GreenShift (GERS) 10-Q/A 24 Nov 15 2015 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Sep. 17, 2015
Document and Entity Information:
Entity Registrant Name	GREENSHIFT CORP
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Trading Symbol	gers
Amendment Flag	true
Amendment Description	1
Entity Central Index Key	1,269,127
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		30,370,547
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash	$ 158,934	$ 587,021
Accounts receivable, net of doubtful accounts	490,683	647,257
Inventories, net	691,896	691,896
Due from affiliate	46,708
Prepaid expenses and other assets	83,471	64,678
Total current assets	1,471,691	1,990,852
Other Assets:
Intangible assets, net	19,578	21,179
Minority investment in subsidiary	3,842,204
Deposits	69,730	69,730
Total other assets	3,931,512	90,909
TOTAL ASSETS	5,403,203	2,081,761
Current Liabilities:
Accounts payable	8,532,025	7,194,854
Accrued expenses	7,165,437	6,610,696
Accrued expenses - deferred employee compensation	510,243	518,043
Income tax payable	4,543	4,543
Accrued interest payable	7,182,654	6,734,434
Accrued interest payable - related party	302,290	273,317
Deferred revenue	44,550
Billings in excess	13,887	32,365
Notes payable	1,367,045	1,367,045
Current portion of convertible debentures, net	14,639,027	15,062,191
Convertible debentures - related party	2,311,179	2,581,185
Amounts due to minority shareholders	545,842	545,842
Total current liabilities	42,618,722	40,924,515
Long term Liabilities:
Liability for preferred stock - related party	740,854	698,048
Convertible debentures	429,041	175,000
Total long term liabilities	1,169,895	873,048
Total Liabilities	$ 43,788,617	$ 41,797,563
Commitments and Contingencies
Convertible preferred stock, $0.001 par value, 5,000,000 shares authorized:
Common stock: $0.0001 par value, 2,500,000,000 authorized 18,847,034 and 12,270,833 shares issued and outstanding, respectively	$ 1,885	$ 1,227
Additional paid in capital	126,114,118	121,439,746
Accumulated deficit	(164,504,760)	(161,160,111)
Total stockholders' equity (deficit)	(38,385,414)	(39,715,802)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	5,403,203	2,081,761
Class B Preferred Stock
Convertible preferred stock, $0.001 par value, 5,000,000 shares authorized:
Preferred Stock	2,481	2,481
Class D Preferred Stock
Convertible preferred stock, $0.001 par value, 5,000,000 shares authorized:
Preferred Stock	$ 862	$ 855

CONSOLIDATED BALANCE SHEETS PAR

CONSOLIDATED BALANCE SHEETS PARENTHETICAL - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	2,500,000,000	2,500,000,000
Common stock shares issued	18,847,034	12,270,833
Common stock shares outstanding	18,847,034	12,270,833
Class B Preferred Stock
Convertible preferred stock par value	$ 0.001	$ 0.001
Convertible preferred stock shares authorized	5,000,000	5,000,000
Convertible preferred stock shares issued	2,480,544	2,480,544
Convertible preferred stock shares outstanding	2,480,544	2,480,544
Class D Preferred Stock
Convertible preferred stock par value	$ 0.001	$ 0.001
Convertible preferred stock shares authorized	5,000,000	5,000,000
Convertible preferred stock shares issued	862,262	855,101
Convertible preferred stock shares outstanding	862,262	855,101

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 1,149,559	$ 4,109,835	$ 2,062,363	$ 7,838,879
Costs of goods sold	439,064	1,589,259	716,727	3,210,196
Gross profit	710,495	2,520,576	1,345,636	4,628,683
Operating expenses:
Research and development	(51,783)	233,682	268,807	420,396
Sales, general and administrative expenses	1,965,682	2,045,033	3,148,723	3,573,494
Total operating expenses	1,913,899	2,278,715	3,417,530	3,993,890
Income (loss) from operations	(1,203,404)	241,861	(2,071,894)	634,793
Other Income (Expense):
Gain on extinguishment of debt	6,350	2,814,952	21,598	2,814,952
Other expense	(560,000)		(560,000)
Miscellaneous income		3,981		4,055
Equity loss from investee	(161,471)		(161,471)
Change in conversion liabilities	(8,691)	72,682	2,419	156,015
Change in conversion liabilities - related party	(29,972)	39,160	(42,806)	23,660
Interest expense	(232,855)	(298,333)	(455,787)	(647,944)
Interest expense - related party	(36,236)	(39,479)	(76,708)	(79,996)
Total other income (expense), net	(1,022,875)	2,592,963	(1,272,755)	2,370,742
Income (loss) before provision for income taxes	(2,226,279)	2,834,824	(3,344,649)	2,905,535
(Provision for)/benefit from income taxes		(30)		$ (30)
Net income (loss)	$ (2,226,279)	$ 2,834,794	$ (3,344,649)
Weighted average common shares outstanding, basic	15,552,350	475,175	17,507,302	234,061
Weighted average common shares outstanding, diluted	15,552,350	18,323,595	17,507,302	18,323,595
Earnings (Loss) per Share:
Net income (loss) per share - basic	$ (0.14)	$ 5.97	$ (0.19)	$ 12.41
Net income (loss) per share - diluted	$ (0.14)	$ 0.15	$ (0.19)	$ 0.16

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (3,344,649)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of intangibles	1,601	$ 1,601
Gain on extinguishment of debt	(21,598)	(2,814,952)
Change in conversion liabilities	40,387	(179,675)
Equity losses from investee	161,471
Expenses incurred by issuance of debentures	5,244
Changes in operating assets and liabilities:
Change in accounts receivable	156,574	(183,778)
Change in prepaid expenses	(18,793)	(1,378)
Change in inventory		460,000
Change in due from affiliate	(46,708)
Change in deferred revenue	44,550	(7,586)
Change in accrued interest	450,543	647,944
Change in accrued interest - related party	42,708	79,996
Change in billings in excess	(18,478)
Change in accounts payable and accrued expenses	2,347,928	443,802
Net cash provided by operating activities	(199,218)	1,351,479
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of convertible debentures	(228,869)	(2,802,500)
Repayment of convertible debentures - related party bridge		(60,000)
Net cash provided by (used in) financing activities	(228,869)	(2,862,500)
Net increase (decrease) in cash	(428,087)	(1,511,021)
Cash at beginning of period	587,021	3,896,312
Cash at end of period	$ 158,934	$ 2,385,291

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Notes
Note 1 - Basis of Presentation	NOTE 1 BASIS OF PRESENTATION REFERENCES TO THE COMPANY In this Quarterly Report on Form 10-Q, the terms “ we our us GreenShift Company GreenShift Corporation The balance sheet at December 31, 2014 was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The other information in these condensed financial statements is unaudited but, in the opinion of management, reflects all adjustments necessary for a fair presentation of the results for the periods covered. All such adjustments are of a normal recurring nature unless disclosed otherwise. These financial statements, including notes, have been prepared in accordance with the applicable rules of the Securities and Exchange Commission and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should be read in conjunction with the financial statements and additional information as contained in our Annual Report on Form 10-K for the year ended December 31, 2014. CONSOLIDATED FINANCIAL STATEMENTS The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities which we control. All significant intercompany balances and transactions have been eliminated on a consolidated basis for reporting purposes. USE OF ESTIMATES IN THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 2 - Description of Busines

Note 2 - Description of Business	6 Months Ended
	Jun. 30, 2015
Notes
Note 2 - Description of Business	NOTE 2 DESCRIPTION OF BUSINESS We develop and commercialize clean technologies that facilitate the more efficient use of natural resources. We are focused on doing so today in the U.S. ethanol industry, where we innovate and offer technologies that improve the profitability of licensed ethanol producers. We generate revenue by licensing our technologies to ethanol producers in exchange for ongoing royalty and other license fees. During the six months ended June 30, 2015, four customers each provided over 10% of our revenue, including one customer that accounted for more than 50% of sales (See Note 4 Significant Accounting Policies

Note 3 - Going Concern

Note 3 - Going Concern	6 Months Ended
	Jun. 30, 2015
Notes
Note 3 - Going Concern	NOTE 3 GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of June 30, 2015, the Company had $158,934 in cash, and current liabilities exceeded current assets by $41,147,032. As of December 31, 2014, debentures in the aggregate principal amount of $13,344,990 matured, and these are now in default, as the Company negotiates a modification and extension with the creditors. In addition, in October 2014 the District Court in Indiana issued a partial summary judgment that our corn oil extraction patents are invalid; if we are unable to successfully appeal that ruling or otherwise settle the infringement matter, it would have a significant negative impact on our future cash flows. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Our ability to satisfy our obligations will depend on our success in obtaining financing, our success in preserving current revenue sources and developing new revenue sources, and our success in negotiating with the creditors. Management plans to resolve the Company’s working capital deficit by increasing revenue, reducing debt and exploring new financing options. There can be no assurances that the Company will be able to eliminate its working capital deficit and that the Company’s historical operating losses will not recur. The accompanying financial statements do not contain any adjustments which may be required as a result of this uncertainty.

