Businessweek

On 03/29/2013, Global Energy, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Global Energy, Inc. entered into agreements with Covanta Energy Corporation and Rafael Advanced Defense Systems Ltd. for the purpose of developing a mobile unit of the KDV 150 system. All of these agreements described became material on August 20, 2012 upon signature by the Israel-U.S. Binational Industrial Research Foundation of the proposal for a 24 month research and development program submitted by the parties. In February 2012, Global entered into a Teaming Agreement with Covanta and RAFAEL, pursuant to which the parties agreed to submit a proposal to BIRDF for the purpose of obtaining a grant to develop a mobile reactor for biomass fuel which is to be based on the KDV 150 technology for converting waste into diesel fuel. The Teaming Agreement describes the participation of each of the parties in the R&D efforts, where RAFAEL is the lead developer under the BIRDF program. The program will have a projected total cost of $3 million. Global undertakes to participate in the program with a contribution of $300,000 and to be responsible for making payment to BIRDF of any royalties relating to the sales recorded by Covanta with respect to the KDV Mobile Unit. The parties agreed on marketing rights which will be governed by each party's territory rights as defined in the Teaming Agreement. Each party will have the right to manufacture the KDV Mobile Unit for sale in its territory subject to manufacturing rights as granted from time to time.

On July 27, 2012, Global Energy, Inc. announced Nissan Caspi resigned from the board of directors effective as of July 18, 2012, on July 27, 2012, Amir Elbaz resigned from the board of directors effective as of July 27, 2012, and on July 29, 2012, Avner Raanan resigned from the board of directors effective as of July 30, 2012. There were no disagreements with the company's policies or practices in connection with the resignations.

Global Energy, Inc.’s common stock has been deleted from OTC Bulletin Board (OTCBB) effective July 23, 2012 on account of its ineligibility for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.