Green Planet Bioengineering (GPLB) 10-Q 8 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 08, 2019
Document And Entity Information
Entity Registrant Name	Green Planet Bio Engineering Co. Ltd.
Entity Central Index Key	0001392449
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		20,006,402
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 0	$ 0
TOTAL CURRENT ASSETS	0	0
Current liabilities
Accounts payable	0	0
Accrued liabilities	8,500	11,750
Amount due to a related party	257,120	245,751
TOTAL CURRENT LIABILITIES	265,620	257,501
STOCKHOLDERS' DEFICIT
Preferred stock: par value of $0.001 per share, Authorized: 10,000,000 shares at March 31, 2019 and December 31, 2018, Issued and outstanding: 0 shares at March 31, 2019 and December 31, 2018	0	0
Common stock: par value of $0.001 per share, Authorized: 250,000,000 shares at March 31, 2019 and December 31, 2018, Issued and outstanding: 20,006,402 shares at March 31, 2019 and December 31, 2018	20,006	20,006
Additional paid-in capital	609,614	609,614
Accumulated deficit	(895,240)	(887,121)
TOTAL STOCKHOLDERS' DEFICIT	(265,620)	(257,501)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
STOCKHOLDERS' DEFICIT
Preferred stock, par value	$ .001	$ .001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ .001	$ .001
Common stock, authorized	250,000,000	250,000,000
Common stock, issued	20,006,402	20,006,402
Common stock, outstanding	20,006,402	20,006,402

Statements of Income (Unaudited

Statements of Income (Unaudited) - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Administrative expenses		$ (8,119)	$ (9,132)
Loss before income taxes		(8,119)	(9,132)
Provision for income taxes		0	0
Net loss		$ (8,119)	$ (9,132)
Earnings per share
Basic and diluted	[1]
Weighted average number of shares outstanding
Basic and diluted		20,006,402	20,006,402
[1]	Less than $.01, per share.

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net loss	$ (8,119)	$ (9,132)
Changes in operating assets and liabilities:
Accounts payable	0	0
Accrued liabilities	(3,250)	(5,000)
Amount due to a related party	11,369	14,132
Net cash flows used by operating activities	0	0
Cash flows from investing activities	0	0
Cash flows from financing activities	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents - beginning of period	0	0
Cash and cash equivalents - end of period	0	0
Supplemental disclosures for cash flow information:
Cash paid for interest	0	0
Cash paid for income taxes	$ 0	$ 0

1. General Information

1. General Information	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
1. General Information	Mondo Acquisition II, Inc. was incorporated in the State of Delaware on October 30, 2006 and the name was changed to Green Planet Bioengineering Co., Ltd. (“Company”) on October 2, 2008. In October 2008, the Company acquired Elevated Throne Overseas Ltd, incorporated in British Virgin Islands, and its subsidiaries which was subsequently divested to One Bio, Corp (“ONE”) on April 14, 2010. In March 2012, the Company became a subsidiary of Global Fund Holdings Corp. (“Global Funds”) an Ontario, Canada Corporation. The Company operates as a public reorganized shell corporation with the purpose to acquire or merge with an existing business operation. The Company's activities are subject to significant risks and uncertainties, as their ability to implement and execute future business plans and generate sufficient business revenue is directly influenced by their ability to secure adequate financing or find profitable business opportunities.

2. Summary of Significant Accou

2. Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
2. Summary of Significant Accounting Policies	Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position as of the period reporting date, and the results of its operations and cash flows for the fiscal period end. The results of operations for the fiscal period end are not necessarily indicative of the results to be expected for future quarters or the full fiscal year. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the years reported. Actual results could differ from those estimates. Significant items that require estimates were accruals of liabilities. Cash and cash equivalents Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less to be cash equivalents. Balances of cash and cash equivalents in financial institutions may at times exceed the government-insured limits. Earnings per share Earnings per share is reported in accordance with FASB ASC Topic 260 “ Earnings per Share Fair Value Measurements FASB ASC Topic 820, “ Fair Value Measurements and Disclosures Level 1 - Quoted prices are available in active markets for identical investments as of the period reporting date Level 2 - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level 3 - Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. Recent Changes in Accounting Standards In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. In June 2018, the FASB issued ASU 2018-07, “Improvements to Nonemployee Share-Based Payment Accounting”, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. The changes take effect for public companies for fiscal years starting after December 15, 2018, including the interim periods within that fiscal year. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The adoption of this ASU did not have a material impact on the Company’s financial statements. Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