Note 4 - Significant Accounting

Note 4 - Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Notes
Note 4 - Significant Accounting Policies	NOTE 4 SIGNIFICANT ACCOUNTING POLICIES SEGMENT INFORMATION We determined our reporting units in accordance with FASB ASC 280, “ Segment Reporting REVENUE RECOGNITION The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collection is reasonably assured. The Company recognizes revenue from licensing of the Company’s corn oil extraction technologies when corn oil sales occur. Licensing royalties are recognized as earned by calculating the royalty as a percentage of gross corn oil sales by the ethanol plants. For the purposes of assessing royalties, the sale of corn oil is deemed to occur when shipped, which is when four basic criteria have been met: (i) persuasive evidence of a customer arrangement; (ii) the price is fixed or determinable; (iii) collectability is reasonably assured, and (iv) product delivery has occurred, which is generally upon shipment to the buyer of the corn oil. Deposits from customers are not recognized as revenues, but as liabilities, until the following conditions are met: revenues are realized when cash or claims to cash (receivable) are received in exchange for goods or services, or when assets received in such exchange are readily convertible to cash or claim to cash, or when such goods or services are transferred. When an income item is earned, the related revenue item is recognized and any deferred revenue is reduced. To the extent revenues are generated from the Company’s licensing support services, the Company recognizes such revenues when the services are completed and billed. The Company provides process engineering services on fixed price contracts. These services are generally provided over a short period of less than three months. Revenue from fixed price contracts is recognized on a pro rata basis over the life of the contract as they are generally performed evenly over the contract period. The Company additionally performs under fixed-price contracts involving design, engineering, procurement, installation, and start-up of oil recovery and other production systems. Revenues and fees on these contracts are recognized using the percentage-of-completion method of accounting, and specifically the efforts-expended percentage-of-completion method using measures such as task duration and completion. The efforts-expended approach is used in situations where it is more representative of progress on a contract than the cost-to-cost or the labor-hours methods. The asset, “costs and estimated earnings in excess of billings on uncompleted contracts,” represents revenues recognized in excess of amounts billed. The liability, “billings in excess of costs and estimated earnings on uncompleted contracts,” represents billings in excess of revenues recognized. BASIC AND DILUTED INCOME (LOSS) PER SHARE The Company computes its net income or loss per common share under the provisions of ASC 260, “ Earnings per Share FINANCIAL INSTRUMENTS The carrying values of accounts receivable, other receivables, accounts payable and accrued expenses approximate their fair values due to their short term maturities. The carrying values of the Company’s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company. It was not practical to estimate the fair value of the convertible debt. In order to do so, it would be necessary to obtain an independent valuation of these unique instruments. The cost of that valuation would not be justified in light of the materiality of the instruments to the Company. EQUITY INVESTMENTS Equity investments in which the Company exercises significant influence but does not control and is not the primary beneficiary are accounted for using the equity method. The Company’s share of its equity method investee’s earnings or losses is included in other income in the accompanying Consolidated Statements of Operations. RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This update provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about [the] entity’s ability to continue as a going concern.” The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company is currently evaluating the possible impact of ASU 2014-15, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers which modifies how all entities recognize revenue and various other revenue accounting standards for specialized transactions and industries. This update is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14, which deferred the effective date of the ASU to fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently evaluating the possible impact of ASU 2014-15, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, or ASU No. 2015-02. The amendments of ASU No. 2015-02 were issued in an effort to minimize situations under previously existing guidance in which a reporting entity was required to consolidate another legal entity in which that reporting entity did not have: (1) the ability through contractual rights to act primarily on its own behalf; (2) ownership of the majority of the legal entity's voting rights; or (3) the exposure to a majority of the legal entity's economic benefits. ASU No. 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The guidance in ASU No. 2015-02 is effective for periods beginning after December 15, 2015. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2014-15, but does not anticipate that it will have a material impact on the Company's consolidated financial statements.

Note 5 - Fair Value Disclosures

Note 5 - Fair Value Disclosures	6 Months Ended
	Jun. 30, 2015
Notes
Note 5 - Fair Value Disclosures	NOTE 5 FAIR VALUE DISCLOSURES Effective July 1 2009, the Company adopted ASC 820, Fair Value Measurements and Disclosures Distinguishing Liabilities from Equity Effective July 1 2009, the Company adopted ASC 820-10-55-23A, Scope Application to Certain Non-Financial Assets and Certain Non-Financial Liabilities ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows: Level 1 quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active exchange-traded securities and exchange-based derivatives Level 2 inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange-based derivatives, mutual funds, and fair-value hedges Level 3 unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded, non-exchange-based derivatives and commingled investment funds, and are measured using present value pricing models For 2014, the fair value of the embedded conversion liabilities was determined using the present value model calculating fair value based on the conversion discount as well as the present value based on term and bond rate. During the six months ended June 30, 2014 the following assumptions were used: (1) conversion discounts of 10% to 50%; (2) term of less than one year to 8 years and (3) bond rate of 10%. For 2015, the fair value of the embedded conversion liabilities was determined using the present value model calculating fair value based on the conversion discount as well as the present value based on term and bond rate. During the six months ended June 30, 2015 the following assumptions were used: (1) conversion discounts of 10%; (2) term of less than one year to 7 years and (3) bond rate of 10%. Fluctuations in the conversion discount percentage have the greatest effect on the value of the conversion liabilities valuations during each reporting period. As the conversion discount percentage increases for each of the related conversion liabilities instruments, the change in the value of the conversion liabilities increases, therefore increasing the liabilities on the Company's balance sheet. The higher the conversion discount percentage, the higher the liability. A 10% change in the conversion discount percentage would result in more than a $1,511,531 change in our Level 3 fair value. The following table presents the embedded derivative, the Company’s only financial assets measured and recorded at fair value on the Company’s Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy during the six months ended June 30, 2015: Embedded conversion liabilities as of June 30, 2015: Level 1 $ -- Level 2 -- Level 3 1,522,493 Total $ 1,522,493 The following table reconciles, for the period ended June 30, 2015, the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements: Balance of embedded derivatives at December 31, 2014 $ 1,603,496 Present value of beneficial conversion features of new debentures 151,100 Accretion adjustments to fair value – beneficial conversion features 27,737 Reductions in fair value due to repayments/redemptions (138,480) ) Reduction upon extinguishment related to conversion feature-related party (100,000) Reductions in fair value due to principal conversions (21,390) Balance at June 30, 2015 $ 1,522,493 The fair value of the conversion features are calculated at the time of issuance and the Company records a conversion liability for the calculated value. The Company recognizes the initial expense for the conversion liability which is added to the carrying value of the debenture or the liability for preferred stock. The Company also recognizes expense for accretion of the conversion liability to fair value over the term of the note. The Company has adopted ASC 480, Distinguishing Liabilities from Equity

Note 6 - Inventories

Note 6 - Inventories	6 Months Ended
	Jun. 30, 2015
Notes
Note 6 - Inventories	NOTE 6 INVENTORIES The Company maintains an inventory of equipment and components used in systems designed to extract corn oil from licensed ethanol production facilities. The inventory, which consists of equipment and component parts, is held for sale to the Company’s licensees on an as needed basis. Inventories are stated at the lower of cost or market, with cost being determined by the specific identification method. Inventories at June 30, 2015 and December 31, 2014 were $691,896.

