GreenShift (GERS) 10-Q 19 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 18, 2016
Document and Entity Information:
Entity Registrant Name	GREENSHIFT CORP
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Trading Symbol	gers
Amendment Flag	false
Entity Central Index Key	1,269,127
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		646,024,221
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	2,016
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash	$ 992,865	$ 1,877,991
Accounts receivable, net of doubtful accounts	460,560	309,196
Deposits, current		400,000
Inventories, net	316,500	455,000
Due from affiliates, current		271,264
Loans receivable	200,500	160,500
Prepaid expenses and other assets	19,319	19,919
Total current assets	1,989,745	3,493,870
Other Assets:
Intangible assets, net	16,376	17,977
Due from affiliates	1,502,511
Minority investment in subsidiary	3,079,844	3,360,355
Costs in excess of billings		9,107
Deposits	69,730	69,730
Total other assets	4,668,461	3,457,169
TOTAL ASSETS	6,658,206	6,951,039
Current Liabilities:
Accounts payable	1,261,333	1,103,936
Accrued expenses	328,521	464,925
Accrued expenses - deferred employee compensation	360,134	510,243
Income tax payable	151,020	151,020
Accrued interest payable	181,152	695,935
Accrued interest payable - related party	412,365	371,238
Current portion of convertible debentures, net	12,909	2,366,426
Current portion of convertible debentures - related parties, net	1,467,432	1,977,270
Derivative liabilities	6,830,793	7,148,016
Amounts due to minority shareholders	158,284	158,284
Total current liabilities	11,163,943	14,947,293
Long term Liabilities:
Convertible debentures	1,615,100	400,586
Convertible debentures - related party	325,000
Total long term liabilities	1,940,100	400,586
Total Liabilities	13,104,043	15,347,879
Commitments and Contingencies
Stockholders' Equity (Deficit):
Common stock: $0.0001 par value, 2,500,000,000 authorized 544,445,102 and 117,683,309 shares issued and outstanding, respectively	54,474	11,801
Additional paid in capital	138,107,621	137,975,673
Accumulated deficit	(144,611,213)	(146,387,595)
Total stockholders' equity (deficit)	(6,445,837)	(8,396,840)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	6,658,206	6,951,039
Series B Preferred Stock
Stockholders' Equity (Deficit):
Preferred Stock	2,481	2,481
Series G Preferred Stock
Stockholders' Equity (Deficit):
Preferred Stock	$ 800	$ 800

CONSOLIDATED BALANCE SHEETS PAR

CONSOLIDATED BALANCE SHEETS PARENTHETICAL - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	2,500,000,000	2,500,000,000
Common stock shares issued	544,445,102	117,683,309
Common stock shares outstanding	544,445,102	117,683,309
Series 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
Series G 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	800,000	800,000
Convertible preferred stock shares outstanding	800,000	800,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 1,493,003	$ 1,149,559	$ 2,387,242	$ 2,062,363
Costs of goods sold	448,662	439,064	520,363	716,727
Gross profit	1,044,341	710,495	1,866,879	1,345,636
Operating expenses:
Research and development		(51,783)		268,807
Sales, general and administrative expenses	658,784	1,965,682	1,390,372	3,148,723
Total operating expenses	658,784	1,913,899	1,390,372	3,417,530
Income (loss) from operations	385,557	(1,203,404)	476,507	(2,071,894)
Other Income (Expense):
Gain (loss) on extinguishment of debt	125,109	6,350	2,676,722	21,598
Other expense		(560,000)	(75,000)	(560,000)
Amortization of note discount	(560,192)		(1,120,383)
Equity loss from investee	(140,032)	(161,471)	(280,511)	(161,471)
Change in fair value of derivative instruments	3,504,980	(8,691)	304,832	2,419
Change in fair value of derivative instruments - affiliate	556	(29,972)	2,778	(42,806)
Interest expense	(73,173)	(629,642)	(162,888)	(1,200,835)
Interest expense - related party	(26,108)	(36,236)	(43,155)	(76,708)
Total other income (expense), net	2,831,140	(1,419,662)	1,302,395	(2,017,803)
Income (loss) before provision for income taxes	3,216,697	(2,623,066)	1,778,902	(4,089,697)
(Provision for)/benefit from income taxes			(2,520)
Net income (loss)	$ 3,216,697	$ (2,623,066)	$ 1,776,382	$ (4,089,697)
Weighted average common shares outstanding, basic	443,077,211	15,552,350	227,120,692	17,507,302
Weighted average common shares outstanding, diluted	78,848,772,951	15,552,350	78,848,772,951	17,507,302
Earnings (Loss) per Share:
Income (loss) from continuing operations - basic	$ 0.01	$ (0.17)	$ 0	$ (0.26)
Income (loss) from continuing operations - diluted	$ 0	$ (0.17)	$ 0	$ (0.26)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOW FROM OPERATING ACTIVITIES
Net income (loss)	$ 1,776,382	$ (4,089,697)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of intangibles	1,601	1,601
Amortization of note discount	1,120,383
Loss (gain) on extinguishment of debt	(2,676,722)	(21,598)
Change in fair value of derivatives	(307,610)	40,387
Recognition of intrinsic value of beneficial conversion feature		745,048
Equity losses from investee	280,511	161,471
Bad debt expense	10,000
Expenses incurred by issuance of debentures	2,028	5,244
Changes in operating assets and liabilities:
Change in accounts receivable	(161,364)	156,574
Change in deposits	400,000
Change in prepaid expenses	600	(18,793)
Change in billings in excess	9,107	(18,478)
Change in due from affiliate		(46,708)
Change in inventory	138,500
Change in other receivables	(40,000)
Change in deferred revenue		44,550
Change in accrued interest	162,888	450,543
Change in accrued interest - related party	41,127	42,708
Change in accounts payable and accrued expenses	(9,008)	2,347,928
Net cash provided by operating activities	748,423	(199,218)
CASH FLOW FROM INVESTING ACTIVITIES
Loans to development partners - related parties	(1,231,475)
Net cash provided by(used in) investing activities	(1,231,475)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of convertible debentures	(402,074)	(228,869)
Net cash provided by (used in) financing activities	(402,074)	(228,869)
Net increase (decrease) in cash	(885,126)	(428,087)
Cash at beginning of period	1,877,991	587,021
Cash at end of period	$ 992,865	$ 158,934

