GSRX Industries (GSRX) 10-Q/A25 Oct 182018 Q2 Quarterly report (amended)Financial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Oct. 25, 2018
Document And Entity Information
Entity Registrant Name	GSRX INDUSTRIES INC.
Entity Central Index Key	1,381,240
Document Type	10-Q/A
Document Period End Date	Jun. 30, 2018
Amendment Flag	true
Amendment Description	GSRX Industries Inc., formerly Green Spirit Industries Inc. (the “Company”), is filing this Amendment No. 1 on Form 10-Q/A (this “Amendment No. 1”) amends and restated in its entirety the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2018 as originally filed with the Securities and Exchange Commission (the “Commission”) on July 12, 2018 (the “Original Filing”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Amendment No. 1 amends the Original Filing to reflect a restatement of the Company’s financial statements for the three and six months ended June 30, 2018, to correct various account balances as summarized below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The restatements are being made in accordance with ASC 250, “Accounting Changes and Error Corrections.” The disclosure provision of ASC 250 requires a company that corrects an error to disclose that its previously issued financial statements have been restated, a description of the nature of the error, the effect of the correction on each financial statement line item and any per share amount affected for each prior period presented, and the cumulative effect on retained (deficit) in the consolidated balance sheets as of the beginning of each period presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The effects of the adjustments on the Company’s previously issued unaudited financial statements are summarized as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Selected Unaudited Consolidated Balance Sheets Information as of June 30, 2018</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Previously</b></font></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Net</b></font></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Reported</b></font></td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Change</b></font></td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Restated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 55%; text-align: justify"><font style="font-size: 10pt">Common stock</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">43,668</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">417</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">44,085</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Additional paid-in capital</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">44,756,665</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">2,152,333</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">46,908,998</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Retained deficit</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(35,922,101</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(38,074,851</font></td> <td><font style="font-size: 10pt">)</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Selected Unaudited Consolidated Statements of Operations for the three months ended June 30, 2018</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Three months ended June 30, 2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Previously</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Reported</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Net Change</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Restated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 55%; text-align: justify"><font style="font-size: 10pt">Stock based compensation-consulting fee</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,152,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,155,500</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,503,488</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,656,238</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations before provision for income taxes</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,494,903</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,647,653</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,494,903</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,647,653</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss attributable to GSRX Industries Inc.</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,330,951</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,483,701</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Basic loss per share</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.03</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.05</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.08</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Weighted average number of common shares outstanding</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">42,946,004</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">204,482</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">43,150,486</font></td> <td> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Selected Unaudited Consolidated Statements of Operations for the six months ended June 30, 2018</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Six months ended June 30, 2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Previously</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Reported</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Net Change</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Restated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 55%; text-align: justify"><font style="font-size: 10pt">Stock based compensation-consulting fee</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">7,297,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,152,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">9,450,500</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(10,012,196</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(12,164,946</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations before provision for income taxes</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(10,003,611</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(12,156,361</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(10,003,611</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(12,156,361</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss attributable to GSRX Industries Inc.</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(9,839,141</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(11,991,891</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Basic loss per share</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.23</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.05</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.28</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Weighted average number of common shares outstanding</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">42,143,764</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">102,807</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">42,246,571</font></td> <td> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s Board of Directors authorized the issuance of common shares as compensation to consultants, related parties and members of the board for services rendered during the second quarter ended June 30, 2018 which were not reflected in the financial statements for the period ended June 30, 2018. The authorized shares were not issued until September 4, 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board authorized 215,000 of common shares which had a fair value of $1,193,250 on April 27, 2018. The Board authorized 202,000 shares of common shares which had a fair value of $959,500 on June 6, 2018. The total value of the shares authorized, but not issued is $2,152,750. The shares issued increase the net loss for the three and six months ended June 30, 2018 by $2,152,750. The financial statements are being restated to reflect this change.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For ease of reference, revisions to the Original Filing have been made to the following sections:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><font style="font-size: 10pt">●</font></td> <td style="text-align: justify"><font style="font-size: 10pt">Part I, Item 1 – Financial Statements (and Notes to Unaudited Consolidated Financial Statements)</font></td></tr> <tr style="vertical-align: top"> <td> </td> <td><font style="font-size: 10pt">●</font></td> <td style="text-align: justify"><font style="font-size: 10pt">Part I, Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the Company’s Chief Executive Officer and Chief Financial Officer have provided new certifications dated as of the date of this filing in connection with this Amendment No. 1 (Exhibits 31.1, 31.2 and 32.1), and the Company has provided its revised audited consolidated financial statements formatted in Extensible Business Reporting Language (XBRL) in Exhibit 101.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as provided in this explanatory note, or as indicated in the applicable disclosure, this Amendment No. 1 has not been updated to reflect other events occurring after the filing of the Original Filing and does not modify or update information and disclosures in the Original Filing affected by subsequent events. Accordingly, this Amendment No. 1 should be read in conjunction with our filings with the Commission subsequent to the date on which we filed the Original Filing, together with any amendments to those filings.</p>" id="sjs-B9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">GSRX Industries Inc., formerly Green Spirit Industries Inc. (the “Company”), is filing this Amendment No. 1 on Form 10-Q/A (this “Amendment No. 1”) amends and restated in its entirety the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2018 as originally filed with the Securities and Exchange Commission (the “Commission”) on July 12, 2018 (the “Original Filing”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Amendment No. 1 amends the Original Filing to reflect a restatement of the Company’s financial statements for the three and six months ended June 30, 2018, to correct various account balances as summarized below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The restatements are being made in accordance with ASC 250, “Accounting Changes and Error Corrections.” The disclosure provision of ASC 250 requires a company that corrects an error to disclose that its previously issued financial statements have been restated, a description of the nature of the error, the effect of the correction on each financial statement line item and any per share amount affected for each prior period presented, and the cumulative effect on retained (deficit) in the consolidated balance sheets as of the beginning of each period presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The effects of the adjustments on the Company’s previously issued unaudited financial statements are summarized as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Selected Unaudited Consolidated Balance Sheets Information as of June 30, 2018</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Previously</b></font></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Net</b></font></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Reported</b></font></td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Change</b></font></td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Restated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 55%; text-align: justify"><font style="font-size: 10pt">Common stock</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">43,668</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">417</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">44,085</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Additional paid-in capital</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">44,756,665</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">2,152,333</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">46,908,998</font></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Retained deficit</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(35,922,101</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(38,074,851</font></td> <td><font style="font-size: 10pt">)</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Selected Unaudited Consolidated Statements of Operations for the three months ended June 30, 2018</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Three months ended June 30, 2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Previously</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Reported</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Net Change</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Restated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 55%; text-align: justify"><font style="font-size: 10pt">Stock based compensation-consulting fee</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,152,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,155,500</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,503,488</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,656,238</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations before provision for income taxes</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,494,903</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,647,653</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,494,903</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,647,653</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss attributable to GSRX Industries Inc.</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(1,330,951</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(3,483,701</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Basic loss per share</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.03</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.05</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.08</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Weighted average number of common shares outstanding</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">42,946,004</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">204,482</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">43,150,486</font></td> <td> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Selected Unaudited Consolidated Statements of Operations for the six months ended June 30, 2018</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Six months ended June 30, 2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Previously</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Reported</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Net Change</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 10pt"><b>Restated</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 55%; text-align: justify"><font style="font-size: 10pt">Stock based compensation-consulting fee</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">7,297,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">2,152,750</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 12%; text-align: right"><font style="font-size: 10pt">9,450,500</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(10,012,196</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(12,164,946</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Loss from operations before provision for income taxes</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(10,003,611</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(12,156,361</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(10,003,611</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(12,156,361</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Net loss attributable to GSRX Industries Inc.</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(9,839,141</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(2,152,750</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(11,991,891</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Basic loss per share</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.23</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.05</font></td> <td><font style="font-size: 10pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">(.28</font></td> <td><font style="font-size: 10pt">)</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Weighted average number of common shares outstanding</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">42,143,764</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">102,807</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 10pt">42,246,571</font></td> <td> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s Board of Directors authorized the issuance of common shares as compensation to consultants, related parties and members of the board for services rendered during the second quarter ended June 30, 2018 which were not reflected in the financial statements for the period ended June 30, 2018. The authorized shares were not issued until September 4, 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board authorized 215,000 of common shares which had a fair value of $1,193,250 on April 27, 2018. The Board authorized 202,000 shares of common shares which had a fair value of $959,500 on June 6, 2018. The total value of the shares authorized, but not issued is $2,152,750. The shares issued increase the net loss for the three and six months ended June 30, 2018 by $2,152,750. The financial statements are being restated to reflect this change.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For ease of reference, revisions to the Original Filing have been made to the following sections:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><font style="font-size: 10pt">●</font></td> <td style="text-align: justify"><font style="font-size: 10pt">Part I, Item 1 – Financial Statements (and Notes to Unaudited Consolidated Financial Statements)</font></td></tr> <tr style="vertical-align: top"> <td> </td> <td><font style="font-size: 10pt">●</font></td> <td style="text-align: justify"><font style="font-size: 10pt">Part I, Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the Company’s Chief Executive Officer and Chief Financial Officer have provided new certifications dated as of the date of this filing in connection with this Amendment No. 1 (Exhibits 31.1, 31.2 and 32.1), and the Company has provided its revised audited consolidated financial statements formatted in Extensible Business Reporting Language (XBRL) in Exhibit 101.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as provided in this explanatory note, or as indicated in the applicable disclosure, this Amendment No. 1 has not been updated to reflect other events occurring after the filing of the Original Filing and does not modify or update information and disclosures in the Original Filing affected by subsequent events. Accordingly, this Amendment No. 1 should be read in conjunction with our filings with the Commission subsequent to the date on which we filed the Original Filing, together with any amendments to those filings.</p>
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		45,211,044
Trading Symbol	GSRX
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current Assets
Cash	$ 782,208	$ 4,645
Cash, held in escrow	3,344,553	6,753,373
Accounts Receivable	97,993
Inventory	300,166
Prepaid Expenses	93,297	20,650
Total Current Assets	4,618,217	6,778,668
Fixed Assets
Furniture, fixtures and equipment	255,766
Building and leasehold improvements	1,878,475
Accumulated Depreciation	(22,961)
Total Net Fixed Assets	2,111,280
Other Assets
Licenses (Note 6)	812,300	503,000
Deposits	280,200	7,300
Patent Application Costs	1,522,023
Construction in progress (Note 7)	282,678	241,627
Total Other Assets	2,897,201	751,927
Total Assets	9,626,698	7,530,595
Current Liabilities
Accounts Payable	216,689	222,515
Accrued Expenses	29,613
Advances Payable	2,522	1,000
Total Current Liabilities	248,824	223,515
Total Liabilities	248,824	223,515
Commitments and Contingencies (Note 10)
Stockholders' Equity (Note 4)
Preferred Stock, convertible, $.001 par value; 1,000 shares authorized; 1,000 issued and outstanding as of June 30, 2018 and December 31, 2017, respectively	1	1
Common Stock $.001 par value 100,000,000 authorized; 43,476,758 and 40,817,870 issued and outstanding and 190,000 and 77,167 held in escrow and not issued; 417,000 and 0 authorized and not issued as of June 30, 2018 and December 31, 2017, respectively	44,085	40,895
Joint venture equity
Additional paid-in capital	46,908,998	33,349,144
Retained deficit	(38,074,851)	(26,082,960)
Equity attributable to Green Spirit Industries Inc.	8,878,233	7,307,080
Non-controlling interest	499,641
Total Stockholders' Equity	9,377,874	7,307,080
Total Liabilities and Stockholders' Equity	$ 9,626,698	$ 7,530,595

