Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
¨ | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Delaware | 37-1532842 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
20807 Biscayne Blvd., | ||
Suite 203, Aventura, Florida | 33180 | |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | o | Accelerated filer | o |
Non-accelerated filer | o | Smaller reporting company | |
x |
Page | |||||||
PART I | FINANCIAL INFORMATION | ||||||
Item 1. | 4 | ||||||
Condensed Balance Sheets as of | 4 | ||||||
Condensed Statements of Operations for the Three | 5 | ||||||
Condensed Statements of Cash Flows for the Three | 6 | ||||||
Notes to the Condensed Financial Statements | 7 | ||||||
Item 2. | 9 | ||||||
Item 3. | 10 | ||||||
Item 4. | 10 | ||||||
PART II OTHER INFORMATION | |||||||
Item 1. | 11 | ||||||
Item 2. | 11 | ||||||
Item 3. | 11 | ||||||
Item 4. | 11 | ||||||
Item 5. | 11 | ||||||
Item 6. | 11 | ||||||
12 |
June 30, | December 31, | |||||||||||||||
2014 | 2013 | March 31, | December 31, | |||||||||||||
(Unaudited) | 2015 | 2014 | ||||||||||||||
(Unaudited) | ||||||||||||||||
ASSETS | ||||||||||||||||
Current assets | $ | - | $ | - | ||||||||||||
Cash and cash equivalents | $ | - | $ | - | $ | - | $ | - | ||||||||
TOTAL CURRENT ASSETS / TOTAL ASSETS | $ | - | $ | - | ||||||||||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||||||||||||||||
LIABILITIES | ||||||||||||||||
Current liabilities | ||||||||||||||||
Accounts payable | $ | 2,041 | $ | 1,459 | $ | 673 | $ | 183 | ||||||||
Accrued liabilities | 10,000 | 21,281 | 7,225 | 12,799 | ||||||||||||
Amount due to a related party | 80,873 | 54,493 | 111,874 | 101,763 | ||||||||||||
TOTAL CURRENT LIABILITIES / TOTAL LIABILITIES | 92,914 | 77,233 | 119,772 | 114,745 | ||||||||||||
STOCKHOLDERS’ DEFICIT | ||||||||||||||||
Preferred stock: par value of $0.001 per share Authorized: 10,000,000 shares at June 30, 2014 and December 31, 2013 Issued and outstanding: 0 shares at June 30, 2014 and December 31, 2013 | - | - | ||||||||||||||
Common stock: par value of $0.001 per share Authorized: 250,000,000 shares at June 30, 2014 and December 31, 2013 Issued and outstanding: 20,006,402 shares at June 30, 2014 and 31-Dec-13 | 20,006 | 20,006 | ||||||||||||||
Additional paid-in-capital | 609,614 | 609,614 | ||||||||||||||
Retained earnings deficit | (722,533 | ) | (706,853 | ) | ||||||||||||
TOTAL STOCKOLDERS’ DEFICIT | (92,914 | ) | (77,233 | ) | ||||||||||||
STOCKHOLDERS’ EQUITY | ||||||||||||||||
Preferred stock : par value of $0.001 per share, | ||||||||||||||||
Authorized: 10,000,000 shares at March 31, 2015 and December 31, 2014 | ||||||||||||||||
Issued and outstanding: 0 shares at March 31, 2015 and December 31, 2014 | - | - | ||||||||||||||
Common stock : par value $0.001 per share | ||||||||||||||||
Authorized: 250,000,000 shares at March 31, 2015 and December 31, 2014 | ||||||||||||||||
Issued and outstanding: 20,006,402 shares at March 31, 2015 and December 31, 2014 | 20,006 | 20,006 | ||||||||||||||
Additional paid-in capital | 609,614 | 609,614 | ||||||||||||||
Accumulated deficit | (749,392 | ) | (744,365 | ) | ||||||||||||
TOTAL STOCKHOLDERS’ DEFICIT | (119,772 | ) | (114,745 | ) | ||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ | - | $ | - | $ | 0 | $ | 0 |
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Administrative expenses | (5,563 | ) | (6,589 | ) | (15,680 | ) | (11,148 | ) | ||||||||
Other income | - | - | - | - | ||||||||||||
Loss before income taxes | (5,563 | ) | (6,589 | ) | (15,680 | ) | (11,148 | ) | ||||||||
Provision for income taxes | - | - | - | - | ||||||||||||
Net loss | $ | (5,563 | ) | $ | (6,589 | ) | $ | (15,680 | ) | $ | (11,148 | ) | ||||
Earnings per share | ||||||||||||||||
-Basic and Diluted | $ | * | $ | * | $ | * | $ | * | ||||||||
Weighted average number of shares outstanding: | ||||||||||||||||
- Basic and Diluted | 20,006,402 | 20,006,402 | 20,006,402 | 20,006,402 |
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
Administrative expenses | $ | (5,027 | ) | (10,117 | ) | |||
Loss before income taxes | (5,027 | ) | (10,117 | ) | ||||
Provision for income taxes | - | - | ||||||
Net loss | $ | (5,027 | ) | $ | (10,117 | ) | ||
Earnings per share | ||||||||
-Basic and Diluted | $ | * | $ | * | ||||
Weighted average number of shares outstanding: | ||||||||
- Basic and Diluted | 20,006,402 | 20,006,402 |
Six months ended June 30, | ||||||||
2014 | 2013 | |||||||
Cash flows from operating activities | ||||||||
Net loss | $ | (15,680 | ) | $ | (11,148 | ) | ||
Changes in operating assets and liabilities: | ||||||||
Accounts payable | 581 | |||||||
Accrued liabilities | (11,281 | ) | (12,500 | ) | ||||
Amount due to a related party | 26,380 | 23,648 | ||||||
Net cash flows used by operating activities | - | - | ||||||
Cash flows from investing activities | - | - | ||||||
Cash flows from financing activities | - | - | ||||||
Net decrease in cash and cash equivalents | - | - | ||||||
Cash and cash equivalents – beginning of period | - | - | ||||||
Cash and cash equivalents – end of period | $ | - | $ | - | ||||
Supplemental disclosures for cash flow information: | ||||||||
Cash paid for interest | $ | - | $ | - | ||||
Cash paid for income taxes | $ | - | $ | - |
Three months ended March 31, | ||||||||
2015 | 2014 | |||||||
Cash flows from operating activities | ||||||||
Net loss | $ | (5,027 | ) | $ | (10,117 | ) | ||
Changes in operating assets and liabilities : | ||||||||
Accounts payable | 490 | |||||||
Accrued liabilities | (5,574 | ) | 18 | |||||
Amount due to a related party | 10,111 | 10,099 | ||||||
Net cash flows used by operating activities | - | - | ||||||
Cash flows from investing activities | - | - | ||||||
Cash flows from financing activities | - | - | ||||||
Net decrease in cash and cash equivalents | - | - | ||||||
Cash and cash equivalents - beginning of period | - | - | ||||||
Cash and cash equivalents - end of period | $ | - | $ | - | ||||
Supplemental disclosures for cash flow information: | ||||||||
Cash paid for interest | $ | - | $ | - | ||||
Cash paid for income taxes | $ | - | $ | - |
Level 1 - | Quoted prices are available in active markets for identical investments as of the period reporting date. | |
Level 2 - | Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. |
Level 3 - | Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. |
31 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of theSarbanes-Oxley Act of 2002 | ||
GREEN PLANET BIOENGINEERING CO., LTD. | |||
Date: | By: | /s/ Jordan Weingarten | |
Jordan | |||
(Principal Executive Officer and Principal Financial Officer) | |||