Global Mobile Tech (OTC BB:GLMB)

We need to expend approximately $15 million over the next year in costs related to the implementation of a 200 tons/day biofuel (syngas, bio-oil and biochar) production plant integrated with a 10MW syngas-to-electricity generation plant. Production of the biofuels; and generation of electricity is expected to commence during the third quarter of fiscal year 2012. We believe that our plant will be the first of its kind in South East Asia in the conversion of oil palm stems and fronds into electricity. The biofuel production and power generation plant will lay the foundation for expansion beyond 2012 by showcasing our capabilities; and attracting potential investors and joint venture partners into establishing further plants in Malaysia, Indonesia and Thailand. These three countries have an abundant supply of biomass feedstock and governments providing investment incentives to implement renewable energy projects.

We intend to finance our expansion into the biomass-to-energy business through a combination of internally generated funds, private placement of our common stock and securing a loan under the Malaysian Green Technology Financing Scheme or GTFS. Under the GTFS scheme, the government of Malaysia will bear 2% of the total interest. In addition, the Government will provide a guarantee of 60% on the financing amount via Credit Guarantee Corporation Malaysia Berhad (CGC), with the remaining 40% financing risk to be borne by participating financial institutions/banks.

We intend to finance our expansion through a combination of:

1)  internally generated funds

$  1,500,000

2)  private placement of our common stock

    4,500,000

3)  securing a loan under the Green Technology Financing

Scheme (“GTFS”) promoted by the government of Malaysia

    9,000,000

----------------

$15,000,000

==========