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	1,000	1,000
Preferred stock, shares outstanding	1,000	1,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	43,476,758	40,817,870
Common stock, shares outstanding	43,476,758	40,817,870
Number shares held in escrow	190,000	77,167
Number shares authorized but not issued	417,000	0

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Operations (Unaudited) - USD ($)	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues
Revenues	$ 353,430		$ 355,626
Cost of Goods Sold	200,357		201,178
Gross Profit	153,073		154,448
Operating expenses
Consulting Fees	357,990	30,000	674,823	30,000
General and administrative	1,138,396	20,965	1,544,233	20,965
Professional Fees	134,464	56,250	326,877	56,250
Depreciation Expense	22,961		22,961
Stock based compensation (Note 4)
Consulting fees	2,155,500	1,069,600	9,450,500	1,069,600
Investor relations		991,000	300,000	991,000
Professional fees		1,129,400		1,129,400
Total Stock based compensation	2,155,500	3,190,000	9,750,500	3,190,000
Toal Operating Expenses	3,809,311	3,297,215	12,319,394	3,297,215
Loss from operations	(3,656,238)	(3,297,215)	(12,164,946)	(3,297,215)
Other Income (Expenses)
Rent Income	8,585		8,585
Total Other Income (Expenses)	8,585		8,585
Loss from operations before provision for income taxes	(3,647,653)	(3,297,215)	(12,156,361)	(3,297,215)
Provision for income taxes (Note 5)
Net loss	(3,647,653)	(3,297,215)	(12,156,361)	(3,297,215)
Net loss attributable to non-controlling interest	(163,952)		(164,470)
Net loss attributable to Green Spirit Industries Inc.	$ (3,483,701)	$ (3,297,215)	$ (11,991,891)	$ (3,297,215)
Basic loss per share	$ (0.08)	$ (0.20)	$ (0.28)	$ (0.39)
Weighted average number of common shares outstanding	43,150,486	16,595,057	42,246,571	8,466,462

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2018 - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Deficit [Member]	Non-Controlling Interest [Member]	Total
Balance at Dec. 31, 2017	$ 1	$ 40,895	$ 33,349,144	$ (26,082,960)		$ 7,307,080
Balance, shares at Dec. 31, 2017	1,000	40,895,037
Issuance of shares and warrants for cash		$ 155	465,345			465,500
Issuance of shares and warrants for cash, shares		155,167
Issuance of shares for cash		$ 739	2,584,026			$ 2,584,765
Issuance of shares for cash, shares		738,504				2,152,750
Issuance of shares for services		$ 1,906	9,748,594			$ 9,750,500
Issuance of shares for services, shares		1,905,050
Shares purchased, not issued as of statement date		$ 190	474,810			475,000
Shares purchased, not issued as of statement date, shares		190,000
Shares issued for purchase of patents		$ 200	949,800			950,000
Shares issued for purchase of patents, shares		200,000
Purchase of Spirulinex, LLC joint venture interest			(662,721)		662,721
Capital contributed by minority joint venturers					1,390	1,390
Net loss				(11,991,891)	(164,470)	(12,156,361)
Balance at Jun. 30, 2018	$ 1	$ 44,085	$ 46,908,998	$ (38,074,851)	$ 499,641	$ 9,377,874
Balance, shares at Jun. 30, 2018	1,000	44,083,758

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows (Unaudited) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Cash Flow from Operating Activities
Net loss	$ (12,156,361)	$ (3,297,215)
Adjustments to Reconcile Net Loss to Net Cash used in Operating Activities
Issuance of common stock for services	9,750,500	3,190,000
Depreciation Expense	22,961
Changes in operating assets and liabilities:
Accounts Receivable	(97,993)
Inventory	(300,166)
Prepaid Expenses	(72,647)	(17,500)
Accounts Payable	(5,826)	4,750
Accrued Expenses	29,613
Advances Payable	1,522	1,000
Net cash (used in) provided by operating activities	(2,828,397)	(118,965)
Cash Flow from Investing Activities
Deposit	(272,900)	(150,000)
Fixed Assets	(2,134,241)
Licenses	(309,300)
Patent Application Costs	(572,023)
Construction in Progress	(41,051)	(63,747)
Net cash used in investing activities	(3,329,515)	(213,747)
Cash Flow from Financing Activities
Issuance of common stock	3,525,265	3,300,000
Cash contributed by minority joint venturers	1,390
Capitalization of subsidiary for prepaid expenses		1,000
Advances payable, related party		150,000
Advances Payable, related party		(150,000)
Net cash provided by financing activities	3,526,655	3,301,000
Net increase (decrease) in cash	(2,631,257)	2,968,288
Cash at beginning of period	6,758,018
Cash at end of period	4,126,761	2,968,288
Supplemental Disclosures of Cash Flow Information
Interest
Income Taxes
Non-cash: Shares issued for patent application costs	$ 950,000