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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 condensed balance sheet at December 31, 2015 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 condensed 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 condensed 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, 2015. 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, 2016
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. and international 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, 2016, four customers each provided over 10% of our revenue and 73% of total revenue in the aggregate; during the six months ended June 30, 2015, four customers each provided over 10% of our revenue, including two customers 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, 2016
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. The Company recorded income from operations of $476,507 for the six months ended June 30, 2016. As of June 30, 2016, the Company had $993,000 992,865 The Company’s parent, Bitzio, Inc. (“Bitzio”), paid $2.5 million to the Company which was drawn from a loan of $2.9 million made to Bitzio by TCA Global Credit Master Fund, LP ("TCA"). The loan was made on December 31, 2015, pursuant to a Senior Secured Revolving Credit Facility Agreement (the "Credit Agreement"), under which TCA may lend to Bitzio up to $5.0 million. The Company and each of its subsidiaries, as well as each of the other subsidiaries of Bitzio, have executed a Guaranty Agreement dated December 31, 2015, in favor of TCA. In the Guaranty Agreement, the Company and each of its subsidiaries guaranteed payment of all amounts due to TCA under the Credit Agreement. By separate agreements, the Company and each subsidiary pledged all of its assets to secure the guaranty to TCA. 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 if the Company is unable to continue as a going concern.

Note 4 - Significant Accounting

Note 4 - Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
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 We have one operating segment and reporting unit. We operate in one reportable business segment; we provide technologies and related products and services to U.S.-based ethanol producers. We are organized and operated as one business. We exclusively sell our technologies, products and services to ethanol producers that have entered into license agreements with the Company. No sales of any kind occur, and no costs of sales of any kind are incurred, in the absence of a license agreement. A single management team that reports to the chief operating decision maker comprehensively manages the entire business. We do not operate any material separate lines of business or separate business entities with respect to our technologies, products and services. The Company does not accumulate discrete financial information according to the nature or structure of any specific technology, product and/or service provided to the Company’s licensees. Instead, management reviews its business as a single operating segment, using financial and other information rendered meaningful only by the fact that such information is presented and reviewed in the aggregate. Discrete financial information is not available by more than one operating segment, and disaggregation of our operating results would be impracticable. 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. 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. During 2016 and 2015, our percentage-of-completion methods included the efforts-expended percentage-of-completion method and the cost-to-cost method. The efforts-expended method utilizes 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 method (see below). The Company also used the cost-to-cost method which is used to determine the percentage of completion of a project based on the actual costs incurred. Earnings are recognized periodically based upon our estimate of contract revenues and costs in providing the services required under the contract. The percentage of completion method must be used in lieu of the completed contract method when all of the following are present: reasonably reliable estimates can be made of revenue and costs; the construction contract specifies the parties’ rights as to the goods, consideration to be paid and received, and the resulting terms of payment or settlement; the contract purchaser has the ability and expectation to perform all contractual duties; and the contract contractor has the same ability and expectation to perform. Under the completed contract method income is recognized only when a contract is completed or substantially completed. 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 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 2014-09, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under this amendment, management is now required to determine every interim and annual period whether conditions or events exist that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued. If management indicates that it is probable the entity will not be able to meet its obligations as they become due within the assessment period, then management must evaluate whether it is probable that plans to mitigate those factors will alleviate that substantial doubt. The guidance is effective for fiscal years, beginning after December 15, 2016. 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. ASU 2015-03 and ASU 2015-15 — In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, or ASU No. 2015-03. The amendments of ASU No. 2015-03 were issued to reduce complexity in the balance sheet presentation of debt issuance costs. ASU No. 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this standard. Additionally, in August 2015, the FASB issued ASU No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, or ASU No. 2015-15, as ASU No. 2015-03 did not specifically address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. ASU No. 2015-15 allows an entity to continue to defer and present debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The guidance in ASU No. 2015-03 and ASU No. 2015-15 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The Company adopted this standard at January 1, 2016, but it did not have a material effect on the accompanying financial statements. In July 2015, the FASB issued ASU-2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The amendments of ASU NO. 2015-11 were issued in an effort to change the measurement principle for inventory from the lower of cost or market to lower of cost and the net realizable value. The guidance in ASU NO. 2015-11 is effective for periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2015-11, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The new guidance establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2016-02, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-07 (Topic 323), Investments – Equity Method and Joint Ventures. The new guidance eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The guidance is effective for fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2016-07, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-09 (Topic 718), Improvements to Employee Share-Based Payment Accounting. The new guidance will change how companies account for certain aspects of share-based payments to employees. The Company will be required to recognize the income tax effects of awards in the income statement when the awards vest or are settled (i.e., additional paid-in capital or APIC pools will be eliminated). The guidance is effective for fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2016-09, 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, 2016
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 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 the six months ended June 30, 2015, the fair value of embedded derivative 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. 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%. For the six months ended June 30, 2016, the fair value of most embedded derivative 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. 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%. The Company also used the Black Scholes methodology with a weighted probability calculation for conversion features with a reset provision utilizing the following assumptions: (1) conversion price discounts of 10% to 50%; (2) estimated life of 1.50 years; (3) the US Treasury rate for two year maturities; (4) 325% volatility; (5) dividend yield of zero, and rate of 0.14 percent. During the six months ended June 30, 2016 and 2015, the change in the fair value of the derivative resulted in an accounting gain (loss) of $307,610 and $(40,387) respectively. As of June 30, 2016, the fair value of the derivative liabilities was $6,830,793. 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 20% change in the conversion discount percentage would result in more than a $550,000 change in our Level 3 fair value. The following table presents the embedded derivatives, 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, 2016: Balance of embedded derivatives at March 31, 2016 : Level 1 $ -- Level 2 -- Level 3 6,830,793 Total $ 6,830,793 The following table reconciles, for the period ended June 30, 2016, 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, 2015 $ 7,148,016 Decrease in fair value of derivatives (54,523 ) Reductions in fair value due to repayments/redemptions (253,087 ) Reductions in fair value due to principal conversions (9,613 ) Balance at June 30, 2016 $ 6,830,793 We accounted for our convertible debt in accordance with ASC 815, Derivatives and Hedging