3. Going Concern

3. Going Concern	3 Months Ended
	Mar. 31, 2019
Going Concern
3. Going Concern	The financial statements have been prepared assuming that the Company will continue as a going concern. The Company is currently a public reorganized shell corporation and has no current business activity. The Company’s ability to continue as a going concern is dependent on continued support from Global Funds, the majority stockholder.

4. Amount Due to a Related Comp

4. Amount Due to a Related Company	3 Months Ended
	Mar. 31, 2019
Due to Related Parties [Abstract]
4. Amount Due to a Related Company	The Company relies on a related company to advance funds to finance its operating expenses. The amounts advanced are interest-free, unsecured and are repayable upon demand.

5. Preferred Stock _ Common Sto

5. Preferred Stock / Common Stock	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
5. Preferred Stock / Common Stock	Series A Preferred stock The Company is authorized under its Articles of Incorporation to issue 10,000,000 shares of Series A preferred stock with a par value of $0.001 per share. Each share of the Company’s preferred stock provides the holder with the right to vote 1,000 votes on all matters submitted to a vote of the stockholders of the Company and is convertible into 1,000 shares of the Company’s common stock. The preferred stock is non-participating and carries no dividend. The Company does not have any issued shares of the preferred stock as of March 31, 2019 and December 31, 2018. Common stock The Company is authorized to issue 250,000,000 shares of common stock with a par value of $0.001 per share. During the three months ended March 31, 2019, the Company did not issue any shares of common stock or warrants.

6. Stock-Based Compensation

6. Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
6. Stock-Based Compensation	There was no non-cash stock-based compensation recognized for the three months ended March 31, 2019 and 2018.

2. Summary of Significant Acc_2

2. Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position as of the period reporting date, and the results of its operations and cash flows for the fiscal period end. The results of operations for the fiscal period end are not necessarily indicative of the results to be expected for future quarters or the full fiscal year.
Use of Estimates	The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the years reported. Actual results could differ from those estimates. Significant items that require estimates were accruals of liabilities.
Cash and Cash Equivalents	Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less to be cash equivalents. Balances of cash and cash equivalents in financial institutions may at times exceed the government-insured limits.
Earnings Per Share	Earnings per share is reported in accordance with FASB ASC Topic 260 “ Earnings per Share
Fair Value Measurements	FASB ASC Topic 820, “ Fair Value Measurements and Disclosures Level 1 - Quoted prices are available in active markets for identical investments as of the period reporting date Level 2 - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level 3 - Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation.
Recent Changes in Accounting Standards	In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. In June 2018, the FASB issued ASU 2018-07, “Improvements to Nonemployee Share-Based Payment Accounting”, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. The changes take effect for public companies for fiscal years starting after December 15, 2018, including the interim periods within that fiscal year. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The adoption of this ASU did not have a material impact on the Company’s financial statements. Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

1. General Information (Details

1. General Information (Details Narrative)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
State of incorporation	Delaware
Incorporation Date	Oct. 30, 2006

5. Preferred Stock _ Common S_2

5. Preferred Stock / Common Stock (Details Narrative) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Preferred stock par value	$ .001	$ .001
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Common stock, par value	$ .001	$ .001
Common stock, authorized	250,000,000	250,000,000

6. Stock-Based Compensation (De

6. Stock-Based Compensation (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Non-cash stock-based compensation	$ 0	$ 0