Note 7 - Debt Obligations

Note 7 - Debt Obligations	6 Months Ended
	Jun. 30, 2015
Notes
Note 7 - Debt Obligations	NOTE 7 DEBT OBLIGATIONS The following is a summary of the Company’s financing arrangements as of June 30, 2015: 6/30/2015 Current portion of long term debt: Mortgages and other term notes $ 21,743 Current portion of notes payable 1,345,302 Total current portion of long term debt $ 1,367,045 Current portion of convertible debentures YA Global Investments, L.P., 6% interest, conversion at 90% of market $ 10,855,919 Better Half Bloodstock, Inc., 0% interest, conversion at 90% of market 50,000 Circle Strategic Allocation Fund, LP, 6% interest, conversion at 90% of market 40,413 Dakota Capital Pty Limited, 6% interest, conversion at 90% of market 714,870 EFG Bank, 6% interest, conversion at 90% of market 117,948 Empire Equity, 6% interest, conversion at 90% of market 113,768 Epelbaum Revocable Trust, 6% interest, conversion at 90% of market 91,252 Highland Capital, 6% interest, conversion at 90% of market 5,600 JMC Holdings, LP, 6% interest, conversion at 90% of market 140,380 Dr. Michael Kesselbrenner, 6% interest, conversions at 90% of market 11,484 David Moran & Siobhan Hughes, 6% interest, conversion at 90% of market 2,399 Morano, LLC, 6% interest, no conversion discount 33,320 Mountainville LTD., 6% interest, conversion at 90% of market 1,190,446 Susan Schneider, 6% interest, conversions at 90% of market 10,510 Minority Interest Fund (II), LLC, 6% interest, no conversion discount 2,229,762 Related Party Debenture, 6% interest, no conversion discount 81,417 Conversion liabilities 1,260,718 Total convertible debentures $ 16,950,206 Long term convertible debentures Gerova Asset Backed Holdings, LP, 2% interest, no conversion discount 175,000 Long Side Ventures, 6% interest, conversion at 90% of market 254,041 Total long term convertible debentures $ 429,041 A total of $16,100,063 in principal from the convertible debt noted above is convertible into the common stock of the Company. The following chart is presented to assist the reader in analyzing the Company’s ability to fulfill its fixed debt service requirements (net of note discounts) as of June 30, 2015 and the Company’s ability to meet such obligations: Year Amount 2015 $ 17,056,534 2016 -- 2017 -- 2018 410,574 2019 -- Thereafter -- Total minimum payments due under current and long term obligations $ 17,467,108 YA GLOBAL INVESTMENTS, L.P. In 2012 the Company and its subsidiaries entered into a series of agreements with YA Global Investments, L.P. (“YA Global”) pursuant to which existing obligations from the Company to YA Global were replaced by an amended and restated convertible debenture in the amount of $33,308,023 (the “A&R Debenture”). The A&R Debenture bears interest at the rate of 6% per annum and provides the holder with the right, but not the obligation, to convert any portion of the A&R Debenture into the Company’s common stock at a rate equal to the lesser of (a) $1.00 or (b) 90% of the lowest daily volume weighted average price of the Company’s common stock during the 20 consecutive trading days immediately preceding the conversion date. A holder of the A&R Debenture will not be permitted, however, to convert into a number of shares that would cause it to own more than 4.99% of the Company’s outstanding common shares. The A&R Debenture is additionally subject to ongoing compliance conditions, including the absence of change of control events and timely issuance of common shares upon conversion. On November 12, 2013, the Company and YA Global Investments, L.P., entered into an amended forbearance agreement pursuant in which the maturity date of the Company's outstanding debt to YA Global and its assignees was extended to December 31, 2014. The amendment further provided for a mandatory prepayment of $500,000 on or before December 15, 2013, cash payments by the Company of $250,000 per month for the first six months of 2014, $261,000 per month for the second six months of 2014 and the reimbursement of certain legal costs and expenses. The Company will also be required to pay an amount equal to twenty percent (20%) of all gross proceeds received from any defendant in any patent infringement litigation, whether now existing or hereafter arising, within one (1) Business Day of receipt. The debt due to YA Global matured on December 31, 2014. Management expects to enter into agreements with YA Global to restructure and extend the maturity of that debt during 2015. On December 22, 2014 GreenShift Corporation, its subsidiaries and affiliates, Viridis Capital, LLC and YA Global Investments, L.P. (“YA Global”) entered into a Sixth Amendment to Second Global Forbearance Agreement (the “Amendment”). The Amendment recites that on or about December 12, 2014 YA Global became aware of certain events that are cause for termination of the Forbearance Agreement and enforcement of YA Global's rights in the event of default under the Debenture. Subsequently, Viridis Capital, LLC, the controlling shareholder of GreenShift, took certain actions as a result of the discovery of the termination events, including removal of certain officers and directors of GreenShift. The Amendment states that, in order to facilitate ongoing negotiations between GreenShift and YA Global, YA Global, for itself and its assignees, has agreed to forbear from enforcing its rights and remedies as a result of the termination events until January 31, 2015, unless another termination event occurs. Since that time the parties have been carrying on negotiations aimed at restructuring the loan and extending the maturity date. Management believes that the restructuring and extension will be accomplished in 2015. The Company accounted for the A&R Debenture in accordance with ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in the A&R Debenture could result in the note principal being converted to a variable number of the Company’s common shares. During the year ended December 31, 2014, the Company paid $4,529,500 in cash towards the principal balance of the A&R Debenture. During the year ended December 31, 2014, YA Global assigned $1,300,000 of its principal due on the A&R Debenture to four of its equity-holders, which assignment reduced the principal balance due to YA The Company also purchased $686,041 in accrued interest from one of its assignees. The Company had determined the fair value of the A&R Debenture at December 31, 2014 to be $19,675,780 which represented the face value of the debenture plus the present value of the conversion feature. During the six months ended June 30, 2015, the Company recognized a decrease in the conversion liability relating to the A&R Debenture of $143,048 for assignments and/or repayments during the period and $1,805 from conversions of debt into common stock. The carrying value of the A&R Debenture was $11,840,115 at June 30, 2015, including principal of $10,855,919 and the value of the conversion liability. The liability for the conversion feature of $984,196 at June 30, 2015 is equal to its estimated settlement value. Interest expense of $352,231 for the A&R Debenture was accrued for the six months ended June 30, 2015. YA CORN OIL In addition to the balance of the A&R Debenture is a promissory note that the Company made in 2012 as a result of certain indemnification obligations that arose from the Company’s transactions with YA Global’s affiliate, YA Corn Oil. The note amount is $1,295,302, accrues interest at 6% and matured on December 31, 2013. YA Corn Oil extended the due date to January 31, 2015. Management expects to enter into agreements with YA Corn Oil to restructure and extend the maturity of that debt in 2015. ASSIGNEES OF YA GLOBAL INVESTMENTS, L.P. From time to time since 2011, YA Global has subdivided the A&R Debenture (or its predecessor obligation) and assigned portions to individuals and entities that are equity-holders in YA Global. As of March 31, 2015, twelve assignees of YA Global held debentures with an aggregate balance of $1,323,995 (the “Assignee Debentures”). The terms of the Assignee Debentures are substantially identical. The Assignee Debentures bear interest at 6% per annum, except that debentures in the principal amount of $50,000 that were issued in exchange for assigned accrued interest do not bear interest. The holder of an Assignee Debenture has the right, but not the obligation, to convert any portion of the Assignee Debenture into the Company’s common stock at a rate equal to the lesser of (a) $1.00 or (b) 90% of the lowest daily volume weighted average price of the Company’s common stock during the 20 consecutive trading days immediately preceding the conversion date. The Assignee Debentures matured on December 31, 2014. The ongoing negotiations regarding a restructuring and extension of the A&R Debenture discussed above contemplate that identical modifications would be made to the Assignee Debentures. The Company accounted for the Assignee Debentures in accordance with ASC 480, Distinguishing Liabilities from Equity, as the conversion feature embedded in each Assignee Debentures could result in the note principal being converted to a variable number of the Company’s common shares. The Company determined the aggregate value of the Assignee Debentures at December 31, 2013 to be $5,149,206 which represented the aggregate face value of the debentures of $4,634,512 plus the present value of the conversion feature. During the six months ended June 30, 2015, YA Global assigned $1,200,000 to an additional assignee, which resulted in $151,100 in new liabilities. During the six months ended June 30, 2015, the Company made payments against the Assignee Debentures which resulted in a $1,799 reduction of the fair value of the conversion liability for the period, $1,516 in accretion as well as a reduction of $15,528 due to conversions during the period. The carrying value of the Assignee Debentures was $2,765,593 at June 30, 2015, including principal of $2,489,071 and the value of the conversion liability. The present value of the liability for the conversion feature has reached its estimated settlement value of $276,522 as of June 30, 2015. Interest expense of $50,128 for these obligations was accrued for the six months ended June 30, 2015. RELATED PARTY OBLIGATIONS As of December 31, 2010, the Company had convertible debentures payable to Minority Interest Fund (II), LLC (“MIF”) in an aggregate principal amount of $3,988,326 (the “MIF Debenture”) and convertible debentures payable to Viridis Capital, LLC in an aggregate principal amount of $518,308 (the “Viridis 2010 Debenture”). As discussed more fully in Note 17, Related Party Transactions As of April 1, 2013, the Company issued a $250,000 debenture to Viridis Capital, LLC (“Viridis” and the “Viridis Debenture”) in exchange for full satisfaction of expenses and costs that were incurred by Viridis in connection with its guaranty of the Company’s obligations (see Note 11 , Related Party Transactions OTHER DEBENTURES During the year ended December 31, 2012, the Company incurred $175,000 in convertible debt to Gerova Asset Back Holdings, LP (“Gerova” and the “Gerova Debenture”). Gerova shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company’s common stock at a rate equal to 100% of the closing market price for the Company’s common stock for the day preceding the conversion date. Gerova delivered a release in favor of the Company in respect of any and all amounts that may have been due under the Company’s former guaranty agreement with Gerova. The debenture matures on December 31, 2018. The balance of the Gerova Debenture was $175,000 at June 30, 2015. Interest expense of $1,736 for these obligations was accrued for the six months ended June 30, 2015. During the year ended December 31, 2014, Minority Interest Fund (II), LLC assigned $200,000 of its convertible debt to Nicholas J. Morano, LLC (“Morano” and the “Morano Debenture”). Morano shall have the right, but not the obligation, to convert any portion of the accrued interest into the Company’s common stock at 100% of the market price for the Company’s common stock at the time of conversion. The balance of the Morano Debenture was $33,320 at June 30, 2015. Interest expense of $991 for these obligations was accrued for the six months ended June 30, 2015. The Company issued a debenture in the amount of $250,000 to Long Side Ventures (“LSV”) under the terms of the settlement agreement pursuant to which the plaintiff is to receive $150,000 in cash and a debenture in the amount issued during the six months ended June 30, 2015. LSV shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company’s common stock at a rate equal to 90% of the lowest closing bid price for the Company’s common stock for twenty days preceding the conversion date. The debenture matures on December 31, 2018. During the six months ended June 30, 2015, the Company recorded $554 in accretion as well as a reduction of $1,370 due to conversions during the period. The carrying value of the Assignee Debentures was $254,041 at June 30, 2015, including principal of $235,574 and the value of the conversion liability. The present value of the liability for the conversion feature was $18,467 as of June 30, 2015. Interest expense of $7,042 for these obligations was accrued for the six months ended June 30, 2015.

