Green Planet Bioengineering (GPLB) 10-Q 12 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 12, 2023
Cover [Abstract]
Entity Registrant Name	GREEN PLANET BIOENGINEERING CO., LTD.
Entity Central Index Key	0001392449
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		20,006,402
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-52622
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	37-1532842
Entity Address Address Line 1	20807 Biscayne Blvd.
Entity Address Address Line 2	Suite 203
Entity Address City Or Town	Aventura
Entity Address State Or Province	FL
Entity Address Postal Zip Code	33180
City Area Code	786
Local Phone Number	279-2900

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 0	$ 0
TOTAL CURRENT ASSETS	0	0
Current liabilities
Accounts payable and accrued liabilities	5,840	0
Amount due to a related party	393,920	381,920
TOTAL CURRENT LIABILITIES	399,760	381,920
Commitments and Contingencies (Note 6)	0	0
STOCKHOLDERS' DEFICIT
Preferred stock : par value of $0.001 per share, Authorized: 10,000,000 shares at March 31, 2023 and December 31, 2022 Issued and outstanding : 0 shares at March 31, 2023 and December 31, 2022	0	0
Common stock : par value $0.001 per share Authorized : 250,000,000 shares at March 31, 2023 and December 31, 2022 Issued and outstanding : 20,006,402 shares at March 31, 2023 and December 31, 2022	20,006	20,006
Additional paid-in capital	609,614	609,614
Accumulated deficit	(1,029,380)	(1,011,540)
TOTAL STOCKHOLDERS' DEFICIT	(399,760)	(381,920)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Balance Sheets
Preferred Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Authorized	10,000,000	10,000,000
Preferred Stock, Issued	0	0
Preferred Stock, Outstanding	0	0
Common Stock, Par Value	$ 0.001	$ 0.001
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 Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statements of Operations (Unaudited)
Administrative expenses	$ (17,840)	$ (13,658)
Loss before income taxes	(17,840)	(13,658)
Provision for income taxes	0	0
Net loss	$ (17,840)	$ (13,658)
Loss per share
-Basic and diluted	$ 0	$ 0
Weighted average number of shares outstanding
-Basic and diluted	20,006,402	20,006,402

Statements of Changes in Stockh

Statements of Changes in Stockholders Deficit (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Dec. 31, 2021			20,006,402
Balance, amount at Dec. 31, 2021	$ (349,387)	$ 0	$ 20,006	$ 609,614	$ (979,007)
Net loss for the three months	(13,658)	0	$ 0	0	(13,658)
Balance, shares at Mar. 31, 2022			20,006,402
Balance, amount at Mar. 31, 2022	(363,045)		$ 20,006	609,614	(992,665)
Balance, shares at Dec. 31, 2022			20,006,402
Balance, amount at Dec. 31, 2022	(381,920)	0	$ 20,006	609,614	(1,011,540)
Net loss for the three months	(17,840)	$ 0	$ 0	0	(17,840)
Balance, shares at Mar. 31, 2023			20,006,402
Balance, amount at Mar. 31, 2023	$ (399,760)		$ 20,006	$ 609,614	$ (1,029,380)

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (17,840)	$ (13,658)
Changes in operating assets and liabilities :
Accounts payable and accrued liabilities	5,840	8,948
Net cash flows used by operating activities	(12,000)	(4,710)
Cash flows from investing activities	0	0
Cash flows from financing activities
Amount due to a related company	12,000	4,710
Net cash flows provided by financing activities	12,000	4,710
Net change in cash	0	0
Cash - beginning of period	0	0
Cash - end of period	0	0
Supplemental disclosures for cash flow information:
Cash paid for interest	0	0
Cash paid for income taxes	$ 0	$ 0

General Information

General Information	3 Months Ended
	Mar. 31, 2023
General Information
General Information	1. General Information Mondo Acquisition II, Inc. was incorporated in the State of Delaware on October 30, 2006 and changed the name 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Summary Of Significant Accounting Policies	2. Summary of significant accounting policies Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-K. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal and recurring adjustments have been made. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023. 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. Loss 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 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 unaudited condensed financial statements.

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2023
Going Concern
Going Concern	3. Going Concern The unaudited condensed financial statements have been prepared assuming that the Company will continue as a going concern. As at March 31, 2023, the Company has a working capital deficit of $399,760, and accumulated deficit of $1,029,380 and a net loss of $17,840, for the three months ended March 31, 2023. 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 a related party of the majority stockholder. This gives rise to substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance date of this filing.

Amount Due to a Related Company

Amount Due to a Related Company	3 Months Ended
	Mar. 31, 2023
Amount Due to a Related Company
Amount Due to a Related Company	4. Amount Due to a Related Company The Company relies on a related party of the majority stockholder to advance funds to finance its operating expenses. The Company’s Chief Executive Officer, Chief Financial Officer and Director of the Company is also a director of the related party. The amounts advanced of $393,920 are interest-free, unsecured and are repayable upon demand.

Stockholders Deficit

Stockholders Deficit	3 Months Ended
	Mar. 31, 2023
Stockholders Deficit
Stockholders' Deficit	5. Stockholders’ Deficit 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, 2023 and December 31, 2022. 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, 2023, the Company did not issue any shares of common stock or warrants.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	6. Commitments and Contingencies The Company does not have any commitments and contingencies during the three months ended March 31, 2023.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events
Subsequent Events	7. Subsequent Events The related party advanced the Company $5,840 from April 1, 2023 through the date of filing.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Basis Of Presentation	The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-K. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal and recurring adjustments have been made. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.
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.
Loss 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	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 unaudited condensed financial statements.

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Going Concern
Accumulated deficit	$ (1,029,380)		$ (1,011,540)
Working capital deficit	399,760
Net loss	$ (17,840)	$ (13,658)

Amount Due to a Related Party (

Amount Due to a Related Party (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Amount Due to a Related Party (Details Narrative)
Amount Due To A Related Party	$ 393,920	$ 381,920

Stockholders Deficit (Details N

Stockholders Deficit (Details Narrative)	3 Months Ended
	Mar. 31, 2023 integer $ / shares shares	Dec. 31, 2022 $ / shares shares
Common Stock, Par Value | $ / shares	$ 0.001	$ 0.001
Number of votes | integer	1,000
Convertible shares of common stock.	1,000
Preferred Stock, Par Value | $ / shares	$ 0.001	$ 0.001
Preferred Stock, Issued	0	0
Common Stock, Authorized	250,000,000	250,000,000
Series A Preferred Stock [Member]
Preferred Stock, Par Value | $ / shares	$ 0.001
Preferred Stock, Issued	10,000,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)	Apr. 01, 2023 USD ($)
Subsequent Event [Member]
Amount Due To A Related Party	$ 5,840