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 | þ |
Page Number | |||||
PART I | FINANCIAL INFORMATION | ||||
Item 1. | Financial Statements | 4 | |||
Condensed Balance Sheets as of | 4 | ||||
Condensed Statements of Operations for the Three and Six Months Ended | 5 | ||||
Condensed Statements of Cash Flows for the | 6 | ||||
Notes to the Condensed Financial Statements | 7 | ||||
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 9 | |||
Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 10 | |||
Item 4. | Controls and Procedures | 10 | |||
PART II | OTHER INFORMATION | ||||
Item 1. | Legal Proceedings | 11 | |||
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 11 | |||
Item 3. | Defaults upon Senior Securities | 11 | |||
Item 4. | Reserved | 11 | |||
Item 5. | Other Information | 11 | |||
Item 6. | Exhibits | 11 | |||
SIGNATURES | 12 |
March 31, | December 31, | June 30, | December 31, | |||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
ASSETS | ||||||||||||||||
Current assets | ||||||||||||||||
Cash and cash equivalents | $ | - | $ | - | $ | - | $ | - | ||||||||
TOTAL CURRENT ASSETS / TOTAL ASSETS | $ | - | $ | - | $ | - | $ | - | ||||||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||||||||||||||||
LIABILITIES | ||||||||||||||||
Current liabilities | ||||||||||||||||
Accounts payable | $ | 673 | $ | 183 | $ | 31 | $ | 183 | ||||||||
Accrued liabilities | 7,225 | 12,799 | 5,725 | 12,799 | ||||||||||||
Amount due to a related party | 111,874 | 101,763 | 119,171 | 101,763 | ||||||||||||
TOTAL CURRENT LIABILITIES / TOTAL LIABILITIES | 119,772 | 114,745 | 124,927 | 114,745 | ||||||||||||
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 | ||||||||||||||
STOCKHOLDERS’ DEFICIT | ||||||||||||||||
Preferred stock: par value of $0.001 per share | ||||||||||||||||
Authorized: 10,000,000 shares at June 30, 2015 and December 31, 2014 Issued and outstanding: 0 shares at June 30, 2015 and December 31, 2014 | - | - | ||||||||||||||
Common stock: par value of $0.001 per share Authorized: 250,000,000 shares at June 30, 2015 and December 31, 2014 Issued and outstanding: 20,006,402 shares at June 30, 2015 and December 31, 2014 | 20,006 | 20,006 | ||||||||||||||
Additional paid-in-capital | 609,614 | 609,614 | ||||||||||||||
Accumulated deficit | (749,392 | ) | (744,365 | ) | (754,547 | ) | (744,365 | ) | ||||||||
TOTAL STOCKHOLDERS’ DEFICIT | (119,772 | ) | (114,745 | ) | ||||||||||||
TOTAL STOCKOLDERS’ DEFICIT | (124,927 | ) | (114,745 | ) | ||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ | 0 | $ | 0 | $ | - | $ | - |
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Administrative expenses | $ | (5,155 | ) | $ | (5,563 | ) | $ | (10,182 | ) | $ | (15,680 | ) | ||||
Loss before taxes | (5,155 | ) | (5,563 | ) | (10,182 | ) | (15,680 | ) | ||||||||
Provision for income taxes | - | - | - | - | ||||||||||||
Net loss | $ | (5,155 | ) | $ | (5,563 | ) | $ | (10,182 | ) | $ | (15,680 | ) | ||||
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 |
· | Less than $.01, per share |
Three months ended March 31, | Six months ended June 30, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Cash flows from operating activities | ||||||||||||||||
Net loss | $ | (5,027 | ) | $ | (10,117 | ) | $ | (10,182 | ) | $ | (15,680 | ) | ||||
Changes in operating assets and liabilities : | ||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||
Accounts payable | 490 | (152 | ) | 581 | ||||||||||||
Accrued liabilities | (5,574 | ) | 18 | (7,074 | ) | (11,281 | ) | |||||||||
Amount due to a related party | 10,111 | 10,099 | 17,408 | 26,380 | ||||||||||||
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 – beginning of period | - | - | ||||||||||||||
Cash and cash equivalents - end 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. |
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 18 U.S.C. Section 1350 |
GREEN PLANET BIOENGINEERING CO., LTD. | |||
Date: | By: | /s/ Jordan Weingarten | |
Jordan | |||
(Principal Executive Officer and Principal Financial Officer) |