Note 8 - Guaranty Agreement

Note 8 - Guaranty Agreement	6 Months Ended
	Jun. 30, 2015
Notes
Note 8 - Guaranty Agreement	NOTE 8 GUARANTY AGREEMENT Viridis Capital, LLC (“Viridis”) is the majority shareholder of the Company and is solely owned by Kevin Kreisler, the Company’s founder and chairman. Viridis has guaranteed all of the Company’s senior debt and has pledged all of its assets, including its shares of Company Series D Preferred Stock, to YA Global to secure the repayment by the Company of its obligations to YA Global (see Note 9, Stockholders’ Equity Related Party Transactions

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Notes
Note 9 - Stockholders' Equity	NOTE 9 STOCKHOLDERS’ EQUITY SERIES B PREFERRED STOCK Each share of Series B Preferred Stock may be converted by the holder into 0.025 shares of common stock. Upon the declaration of dividends on common stock, the holders would be entitled to cumulative dividend rights equal to that of the holders of the number of shares into which the Series B Preferred Shares are convertible, and have voting privileges of one vote to every one common share. At June 30, 2015 and December 31, 2014, there were 2,480,544 shares of Series B Preferred Stock issued and outstanding. SERIES D PREFERRED STOCK Shares of the Series D Preferred Stock (the “Series D Shares”) may be converted by the holder into Company common stock. The conversion ratio is such that the full 1,000,000 Series D Shares originally issued convert into Company common shares representing 80% of the fully diluted outstanding common shares outstanding after the conversion (which includes all common shares outstanding plus all common shares potentially issuable upon the conversion of all derivative securities not held by the holder). The holder of Series D Shares may cast the number of votes at a shareholders meeting or by written consent that equals the number of common shares into which the Series D Shares are convertible on the record date for the shareholder action. In the event the Board of Directors declares a dividend payable to Company common shareholders, the holders of Series D Shares will receive the dividend that would be payable if the Series D Shares were converted into Company common shares prior to the dividend. In the event of a liquidation of the Company, the holders of Series D Shares will receive a preferential distribution of $0.001 per share, and will share in the distribution as if the Series D Shares had been converted into common shares. The Company has issued 800,000 Series D Shares to Viridis Capital, LLC, and 62,500 Series D Shares to Minority Interest Fund (II), LLC. However, Viridis and the Company are subject to an additional agreements which, if performed, provide for additional (but currently unissued) shares of the Company’s Series D Preferred Stock to be beneficially owned by Acutus Capital, LLC (124,875 shares) and Minority Interest Fund (II), LLC (41,034 additional shares). During the year ended December 31, 2014, 7,161 shares of Series D Preferred Stock were converted into 1 billion shares of Company common stock by Viridis Capital, LLC, the majority shareholder of the Company. During the six months ended June 30, 2015, the aforementioned 7,161 shares were surrendered and cancelled. The sole member of Viridis, Kevin Kreisler, is the Company’s chairman. At June 30, 2015 and December 31, 2014, there were 862,262 and 855,101 shares, respectively, of Series D Preferred Stock issued and outstanding. ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging SERIES F PREFERRED STOCK Effective January 1, 2010, GS CleanTech Corporation, a wholly-owned subsidiary of the Company, executed an Amended and Restated Technology Acquisition Agreement (“TAA”) with Cantrell Winsness Technologies, LLC (“CWT”), David F. Cantrell, David Winsness, Gregory P. Barlage and John W. Davis (the “Sellers”) pursuant to which the parties amended and restated the method of calculating the purchase price for the Company’s corn oil extraction technology (the “Technology”). The TAA provides for the payment by the Company of royalties in connection with the Company’s corn oil extraction technologies, the reduction of those royalties as the Sellers receive payment, and a mechanism for conversion of accrued or prepaid royalties into Company common stock. To achieve this latter mechanism, the Company agreed to issue to the Sellers a one-time prepayment in the form of 1,000,000 shares of redeemable Series F Preferred Stock with a face value of $10 per preferred share. The Series F preferred shares are redeemable at face value and a rate equal to the amount royalties paid or prepaid under the TAA. In addition, the Sellers have the right to convert the Series F preferred shares to pay or prepay royalties at a rate equal to the cash proceeds received by the Sellers upon sale of the common shares issued upon conversion Series F preferred shares. The TAA provides for the payment to the Sellers of an initial royalty fee equal to the lesser of $0.10 per gallon or a percentage of net cash flows, both of which are reduced ratably to $0.025 per gallon upon payment, prepayment or conversion as described above. The Company’s obligations under the TAA are guaranteed by Viridis Capital, LLC, which guarantee was subordinated by the Sellers to the rights of YA Global under its guaranty agreement with Viridis Capital (see Note 8, Guaranty Agreements The only conditions under which the Company would be required to redeem its convertible preferred stock for cash would be in the event of a liquidation of the Company or in the event of a cash-out merger of the Company. COMMON STOCK The Company completed a 1 for 100 reverse stock split on June 29, 2015. All stock prices, share amounts, per share information, stock options and stock warrants in this report reflect the impact of the reverse stock split applied retroactively. Every hundred shares of issued and outstanding Company common stock was automatically combined into one issued and outstanding share of common stock, without any change in the par value per share. All fractional shares resulting from the reverse split were rounded to a full share. During the six months ended June 30, 2015 and 2014, the Company issued a total of 16,575,787 shares and 315,884 shares of common stock, respectively, upon conversion in period of $224,079 and $655,996, respectively, of principal and accrued interest due pursuant to the Company’s various convertible debentures (see Note 7, Debt Obligations