Note 6 - Inventories

Note 6 - Inventories	6 Months Ended
	Jun. 30, 2016
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, 2016 and December 31, 2015 were $316,500 and $455,000, respectively.

Note 7 - Debt Obligations

Note 7 - Debt Obligations	6 Months Ended
	Jun. 30, 2016
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: 6/30/2016 Current portion of convertible debentures David Moran & Siobhan Hughes, 6% interest, conversion at 90% of market $ 2,399 Susan Schneider, 6% interest, conversions at 90% of market 10,510 Minority Interest Fund (II), LLC, 6% interest, no conversion discount 1,439,900 Related Party Debenture, 6% interest, no conversion discount 27,532 Total current portion of convertible debentures $ 1,480,341, 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 219,717 Cantrell Winsness Technologies, LLC, 2% interest, conversion at 100% of market 325,000 TRK Management LLC, 6% interest, no conversion discount 100,000 EXO Opportunity Fund, LLC, 6% interest, conversion at 90% of market 4,500,000 Note discount (3,379,617 ) Total long term convertible debentures $ 1,940,100 A total of $6,800,058 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, 2016 and the Company’s ability to meet such obligations: Year Amount 2016 $ 1,480,341 2017 4,625,000 2018 694,717 2019 -- 2020 -- Thereafter -- Total minimum payments due under current and long term obligations $ 6,800,058 YA GLOBAL INVESTMENTS, L.P. On December 31, 2015, YA Global Investments, LP ("YA Global") and GreenShift entered into a Settlement Agreement pursuant to which YAGI split its outstanding debt into two debentures, a $14,196,897 debenture and a $5,000,000 debenture; and then accepted, in satisfaction of $14,196,897 of principal and interest accrued on debentures previously issued by GreenShift, a cash payment of $2,000,000, and the execution of a participation agreement by GreenShift and its affiliates. The $5 million debenture was assigned to EXO Opportunity Fund LLC (“EXO”) on the same date. The participation agreement provides that, for an indefinite term, GreenShift and its subsidiaries will pay to YA Global an amount equal to 15% of all payments received by the Company from any new licensees issued in connection with its intellectual properties, including any amounts awarded in the Company’s pending and future infringement matters, net of any legal fees and expenses incurred in obtaining the settlement or award. The balance due to YA Global, including all convertible debt, was paid and satisfied in full as a result of the foregoing transactions. On the same date, GreenShift deposited $400,000 in cash into escrow in anticipation of settling an additional $2,939,000 in principal and interest due from GreenShift to various assignees of YAGI ("YAGI Assignees"). The relevant agreement provided that the YAGI Assignees had until March 31, 2016, to accept their respective share of the settlement amount. As of June 30, 2016, the Company paid a total of $379,574 to all but three of the YAGI Assignees, in settlement of about $2,914,000 in debt elimination, and a gain on extinguishment of debt of $2,551,613. The terms of the $5 million debenture assigned to EXO and the $25,000 balance due to the YA Global assignees noted above are nearly identical. Each debenture bears interest at 6% per annum, and each holder has the right, but not the obligation, to convert any portion of the debenture into GreenShift’s common stock at a rate equal to 90% of the lowest daily volume weighted average price of GreenShift’s common stock during the 20 consecutive trading days immediately preceding the conversion date. The debentures mature on December 31, 2017. The debentures also contain a “buy-in” provision in regards to potential cash-settled portion of any conversion. GreenShift accounted for the foregoing debentures in accordance with ASC 815, Derivatives and Hedging GreenShift determined the aggregate value of the YAGI Assignee debentures at December 31, 2015, to be $2,517,902 which represented the aggregate face value of the debentures of $2,263,939 plus the present value of the conversion feature. During the six months ended June 30, 2016, GreenShift negotiated settlements with ten of the YAGI Assignee debentures which resulted in a $249,753 reduction of the fair value of the conversion liability for the period. The carrying value of the YAGI Assignee debentures was $12,909 as of June 30, 2016. The present value of the liability for the conversion feature has reached its estimated settlement value of $1,432 as of June 30, 2016. Interest expense of $386 for these obligations was accrued for the six months ended June 30, 2016. The Company is prohibited under its loan agreements from issuing common shares at prices lower than those afforded to EXO in the absence of EXO’s prior consent. The EXO Debenture provides for adjustments to the conversion price to the extent that the Company issues equity at a lower price in the future. As a result, in any such event, EXO would have the right to receive common shares upon conversion of the EXO Debenture at rates equal to the relevant lower rates. A note discount of $5,000,000 and a derivative liability of $7,484,632 were recorded at the time of the assignment. The Company accounted for the EXO Debenture in accordance with 815-40, Derivatives and Hedging 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 Debentures”). Effective October 1, 2015, MIF assigned $557,500 of its convertible debt to EXO (the “EXO Debenture”). As of December 31, 2015, MIF assigned $100,000 of its balance to TRK Management LLC. During the six months ended June 30, 2016, $67,929 in principal was converted into common stock. As of June 30, 2016, the balance of the MIF Debenture was $1,439,900. During the year ended December 31, 2015, the Company issued a $400,000 convertible debt to Cantrell Winsness Technologies, LLC (“CWT” and the “CWT Debenture”) in exchange for all amounts accrued under the technology agreement and CWT’s interest in the Series F Preferred Stock. CWT shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company’s common stock at $0.001 per share. The CWT Debenture matures December 31, 2018. During the six months ended June 30, 2016, the Company paid CWT a total of $75,000. The balance of the CWT Debenture was $325,000 at June 30, 2016. 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. The Gerova Debenture matures December 31, 2018. 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 balance of the Gerova Debenture was $175,000 at June 30, 2016. Interest expense of $1,745 for these obligations was accrued for the six months ended June 30, 2016. Effective December 31, 2015, Minority Interest Fund (II), LLC assigned $100,000 of its convertible debt to TRK Management, LLC (“TRK” and the “TRK Debenture”). TRK 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 maturity date on the TRK Debenture has been extended to December 31, 2018. The balance of the TRK Debenture was $100,000 at June 30, 2016. Interest expense of $2,992 for these obligations was accrued for the six months ended June 30, 2016.

