2013 were approved by the Board of Directors pursuant to its policies and procedures.  We intend to continue using Davidson & Company LLP, Chartered Accountants solely for audit and audit-related services, tax consultation and tax compliance services, and, as needed, for due diligence in acquisitions.

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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a)(1)  List of Financial statements included in Part II hereof

Report of Independent Registered Public Accounting Firm

Balance Sheet:

  December 31, 2014 and 2013

Statements of Operations:

  For the years ended December 31, 2014 and 2013

Statements of Changes in Shareholders’ Equity

  For the years ended December 31, 2014 and 2013

Statements of Cash Flows:

  For the years ended December 31, 2014 and 2013

Notes to Financial Statements

  For the years ended December 31, 2014 and 2013

 (a)(2) List of Financial Statement schedules included in Part IV hereof:  None

 (a)(3) Exhibits

 The following exhibits are included herewith:

Exhibit No.	Description
31	Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32	Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

*XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections. (Incorporated by reference to the 10-K filed March 31, 2014)

Following are a list of exhibits which we previously filed in other reports which we filed with the SEC, including the Exhibit No., description of the exhibit and the identity of the Report where the exhibit was filed.

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NO.	DESCRIPTION	FILED WITH	DATE FILED
3.1	Articles of Incorporation	Form SB-2	May 10, 2006
3.2	Bylaws	Form SB-2	May 10, 2006
4	Specimen Stock Certificate	Form SB-2	May 10, 2006
10	Share Exchange Agreement	Form 8-K	March 6, 2009

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Report to be signed on its behalf by the undersigned duly authorized person.

Dated: March 30, 2015

/s/Hin Kwok Sheung

By: Hin Kwok Sheung, Chief Executive Officer and President

In accordance with the requirements of the Securities Exchange Act of 1934, as amendment, this report has been signed by the following persons in the capacities and on the dates stated.

Globalink, Ltd.

(Registrant)

By: /s/Ke Feng (Andrea) Yuan                          

Dated: March 30, 2015

          Ke Feng (Andrea) Yuan

           Chief Financial Officer, Director

Director, Chief Executive Officer

(As a duly authorized officer on behalf of the registrant and as Principal Executive Officer)

By: /s/Hin Kwok Sheung           

Dated: March 30, 2015

          Hin Kwok Sheung

          Chief Executive Officer, President and Director

By: /s/Ke Feng (Andrea) Yuan                           

Dated: March 30, 2015

          Ke Feng Yuan

          Chief Financial Officer, and Director

By: /s/Yun Fei Liu                          

Dated: March 30, 2015

          Yun Fei Liu

          Director

By: /s/Robin Young                    

Dated: March 30, 2015

          Robin Young

          Director, Secretary

By: /s/Jia Charles Yao               

Dated: March 30, 2015

          Jia Charles Yao

          Director

By: /s/Zhao Hui Wu                                    

Dated: March 30, 2015

          Zhao Hui Wu

          Director

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