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Notes
Note 10 - Commitments and Contingencies	NOTE 10 COMMITMENTS AND CONTINGENCIES INFRINGEMENT On October 13, 2009, the U.S. Patent and Trademark Office (“PTO”) issued U.S. Patent No. 7,601,858, titled "Method of Processing Ethanol Byproducts and Related Subsystems” (the ’858 Patent) to GS CleanTech Corporation, a wholly-owned subsidiary of GreenShift Corporation. On October 27, 2009, the PTO issued U.S. Patent No. 7,608,729, titled "Method of Freeing the Bound Oil Present in Whole Stillage and Thin Stillage” (the ’729 Patent) to GS CleanTech. Both the ‘858 Patent and the ‘729 Patent relate to the Company’s corn oil extraction technologies. GS CleanTech Corporation, our wholly-owned subsidiary, subsequently filed legal actions in multiple jurisdictions alleging infringement by various persons and entities. Multiple additional related suits and countersuits were filed. On May 6, 2010, we submitted a "Motion to Transfer Pursuant to 28 U.S.C. § 1407 for Consolidated Pretrial Proceedings" to the United States Judicial Panel on Multidistrict Litigation (the "Panel") located in Washington, D.C. In this motion, we moved the Panel to transfer and consolidate all pending suits involving infringement of our patents to one federal court for orderly and efficient review of all pre-trial matters. On August 6, 2010, the Panel ordered the consolidation and transfer of all pending suits in the U.S. District Court, Southern District of Indiana for pretrial proceedings (the "MDL Case"). In October 2014, the District Court in Indiana ruled in favor of the defendants in our pending patent infringement matter on their motions for summary judgment alleging that our corn oil extraction patents were invalid, including US Pat. Nos. 7,601,858 and 8,168,037. The summary judgment ruling was not final and there are additional issues in the MDL Case that can be expected to be resolved this year. We disagree with the court’s ruling and intend to mount a vigorous appeal at the appropriate time. OTHER MATTERS The Company is party to an action entitled Max v. GS AgriFuels Corp., et al. in the Supreme Court, New York County, in which the plaintiffs are asserting claims to money damages against the Company and other defendants, arising from a series of Share Purchase Agreements dated March 6, 2007, under which the individual plaintiffs sold their shares in Sustainable Systems, Inc., to GS AgriFuels Corporation, a former subsidiary of the Company. In their Amended Complaint, plaintiffs asserted claims for breach of contract, fraud and negligent misrepresentation, and sought money damages in the amount of $6 million. On March 19, 2013, the Court granted in part the defendants’ motion to dismiss the Amended Complaint, and dismissed all but the breach of contract claims asserted against the Company and certain other corporate defendants. The plaintiffs have filed a Notice of Appeal from that ruling, and had indicated that they intended to perfect their appeal. On October 30, 2013, the defendants filed a motion for summary judgment dismissing the plaintiffs’ remaining claims for breach of contract. On August 6, 2014, the Court granted the defendants’ motion to dismiss the Complaint, denied the defendants’ motion for summary judgment and dismissal of the plaintiff’s breach of contract claim, and denied the plaintiffs’ cross motion for discovery. Subsequent to December 31, 2014, the Company entered into a settlement agreement pursuant to which the plaintiff is to receive $25,000 in cash and a convertible debenture in the amount of $300,000. In the event that the plaintiffs have not converted the debenture in full at the expiration of three years, the plaintiffs may request the remaining amount be paid in full at that time. The Company accrued $325,000 as of the year ended December 31, 2014. On September 10, 2012, Long Side Ventures commenced an action entitled Long Side Ventures and Sunny Isles Ventures, LLC, LLC v. GreenShift et. al., in the United States District Court for the Southern District of New York, alleging breach of contract and other causes of action for which the plaintiff seeks damages of about $250,000 plus costs. Subsequent to December 31, 2014, the Company entered into a settlement agreement pursuant to which the plaintiff is to receive $150,000 in cash and securities in the amount of $250,000. The Company accrued the entire $400,000 judgment on its books as of the year ended December 31, 2014. During the six months ended June 30, 2014, the Company issued a debenture to Long Side Ventures in the amount of $250,000 (see Note 7 Debt Obligations On October 10, 2013, Golden Technology Management, LLC, and other plaintiffs commenced an action entitled Golden Technology Management, LLC, et al. v. NextGen Acquisition, Inc. et al. in the Supreme Court of the State of New York, County of New York, alleging breach of contract and other causes of action against the Company in connection with the acquisition of NextGen Fuel, Inc. by a former subsidiary. Plaintiffs seek damages in excess of $5,200,000 plus prejudgment interest and costs. The Company intends to vigorously defend this action. At this stage of the proceedings, we cannot evaluate the likelihood of an unfavorable outcome in excess of the amounts previously accrued. The Company is also involved in various collection matters for which vendors are seeking payment for services rendered and goods provided. The Company and its subsidiaries are party to numerous matters pertaining to outstanding amounts alleged to be due. Management is unable to characterize or evaluate the probability of any outcome at this time. Under the Company’s insurance programs, coverage is obtained for catastrophic exposures, as well as those risks required to be insured by law or contract. There is a $2,500 deductible per occurrence for environmental impairments. Environmental liability insurance is carried with policy limits of $1,000,000 per occurrence and $2,000,000 aggregate. The Company is party to an employment agreement with Kevin Kreisler, the Company’s Chairman and Chief Executive Officer, which agreement includes terms for reimbursement of expenses, periodic bonuses, four weeks’ vacation and participation in any employee benefits provided to all employees of GreenShift Corporation. The Company’s Articles of Incorporation provide that the Company shall indemnify its officers, directors, employees and agents to the full extent permitted by Delaware law. The Company’s Bylaws include provisions to indemnify its officers and directors and other persons against expenses (including attorney’s fees, judgments, fines and amounts paid for settlement) incurred in connection with actions or proceedings brought against them by reason of their serving or having served as officers, directors or in other capacities. The Company does not, however, indemnify them in actions in which it is determined that they have not acted in good faith or have acted unlawfully. The Company is further subject to various indemnification agreements with various parties pursuant to which the Company has agreed to indemnify and hold such parties harmless from and against expenses and costs incurred (including attorney’s fees, judgments, fines and amounts paid for settlement) in connection with the provision by such parties of certain financial accommodations to the Company. Such parties indemnified by the Company include YA Global Investments, L.P., YA Corn Oil Systems, LLC, Viridis Capital, LLC, Minority Interest Fund (II), LLC, Acutus Capital, LLC, and various family members of the Company’s chairman that have provided the Company with cash investments.

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Notes
Note 11 - Related Party Transactions	NOTE 11 RELATED PARTY TRANSACTIONS Minority Interest Fund (II), LLC (“MIF”) is party to certain convertible debentures issued by the Company (see Note 7, Debt Obligations Viridis Capital LLC (“Viridis”) was party to a $100,000 convertible debenture issued by the Company, which debt was written off and cancelled during the quarter ended June 30, 2015 (see Note 7, Debt Obligations The Company developed an intellectual property portfolio involving production of carbon-neutral alternatives for fossil fuel derived products (“Bioproducts Portfolio”) in concert with various third parties (see Note 12, Investment In Joint Venture Under The Equity Method

Note 12 - Investment in Joint V

Note 12 - Investment in Joint Venture Under The Equity Method	6 Months Ended
	Jun. 30, 2015
Notes
Note 12 - Investment in Joint Venture Under The Equity Method	NOTE 12 INVESTMENT IN JOINT VENTURE UNDER THE EQUITY METHOD The Company’s wholly-owned subsidiary, GS CleanTech Corporation, is the owner of 100% of the issued and outstanding membership units of Genarex LLC (“GX”), an entity which in turn holds 36.75% of the issued and outstanding membership units of Genarex FD LLC (“LLC”). LLC was formed in 2015 for the purpose of continuing the development and commercialization of an intellectual property portfolio involving production of carbon-neutral alternatives for fossil fuel derived products (“Bioproducts Portfolio”), which had previously been developed in concert with various third parties. ASC 810 requires the Company to evaluate non-consolidated entities periodically and as circumstances change to determine if an implied controlling interest exists. The Company has evaluated this equity investment and concluded that this is a variable interest entity and the Company is not the primary beneficiary. LLC’s fiscal year end is December 31. Under the associated agreements, an unaffiliated member has agreed to provide LLC up to $3 million to fund the continuing development of the Bioproducts Portfolio. As of the six months ended June 30, 2015, $385,487 of that amount had been received. The members also assigned their respective interests in the Bioproducts Portfolio to LLC. GX’s contribution was valued at $4 million, however, the relevant agreements provide for GX to receive a preferential distribution until it receives approximately $3 million, at which point GX’s interest will decrease from 36.75% to 24.50%. The Company engaged two separate third party valuation firms, the first to complete a fairness opinion in respect of the foregoing, and the second to perform a valuation of GX’s interest in LLC using the fair value method as defined by FASB ASC 805-10-20. Under this method, fair value is defined as “the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date.” Using the income approach, the valuation company used the discounted cash flow method to develop low, mid and high cash projections for LLC’s potential business model by estimating the expected cash flows derived from production of LLC’s products on a commercial scale. As of June 30 2015, the Company had funded $515,849 towards operations and research and development of LLC, of which $469,141 has been reimbursed under the relevant joint venture agreements. The following presents unaudited summary financial information for LLC. Such summary financial information has been provided herein based upon the individual significance of this unconsolidated equity investment to the consolidated financial information of the Company. The investment balance carried on the Company’s balance sheet amounts to $3,842,204 as of June 30, 2015. The Company’s share of the net loss from LLC for the six months ended June 30, 2015 was $161,471. Summarized financial information for LLC (unaudited) 6/30/2015 Current assets $ 3,000 Intangible assets, net 3,904,762 Current liabilities 135,043 Members’ equity 3,772,719 6/30/2015 Net sales $ -- Operating expenses 640,933 Amortization expense 95,238 Net (loss) (736,171)