Nature of Operations

Nature of Operations	6 Months Ended
Nature of Operations	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations GSRX Industries Inc., formerly Green Spirit Industries Inc. (“the Company”), is a Nevada corporation formed under the name Cyberspace Vita, Inc. (“Cyberspace”) on November 7, 2006. Cyberspace’s initial business plan was related to the online sale of vitamins and supplements. On May 11, 2017, the Company entered into a share exchange agreement (the “Exchange Agreement”) with Peter Zachariou, the majority shareholder of Cyberspace (the “Shareholder”), Project 1493, LLC, a limited liability company organized under the laws of the Commonwealth of Puerto Rico (“1493”), and Peach Management, LLC (“Peach”) the sole member of 1493 (the “Member”), pursuant to which the Member transferred all of the outstanding membership interests of 1493 to the Company in exchange for 16,690,912 restricted shares of common stock of the Company (the “Exchange Shares”), warrants to purchase up to 3,000,000 shares of common stock at an exercise price of $0.50 per share for a period of three (3) years from the date of issuance (the “Exchange Warrants”) and 1,000 shares of Series A Preferred Stock that grants the holders thereof fifty-one percent (51%) voting power (the “Preferred Shares” and together with the Exchange Shares, and the Exchange Warrants, the “Exchange Securities”). As a result of the Exchange Agreement, 1493 became a wholly-owned subsidiary of the Company, and the business of 1493 became the business of the Company. At the time of the Exchange Agreement, Cyberspace was not engaged in any business activity. The Company accounted for the acquisition of 1493 as a reverse merger and all prior periods presented are those of 1493. On June 21, 2018, the Board of Directors of the Company unanimously adopted amended and restated Bylaws of the Company (the “Amended and Restated Bylaws”), to, among other things, conform certain provisions of the Amended and Restated Bylaws to the Company’s Amended Articles of Incorporation and the Nevada Revised Statutes, as well as to revise the procedures relating to action by written consent of the Company’s stockholders. On June 22, 2018 the Board of Directors approved the resolution to change the name of the Corporation to “GSRX Industries Inc.” in order to reflect the nature of the corporation. The name change became effective on July 16, 2018. Project 1493, LLC (“1493”) was organized under the laws of the Commonwealth of Puerto Rico on March 17, 2017. The Company was formerly known as Grey Finland Advisors, LLC (“Grey”), which was organized under the laws of the Commonwealth of Puerto Rico on March 24, 2011, and has had no operations since that time. 1493 filed a Certificate of Restoration on March 17, 2017 and elected to change its name to Project 1493, LLC. Andalucia 511, LLC (“511”) was organized under the laws of the Commonwealth of Puerto Rico on March 19, 2018. 511 was formed for the purpose of purchasing the building at 51 McLeary, San Juan, Puerto Rico. Spirulinex, LLC (“Spirulinex”) was organized under the laws of the State of California on October 12, 2017and had no operations since its inception. On March 3, 2018, the Company entered into an operating agreement with Solunas Aqua Corp., a California corporation (“Solunas”). Spirulinex was formed as a joint venture between the Company and Solunas (the “Joint Venture”) for the purpose of carrying out the manufacturing cannabis and cannabinoid products for distribution in the State of California. Sunset Connect Oakland, LLC (“Sunset”) was organized under the laws of the State of California on December 13, 2017 and had no operations since its inception. On March 26, 2018, the Company entered into an operating agreement with Sunset Connect SF, Inc. (formerly Happy VA Corp.), a California corporation (“Happy”). Sunset was formed as a joint venture between the Company and Happy for the purpose of carrying out the growing of cannabis for distribution in the State of California. Green Spirit Essentials, LLC (“GS Essentials”) was organized under the laws of the State of California on December 12, 2017 and had no operations since its inception. On March 26, 2018, the Company entered into an operating agreement with Sunset Connect SF, Inc. (formerly Happy VA Corp.), a California corporation (“Happy”). Sunset was formed as a joint venture between the Company and Happy for the purpose of carrying out the extraction of cannabis oils for distribution in the State of California. Green Spirit Mendocino, LLC (“Mendocino”) was organized under the laws of the State of California on December 8, 2017 and had no operations since inception. The Company entered into an operating agreement with Mendocino on March 26, 2018. The Company is the sole member of Mendocino. On March 7, 2018, Mendocino entered into an asset purchase agreement with a third-party seller, pursuant to which Mendocino acquired all of the assets relating to a retail cannabis business in Point Arena, Mendocino County, California for total cash consideration of $350,000. Mendocino began operations on April 2, 2018. 138 Main Street PA, LLC (“138 Main”) was organized under the laws of the State of California on March 16, 2018. 138 Main was formed for the purpose of purchasing the building at 138 Main Street, Point Arena, California. The closing of the purchase was on May 22, 2018. 138 Main will lease the building to Green Spirit Mendocino for $1,200 per month. GSRX SUSPES, LLC (“SUSPES”) was organized under the laws of the State of California on April 3, 2018. SUSPES was formed for the purpose of payroll management for the operations in California. The Company is in the business of acquiring, developing and operating medical cannabis dispensaries throughout Puerto Rico and cannabis related businesses in California. To date, the Company has acquired a ll of the legal rights, permits, licenses, leasing contracts and assets of pre-qualified medical cannabis dispensaries pursuant to three Final Purchasing Agreements (“FPA”). The cities and purchase price of FPA for the dispensaries are as follows: Fajardo $ 100,000 Carolina 100,000 Dorado 100,000 San Juan 75,000 Hato Rey 128,000 Total $ 503,000 The FPA’s have an indefinite life, therefore are not being amortized. (Note 7). The Company began operations of one dispensary in Puerto Rico on March 28, 2018, two dispensaries on June 1, 2018 and one dispensary in Point Arena, California on April 2, 2018.