Note 8 - Guaranty Agreement

Note 8 - Guaranty Agreement	6 Months Ended
	Jun. 30, 2016
Notes
Note 8 - Guaranty Agreement	NOTE 8 GUARANTY AGREEMENT On December 31, 2015, Bitzio entered into a $2.9 million loan transaction with TCA Global Credit Master Fund, LP ("TCA"), pursuant to which Bitzio drew $2.5 million for use in its acquisition of 100,000 shares of the Company’s Series G Preferred Stock (see Note 9, Shareholders’ Equity

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2016
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, 2016 and December 31, 2015, there were 2,480,544 shares of Series B Preferred Stock issued and outstanding. SERIES G PREFERRED STOCK On December 31, 2015, GreenShift filed with the Delaware Secretary of State a Certificate of Designation of Series G Preferred Stock, designating 800,000 shares of preferred stock as Series G Preferred Stock. The Series G shares may be converted by the holder into Company common stock. The conversion ratio is such that the full 800,000 Series G shares convert into GreenShift common shares representing 80% of the fully diluted 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 G 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 G 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 G shares will receive the dividend that would be payable if the Series G shares were converted into GreenShift common shares prior to the dividend. In the event of a liquidation of GreenShift, the holders of 800,000 Series G shares will receive a preferential distribution equal to 80% of the net assets available for distribution to the shareholders. On December 31, 2015, GreenShift issued 700,000 shares of Series G Preferred Stock to a wholly-owned subsidiary of Bitzio in exchange for 862,500 shares of GreenShift’s Series D Preferred Stock, as well as the contractual right to receive an additional 124,875 Series D Shares. On the same date, Bitzio purchased an additional 100,000 Series G Shares in exchange for $2,500,000 in cash. The Series G Preferred Stock were recorded at stated value due to the fact that the transactions were between entities under common control. ASC 480, Distinguishing Liabilities from Equity Derivatives and Hedging 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, 2016 and 2015, the Company issued a total of 426,761,792 shares and 16,575,787 shares of common stock, respectively, upon conversion in period of $88,207 and $224,079, 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, 2016
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 is not a final judgment. We disagree with the court’s ruling and intend to mount a vigorous appeal at the appropriate time. In addition, a trial on the Defendants’ claims of inequitable conduct in connection with several of the asserted patents was conducted in October, 2015. We are awaiting a decision from the Court, which we expect to be issued in 2016. 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 6,000,000 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. On February 24, 2015, 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. On December 22, 2014, the court granted summary judgment as to the former subsidiary's liability for payment of the sum of $3.2 million, plus prejudgment interest and costs. The plaintiffs’ have asserted a claim for alter ego liability for that amount against the Company and the other defendants. The litigation is proceeding and 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. Effective as of December 31, 2015, the Company entered into a series of agreements providing for contingent participation payments involving use of the Company’s extraction technologies. Collectively, these agreements resulted in an aggregate of $26,720,059 in debt extinguishment for amounts that had been due, payable and accrued as of December 31, 2015, as well as a reduction in the Company’s continuing costs of sales, legal expenses and interest expense moving forward. First, the Company and YA Global Investments, L.P. ("YA Global") entered into an agreement pursuant to which the Company agreed to pay 15% of all payments received by the Company from any new licensees issued in connection with its intellectual properties, including any amounts awarded in the Company’s pending and future infringement matters, net of any legal fees and expenses incurred in obtaining the settlement or award (see Note 7, Debt Obligations On December 31, 2015, Bitzio entered into a $2.9 million loan transaction with TCA Global Credit Master Fund, LP ("TCA"), pursuant to which Bitzio drew $2.5 million for use in its acquisition of 100,000 shares of the Company’s Series G Preferred Stock (see Note 9, Shareholders’ Equity 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, 2016
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 Shareholders’ Equity Shareholders’ Equity Guaranty Agreement During the year ended December 31, 2015, the Company issued a $400,000 convertible debt to Cantrell Winsness Technologies, LLC (“CWT” and the “CWT Debenture”) in exchange for all amounts accrued under the TAA and CWT’s interest in the Series F Preferred Stock. CWT shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company’s common stock at $0.001 per share. The CWT Debenture matures December 31, 2018. CWT delivered a release in favor of the Company in respect of any and all amounts that may have been due under the Company’s Amended and Restated Technology Acquisition Agreement with CWT. The balance of the CWT Debenture was $325,000 at June 30, 2016. During the year ended December 31, 2015, and further to the Company’s stated diversification plans, the Company invested in the development of technologies and businesses that are strategically-relevant to the Company’s existing operations. 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 that 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 by GX in concert with various third parties. Under the associated agreements, an unaffiliated member of LLC has agreed to provide LLC up to $3 million to fund the continuing development of the Bioproducts Portfolio. As of December 31, 2015, the Company extended and had about $72,000 in receivables due from GFD, which amount has since been paid. As of the six months ended June 30, 2016, the Company had loaned about $30,000 to Plaid Canary Corporation (“PCC”), for use in the development of agricultural technology; about $173,000 to FLUX Carbon Mitigation Fund LLC (“FCMF”), for use in the development of energy technology and businesses; and about $881,000 to Bitzio, Inc. (“Bitzio”), for use in the development of lifestyle technology and businesses. The Company additionally paid about $337,000 in research and development costs on behalf of PCC and agricultural technology. FLUX Carbon Corporation (“FCC”) is the beneficial owner of an 80% equity interest in Bitzio, and of the majority of the stock of the companies which own PCC and FCMF. FCC is owned by Kevin Kreisler, our chairman and chief executive officer.