Note 13 - Supplemental Disclosu

Note 13 - Supplemental Disclosure of Cash Flow Information	6 Months Ended
	Jun. 30, 2015
Notes
Note 13 - Supplemental Disclosure of Cash Flow Information	NOTE 13 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION The following is a summary of supplemental disclosures of cash flow information for the six months ended June 30, 2015 and 2014: 6/30/2015 6/30/2014 Cash paid for the following: Interest $ -- $ -- Taxes -- 30 Total -- 30 Non-Cash Investing and Financing Activities Debentures converted into common stock 224,079 608,968 Debenture issued in settlement of contingent liability 250,000 Forgiveness of affiliate receivable charged against paid in capital -- 60,000

Restatement

Restatement	6 Months Ended
	Jun. 30, 2015
Notes
Restatement	NOTE 14 RESTATEMENT The Company has restated its financial statements for the six months ended June 30, 2015 to include certain corrections that were not previously included in an electronic version originally filed on September 17, 2015. The table below summarizes the impact of the restatement described above: Three Months Ended Six Months Ended As Reported Restated As Reported Restated 6/30/2015 6/30/2015 6/30/2015 6/30/2015 Excerpt from 2015 Consolidated Balance Sheets: Due from affiliate $ 132,362 $ 46,708 Investment 3,733,132 3,842,204 Liability for preferred stock – related party 706,576 740,854 Additional paid in capital 125,902,978 126,114,118 Accumulated Deficit (164,282,759 ) (164,504,760 ) Excerpt from 2015 Statement of Operations: Research and development (146,429 ) (51,783 ) 174,161 268,807 Sales, general and administrative expenses 1,763,533 1,965,682 2,946,574 3,148,723 Change in conversion liabilities - related party 4,305 (29,972 ) (8,528 ) (42,806 ) Earnings (Loss) per Share: Net income (loss) per share – basic $ (0.13 ) $ (0.14 ) $ (0.18 ) $ (0.19 ) Net income (loss) per share – diluted $ (0.13 ) $ (0.14 ) $ (0.18 ) $ (0.19 ) Excerpt from 2015 Consolidated Statement of Cash Flows: Equity loss from investee -- 161,471 Change in conversion liabilities - related party 6,109 40,387 Due from affiliate -- (46,708 ) Issuance of debenture from settlement of contingency 250,000 --

Note 1 - Basis of Presentation_

Note 1 - Basis of Presentation: References To The Company (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
References To The Company	REFERENCES TO THE COMPANY In this Quarterly Report on Form 10-Q, the terms “ we our us GreenShift Company GreenShift Corporation The balance sheet at December 31, 2014 was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The other information in these condensed financial statements is unaudited but, in the opinion of management, reflects all adjustments necessary for a fair presentation of the results for the periods covered. All such adjustments are of a normal recurring nature unless disclosed otherwise. These financial statements, including notes, have been prepared in accordance with the applicable rules of the Securities and Exchange Commission and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. These financial statements should be read in conjunction with the financial statements and additional information as contained in our Annual Report on Form 10-K for the year ended December 31, 2014.

Note 1 - Basis of Presentatio21

Note 1 - Basis of Presentation: Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Consolidated Financial Statements	CONSOLIDATED FINANCIAL STATEMENTS The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities which we control. All significant intercompany balances and transactions have been eliminated on a consolidated basis for reporting purposes.

Note 1 - Basis of Presentatio22

Note 1 - Basis of Presentation: Use of Estimates in The Preparation of Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Use of Estimates in The Preparation of Consolidated Financial Statements	USE OF ESTIMATES IN THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 4 - Significant Accounti23

Note 4 - Significant Accounting Policies: Segment Information (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Segment Information	SEGMENT INFORMATION We determined our reporting units in accordance with FASB ASC 280, “ Segment Reporting

Note 4 - Significant Accounti24

Note 4 - Significant Accounting Policies: Revenue Recognition (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Revenue Recognition	REVENUE RECOGNITION The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collection is reasonably assured. The Company recognizes revenue from licensing of the Company’s corn oil extraction technologies when corn oil sales occur. Licensing royalties are recognized as earned by calculating the royalty as a percentage of gross corn oil sales by the ethanol plants. For the purposes of assessing royalties, the sale of corn oil is deemed to occur when shipped, which is when four basic criteria have been met: (i) persuasive evidence of a customer arrangement; (ii) the price is fixed or determinable; (iii) collectability is reasonably assured, and (iv) product delivery has occurred, which is generally upon shipment to the buyer of the corn oil. Deposits from customers are not recognized as revenues, but as liabilities, until the following conditions are met: revenues are realized when cash or claims to cash (receivable) are received in exchange for goods or services, or when assets received in such exchange are readily convertible to cash or claim to cash, or when such goods or services are transferred. When an income item is earned, the related revenue item is recognized and any deferred revenue is reduced. To the extent revenues are generated from the Company’s licensing support services, the Company recognizes such revenues when the services are completed and billed. The Company provides process engineering services on fixed price contracts. These services are generally provided over a short period of less than three months. Revenue from fixed price contracts is recognized on a pro rata basis over the life of the contract as they are generally performed evenly over the contract period. The Company additionally performs under fixed-price contracts involving design, engineering, procurement, installation, and start-up of oil recovery and other production systems. Revenues and fees on these contracts are recognized using the percentage-of-completion method of accounting, and specifically the efforts-expended percentage-of-completion method using measures such as task duration and completion. The efforts-expended approach is used in situations where it is more representative of progress on a contract than the cost-to-cost or the labor-hours methods. The asset, “costs and estimated earnings in excess of billings on uncompleted contracts,” represents revenues recognized in excess of amounts billed. The liability, “billings in excess of costs and estimated earnings on uncompleted contracts,” represents billings in excess of revenues recognized.

Note 4 - Significant Accounti25

Note 4 - Significant Accounting Policies: Basic and Diluted Income (loss) Per Share (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Basic and Diluted Income (loss) Per Share	BASIC AND DILUTED INCOME (LOSS) PER SHARE The Company computes its net income or loss per common share under the provisions of ASC 260, “ Earnings per Share

Note 4 - Significant Accounti26

Note 4 - Significant Accounting Policies: Financial Instruments Policy (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Financial Instruments Policy	FINANCIAL INSTRUMENTS The carrying values of accounts receivable, other receivables, accounts payable and accrued expenses approximate their fair values due to their short term maturities. The carrying values of the Company’s long-term debt approximate their fair values based upon a comparison of the interest rate and terms of such debt to the rates and terms of debt currently available to the Company. It was not practical to estimate the fair value of the convertible debt. In order to do so, it would be necessary to obtain an independent valuation of these unique instruments. The cost of that valuation would not be justified in light of the materiality of the instruments to the Company.

Note 4 - Significant Accounti27

Note 4 - Significant Accounting Policies: Equity Investments (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Equity Investments	EQUITY INVESTMENTS Equity investments in which the Company exercises significant influence but does not control and is not the primary beneficiary are accounted for using the equity method. The Company’s share of its equity method investee’s earnings or losses is included in other income in the accompanying Consolidated Statements of Operations.