Restatement of the Consolidated

Restatement of the Consolidated Financial Statements	6 Months Ended
Restatement of the Consolidated Financial Statements	Jun. 30, 2018
Restatement Of Consolidated Financial Statements
Restatement of the Consolidated Financial Statements	2. Restatement of the Consolidated Financial Statements The restatements are being made in accordance with ASC 250, “Accounting Changes and Error Corrections.” The disclosure provision of ASC 250 requires a company that corrects an error to disclose that its previously issued financial statements have been restated, a description of the nature of the error, the effect of the correction on each financial statement line item and any per share amount affected for each prior period presented, and the cumulative effect on retained (deficit) in the consolidated balance sheets as of the beginning of each period presented. The effects of the adjustments on the Company’s previously issued unaudited financial statements are summarized as follows: Selected Unaudited Consolidated Balance Sheets Information as of June 30, 2018 Previously Reported Net Change Restated Common stock 43,668 417 44,085 Additional paid-in capital 44,756,665 2,152,333 46,908,998 Retained deficit (35,922,101 ) (2,152,750 ) (38,074,851 ) Selected Unaudited Consolidated Statements of Operations for the three months ended June 30, 2018 Three months ended June 30, 2018 Previously Reported Net Change Restated Stock based compensation-consulting fee 2,750 2,152,750 2,155,500 Loss from operations (1,503,488 ) (2,152,750 ) (3,656,238 ) Loss from operations before provision for income taxes (1,494,903 ) (2,152,750 ) (3,647,653 ) Net loss (1,494,903 ) (2,152,750 ) (3,647,653 ) Net loss attributable to GSRX Industries Inc. (1,330,951 ) (2,152,750 ) (3,483,701 ) Basic loss per share (.03 ) (.05 ) (.08 ) Weighted average number of common shares outstanding 42,946,004 204,482 43,150,486 Selected Unaudited Consolidated Statements of Operations for the six months ended June 30, 2018 Six months ended June 30, 2018 Previously Reported Net Change Restated Stock based compensation-consulting fee 7,297,750 2,152,750 9,450,500 Loss from operations (10,012,196 ) (2,152,750 ) (12,164,946 ) Loss from operations before provision for income taxes (10,003,611 ) (2,152,750 ) (12,156,361 ) Net loss (10,003,611 ) (2,152,750 ) (12,156,361 ) Net loss attributable to GSRX Industries Inc. (9,839,141 ) (2,152,750 ) (11,991,891 ) Basic loss per share (.23 ) (.05 ) (.28 ) Weighted average number of common shares outstanding 42,143,764 102,807 42,246,571 The Company’s Board of Directors authorized the issuance of common shares as compensation to consultants, related parties and members of the board for services rendered during the second quarter ended June 30, 2018 which were not reflected in the financial statements for the period ended June 30, 2018. The authorized shares were not issued until September 4, 2018. The Board authorized 215,000 of common shares which had a fair value of $1,193,250 on April 27, 2018. The Board authorized 202,000 of common shares which had a fair value of $959,500 on June 6, 2018. The total value of the shares authorized, but not issued is $2,152,750. The shares issued increase the net loss for the three and six months ended June 30, 2018 by $2,152,750. The financial statements are being restated to reflect this change.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted. However, in the opinion of management, all adjustments (which include only normal recurring adjustments, unless otherwise indicated) necessary to present fairly the consolidated financial position and results of its operations for the periods presented have been made. The results for interim periods are not necessarily indicative of trends or of results to be expected for the full year. These consolidated financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2017 (including the notes thereto) set forth in Form 10-K filed with the Securities and Exchange Commission on April 17, 2018. Principles of Consolidation The consolidated financial statements through June 30, 2018 include the accounts of the Company and the following entities, all of which have fiscal year ends of December 31. (Note 1). ● 100% owned subsidiary, Project 1493, LLC; ● 100% owned subsidiary, Andalucia 511, LLC; ● 51% majority owned subsidiary, Spirulinex, LLC; ● 55% majority owned subsidiary, Sunset Connect Oakland, LLC; ● 55% majority owned, Green Spirit Essentials, LLC; ● 100% owned subsidiary, Green Spirit Mendocino, LLC; and ● 100% owned subsidiary, 138 Main Street PA, LLC. ● 100% owned subsidiary, GSRX SUPES, LLC ● 100% owned subsidiary, Point Arena Supply Co., LLC Use of Estimates and Assumptions The preparation of the consolidated financial statements that are in conformity with U.S. generally accepted accounting principles requires management to make 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. Cash and cash equivalents The Company considers all cash on hand, cash in banks and all highly liquid debt instruments purchased with a maturity of three months at purchase or less to be cash and cash equivalents. At times, cash and cash equivalent balances at a limited number of banks and financial institutions may exceed insurable amounts. At June 30, 2018 the Company had $3,268,709 in excess of FDIC depository insurance coverage. The Company believes it mitigates its risks by depositing cash or investing in cash equivalents in major financial institutions. Cash held in escrow, in the name of the Company, is held by Sichenzia Ross Ference (“Sichenzia”). The escrow account was established to hold the deposits from the sale of common stock and hold funds for businesses under letters of intents to purchase. There are no restrictions on the funds held by Sichenzia on the Company’s behalf. Revenue Recognition In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers.” This new standard replaced most existing revenue recognition guidance in U.S. GAAP and codified guidance under FASB Topic 606. The underlying principle of this new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration that the entity expects to be entitled to receive in exchange for those goods or services. The Company adopted ASU No. 2014-09 as of January 1, 2018 using the modified retrospective method. Results for the reporting period beginning after January 1, 2018 are presented under Topic 606, while prior period amounts continue to be reported in accordance with the Company’s historic accounting practices under previous guidance. However, given the nature of the Company’s products and the terms and conditions applicable to sales to its customers, the timing and amount of revenue recognized based on the underlying principles of ASU No. 2014-09 are consistent with the Company’s revenue recognition policy under previous guidance. The Company incurs costs associated with product distribution, such as freight and handling costs. The Company has elected to treat these costs as fulfillment activities and recognizes these costs at the same time that it recognizes the underlying product revenue. As this policy election is in line with the Company’s previous accounting practices, the treatment of shipping and handling activities under Topic 606 did not have any impact on the Company’s results of operations, financial condition and/or financial statement disclosures. In accordance with the new guidance, the Company recognizes revenue at an amount that reflects the consideration that the Company expects to be entitled to receive in exchange for transferring goods or services to its customers. The Company’s policy is to record revenue when control of the goods transfers to the customer. In limited instances when products are sold under consignment arrangements, the Company does not recognize revenue until control over such products has transferred to the end consumer. Other revenues, primarily rents, do not comprise a material amount of the Company’s net sales. Accounts Receivable The Company carries its accounts receivable at their estimated realizable amounts and periodically evaluates the credit condition of its customers. The allowance for uncollectible accounts receivable is based on the Company’s historical bad debt experience and on management’s evaluation of collectability of the individual outstanding balances. As of June 30, 2018, the Company had not identified any uncollectible accounts. Inventory The Company’s inventory is stated at the lower of cost or market. Fixed Assets Fixed assets are recorded at cost and are depreciated using the straight-line method over estimated useful lives as follows: Type of Asset Estimated Life Computer and technology 5 years Furniture and fixtures 10 years Building and Leasehold improvements 5 - 25 years Machinery and equipment 7 years Vehicles 5 years Intangible Costs The Company incurred costs related to Patent Application Costs during the quarter ended June 30, 2018, consisting of legal costs. The patent applications will be filed over the next several quarters. As the patents have not been issued as of June 30, 2018, no amortization has been applied against the patent costs. If the patents are approved, the Company will amortize the patent application costs over their useful lives. If the patents are not approved, the patent application costs will be expensed and charged against income. (Note 9). The licenses have indefinite useful lives. The licenses are tested annually for impairment, or when events or changes in circumstances indicate the potential for impairment. If the carrying amount of an indefinite lived intangible asset exceeds its fair value, the intangible asset is written down to its fair value. Fair value is calculated using comparative license costs or cash flow method. Expenses Cost of goods sold includes the purchase of cannabis and cannabis-related products, labor directly associated with purchasing, inventory control. General and administrative expense includes the costs associated with operating the businesses, and includes such items as bank charges, insurance, labor costs, taxes, marketing, permits, repairs, security, utilities, rent, consulting fees, office expenses, travel and other operating expenses incurred in the ordinary course of operating a retail business. Share based Compensation Compensation cost relating to share-based payment transactions (including the cost of all employee stock options) is required to be recognized in the consolidated financial statements and covers a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. That cost will be measured based on the estimated fair value of the equity or liability instruments issued. See Note 4. Fair Value of Financial Instruments The carrying value of the Company’s current liabilities approximates fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed, except for cash balances in excess of the FDIC depository insurance coverage, to significant interest, currency or credit risks arising from these financial instruments. Income Taxes The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company was organized under the laws of Nevada and therefore will be taxed at statutory U.S. federal corporate income tax rates. Basic Earnings per Share The Company computes net loss per share in accordance with FASB ASC 260 “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. Basic net loss per share amounts are computed by dividing the net loss by the weighted average number of common shares outstanding. Potentially dilutive securities have been excluded from the Company’s earnings per share calculation due to the effect of being anti-dilutive. The total number of potentially dilutive securities which have been excluded is 6,038,462. (Note 4). Recent Accounting Pronouncements As of June 30, 2018 and through October 26, 2018, there were several new accounting pronouncements issued by the Financial Accounting Standards Board. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s financial position or future operating results. The Company will monitor these emerging issues to assess any potential future impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This standard requires all leases that have a term of over 12 months to be recognized on the balance sheet with the liability for lease payments and the corresponding right-of-use asset initially measured at the present value of amounts expected to be paid over the term. Recognition of the costs of these leases on the income statement will be dependent upon their classification as either an operating or a financing lease. Costs of an operating lease will continue to be recognized as a single operating expense on a straight-line basis over the lease term. This standard will be effective for our interim and annual periods beginning January 1, 2019, and must be applied on a modified retrospective basis to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. We are currently evaluating the timing of adoption and the potential impact of this standard on our consolidated financial position, but we do not expect it to have a material impact on our results of operations.

