NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 1 – Nature and Continuance of Operations

Golden Global Corp. (“the Company”), incorporated in the State of Nevada, USA on December 10, 2009, and its wholly-owned subsidiary are engaged in the acquisition, exploration and development of precious metal properties. The Company’s wholly owned subsidiary is Golden Global Mining Corporation which was incorporated in the Province of Alberta, Canada on January 10, 2010. The Company is an exploration stage company in the process of exploring its mineral properties in British Columbia, Canada, and has not yet determined whether these properties contain reserves that are economically recoverable.

These condensed interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2015, the Company had not yet achieved profitable operations and has accumulated losses of $2,947,946 since its inception. The Company expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management anticipates that additional funding will be in the form of equity financing from the sale of common stock. Management may also seek to obtain short-term loans from the directors of the Company. There are no current arrangements in place for equity funding or short-term loans.

The unaudited condensed interim consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The condensed interim consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Although the Company believes that the disclosures are adequate to make the information presented not misleading, certain information and footnote disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), have been condensed or omitted pursuant to such rules and regulations. These condensed interim consolidated financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2015 filed with the SEC.

Note 2 – Summary of Significant Accounting Policies

This summary of significant accounting policies is presented to assist in understanding the unaudited condensed interim consolidated financial statements. The financial statements and notes are the representations of the Company’s management, who is responsible for their integrity and objectivity. These condensed interim consolidated financial statements have been prepared in accordance with the instructions to form 10-Q, and therefore, do not included all the information necessary for a fair presentation of financial position, results of operations and cash flows in conformity with generally accepted accounting principles.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 2 – Summary of Significant Accounting Policies (Continued)

Basis of Presentation

The Company’s condensed interim consolidated financial statements included herein are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. These interim consolidated financial statements include the Company’s subsidiary, Golden Global Mining Corporation, and 100 percent of its assets, liabilities and net income or loss. All inter-company accounts and transactions have been eliminated.

Functional Currency change

As a result of recent operational development, the Company has changed its functional currency to US Dollars (US$) effective on July 1, 2015. The functional currency of the Company’s subsidiary remains in Canadian dollars (“C$”). The Company maintains its financial statements in Canadian dollars (C$). All assets and liabilities of the Company are translated into Canadian dollars at the exchange rate prevailing at the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates during the reporting period. The resulting translation adjustments are included in accumulated other comprehensive income.

Gains or losses resulting from transactions denominated in foreign currencies are included in net loss on the statement of operations as incurred. Exchange gains or losses arising from foreign currency transactions are included in the determination of other comprehensive income for the respective periods.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 4 – Mineral Properties

During the period ended December 31, 2015, the Company did not make any payment in relations to mineral claims (2014 - $Nil). The mineral properties were transferred to a lender as part of a settlement of the Company’s note payable (Note 6).

Note 5 – Due to Related Parties

During the quarter ended December 31, 2015, the Company incurred $29,970 (US$22,500) in consulting fees to related parties and issued 150,000,000 common shares for settlement of $19,830 (US$15,000) consulting fees payable to related parties.

During the quarter ended September 30, 2015, the Company incurred $58,892 (US$45,000) in consulting fees to related parties and issued 300,000,000 common shares for $79,320 (US$60,000) for consulting fees payable to related parties.

During the quarter ended September 30, 2014, the Company issued 1,686,364 common shares for $164,366 (US$154,000) previously accrued consulting fees. Additionally, the Company incurred $32,676 (US$30,000) in consulting fees to related parties.

On December 8, 2014, the Company issued 6,150,000 common shares in lieu of payment for consulting fee of $70,553 (US$61,500) payable to related parties at US $0.01 per common share. At the time of issuance, the Company’s share was traded at US $0.03. As a result, an additional $141,106 (US$123,000) has been recorded as stock-based compensation.

As of December 31, 2015, there was a balance of $149,810 payable to related parties (June 30, 2015 - $215,891).

Amounts due to related parties are non-interest bearing, unsecured and due on demand.

Note 6 –Note payable

On April 28, 2014, the Company entered into a loan agreement for $150,000 with $100,000 to be used towards the purchase of equipment and the balance towards operations. The loan bears interest at an annual rate of 12% and matures on November 30, 2014.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 6 –Note payable (continued)

The terms of repayments are as follows:

Due to the Company’s inability to repay the loan, the collateral has been foreclosed by the lender on October 7, 2015. The title to the Company’s placer gold claims at its McDame property were transferred to the note payable holder, including all assets, equipment, machinery, vehicles and ancillary buildings to process the claims. Accrued interest settled on the foreclosure totaled $11,212.