Note 4 - Significant Accounti28

Note 4 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This update provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about [the] entity’s ability to continue as a going concern.” The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company is currently evaluating the possible impact of ASU 2014-15, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers which modifies how all entities recognize revenue and various other revenue accounting standards for specialized transactions and industries. This update is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14, which deferred the effective date of the ASU to fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company is currently evaluating the possible impact of ASU 2014-15, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, or ASU No. 2015-02. The amendments of ASU No. 2015-02 were issued in an effort to minimize situations under previously existing guidance in which a reporting entity was required to consolidate another legal entity in which that reporting entity did not have: (1) the ability through contractual rights to act primarily on its own behalf; (2) ownership of the majority of the legal entity's voting rights; or (3) the exposure to a majority of the legal entity's economic benefits. ASU No. 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The guidance in ASU No. 2015-02 is effective for periods beginning after December 15, 2015. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2014-15, but does not anticipate that it will have a material impact on the Company's consolidated financial statements.

Note 6 - Inventories_ Inventori

Note 6 - Inventories: Inventories Policy (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Inventories Policy

Note 5 - Fair Value Disclosur30

Note 5 - Fair Value Disclosures: Fair Value, Liabilities Measured on Recurring Basis (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Fair Value, Liabilities Measured on Recurring Basis	Embedded conversion liabilities as of June 30, 2015: Level 1 $ -- Level 2 -- Level 3 1,522,493 Total $ 1,522,493

Note 5 - Fair Value Disclosur31

Note 5 - Fair Value Disclosures: Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	Balance of embedded derivatives at December 31, 2014 $ 1,603,496 Present value of beneficial conversion features of new debentures 151,100 Accretion adjustments to fair value – beneficial conversion features 27,737 Reductions in fair value due to repayments/redemptions (138,480) ) Reduction upon extinguishment related to conversion feature-related party (100,000) Reductions in fair value due to principal conversions (21,390) Balance at June 30, 2015 $ 1,522,493

Note 7 - Debt Obligations_ Sche

Note 7 - Debt Obligations: Schedule of Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Schedule of Debt	6/30/2015 Current portion of long term debt: Mortgages and other term notes $ 21,743 Current portion of notes payable 1,345,302 Total current portion of long term debt $ 1,367,045 Current portion of convertible debentures YA Global Investments, L.P., 6% interest, conversion at 90% of market $ 10,855,919 Better Half Bloodstock, Inc., 0% interest, conversion at 90% of market 50,000 Circle Strategic Allocation Fund, LP, 6% interest, conversion at 90% of market 40,413 Dakota Capital Pty Limited, 6% interest, conversion at 90% of market 714,870 EFG Bank, 6% interest, conversion at 90% of market 117,948 Empire Equity, 6% interest, conversion at 90% of market 113,768 Epelbaum Revocable Trust, 6% interest, conversion at 90% of market 91,252 Highland Capital, 6% interest, conversion at 90% of market 5,600 JMC Holdings, LP, 6% interest, conversion at 90% of market 140,380 Dr. Michael Kesselbrenner, 6% interest, conversions at 90% of market 11,484 David Moran & Siobhan Hughes, 6% interest, conversion at 90% of market 2,399 Morano, LLC, 6% interest, no conversion discount 33,320 Mountainville LTD., 6% interest, conversion at 90% of market 1,190,446 Susan Schneider, 6% interest, conversions at 90% of market 10,510 Minority Interest Fund (II), LLC, 6% interest, no conversion discount 2,229,762 Related Party Debenture, 6% interest, no conversion discount 81,417 Conversion liabilities 1,260,718 Total convertible debentures $ 16,950,206 Long term convertible debentures Gerova Asset Backed Holdings, LP, 2% interest, no conversion discount 175,000 Long Side Ventures, 6% interest, conversion at 90% of market 254,041 Total long term convertible debentures $ 429,041

Note 7 - Debt Obligations_ Sc33

Note 7 - Debt Obligations: Schedule of Company's ability to fulfill its fixed debt service requirements (net of note discounts) (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Schedule of Company's ability to fulfill its fixed debt service requirements (net of note discounts)	Year Amount 2015 $ 17,056,534 2016 -- 2017 -- 2018 410,574 2019 -- Thereafter -- Total minimum payments due under current and long term obligations $ 17,467,108

Note 12 - Investment in Joint34

Note 12 - Investment in Joint Venture Under The Equity Method: Equity Method Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Equity Method Investments	Summarized financial information for LLC (unaudited) 6/30/2015 Current assets $ 3,000 Intangible assets, net 3,904,762 Current liabilities 135,043 Members’ equity 3,772,719 6/30/2015 Net sales $ -- Operating expenses 640,933 Amortization expense 95,238 Net (loss) (736,171)

Note 13 - Supplemental Disclo35

Note 13 - Supplemental Disclosure of Cash Flow Information: Schedule of Cash Flow, Supplemental Disclosures (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Schedule of Cash Flow, Supplemental Disclosures	6/30/2015 6/30/2014 Cash paid for the following: Interest $ -- $ -- Taxes -- 30 Total -- 30 Non-Cash Investing and Financing Activities Debentures converted into common stock 224,079 608,968 Debenture issued in settlement of contingent liability 250,000 Forgiveness of affiliate receivable charged against paid in capital -- 60,000

Note 2 - Description of Busin36

Note 2 - Description of Business (Details)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Details
Concentration Risk, Customer	four customers each provided over 10% of our revenue, including one customer that accounted for more than 50% of sales	three customers each provided over 10% of our revenue

Note 3 - Going Concern (Details

Note 3 - Going Concern (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Cash	$ 158,934	$ 587,021	$ 2,385,291	$ 3,896,312
Excess of Liabilities over Assets	41,147,032
Current portion of convertible debentures, net	$ 14,639,027	15,062,191
Debentures in default
Current portion of convertible debentures, net		$ 13,344,990

Note 5 - Fair Value Disclosur38

Note 5 - Fair Value Disclosures: Fair Value, Liabilities Measured on Recurring Basis (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$ 1,522,493	$ 1,603,496
Fair Value, Inputs, Level 3
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$ 1,522,493

Note 5 - Fair Value Disclosur39

Note 5 - Fair Value Disclosures: Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Details
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$ 1,522,493	$ 1,603,496
Present value of beneficial conversion features of new debentures	151,100
Accretion adjustments to fair value - beneficial conversion features	27,737
Reductions in fair value due to repayments/redemptions	(138,480)
Reductions upon extinguishment related to conversion feature - related party	(100,000)
Reductions in fair value due to principal conversions	$ (21,390)

Note 6 - Inventories (Details)

Note 6 - Inventories (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Details
Inventories, net	$ 691,896	$ 691,896

Note 7 - Debt Obligations_ Sc41

Note 7 - Debt Obligations: Schedule of Debt (Details) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Mortgages and other term notes		$ 21,743
Notes Payable, Current		1,345,302
Current portion of long term debt		1,367,045
Current portion of convertible debentures, net		16,950,206
Convertible debentures		429,041	$ 175,000
MinorityInterestFundIILLCMember
Current portion of convertible debentures, net	[1]	10,510
YA Global Investments
Current portion of convertible debentures, net	[2]	10,855,919
Better Half Bloodstock Inc
Current portion of convertible debentures, net	[3]	50,000
Circle Strategic Allocation Fund L P
Current portion of convertible debentures, net	[2]	40,413
Dakota Capital Pty Limited
Current portion of convertible debentures, net	[2]	714,870
EFG Bank
Current portion of convertible debentures, net	[2]	117,948
Empire Equity
Current portion of convertible debentures, net	[2]	113,768
Epelbaum Revocable Trust
Current portion of convertible debentures, net	[2]	91,252
Highland Capital
Current portion of convertible debentures, net	[2]	5,600
JMC Holdings L P
Current portion of convertible debentures, net	[2]	140,380
Dr Michael Kesselbrenner
Current portion of convertible debentures, net	[2]	11,484
David Moran & Siobhan Hughes
Current portion of convertible debentures, net	[2]	2,399
Morano LLC
Current portion of convertible debentures, net	[1]	33,320
Susan Schneider
Current portion of convertible debentures, net	[2]	1,190,446
Viridis Capital LLC
Current portion of convertible debentures, net	[4]	2,229,762
Related Party Debenture
Current portion of convertible debentures, net	[1]	81,417
Conversion Liabilities
Conversion liabilities		1,260,718
Gerova Debenture
Convertible debentures		175,000
Long Side Ventures
Convertible debentures		$ 254,041
[1]	6% interest, no conversion discount.
[2]	6% interest, conversion at 90% of market.
[3]	0% interest, conversion at 90% of market.
[4]	6% interest, conversion at 50% of market.