Equity

Equity	6 Months Ended
Equity	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Equity	4. Equity Authorized and Outstanding Capital Stock The Company has authorized 100,000,000 shares of common stock, par value $0.001, of which 43,476,758 are currently issued and outstanding; 190,000 shares were purchased but not issued; and 417,000 were authorized but not issued. The Company currently has 9,999,000 shares of “blank check” preferred stock, and 1,000 shares of Series A Preferred Stock which are issued and outstanding. Common Stock The holders of common stock are entitled to one vote per share. In addition, the holders of the common stock will be entitled to receive ratably dividends, if any, declared by the board of directors out of legally available funds; however, the current policy of the board of directors is to retain earnings, if any, for operations and growth. Upon liquidation, dissolution or winding-up, the holders of common stock will be entitled to share ratably in all assets that are legally available for distribution. The holders of common stock will have no preemptive, subscription, redemption or conversion rights. The rights, preferences and privileges of holders of common stock will be subject to, and may be adversely affected by, the rights of the holders of any series of preferred stock, which may be designated solely by action of the board of directors and issued in the future. The following table illustrates the common stock transactions for the six months ended June 30, 2018: Preferred Common Category Shares Shares Cash, common shares 0 893,671 Services 0 1,487,500 Services, approved but not issued 0 417,550 Patents 0 200,000 Cash, common shares purchased but not issued as of the statement date 0 190,000 Total 0 2,771,721 On April 27, 2018, the Company authorized the issuance of 100,000 shares of common stock at $5.55 to Peach Management, LLC for services rendered to the Company. On April 27, 2018, the Company authorized the issuance of 25,000 shares of common stock at $5.55 to Les Ball for services rendered to the Company. On April 27, 2018, the Company authorized the issuance of 25,000 shares of common stock at $5.55 to Tom Gingerich for services rendered to the Company. On April 27, 2018, the Company authorized the issuance of 65,000 shares of common stock at $5.55 to Princesa Investments, LLC for services rendered to the Company. On June 6, 2018, the Company authorized the issuance of 100,000 shares of common stock at $4.75 to Peach Management, LLC for services rendered to the Company. On June 6, 2018, the Company authorized the issuance of 50,000 shares of common stock at $4.75 to Les Ball for services rendered to the Company. On June 6, 2018, the Company authorized the issuance of 25,000 shares of common stock at $4.75 to Tom Gingerich for services rendered to the Company. On June 6, 2018, the Company authorized the issuance of 25,000 shares of common stock at $4.75 to David Scott for services rendered to the Company. On June 6, 2018, the Company authorized the issuance of 2,000 shares of common stock at $4.75 to Gregory Jump for services rendered to the Company. On June 12, 2018 the Company issued 275 shares to Dr. Harlan Ribnik, Board Director, per letter agreement dated February 12, 2018. In connection with the appointment of Dr. Ribnik, the Board authorized to pay Dr. Ribnik compensation as a member of the Board of the Corporation a quarterly fee of shares of the Corporation’s Common Stock in an amount equal to One Thousand Five Hundred Dollars ($1,500) based on the market price per share of the Corporation’s Common Stock on the last trading day of each quarter. On June 12, 2018 the Company issued 275 shares to Steve Farkas, Board Director, per letter agreement dated February 12, 2018. In connection with the appointment of Mr. Farkas, the Board authorized to pay Mr. Farkas compensation as a member of the Board of the Corporation as follows: (i) a monthly fee of One Thousand Dollars ($1,000); and (ii) a quarterly fee of shares of the Corporation’s common stock, par value $0.001 per share (the “Common Stock”), in an amount equal to One Thousand Five Hundred Dollars ($1,500) based on the market price per share of the Corporation’s Common Stock on the last trading day of each quarter. Series A Preferred Stock The holder of Series A Preferred Stock shall have full voting rights and shall vote together as a single class with the holders of the Company’s common stock. The holder of Series A Preferred Stock is entitled to fifty-one percent (51%) of the total votes on all matters brought before shareholders of the Company, regardless of the actual number of shares of Series A Preferred Stock then outstanding. In addition, the Company is prohibited from issuing any other class of preferred stock without first obtaining the prior approval of the holders of Series A Preferred Stock. All Series A Preferred stock issued and outstanding is held by Peach Management, LLC. Blank Check Preferred Stock The board of directors will be authorized, subject to any limitations prescribed by law, without further vote or action by the common stockholders, to issue from time to time shares of preferred stock in one or more series. Each series of preferred stock will have the number of shares, designations, preferences, voting powers, qualifications and special or relative rights or privileges as shall be determined by the board of directors, which may include, among others, dividend rights, voting rights, liquidation preferences, conversion rights and preemptive rights. Warrants As of June 30, 2018, the Company had outstanding warrants to purchase 6,038,462 shares of common stock (the “ Warrants The Company may issue warrants to non-employees in capital raising transactions or for services. In accordance with guidance in ASC Topic 718, the cost of warrants issued to non-employees is measured on the grant date based on the fair value. The fair value is determined using the Black-Scholes option pricing model. The resulting amount is charged to expense on the straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. All of the outstanding warrants granted were fully vested on the grant date. 2018 Stock Offering On February 23, 2018, the Company entered into a subscription agreement (the “February Agreement”) with selected accredited investors (each, an “Investor” and collectively, the “Investors”). Pursuant to the terms of the February Agreement, the Company sold in a private placement (the “February Offering”) an aggregate of 155,167 units (each, a “Unit” and collectively, the “Units”) at a purchase price of $3.00 per Unit. The Offering resulted in $465,500 total gross proceeds. Each Unit consists of (i) one (1) share of the Company’s common stock, par value $0.001 per share (the “Shares”); and (ii) one (1) warrant to purchase shares of the Company’s common stock (each, a “Warrant” and together with the Units, Shares and the common stock issuable upon exercise of the Warrants (the “Warrant Shares”), collectively, the “Securities”). Each Warrant shall be exercisable at any time on or after the date of issuance for a period of three (3) years at an exercise price per share equal to $6.00 per share, subject to adjustment as provided in the Warrant agreement. April 2018 Stock Offering On April 11, 2018, the Company entered into a subscription agreement (the “April Agreement”) with selected accredited investors (each, an “Investor” and collectively, the “Investors”). Pursuant to the terms of the April Agreement, the Company sold in a private placement (the “April Offering”) 738,504 common shares at a purchase price of $3.50 per share. The Offering resulted in $2,584,765 total gross proceeds. The Offering was terminated on May 21, 2018. June 2018 Stock Offering On June 11, 2018, the Company entered into a subscription agreement (the “April Agreement”) with selected accredited investors (each, an “Investor” and collectively, the “Investors”). Pursuant to the terms of the April Agreement, the Company sold in a private placement (the “June Offering”) 190,000 common shares at a purchase price of $2.50 per share. The Offering resulted in $475,000 total gross proceeds. The Offering was terminated on June 22, 2018. Non-Controlling Interests Three subsidiaries of the Company began operations during the quarter ended June 30, 2018; Spirulinex, LLC (51% ownership), Sunset Connect Oakland, LLC (55% ownership) and Green Spirit Mendocino LLC (100% ownership). The non-controlling interests in Spirulinex, LLC and Sunset Connect Oakland, LLC during the quarter were accounted for on an equity basis in the consolidated financial statements.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes Deferred income taxes are reported using the liability method. Deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Licenses

Licenses	6 Months Ended
Licenses	Jun. 30, 2018
Licenses
Licenses	6. Licenses On March 7, 2018, Mendocino entered into an asset purchase agreement with a third-party seller, pursuant to which Mendocino acquired all of the assets relating to a retail cannabis business in Point Arena, Mendocino County, California for total cash consideration of $350,000. The amount assigned to the Licenses intangible asset was $309,300. The licenses and permits renew annually for nominal fees.

Construction in Progress

Construction in Progress	6 Months Ended
Construction in Progress	Jun. 30, 2018
Fixed Assets
Construction in Progress	7. Construction in progress On June 8, 2017, the Company entered into construction contracts for the construction and build-out of two dispensaries for the Carolina and Dorado locations for $123,700 and $100,075, respectively. On August 14, 2017 the Company entered into a construction contract for the construction and build-out of a dispensary for the Andalucia location for $117,200. On October 4, 2017 the Company entered into a construction contract for the construction and build-out of a dispensary for the Fajardo location for $127,600. As of June 30, 2018, the Company has paid $587,237 on interim payment applications to the contractor. The construction at the Dorado location was completed March 24, 2018; and the construction was completed at Carolina and Andalucia on May 14, 2018. The construction on the Fajardo location began on March 15, 2018 and is anticipated to be completed by July 31, 2018. The estimated cost to complete the projects is approximately $150,000.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions The Company entered into Consulting Agreements with the Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) effective as of January 1, 2018. The CEO will be paid $20,000 per month plus expenses and the CFO will be paid $17,500 per month plus expenses. The two officers performed their executive and financial duties for the Company since March 17, 2017. During the six months ended June 30, 2018, the CEO and CFO were paid $125,000 and $100,500, respectively. On March 9, 2018, the Company entered into a consulting agreement effective January 1, 2018 with Peach Management LLC (“Peach”), pursuant to which Peach shall provide certain consulting services relating to the execution of the Company’s business plan. In consideration of Peach’s services, the Company agrees to pay to Peach an amount of $10,000 per month, payable in accordance with the Company’s standard practices. On March 12, 2018 the Board of Directors increased the amount payable monthly to $25,000 to Peach. During the six months ended June 30, 2018, Peach was paid $127,500.

Patents

Patents	6 Months Ended
Patents	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Patents	9. Patents The Operating Agreement which governs the terms of Spirulinex, includes among other things, the requirement that the Company contribute to Spirulinex an aggregate of 200,000 shares of common stock valued at $4.75 per share, par value $0.001 per share, valued at $950,000; the Company contribute to Spirulinex a total of $350,000 to fund the Business; and Solunas Aqua Corp. enter into an IP assignment agreement and IP purchase agreement with Spirulinex for all intellectual property and provisional patents relating to the Business. The Company has applied for patents which it believes are a new, original and ornamental design for Oral Consumable Flakes. The patents use the methods of preparing solulizable, encapsulated plant-based compositions. During the six months ended June 30, 2018, the Company has paid $222,023 in legal and associated costs for the multiple patent applications.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Long Term Supply Agreement On April 18, 2017 the Company entered into a long term supply agreement (“Supply Agreement”) to purchase flower and manufactured products for the dispensaries upon approval of the appropriate licensing by the Puerto Rico Department of Health. Pursuant to the terms of the Supply Agreement, the Company agreed to purchase at least 50% of all flower and manufactured products to be sold in the dispensaries owned by the Company or its affiliates. The Supply Agreement has a term of ten years from the moment of its coming into effect. If neither party announces termination of the Supply Agreement at least thirty (30) days before its stated expiration, the Supply Agreement shall automatically extend for a period of one year, and renewing until such time as either party provides notice of termination in accordance with the terms and conditions of the Supply Agreement. Option to Purchase Building On May 14, 2018, Andalucia 511, LLC, through its parent company, Project 1493, LLC remitted $50,000 in the form of an option to purchase a building located at 1022 Ashford Avenue in Santuree, Puerto Rico. The option gives the Company an exclusive ninety day option to purchase the building for $1,150,000, which can be executed by written consent, specifying the closing date. The Company will also pay $5,000 rent for the duration of the option agreement. Risk of Prosecution for Cannabis-Related Companies A company that is connected to the marijuana industry must be aware that cannabis-related companies may be at risk of federal, and perhaps state, criminal prosecution. The Department of Treasury recently issued guidance noting: “The Controlled Substances Act” (“CSA”) makes it illegal under federal law to manufacture, distribute, or dispense cannabis. Many states impose and enforce similar prohibitions. As of June 30, 2018 and July 11, 2018, the Company has not been notified of any pending investigations regarding its planned business activities, and is not currently involved in any such investigations with any regulators. Letter of Intent – Progressive Collectives, LLC On January 26, 2018, the Company entered into a letter of intent with Progressive Collectives, LLC (“Progressive”), pursuant to which Progressive would sell and transfer the assets of a cannabis dispensary business, and the Company would purchase and assume the assets of such cannabis dispensary business, subject to the terms and conditions of the letter of intent with Progressive. Subject to a satisfactory due diligence investigation by the Company, and entry into a definitive agreement by and among the parties, the anticipated closing date of the proposed transaction shall be on or before February 2, 2018, subject to the right of the Company to extend such time for a period of forty-five days thereafter in the event the Company requires additional time to conduct its due diligence investigation. The Company and Progressive have signed extensions of time to complete the due diligence, the most recent one on March 23, 2018, extending the period for due diligence until ten days after Progressive files its 2017 Federal income tax return. As of the date of this statement, Progressive has not filed its Federal income tax return.