Note 12 - Investment in Joint V

Note 12 - Investment in Joint Venture Under The Equity Method	6 Months Ended
	Jun. 30, 2016
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 that 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 by GX 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 LLC 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 of LLC has agreed to provide LLC up to $3 million to fund the continuing development of the Bioproducts Portfolio. 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 2016, the Company had funded $1,308,660 towards operations and research and development of LLC, of which $1,206,063 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 $3,079,844 as of June 30 2016. The Company’s share of the net loss from LLC for the six months ended June 30 2016 was $280,511. SUMMARIZED UNAUDITED FINANCIAL DATA FOR LLC: 6/30/2016 Current assets $ 2,137 Intangible assets, net 3,333,333 Current liabilities 151,042 Members’ equity 3,009,900 6/30/2016 Net sales $ -- Operating expenses 477,580 Amortization expense 285,714 Net (loss) (763,294 )

Note 13 - Supplemental Disclosu

Note 13 - Supplemental Disclosure of Cash Flow Information	6 Months Ended
	Jun. 30, 2016
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, 2016 and 2015: 6/30/2016 6/30/2015 Cash paid for the following: Interest $ -- $ -- Taxes -- -- Total -- -- Non-Cash Investing and Financing Activities Debentures converted into common stock 88,207 224,079 Debenture issued in settlement of contingent liability -- 250,000 Reduction in value of conversion features of convertible debt from conversions 9,613 --

Note 14 - Restatement of Previo

Note 14 - Restatement of Previously Issued Financial Statements	6 Months Ended
	Jun. 30, 2016
Notes
Note 14 - Restatement of Previously Issued Financial Statements	NOTE 14 RESTATEMENT The Company restated its financial statements for the six months ended June 30, 2015, to correct certain accounting errors related to the recognition of the intrinsic value of beneficial conversion features found in the former agreement with Cantor Colburn LLP (see Note 10, Commitments and Contingencies Original Adjustments As Restated Balance Sheet for Six Months Ended 6/30/15: Additional paid in capital $ 126,114,118 $ 745,048 $ 126,859,166 Retained earnings (164,504,760 ) (745,048 ) (165,249,808 ) Income Statement for Three Months Ended 6/30/15: Interest expense (232,855 ) (396,787 ) (629,642 ) Net loss (2,226,279 ) (396,787 ) (2,623,066 ) Earnings per share (0.14 ) (0.03 ) (0.17 ) Earnings per share - diluted (0.14 ) (0.03 ) (0.17 ) Income Statement for Six Months Ended 6/30/15: Interest expense (455,787 ) (745,048 ) (1,200,835 ) Net loss (3,344,649 ) (745,048 ) (4,089,697 ) Earnings per share (0.22 ) (0.04 ) (0.26 ) Earnings per share - diluted (0.22 ) (0.04 ) (0.26 ) Cash Flow Statement for Six Months Ended 6/30/15: Net loss (3,344,649 ) (745,048 ) (4,089,697 ) Intrinsic value of beneficial conversion feature - 745,048 745,048

Note 1 - Basis of Presentation_

Note 1 - Basis of Presentation: References To The Company (Policies)	6 Months Ended
	Jun. 30, 2016
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 condensed balance sheet at December 31, 2015 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 condensed 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 condensed 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, 2015.

Note 1 - Basis of Presentatio21

Note 1 - Basis of Presentation: Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2016
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, 2016
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, 2016
Policies
Segment Information	SEGMENT INFORMATION We determined our reporting units in accordance with FASB ASC 280, “ Segment Reporting We have one operating segment and reporting unit. We operate in one reportable business segment; we provide technologies and related products and services to U.S.-based ethanol producers. We are organized and operated as one business. We exclusively sell our technologies, products and services to ethanol producers that have entered into license agreements with the Company. No sales of any kind occur, and no costs of sales of any kind are incurred, in the absence of a license agreement. A single management team that reports to the chief operating decision maker comprehensively manages the entire business. We do not operate any material separate lines of business or separate business entities with respect to our technologies, products and services. The Company does not accumulate discrete financial information according to the nature or structure of any specific technology, product and/or service provided to the Company’s licensees. Instead, management reviews its business as a single operating segment, using financial and other information rendered meaningful only by the fact that such information is presented and reviewed in the aggregate. Discrete financial information is not available by more than one operating segment, and disaggregation of our operating results would be impracticable.