Note 7 - Debt Obligations (Deta

Note 7 - Debt Obligations (Details)	Jun. 30, 2015USD ($)
Details
Principal convertible to common stock	$ 16,100,063

Note 7 - Debt Obligations_ Sc43

Note 7 - Debt Obligations: Schedule of Company's ability to fulfill its fixed debt service requirements (net of note discounts) (Details)	Jun. 30, 2015USD ($)
Minimum payments due under current and long term obligations	$ 17,467,108

Note 7 - Debt Obligations_ YA G

Note 7 - Debt Obligations: YA Global Investments, L.P. (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Interest Expense	$ 232,855	$ 298,333	$ 455,787	$ 647,944
A And R Debenture
Debt Instrument, Face Amount	33,308,023		$ 33,308,023			$ 4,634,512
Debt Instrument, Interest Rate During Period			6.00%
Debt Instrument, Convertible, Terms of Conversion Feature			provides the holder with the right, but not the obligation, to convert any portion of the A&R Debenture into the Company’s common stock at a rate equal to the lesser of (a) $1.00 or (b) 90% of the lowest daily volume weighted average price of the Company’s common stock during the 20 consecutive trading days immediately preceding the conversion date. A holder of the A&R Debenture will not be permitted, however, to convert into a number of shares that would cause it to own more than 4.99% of the Company’s outstanding common shares
Cash paid towards the principal balance					$ 4,529,500
Principal due assigned to equity holders					1,300,000
Long-term Debt, Fair Value					$ 19,675,780
Decrease in Conversion Liability relating to Debenture			$ 143,048
Carrying value of debenture	11,840,115		11,840,115
Carrying value of debenture, Principal portion	10,855,919		10,855,919
Current liability for conversion feature	$ 984,196		984,196
Interest Expense			$ 352,231

Note 7 - Debt Obligations_ YA C

Note 7 - Debt Obligations: YA Corn Oil (Details)	Dec. 31, 2013USD ($)
Details
YA Corn Oil Promissory Note Amount	$ 1,295,302

Note 7 - Debt Obligations_ Assi

Note 7 - Debt Obligations: Assignees of YA Global Investments, L.P. (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013
Interest Expense	$ 232,855	$ 298,333	$ 455,787	$ 647,944
A And R Debenture
Aggregate Balance	1,323,995		1,323,995
Aggregate Value					$ 5,149,206
Debt Instrument, Face Amount	33,308,023		33,308,023		$ 4,634,512
Carrying value of debenture	11,840,115		11,840,115
Interest Expense			352,231
AssigneeDebenturesMember
Carrying value of debenture	$ 2,765,593		2,765,593
Interest Expense			$ 50,128

Note 7 - Debt Obligations_ Mino

Note 7 - Debt Obligations: Minority Interest Fund (II), LLC - MIF Debenture (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Apr. 30, 2013	Sep. 30, 2011	Dec. 31, 2010
Interest Expense	$ 232,855	$ 298,333	$ 455,787	$ 647,944
MIF Debenture
Debt Instrument, Face Amount							$ 3,988,326
Viridis 2010 Debenture
Debt Instrument, Face Amount							$ 518,308
MIFDebentureMember
Debt Instrument, Face Amount						$ 3,017,061
Accrued interest eliminated and contributed						502,086
Principal eliminated and contributed						1,065,308
Debt Instrument Balance	2,229,762		2,229,762
Viridis Debenture
Debt Instrument, Face Amount					$ 477,273	$ 237,939
Convertible Debt					$ 250,000
Portion of Debenture Reassigned to a Related Party			150,000
Reduction of Fair Value			136,364
Accretion Expense			6,061
Carrying value of debenture	$ 0		0
Interest Expense			$ 2,975

Note 7 - Debt Obligations_ Gero

Note 7 - Debt Obligations: Gerova - Gerova Debenture (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2012
Interest Expense	$ 232,855	$ 298,333	$ 455,787	$ 647,944
Gerova Debenture
Debt Instrument, Face Amount					$ 175,000
Debt Instrument, Description					Gerova Asset Back Holdings, LP (“Gerova” and the “Gerova Debenture”)
Debt Instrument, Convertible, Terms of Conversion Feature					Gerova shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company’s common stock at a rate equal to 100% of the closing market price for the Company’s common stock for the day preceding the conversion date
Carrying value of debenture	$ 175,000		175,000
Interest Expense			$ 1,736

Note 7 - Debt Obligations_ Mora

Note 7 - Debt Obligations: Morano - Morano Debenture (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Interest Expense	$ 232,855	$ 298,333	$ 455,787	$ 647,944
Morano Debenture
Debt Instrument, Face Amount					$ 200,000
Debt Instrument, Description					Nicholas J. Morano, LLC (“Morano” and the “Morano Debenture”)
Debt Instrument, Convertible, Terms of Conversion Feature					Morano shall have the right, but not the obligation, to convert any portion of the accrued interest into the Company’s common stock at 100% of the market price for the Company’s common stock at the time of conversion
Carrying value of debenture	$ 33,320		33,320
Interest Expense			$ 991

Note 9 - Stockholders' Equity_

Note 9 - Stockholders' Equity: Series B Preferred Stock (Details) - Class B Preferred Stock - shares	Jun. 30, 2015	Dec. 31, 2014
Convertible preferred stock shares outstanding	2,480,544	2,480,544
Convertible preferred stock shares issued	2,480,544	2,480,544

Note 9 - Stockholders' Equity51

Note 9 - Stockholders' Equity: Series D Preferred Stock (Details) - Series D Preferred Stock	Jun. 30, 2015$ / sharesshares
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.001
MinorityInterestFundIILLCMember
Convertible preferred stock shares issued	62,500
Convertible preferred stock shares outstanding	41,034
Viridis Debenture
Convertible preferred stock shares issued	800,000
Acutus Capital LLC
Convertible preferred stock shares outstanding	124,875

Note 9 - Stockholders' Equity52

Note 9 - Stockholders' Equity: Series F Preferred Stock (Details) - Series F Preferred Stock - Cantrell Winsness Technologies LLC - USD ($)	6 Months Ended
	Jun. 30, 2015	Jan. 01, 2010
Preferred Stock, Redemption Terms	The Series F preferred shares are redeemable at face value and a rate equal to the amount royalties paid or prepaid under the TAA. In addition, the Sellers have the right to convert the Series F preferred shares to pay or prepay royalties at a rate equal to the cash proceeds received by the Sellers upon sale of the common shares issued upon conversion Series F preferred shares.
Preferred Stock		$ 925,926
Present Value of Conversion Feature		$ 497,545
Expense for accretion of present value of conversion liability	$ 12,833
Estimated settlement value at June 10, 2020	$ 500,640

Note 9 - Stockholders' Equity53

Note 9 - Stockholders' Equity: Common Stock (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Details
Stockholders' Equity, Reverse Stock Split	The Company completed a 1 for 100 reverse stock split on June 29, 2015. All stock prices, share amounts, per share information, stock options and stock warrants in this report reflect the impact of the reverse stock split applied retroactively. Every hundred shares of issued and outstanding Company common stock was automatically combined into one issued and outstanding share of common stock, without any change in the par value per share. All fractional shares resulting from the reverse split were rounded to a full share.
Common stock issued during period	16,575,787	315,884
Shares converted to Common Stock, Value	$ 224,079	$ 655,996

Note 10 - Commitments and Con54

Note 10 - Commitments and Contingencies (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Details
Insurance Deductible	$ 2,500
Insurance Policy Limit per Occurrence	1,000,000
Insurance Policy Limit aggregate	$ 2,000,000

Note 11 - Related Party Trans55

Note 11 - Related Party Transactions (Details)	6 Months Ended
	Jun. 30, 2015
MinorityInterestFundIILLCMember
Nature of Common Ownership or Management Control Relationships	The managing member of MIF is a relative of the Company’s chairman

Note 12 - Investment in Joint56

Note 12 - Investment in Joint Venture Under The Equity Method: Equity Method Investments (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Details
Current assets	$ 3,000
Intangible assets, net	3,904,762
Current liabilities	135,043
Members' Equity	3,772,719
Operating expenses	640,933
Amortization expense	95,238
Net (loss)	$ (736,171)

Note 13 - Supplemental Disclo57

Note 13 - Supplemental Disclosure of Cash Flow Information: Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Details
Income Taxes Paid		$ 30
Debentures converted into common stock	$ 224,079	608,968
Debenture issued in settlement of contingent liability	$ 250,000
Forgiveness of affiliate receivable charged against paid in capital		$ 60,000