Revenue Classes

Revenue Classes	6 Months Ended
Revenue Classes	Jun. 30, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Classes	11. Revenue Classes Selected financial information for the Company’s operating revenue for disaggregated revenue purposes are as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2018 2017 2018 2017 Revenues by Type Wholesale $ 98,252 $ - $ 98,252 $ - Retail 255,178 257,374 Total $ 353,430 - $ 355,626 - For the Three Months Ended June 30, For the Six Months Ended June 30, 2018 2017 2018 2017 Revenues by State California $ 220,461 $ - $ 220,461 $ - Puerto Rico 132,969 135,165 Total $ 353,430 - $ 355,626 -

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events Isla Verde Construction On July 2, 2018 the Company entered into a construction contract for the construction and build-out of a dispensary for the Isla Verde location for $180,150. Estimated completion date is October, 2018. Letter of Intent – Progressive Collectives, LLC On January 26, 2018, the Company entered into a letter of intent with Progressive Collectives, LLC (“Progressive”), pursuant to which Progressive would sell and transfer the assets of a cannabis dispensary business, and the Company would purchase and assume the assets of such cannabis dispensary business, subject to the terms and conditions of the letter of intent with Progressive. Subject to a satisfactory due diligence investigation by the Company, and entry into a definitive agreement by and among the parties, the anticipated closing date of the proposed transaction shall be on or before February 2, 2018, subject to the right of the Company to extend such time for a period of forty-five days thereafter in the event the Company requires additional time to conduct its due diligence investigation. The Company and Progressive have signed extensions of time to complete the due diligence, the most recent one on March 23, 2018, extending the period for due diligence until ten days after Progressive files its 2017 Federal income tax return. On October 12, 2018 the Company terminated the LOI with Progressive.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted. However, in the opinion of management, all adjustments (which include only normal recurring adjustments, unless otherwise indicated) necessary to present fairly the consolidated financial position and results of its operations for the periods presented have been made. The results for interim periods are not necessarily indicative of trends or of results to be expected for the full year. These consolidated financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2017 (including the notes thereto) set forth in Form 10-K filed with the Securities and Exchange Commission on April 17, 2018.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements through June 30, 2018 include the accounts of the Company and the following entities, all of which have fiscal year ends of December 31. (Note 1). ● 100% owned subsidiary, Project 1493, LLC; ● 100% owned subsidiary, Andalucia 511, LLC; ● 51% majority owned subsidiary, Spirulinex, LLC; ● 55% majority owned subsidiary, Sunset Connect Oakland, LLC; ● 55% majority owned, Green Spirit Essentials, LLC; ● 100% owned subsidiary, Green Spirit Mendocino, LLC; and ● 100% owned subsidiary, 138 Main Street PA, LLC. ● 100% owned subsidiary, GSRX SUPES, LLC ● 100% owned subsidiary, Point Arena Supply Co., LLC
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of the consolidated financial statements that are in conformity with U.S. generally accepted accounting principles requires management to make 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.
Cash and Cash Equivalents	Cash and cash equivalents The Company considers all cash on hand, cash in banks and all highly liquid debt instruments purchased with a maturity of three months at purchase or less to be cash and cash equivalents. At times, cash and cash equivalent balances at a limited number of banks and financial institutions may exceed insurable amounts. At June 30, 2018 the Company had $3,268,709 in excess of FDIC depository insurance coverage. The Company believes it mitigates its risks by depositing cash or investing in cash equivalents in major financial institutions. Cash held in escrow, in the name of the Company, is held by Sichenzia Ross Ference (“Sichenzia”). The escrow account was established to hold the deposits from the sale of common stock and hold funds for businesses under letters of intents to purchase. There are no restrictions on the funds held by Sichenzia on the Company’s behalf.
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers.” This new standard replaced most existing revenue recognition guidance in U.S. GAAP and codified guidance under FASB Topic 606. The underlying principle of this new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration that the entity expects to be entitled to receive in exchange for those goods or services. The Company adopted ASU No. 2014-09 as of January 1, 2018 using the modified retrospective method. Results for the reporting period beginning after January 1, 2018 are presented under Topic 606, while prior period amounts continue to be reported in accordance with the Company’s historic accounting practices under previous guidance. However, given the nature of the Company’s products and the terms and conditions applicable to sales to its customers, the timing and amount of revenue recognized based on the underlying principles of ASU No. 2014-09 are consistent with the Company’s revenue recognition policy under previous guidance. The Company incurs costs associated with product distribution, such as freight and handling costs. The Company has elected to treat these costs as fulfillment activities and recognizes these costs at the same time that it recognizes the underlying product revenue. As this policy election is in line with the Company’s previous accounting practices, the treatment of shipping and handling activities under Topic 606 did not have any impact on the Company’s results of operations, financial condition and/or financial statement disclosures. In accordance with the new guidance, the Company recognizes revenue at an amount that reflects the consideration that the Company expects to be entitled to receive in exchange for transferring goods or services to its customers. The Company’s policy is to record revenue when control of the goods transfers to the customer. In limited instances when products are sold under consignment arrangements, the Company does not recognize revenue until control over such products has transferred to the end consumer. Other revenues, primarily rents, do not comprise a material amount of the Company’s net sales.
Accounts Receivable	Accounts Receivable The Company carries its accounts receivable at their estimated realizable amounts and periodically evaluates the credit condition of its customers. The allowance for uncollectible accounts receivable is based on the Company’s historical bad debt experience and on management’s evaluation of collectability of the individual outstanding balances. As of June 30, 2018, the Company had not identified any uncollectible accounts.
Inventory	Inventory The Company’s inventory is stated at the lower of cost or market.
Fixed Assets	Fixed Assets Fixed assets are recorded at cost and are depreciated using the straight-line method over estimated useful lives as follows: Type of Asset Estimated Life Computer and technology 5 years Furniture and fixtures 10 years Building and Leasehold improvements 5 - 25 years Machinery and equipment 7 years Vehicles 5 years
Intangible Costs	Intangible Costs The Company incurred costs related to Patent Application Costs during the quarter ended June 30, 2018, consisting of legal costs. The patent applications will be filed over the next several quarters. As the patents have not been issued as of June 30, 2018, no amortization has been applied against the patent costs. If the patents are approved, the Company will amortize the patent application costs over their useful lives. If the patents are not approved, the patent application costs will be expensed and charged against income. (Note 9). The licenses have indefinite useful lives. The licenses are tested annually for impairment, or when events or changes in circumstances indicate the potential for impairment. If the carrying amount of an indefinite lived intangible asset exceeds its fair value, the intangible asset is written down to its fair value. Fair value is calculated using comparative license costs or cash flow method.
Expenses	Expenses Cost of goods sold includes the purchase of cannabis and cannabis-related products, labor directly associated with purchasing, inventory control. General and administrative expense includes the costs associated with operating the businesses, and includes such items as bank charges, insurance, labor costs, taxes, marketing, permits, repairs, security, utilities, rent, consulting fees, office expenses, travel and other operating expenses incurred in the ordinary course of operating a retail business.
Share Based Compensation	Share based Compensation Compensation cost relating to share-based payment transactions (including the cost of all employee stock options) is required to be recognized in the consolidated financial statements and covers a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. That cost will be measured based on the estimated fair value of the equity or liability instruments issued. See Note 4.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of the Company’s current liabilities approximates fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed, except for cash balances in excess of the FDIC depository insurance coverage, to significant interest, currency or credit risks arising from these financial instruments.
Income Taxes	Income Taxes The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company was organized under the laws of Nevada and therefore will be taxed at statutory U.S. federal corporate income tax rates.
Basic Earnings Per Share	Basic Earnings per Share The Company computes net loss per share in accordance with FASB ASC 260 “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. Basic net loss per share amounts are computed by dividing the net loss by the weighted average number of common shares outstanding. Potentially dilutive securities have been excluded from the Company’s earnings per share calculation due to the effect of being anti-dilutive. The total number of potentially dilutive securities which have been excluded is 6,038,462. (Note 4).
Recent Accounting Pronouncements	Recent Accounting Pronouncements As of June 30, 2018 and through October 26, 2018, there were several new accounting pronouncements issued by the Financial Accounting Standards Board. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s financial position or future operating results. The Company will monitor these emerging issues to assess any potential future impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This standard requires all leases that have a term of over 12 months to be recognized on the balance sheet with the liability for lease payments and the corresponding right-of-use asset initially measured at the present value of amounts expected to be paid over the term. Recognition of the costs of these leases on the income statement will be dependent upon their classification as either an operating or a financing lease. Costs of an operating lease will continue to be recognized as a single operating expense on a straight-line basis over the lease term. This standard will be effective for our interim and annual periods beginning January 1, 2019, and must be applied on a modified retrospective basis to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. We are currently evaluating the timing of adoption and the potential impact of this standard on our consolidated financial position, but we do not expect it to have a material impact on our results of operations.