Note 4 - Significant Accounti24

Note 4 - Significant Accounting Policies: Revenue Recognition (Policies)	6 Months Ended
	Jun. 30, 2016
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. 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. During 2016 and 2015, our percentage-of-completion methods included the efforts-expended percentage-of-completion method and the cost-to-cost method. The efforts-expended method utilizes 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 method (see below). The Company also used the cost-to-cost method which is used to determine the percentage of completion of a project based on the actual costs incurred. Earnings are recognized periodically based upon our estimate of contract revenues and costs in providing the services required under the contract. The percentage of completion method must be used in lieu of the completed contract method when all of the following are present: reasonably reliable estimates can be made of revenue and costs; the construction contract specifies the parties’ rights as to the goods, consideration to be paid and received, and the resulting terms of payment or settlement; the contract purchaser has the ability and expectation to perform all contractual duties; and the contract contractor has the same ability and expectation to perform. Under the completed contract method income is recognized only when a contract is completed or substantially completed. 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, 2016
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, 2016
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, 2016
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, 2016
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 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 2014-09, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under this amendment, management is now required to determine every interim and annual period whether conditions or events exist that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued. If management indicates that it is probable the entity will not be able to meet its obligations as they become due within the assessment period, then management must evaluate whether it is probable that plans to mitigate those factors will alleviate that substantial doubt. The guidance is effective for fiscal years, beginning after December 15, 2016. 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. ASU 2015-03 and ASU 2015-15 — In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, or ASU No. 2015-03. The amendments of ASU No. 2015-03 were issued to reduce complexity in the balance sheet presentation of debt issuance costs. ASU No. 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this standard. Additionally, in August 2015, the FASB issued ASU No. 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, or ASU No. 2015-15, as ASU No. 2015-03 did not specifically address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. ASU No. 2015-15 allows an entity to continue to defer and present debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The guidance in ASU No. 2015-03 and ASU No. 2015-15 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The Company adopted this standard at January 1, 2016, but it did not have a material effect on the accompanying financial statements. In July 2015, the FASB issued ASU-2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The amendments of ASU NO. 2015-11 were issued in an effort to change the measurement principle for inventory from the lower of cost or market to lower of cost and the net realizable value. The guidance in ASU NO. 2015-11 is effective for periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2015-11, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The new guidance establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2016-02, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-07 (Topic 323), Investments – Equity Method and Joint Ventures. The new guidance eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The guidance is effective for fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2016-07, but does not anticipate that it will have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-09 (Topic 718), Improvements to Employee Share-Based Payment Accounting. The new guidance will change how companies account for certain aspects of share-based payments to employees. The Company will be required to recognize the income tax effects of awards in the income statement when the awards vest or are settled (i.e., additional paid-in capital or APIC pools will be eliminated). The guidance is effective for fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the possible impact of ASU 2016-09, 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, 2016
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, 2016
Tables/Schedules
Fair Value, Liabilities Measured on Recurring Basis	Balance of embedded derivatives at March 31, 2016 : Level 1 $ -- Level 2 -- Level 3 6,830,793 Total $ 6,830,793

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, 2016
Tables/Schedules
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	Balance of embedded derivatives at December 31, 2015 $ 7,148,016 Decrease in fair value of derivatives (54,523 ) Reductions in fair value due to repayments/redemptions (253,087 ) Reductions in fair value due to principal conversions (9,613 ) Balance at June 30, 2016 $ 6,830,793

Note 7 - Debt Obligations_ Sche

Note 7 - Debt Obligations: Schedule of Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Tables/Schedules
Schedule of Debt	6/30/2016 Current portion of convertible debentures David Moran & Siobhan Hughes, 6% interest, conversion at 90% of market $ 2,399 Susan Schneider, 6% interest, conversions at 90% of market 10,510 Minority Interest Fund (II), LLC, 6% interest, no conversion discount 1,439,900 Related Party Debenture, 6% interest, no conversion discount 27,532 Total current portion of convertible debentures $ 1,480,341, 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 219,717 Cantrell Winsness Technologies, LLC, 2% interest, conversion at 100% of market 325,000 TRK Management LLC, 6% interest, no conversion discount 100,000 EXO Opportunity Fund, LLC, 6% interest, conversion at 90% of market 4,500,000 Note discount (3,379,617 ) Total long term convertible debentures $ 1,940,100

Note 7 - Debt Obligations_ Sc33

Note 7 - Debt Obligations: Schedule of minimum payments under current and long term obligations (Tables)	6 Months Ended
	Jun. 30, 2016
Tables/Schedules
Schedule of minimum payments under current and long term obligations	Year Amount 2016 $ 1,480,341 2017 4,625,000 2018 694,717 2019 -- 2020 -- Thereafter -- Total minimum payments due under current and long term obligations $ 6,800,058

Note 12 - Investment in Joint34

Note 12 - Investment in Joint Venture Under The Equity Method: Equity Method Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Tables/Schedules
Equity Method Investments	6/30/2016 Current assets $ 2,137 Intangible assets, net 3,333,333 Current liabilities 151,042 Members’ equity 3,009,900 6/30/2016 Net sales $ -- Operating expenses 477,580 Amortization expense 285,714 Net (loss) (763,294 )