Note 7 – Convertible Promissory Notes

On February 6, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$16,500 (C$18,259). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full on the maturity date of November 10, 2014. The principal amount of the Note together with interest may be converted into shares of common stock, par value of $0.0001 at the option of the lender at a conversion price equal to thirty five percent at the market price, calculated as the average of the lowest three trading prices during the 10 trading days prior to the conversion. As the note was not repaid on November 10, 2014, a penalty of US$5,473 (C$6,211) has been added to the principal balance of the note. As of September 30, 2015, conversions totaling US$21,113 (C$25,707) have been recorded and 26,828,386 shares of the Company’s common stock have been issued as a result of the conversion.

On April 7, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$32,500 (C$35,656). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full and interest on the maturity date of January 9, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.0001 at the option of the lender at a conversion price equal to forty one percent at the market price, which is the average of the lowest three trading prices during the 10 days prior to the conversion. The note has matured unpaid. As a result, a penalty of US$16,250 (C$18,445) has been added to the principal balance of the note.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 7 – Convertible Promissory Notes (continued)

On April 9, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$42,000 (C$45,793). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full on the maturity date of April 9, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.00001 at the option of the lender at a conversion price equal to fifty percent of the lowest closing price bid during the 18 days prior to the conversion. As the note was not repaid on April 9, 2015, a penalty of US$4,240 (C$5,334) has been added to the principal balance of the note. As of December 31, 2015, conversions totaling US$30,425 (C$39,316) have been recorded and 470,745,097 shares of the Company’s common stock have been issued as a result of the conversion.

On May 27, 2014, the Company entered into a securities purchase agreement to issue two unsecured convertible promissory notes with a principal amount of US$25,000 (C$27,173) each. These promissory notes bear interest at an annual rate of 8% which is to be paid with principal and interest on the maturity date of May 27, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.00001 at the option of the lender at a conversion price equal to fifty percent of the lowest closing price bid during the 18 days prior to the conversion. As of September 30, 2015, conversions totaling US$2,423 (C$3,114) have been recorded and 5,246,000 shares of the Company’s common stock have been issued as a result of the conversion.

On August 1, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$147,500 (C$161,055). This promissory note represents consulting fees paid for investor relation services up to July 31, 2014 and has been recorded as consulting expense. This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full and interest on the maturity date of August 1, 2015. The principal amount of the note together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. On August 20, 2015, a principal amount of US$25,000 was transferred to another holder (See August 20, 2015 note). Additional transfers of US$19,500 and US$105,500 were made on December 31, 2015 (See December 3, 2015 notes). As of December 31, 2015, all principle of the note has been converted or transferred and 57,134,375 shares of the Company’s common stock have been issued as a result of the conversion.

On November 18, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$18,000 (C$20,362). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full on the maturity date of November 18, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.001 at the option of the lender.

On February 20, 2015, the Company issued a convertible debenture for the gross proceed of US$25,000 (C$31,265). The debenture matures on February 20, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$37,500 with 8% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 7 – Convertible Promissory Notes (continued)

On March 16, 2015, the Company issued a convertible debenture for the gross proceed of US$15,000 (C$19,157). The debenture matures on March 16, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$22,500 with 8% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001.

On May 28, 2015, the Company issued a convertible debenture for the gross proceed of US$25,000 (C$31,193). The debenture matures on May 28, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$25,000 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 15 days prior to the conversion. As of December 31, 2015, conversions totaling US$18,500 (C$24,085) have been recorded and 249,461,538 shares of the Company’s common stock have been issued as a result of the conversion.

On August 20, 2015, the Company issued a convertible debenture of US$25,000 (C$32,700) as a result of a partial transfer of the August 1, 2014 note to a new holder. The debenture matures on August 20, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$25,000 with 8% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. As of September 30, 2015, conversions totaling US$16,913 (C$22,464) have been recorded and 374,885,000 shares of the Company’s common stock have been issued as a result of the conversion.

On October 19, 2015, the Company issued a convertible debenture of US$250,000 (C$324,950) in lieu of payment for consulting services. The debenture matures on May 19, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$250,000 with 2% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at the eighty-seven point five percent of the lowest market price during the 40 days prior to the conversion.

On November 5, 2015, the Company issued a convertible debenture for the gross proceed of US$30,000 (C$39,501). The debenture matures on June 5, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$40,000 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 40 days prior to the conversion.

On December 3, 2015, the Company issued a convertible debenture of US$19,500 (C$26,118) as a result of a partial transfer of the August 1, 2014 note to a new holder. The debenture matures on June 3, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$19,500 with 5% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at thirty percent of the lowest market price during the 30 days prior to the conversion. As of December 31, 2015, conversions totaling US$4,221 (C$5,741) have been recorded and 100,000,000 shares of the Company’s common stock have been issued as a result of the conversion.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 7 – Convertible Promissory Notes (continued)

On December 3, 2015, the Company issued a convertible debenture of US$105,000 (C$141,309) as a result of a transfer of the August 1, 2014 note to a new holder. The debenture matures on July 3, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$105,000 with 5% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at fifty percent of the lowest market price during the 40 days prior to the conversion. As of December 31, 2015, conversions totaling US$7,500 (C$10,195) have been recorded and 150,000,000 shares of the Company’s common stock have been issued as a result of the conversion.