Nature of Operations (Tables)

Nature of Operations (Tables)	6 Months Ended
Nature of Operations (Tables)	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Purchase Price FPA	The cities and purchase price of FPA for the dispensaries are as follows: Fajardo $ 100,000 Carolina 100,000 Dorado 100,000 San Juan 75,000 Hato Rey 128,000 Total $ 503,000

Restatement of the Consolidat_2

Restatement of the Consolidated Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2018
Restatement Of Consolidated Financial Statements
Restatement of the Consolidated Financial Statements	The effects of the adjustments on the Company’s previously issued unaudited financial statements are summarized as follows: Selected Unaudited Consolidated Balance Sheets Information as of June 30, 2018 Previously Reported Net Change Restated Common stock 43,668 417 44,085 Additional paid-in capital 44,756,665 2,152,333 46,908,998 Retained deficit (35,922,101 ) (2,152,750 ) (38,074,851 ) Selected Unaudited Consolidated Statements of Operations for the three months ended June 30, 2018 Three months ended June 30, 2018 Previously Reported Net Change Restated Stock based compensation-consulting fee 2,750 2,152,750 2,155,500 Loss from operations (1,503,488 ) (2,152,750 ) (3,656,238 ) Loss from operations before provision for income taxes (1,494,903 ) (2,152,750 ) (3,647,653 ) Net loss (1,494,903 ) (2,152,750 ) (3,647,653 ) Net loss attributable to GSRX Industries Inc. (1,330,951 ) (2,152,750 ) (3,483,701 ) Basic loss per share (.03 ) (.05 ) (.08 ) Weighted average number of common shares outstanding 42,946,004 204,482 43,150,486 Selected Unaudited Consolidated Statements of Operations for the six months ended June 30, 2018 Six months ended June 30, 2018 Previously Reported Net Change Restated Stock based compensation-consulting fee 7,297,750 2,152,750 9,450,500 Loss from operations (10,012,196 ) (2,152,750 ) (12,164,946 ) Loss from operations before provision for income taxes (10,003,611 ) (2,152,750 ) (12,156,361 ) Net loss (10,003,611 ) (2,152,750 ) (12,156,361 ) Net loss attributable to GSRX Industries Inc. (9,839,141 ) (2,152,750 ) (11,991,891 ) Basic loss per share (.23 ) (.05 ) (.28 ) Weighted average number of common shares outstanding 42,143,764 102,807 42,246,571

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of Fixed Assets Estimated Useful Lives	Fixed assets are recorded at cost and are depreciated using the straight-line method over estimated useful lives as follows: Type of Asset Estimated Life Computer and technology 5 years Furniture and fixtures 10 years Building and Leasehold improvements 5 - 25 years Machinery and equipment 7 years Vehicles 5 years

Equity (Tables)

Equity (Tables)	6 Months Ended
Equity (Tables)	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Transactions	The following table illustrates the common stock transactions for the six months ended June 30, 2018: Preferred Common Category Shares Shares Cash, common shares 0 893,671 Services 0 1,487,500 Services, approved but not issued 0 417,550 Patents 0 200,000 Cash, common shares purchased but not issued as of the statement date 0 190,000 Total 0 2,771,721

Revenue Classes (Tables)

Revenue Classes (Tables)	6 Months Ended
Revenue Classes (Tables)	Jun. 30, 2018
Revenue Recognition and Deferred Revenue [Abstract]
Schedule of Disaggregation of Revenue	Selected financial information for the Company’s operating revenue for disaggregated revenue purposes are as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2018 2017 2018 2017 Revenues by Type Wholesale $ 98,252 $ - $ 98,252 $ - Retail 255,178 257,374 Total $ 353,430 - $ 355,626 - For the Three Months Ended June 30, For the Six Months Ended June 30, 2018 2017 2018 2017 Revenues by State California $ 220,461 $ - $ 220,461 $ - Puerto Rico 132,969 135,165 Total $ 353,430 - $ 355,626 -

Nature of Operations (Details N

Nature of Operations (Details Narrative) - USD ($)	May 22, 2018	Mar. 07, 2018	May 11, 2017
Lease payments per month	$ 1,200
Series A Preferred Stock [Member]
Number of preferred stock shares grants during period			1,000
Share Exchange Agreement [Member]
Number of exchange for restricted shares of common stock			16,690,912
Maximum number of warrants to purchase of common stock shares			3,000,000
Exercise price of warrant			$ 0.50
Issuance of exchange warrants term			3 years
Voting percentage			51.00%
Asset Purchase Agreement [Member]
Cash consideration		$ 350,000

Nature of Operations - Schedule

Nature of Operations - Schedule of Purchase Price FPA (Details)	6 Months Ended
	Jun. 30, 2018USD ($)
Purchase Price of FPA	$ 503,000
Fajardo [Member]
Purchase Price of FPA	100,000
Carolina [Member]
Purchase Price of FPA	100,000
Dorado [Member]
Purchase Price of FPA	100,000
San Juan [Member]
Purchase Price of FPA	75,000
Hato Rey [Member]
Purchase Price of FPA	$ 128,000

Restatement of the Consolidat_3

Restatement of the Consolidated Financial Statements (Details Narrative) - USD ($)	Jun. 06, 2018	Apr. 27, 2018	Jun. 30, 2018	Jun. 30, 2018
Restatement Of Consolidated Financial Statements
Number of common stock shares issued	202,000	215,000	2,152,750	2,152,750
Number of common stock value issued	$ 959,500	$ 1,193,250		$ 2,584,765
Common stock shares subscribed but unissued			2,152,750	2,152,750

Restatement of the Consolidat_4

Restatement of the Consolidated Financial Statements (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Common stock	$ 44,085		$ 44,085		$ 40,895
Additional paid-in capital	46,908,998		46,908,998		33,349,144
Retained deficit	(38,074,851)		(38,074,851)		$ (26,082,960)
Stock based compensation-consulting fee	2,155,500	$ 1,069,600	9,450,500	$ 1,069,600
Loss from operations	(3,656,238)	(3,297,215)	(12,164,946)	(3,297,215)
Loss from operations before provision for income taxes	(3,647,653)	(3,297,215)	(12,156,361)	(3,297,215)
Net loss	(3,647,653)	(3,297,215)	(12,156,361)	(3,297,215)
Net loss attributable to GSRX Industries Inc.	$ (3,483,701)	$ (3,297,215)	$ (11,991,891)	$ (3,297,215)
Basic loss per share	$ (0.08)	$ (0.20)	$ (0.28)	$ (0.39)
Weighted average number of common shares outstanding	43,150,486	16,595,057	42,246,571	8,466,462
Previously Reported [Member]
Common stock	$ 43,668		$ 43,668
Additional paid-in capital	44,756,665		44,756,665
Retained deficit	(35,922,101)		(35,922,101)
Stock based compensation-consulting fee	2,750		7,297,750
Loss from operations	(1,503,488)		(10,012,196)
Loss from operations before provision for income taxes	(1,494,903)		(10,003,611)
Net loss	(1,494,903)		(10,003,611)
Net loss attributable to GSRX Industries Inc.	$ (1,330,951)		$ (9,839,141)
Basic loss per share	$ (.03)		$ (.23)
Weighted average number of common shares outstanding	42,946,004		42,143,764
Restatement Adjustment [Member]
Common stock	$ 417		$ 417
Additional paid-in capital	2,152,333		2,152,333
Retained deficit	(2,152,750)		(2,152,750)
Stock based compensation-consulting fee	2,152,750		2,152,750
Loss from operations	(2,152,750)		(2,152,750)
Loss from operations before provision for income taxes	(2,152,750)		(2,152,750)
Net loss	(2,152,750)		(2,152,750)
Net loss attributable to GSRX Industries Inc.	$ (2,152,750)		$ (2,152,750)
Basic loss per share	$ (.05)		$ (.05)
Weighted average number of common shares outstanding	204,482		102,807