Note 13 - Supplemental Disclo35

Note 13 - Supplemental Disclosure of Cash Flow Information: Schedule of Cash Flow, Supplemental Disclosures (Tables)	6 Months Ended
	Jun. 30, 2016
Tables/Schedules
Schedule of Cash Flow, Supplemental Disclosures	6/30/2016 6/30/2015 Cash paid for the following: Interest $ -- $ -- Taxes -- -- Total -- -- Non-Cash Investing and Financing Activities Debentures converted into common stock 88,207 224,079 Debenture issued in settlement of contingent liability -- 250,000 Reduction in value of conversion features of convertible debt from conversions 9,613 --

Note 14 - Restatement of Prev36

Note 14 - Restatement of Previously Issued Financial Statements: Restatement to Prior Year Income (Tables)	6 Months Ended
	Jun. 30, 2016
Tables/Schedules
Restatement to Prior Year Income	Original Adjustments As Restated Balance Sheet for Six Months Ended 6/30/15: Additional paid in capital $ 126,114,118 $ 745,048 $ 126,859,166 Retained earnings (164,504,760 ) (745,048 ) (165,249,808 ) Income Statement for Three Months Ended 6/30/15: Interest expense (232,855 ) (396,787 ) (629,642 ) Net loss (2,226,279 ) (396,787 ) (2,623,066 ) Earnings per share (0.14 ) (0.03 ) (0.17 ) Earnings per share - diluted (0.14 ) (0.03 ) (0.17 ) Income Statement for Six Months Ended 6/30/15: Interest expense (455,787 ) (745,048 ) (1,200,835 ) Net loss (3,344,649 ) (745,048 ) (4,089,697 ) Earnings per share (0.22 ) (0.04 ) (0.26 ) Earnings per share - diluted (0.22 ) (0.04 ) (0.26 ) Cash Flow Statement for Six Months Ended 6/30/15: Net loss (3,344,649 ) (745,048 ) (4,089,697 ) Intrinsic value of beneficial conversion feature - 745,048 745,048

Note 2 - Description of Busin37

Note 2 - Description of Business (Details)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Details
Concentration Risk, Customer	four customers each provided over 10% of our revenue and 73% of total revenue in the aggregate	four customers each provided over 10% of our revenue, including two customers that accounted for more than 50% of sales

Note 3 - Going Concern (Details

Note 3 - Going Concern (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Details
Income (loss) from operations	$ 385,557	$ (1,203,404)	$ 476,507	$ (2,071,894)
Cash	$ 992,865	$ 158,934	$ 992,865	$ 158,934	$ 1,877,991	$ 587,021

Note 5 - Fair Value Disclosur39

Note 5 - Fair Value Disclosures: Fair Value, Liabilities Measured on Recurring Basis (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Derivative liabilities	$ 6,830,793	$ 7,148,016
Fair Value, Inputs, Level 3
Derivative liabilities	$ 6,830,793

Note 5 - Fair Value Disclosur40

Note 5 - Fair Value Disclosures: Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Details
Derivative liabilities	$ 6,830,793	$ 7,148,016
Increase in fair value of derivatives	(54,523)
Reductions in fair value due to repayments/redemptions	(253,087)
Reductions in fair value due to principal conversions	$ (9,613)

Note 6 - Inventories (Details)

Note 6 - Inventories (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Details
Inventories, net	$ 316,500	$ 455,000

Note 7 - Debt Obligations_ Sc42

Note 7 - Debt Obligations: Schedule of Debt (Details) - USD ($)		Jun. 30, 2016	Dec. 31, 2015
Current portion of convertible debentures, net		$ 1,480,341
Convertible debentures		1,615,100	$ 400,586
Debt Instrument, Unamortized Discount		(3,379,617)
Convertible Debt		1,940,100
MinorityInterestFundIILLCMember
Current portion of convertible debentures, net	[1]	1,439,900
David Moran & Siobhan Hughes
Current portion of convertible debentures, net	[2]	2,399
Susan Schneider
Current portion of convertible debentures, net	[2]	10,510
Related Party Debenture
Current portion of convertible debentures, net	[1]	27,532
Gerova Debenture
Convertible debentures		175,000
Long Side Ventures
Convertible debentures		219,717
Cantrell Winsness Technologies LLC
Convertible debentures		325,000
TRK Management LLC
Convertible debentures	[1]	100,000
EXO Opportunity Fund
Convertible debentures		$ 4,500,000
[1]	6% interest, no conversion discount.
[2]	6% interest, conversion at 90% of market.

Note 7 - Debt Obligations (Deta

Note 7 - Debt Obligations (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2012	Dec. 31, 2010
Principal convertible to common stock	$ 6,800,058		$ 6,800,058
Interest Expense	73,173	$ 629,642	162,888	$ 1,200,835
Debt discount from the recognition of the derivative liability			5,000,000
Debt Instrument, Unamortized Discount	3,379,617		$ 3,379,617
A And R Debenture
Debt Instrument, Interest Rate During Period			6.00%
Aggregate Value					$ 2,517,902
Debt Instrument, Face Amount					$ 2,263,939
AssigneeDebenturesMember
Represents the monetary amount of CarryingValueOfDebenture, as of the indicated date.	12,909		$ 12,909
Estimated Settlement Value of Debenture	1,432		1,432
Interest Expense			386
MIF Debenture
Debt Instrument, Face Amount							$ 3,988,326
EXO Opportunity Fund
MIF Debenture assigned to EXO Debenture					557,500
TRK Management LLC
Debt Instrument, Face Amount					$ 100,000
Interest Expense			2,992
Minority Interest Fund assigned to TRK Debenture					100,000
Cantrell Winsness Technologies LLC
Debt Instrument, Face Amount					$ 400,000
Gerova Debenture
Debt Instrument, Face Amount	$ 175,000		175,000			$ 175,000
Interest Expense			$ 1,745
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.