On December 30, 2015, the Company issued a convertible debenture for the gross proceed of US$5,000 (C$6,942). The debenture matures on June 30, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$7,500 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 40 days prior to the conversion.

On December 31, 2015, the Company issued a convertible debenture for the gross proceed of US$10,000 (C$13,840). The debenture matures on July 1, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$13,000 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 30 days prior to the conversion.

The above notes include certain embedded features related to the embedded conversion option being exercisable into a variable number of shares and the strike price being dominated in a currency other than the Company’s functional currency. These features qualify as derivatives and are bundled as a compound embedded derivative that is measured at fair value. The fair value of the derivatives as at December 31, 2015 was $1,120,067 (June 30, 2015 - $1,089,160). As the fair value of the embedded conversion features exceeded the principle value of the promissory notes, the entire amount of the debt has been classified as an embedded derivative on the consolidated balance sheet. To calculate the fair value of the embedded derivative the following assumptions were made using the Black-Scholes pricing model:

As at December 31, 2015, accrued interest recorded in accounts payable and accrued liabilities relating to the convertible promissory notes totaled $37,290 (June 30, 2015 - $31,174). As at December 31, 2015, accrued interest relating to the notes that were converted during the quarter totaled $15,878.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 8 - Capital Stock

During the quarter ended September 30, 2014, the Company issued 2,506,109 common stocks as a result of the conversion of US$45,065 of unsecured promissory notes dated May 2, 2012, November 2, 2012, and October 25, 2013. During the same quarter, the Company issued 1,686,364 common shares for $164,366 (US$154,000) previously accrued consulting fee payable to related parties. Of the share issued, 1,050,000 were issued at US$0.08 per common share and 636,364 were issued at US$0.11 per common share.

On December 8, 2014, the Company issued 6,150,000 common shares in lieu of payment for consulting fee of $70,553 (US$61,500) payable to related parties at US$0.01 per common share. At the time of issuance, the Company’s share was traded at US$0.03. As a result, an additional $141,106 (US$123,000) has been recorded as stock-based compensation.

On December 8, 2014, the Company issued 150,000 common shares in lieu of payment for investor relations and marketing services of US$5,162 (C$4,500) at US$0.03 per common share.

On December 10, 2014, the Company’s shareholders issue a written consent to approve, effective on December 10, 2014, the reverse split of the Company’s common stock on a ratio of 1 new share for each 100 old shares. Subsequent to the reverse split, the Company had 14,873,382 common shares outstanding on December 10, 2014.

During the quarter ended December 31, 2014, the Company issued 2,940,255 common stocks as a result of the conversion of US$45,065 of unsecured promissory notes dated October 25, 2013, February 6, 2014, and April 9, 2014.

On April 21, 2015, the Company issued 12,500,000 common shares in lieu of payment for consulting fee of US$50,000 (C$61,405) payable to related parties at US$0.004 (C$0.005) per common share.

During the quarter ended June 30, 2015, the Company issued 16,280,071 common stocks as a result of the conversion of US$20,685 (C$25,434) of unsecured promissory notes dated February 6, 2014, and April 9, 2014, August 1, 2014, and May 28, 2015.

On September 30, 2015, the Company issued 300,000,000 common shares in lieu of payment for consulting fee of US$60,000 (C$78,522) payable to related parties at US$0.0002 (C$0.0002) per common share.

During the quarter ended September 30, 2015, the Company issued 81,470,604 common stocks as a result of the conversion of US$15,652 (C$20,484) of unsecured promissory notes dated February 6, 2014, April 9, 2014, May 27, 2014, May 28, 2015, and August 20, 2015.

On October 20, 2015, the Company issued 150,000,000 common shares in lieu of payment for consulting fee of US$15,000 (C$19,830) payable to related parties at US$0.0001 (C$0.0001) per common share.

During the quarter ended December 31, 2015, the Company issued 1,330,834,667 common stocks as a result of the conversion of US$63,984 (C$84,586) of unsecured promissory notes dated April 9, 2014, August 1, 2014, May 28, 2015, August 20, 2015, and December 3, 2015.

As of December 31, 2015, there are no share options or warrants outstanding.

GOLDEN GLOBAL CORP.

(An Exploration Stage Company)

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2015

(Unaudited)

Stated in Canadian dollars

Note 9 – Shares to be Issued

For consideration of ongoing investor relations and marketing service the Company has agreed to issue shares in lieu for services. The Company has agreed that this vendor will remain the owners of at least 3% of the Company’s outstanding common shares as at June 5, 2015 and June 5, 2016. At December 31, 2015, the Company has recorded shares to be issued of US$5,151 (C$7,129), which represents 1,471,812 shares.