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative)	6 Months Ended
	Jun. 30, 2018USD ($)shares
Liquid investments maturity, period	3 months
Excess of FDIC depository insurance coverage \| $	$ 3,268,709
Potentially dilutive securities \| shares	6,038,462
Project 1493, LLC [Member]
Ownership percentage	100.00%
Andalucia 511, LLC [Member]
Ownership percentage	100.00%
Spirulinex, LLC [Member]
Ownership percentage	51.00%
Sunset Connect Oakland, LLC [Member]
Ownership percentage	55.00%
Green Spirit Essentials, LLC [Member]
Ownership percentage	55.00%
Green Spirit Mendocino, LLC [Member]
Ownership percentage	100.00%
138 Main Street PA, LLC [Member]
Ownership percentage	100.00%
GSRX SUPES, LLC [Member]
Ownership percentage	100.00%
Point Arena Supply Co., LLC [Member]
Ownership percentage	100.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Fixed Assets Estimated Useful Lives (Details)	6 Months Ended
	Jun. 30, 2018
Computer and Technology [Member]
Fixed Assets Estimated Useful Lives	5 years
Furniture and Fixtures [Member]
Fixed Assets Estimated Useful Lives	10 years
Building and Leasehold Improvements [Member] \| Minimum [Member]
Fixed Assets Estimated Useful Lives	5 years
Building and Leasehold Improvements [Member] \| Maximum [Member]
Fixed Assets Estimated Useful Lives	25 years
Machinery and Equipment [Member]
Fixed Assets Estimated Useful Lives	7 years
Vehicles [Member]
Fixed Assets Estimated Useful Lives	5 years

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Jun. 12, 2018	Jun. 11, 2018	Jun. 06, 2018	Apr. 27, 2018	Apr. 11, 2018	Feb. 23, 2018	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Common stock, shares authorized							100,000,000	100,000,000	100,000,000
Common stock, par value							$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued							43,476,758	43,476,758	40,817,870
Common stock, shares outstanding							43,476,758	43,476,758	40,817,870
Shares approved, not issued as of statement date, shares								190,000
Number shares authorized but not issued							417,000	417,000	0
Preferred stock, shares authorized							1,000	1,000	1,000
Preferred stock, shares issued							1,000	1,000	1,000
Preferred stock, shares outstanding							1,000	1,000	1,000
Number of common stock shares issued			202,000	215,000			2,152,750	2,152,750
Subscription Agreement [Member]
Shares issued price per share		$ 2.50			$ 3.50	$ 3
Total gross proceeds of shares issued		$ 475,000			$ 2,584,765	$ 465,500
Subscription Agreement [Member] \| Private Placement [Member]
Number of common stock shares issued		190,000			738,504	155,167
Les Ball [Member]
Common stock, par value			$ 4.75	$ 5.55
Stock issued during period shares, issued for services			50,000	25,000
Tom Gingerich [Member]
Common stock, par value			$ 4.75	$ 5.55
Stock issued during period shares, issued for services			25,000	25,000
David Scott [Member]
Common stock, par value			$ 4.75
Stock issued during period shares, issued for services			25,000
Gregory Jump [Member]
Common stock, par value			$ 4.75
Stock issued during period shares, issued for services			2,000
Dr. Ribnik [Member]
Number of common stock shares issued	275
Compensation description	The Board authorized to pay Dr. Ribnik compensation as a member of the Board of the Corporation a quarterly fee of shares of the Corporation's Common Stock in an amount equal to One Thousand Five Hundred Dollars ($1,500) based on the market price per share of the Corporation's Common Stock on the last trading day of each quarter.
Mr. Farkas [Member]
Common stock, par value	$ 0.001
Number of common stock shares issued	275
Compensation description	(i) a monthly fee of One Thousand Dollars ($1,000); and (ii) a quarterly fee of shares of the Corporation's common stock, par value $0.001 per share (the "Common Stock"), in an amount equal to One Thousand Five Hundred Dollars ($1,500) based on the market price per share of the Corporation's Common Stock on the last trading day of each quarter.
Monthly fee	$ 1,000
Peach Management, LLC [Member]
Common stock, par value			$ 4.75	$ 5.55
Stock issued during period shares, issued for services			100,000	100,000
Princesa Investments, LLC [Member]
Common stock, par value				$ 5.55
Stock issued during period shares, issued for services				65,000
Spirulinex, LLC [Member]
Common stock, par value							$ 0.001	$ 0.001
Equity ownership interest rate							51.00%	51.00%
Sunset Connect Oakland, LLC [Member]
Equity ownership interest rate							55.00%	55.00%
Green Spirit Mendocino, LLC [Member]
Equity ownership interest rate							100.00%	100.00%
Series A Preferred Stock [Member]
Preferred stock, shares issued							1,000	1,000
Preferred stock, shares outstanding							1,000	1,000
Preferred stock, voting percentage							51.00%	51.00%
Blank Check [Member]
Preferred stock, shares authorized							9,999,000	9,999,000
Warrants [Member]
Outstanding warrants to purchase						1	6,038,462	6,038,462
Exercise price of warrant						$ 6	$ 0.50	$ 0.50
Warrant term						3 years		3 years
Common Stock [Member]
Common stock, par value						$ 0.001
Stock issued during period shares, issued for services								1,905,050
Number of common stock shares issued						1		738,504

Equity - Schedule of Common Sto

Equity - Schedule of Common Stock Transactions (Details) - shares	Jun. 06, 2018	Apr. 27, 2018	Jun. 30, 2018	Jun. 30, 2018
Cash, common shares	202,000	215,000	2,152,750	2,152,750
Preferred Shares [Member]
Cash, common shares				0
Services				0
Services, approved but not issued				0
Patents				0
Cash, common shares purchased but not issued as of the statement date				0
Total				0
Common Shares [Member]
Cash, common shares				893,671
Services				1,487,500
Services, approved but not issued				417,550
Patents				200,000
Cash, common shares purchased but not issued as of the statement date				190,000
Total				2,771,721

Licenses (Details Narrative)

Licenses (Details Narrative) - USD ($)	Mar. 07, 2018	Jun. 30, 2018	Jun. 30, 2017
Licenses cost		$ 309,300
Asset Purchase Agreement [Member]
Cash consideration	$ 350,000

Construction in Progress (Detai

Construction in Progress (Details Narrative) - USD ($)	6 Months Ended
Construction in Progress (Details Narrative) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Oct. 04, 2017	Aug. 14, 2017	Jun. 08, 2017
Construction contracts	$ 282,678	$ 241,627
Payment to contractor	$ 587,237
Construction is estimated to be completed	The construction at the Dorado location was completed March 24, 2018; and the construction was completed at Carolina and Andalucia on May 14, 2018. The construction on the Fajardo location began on March 15, 2018 and is anticipated to be completed by July 31, 2018.
Estimated cost to complete the project	$ 150,000
Carolina [Member]
Construction contracts					$ 123,700
Dorado [Member]
Construction contracts					$ 100,075
Andalucia [Member]
Construction contracts				$ 117,200
Fajardo [Member]
Construction contracts			$ 127,600

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Mar. 12, 2018	Mar. 09, 2018	Jun. 30, 2018	Jun. 30, 2017	Jan. 02, 2018
Payments of related party				$ 150,000
Peach Management, LLC [Member]
Compensation paid			127,500
Chief Executive Officer [Member]
Compensation paid			125,000
Chief Financial Officer [Member]
Compensation paid			$ 100,500
Consulting Agreements [Member] \| Peach Management, LLC [Member]
Payments of related party	$ 25,000	$ 10,000
Consulting Agreements [Member] \| Chief Executive Officer [Member]
Related party will be paid plus expenses					$ 20,000
Consulting Agreements [Member] \| Chief Financial Officer [Member]
Related party will be paid plus expenses					$ 17,500

Patents (Details Narrative)

Patents (Details Narrative) - USD ($)	6 Months Ended
Patents (Details Narrative) - USD ($)	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Common stock, par value	$ 0.001		$ 0.001
Common stock, value	$ 44,085		$ 40,895
Shares issued for purchase of patents	950,000
Patent cost	$ 572,023
Spirulinex, LLC [Member]
Shares issued for purchase of patents, shares	200,000
Common stock price, per share	$ 4.75
Common stock, par value	$ 0.001
Common stock, value	$ 950,000
Shares issued for purchase of patents	350,000
Patent cost	$ 222,023

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	May 14, 2018	Apr. 18, 2017
Long term supply agreement, description		Pursuant to the terms of the Supply Agreement, the Company agreed to purchase at least 50% of all flower and manufactured products to be sold in the dispensaries owned by the Company or its affiliates. The Supply Agreement has a term of ten years from the moment of its coming into effect.. If neither party announces termination of the Supply Agreement at least thirty (30) days before its stated expiration, the Supply Agreement shall automatically extend for a period of one year, and renewing until such time as either party provides notice of termination in accordance with the terms and conditions of the Supply Agreement.
Purchase the building	$ 1,150,000
Project 1493, LLC [Member]
Purchase the building	50,000
Project 1493, LLC [Member] \| Option Agreement [Member]
Payment for rent	$ 5,000

Revenue Classes - Schedule of D

Revenue Classes - Schedule of Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue	$ 353,430		$ 355,626
Wholesale [Member]
Revenue	98,252		98,252
Retail [Member]
Revenue	255,178		257,374
California [Member]
Revenue	220,461		220,461
Puerto Rico [Member]
Revenue	$ 132,969		$ 135,165

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Jul. 02, 2018	Jun. 30, 2018	Dec. 31, 2017
Construction contract		$ 282,678	$ 241,627
Subsequent Event [Member] \| Isla Verde [Member]
Construction contract	$ 180,150