Note 7 - Debt Obligations_ Sc44

Note 7 - Debt Obligations: Schedule of minimum payments under current and long term obligations (Details)	Jun. 30, 2016USD ($)
Minimum payments due under current and long term obligations	$ 6,800,058
N2016Member
Minimum payments due under current and long term obligations	1,480,341
N2017Member
Minimum payments due under current and long term obligations	4,625,000
N2018Member
Minimum payments due under current and long term obligations	$ 694,717

Note 9 - Stockholders' Equity_

Note 9 - Stockholders' Equity: Series B Preferred Stock (Details) - Class B Preferred Stock - shares	Jun. 30, 2016	Dec. 31, 2015
Convertible preferred stock shares outstanding		2,480,544
Convertible preferred stock shares issued	2,480,544

Note 9 - Stockholders' Equity46

Note 9 - Stockholders' Equity: Series G Preferred Stock (Details)	6 Months Ended
	Jun. 30, 2016USD ($)shares
Represents the monetary amount of ExchangeOfSeriesDForSeriesGPreferredStock, during the indicated time period. | $	$ 2,500,000
Series G Preferred Stock
Represents the ExchangeOfSeriesDForSeriesGPreferredStockShares (number of shares), during the indicated time period. | shares	800,000

Note 9 - Stockholders' Equity47

Note 9 - Stockholders' Equity: Common Stock (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
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	426,761,792	16,575,787
Shares converted to Common Stock, Value	$ 88,207	$ 224,079

Note 10 - Commitments and Con48

Note 10 - Commitments and Contingencies (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2014
Gain (loss) on extinguishment of debt	$ 125,109	$ 6,350	$ 2,676,722	$ 21,598
Insurance Deductible			2,500
Insurance Policy Limit per Occurrence			1,000,000
Insurance Policy Limit aggregate			2,000,000
YA Global
Extinguishment of Debt, Amount			26,720,059
Gain (loss) on extinguishment of debt			8,433,388
Max v. GS AgriFuels Corp
Loss Contingency, Damages Sought, Value			6,000,000
LongSideVenturesLlcVGreenshiftEtAlMember
Loss Contingency, Damages Sought, Value			250,000
Long Side Ventures and Sunny Isles Ventures, LLC v. GreenShift
Litigation Settlement, Amount					$ 400,000
Golden Technology Management, LLC, et al v. NextGen Acquisition, Inc. et al
Loss Contingency, Damages Sought, Value			$ 5,200,000

Note 11 - Related Party Trans49

Note 11 - Related Party Transactions (Details)	6 Months Ended
	Jun. 30, 2016
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 Joint50

Note 12 - Investment in Joint Venture Under The Equity Method (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Details
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 1,308,660
Minority investment in subsidiary	3,079,844		$ 3,360,355
Equity losses from investee	$ 280,511	$ 161,471

Note 12 - Investment in Joint51

Note 12 - Investment in Joint Venture Under The Equity Method: Equity Method Investments (Details)	6 Months Ended
	Jun. 30, 2016USD ($)
Details
Current assets	$ 2,137
Intangible assets, net	3,333,333
Current liabilities	151,042
Members' Equity	3,009,900
Operating expenses	477,580
Amortization expense	285,714
Net (loss)	$ (763,294)

Note 13 - Supplemental Disclo52

Note 13 - Supplemental Disclosure of Cash Flow Information: Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Details
Debentures converted into common stock	$ 88,207	$ 224,079
Reduction in value of conversion features of convertible debt from conversions	$ 9,613

Note 14 - Restatement of Prev53

Note 14 - Restatement of Previously Issued Financial Statements: Restatement to Prior Year Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Additional paid in capital	$ 138,107,621	$ 126,859,166	$ 138,107,621	$ 126,859,166	$ 137,975,673
Accumulated deficit	(144,611,213)	(165,249,808)	(144,611,213)	(165,249,808)	$ (146,387,595)
Interest Expense, Debt		(629,642)		(1,200,835)
Net income (loss)	$ 3,216,697	$ (2,623,066)	$ 1,776,382	$ (4,089,697)
Income (loss) from continuing operations - basic	$ 0.01	$ (0.17)	$ 0	$ (0.26)
Income (loss) from continuing operations - diluted	$ 0	$ (0.17)	$ 0	$ (0.26)
Recognition of intrinsic value of beneficial conversion feature				$ 745,048
Scenario, Previously Reported
Additional paid in capital		$ 126,114,118		126,114,118
Accumulated deficit		(164,504,760)		(164,504,760)
Interest Expense, Debt		(232,855)		(455,787)
Net income (loss)		$ (2,226,279)		$ (3,344,649)
Income (loss) from continuing operations - basic		$ (0.14)		$ (0.22)
Income (loss) from continuing operations - diluted		$ (0.14)		$ (0.22)
Restatement Adjustment
Additional paid in capital		$ 745,048		$ 745,048
Accumulated deficit		(745,048)		(745,048)
Interest Expense, Debt		(396,787)		(745,048)
Net income (loss)		$ (396,787)		$ (745,048)
Income (loss) from continuing operations - basic		$ (0.03)		$ (0.04)
Income (loss) from continuing operations - diluted		$ (0.03)		$ (0.04)
Recognition of intrinsic value of beneficial conversion feature				$ 745,048