Green Planet Bioengineering (GPLB) 10-K 29 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 29, 2024	Jun. 30, 2023
Cover [Abstract]
Entity Registrant Name	GREEN PLANET BIOENGINEERING CO., LTD.
Entity Central Index Key	0001392449
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		20,006,402
Entity Public Float			$ 722,205
Document Annual Report	true
Document Transition Report	false
Document Fin Stmt Error Correction Flag	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
Entity Interactive Data Current	Yes
Auditor Name	Assurance Dimensions
Auditor Location	Margate, Florida
Auditor Firm Id	5036

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 0	$ 0
TOTAL CURRENT ASSETS	0	0
Current liabilities
Accounts payable and accrued liabilities	5,000	0
Amount due to a related party	424,590	381,920
TOTAL CURRENT LIABILITIES	429,590	381,920
STOCKHOLDERS DEFICIT
Preferred stock : par value of $0.001 per share, Authorized: 10,000,000 shares at December 31, 2023 and December 31, 2022 Issued and outstanding : 0 shares at December 31, 2023 and December 31, 2022	0	0
Common stock : par value $0.001 per share Authorized : 250,000,000 shares at December 31, 2023 and December 31, 2022 Issued and outstanding : 20,006,402 shares at December 31, 2023 and December 31, 2022	20,006	20,006
Additional paid-in capital	609,614	609,614
Accumulated deficit	(1,059,210)	(1,011,540)
TOTAL STOCKHOLDERS DEFICIT	(429,590)	(381,920)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$ 0	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 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

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statements of Operations
Administrative expenses	$ (47,370)	$ (32,533)
Interest expenses	(300)	0
Loss before income taxes	(47,670)	(32,533)
Provision for income taxes	0	0
Net loss	$ (47,670)	$ (32,533)
Weighted average number of shares outstanding
-Basic and diluted	20,006,402	20,006,402

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net loss	$ (47,670)	$ (32,533)
Changes in operating assets and liabilities :
Accounts payable and accrued liabilities	5,000	0
Net cash flows used by operating activities	(42,670)	(32,533)
Cash flows from investing activities	0	0
Cash flows from financing activities
Amount due to a related company	42,670	32,533
Net cash flows provided by financing activities	42,670	32,533
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	300	0
Cash paid for income taxes	$ 0	$ 0

Statements of Changes in Stockh

Statements of Changes in Stockholders Deficit - USD ($)	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Dec. 31, 2021		20,006,402
Balance, amount at Dec. 31, 2021	$ (349,387)	$ 20,006	$ 0	$ 609,614	$ (979,007)
Net loss	(32,533)	$ 0	0	0	(32,533)
Balance, shares at Dec. 31, 2022		20,006,402
Balance, amount at Dec. 31, 2022	(381,920)	$ 20,006		609,614	(1,011,540)
Net loss	(47,670)	$ 0	$ 0	0	(47,670)
Balance, shares at Dec. 31, 2023		20,006,402
Balance, amount at Dec. 31, 2023	$ (429,590)	$ 20,006		$ 609,614	$ (1,059,210)

General Information

General Information	12 Months Ended
	Dec. 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 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 (“Elevated Throne”) and operated the business in the agritech sector in the People’s Republic of China. The Company divested Elevated Throne to One Bio, Corp. (“ONE”) on April 14, 2010. In March 2012, Global Funds Holdings Corp. (“Global Funds”) an Ontario, Canada corporation became a majority stockholder of the Company. 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	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Summary Of Significant Accounting Policies	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 (“US GAAP”). 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 does not exceed the government-insured limits as of December 31, 2023. Income Taxes The Company accounts for income taxes in accordance with FASB ASC Topic 740 “ Income Taxes U.S. GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. U.S. GAAP requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a “more-likely-than-not” threshold would be recorded as a tax expense in the current year. The Company identifies its major tax jurisdictions as the U.S. for Federal tax purposes and Delaware for state tax purposes. The Company has concluded that there are no significant tax positions requiring recognition, measurement or disclosure in the financial statements for all open tax years. Tax years which are considered open by the relevant jurisdiction are subject to potential examination. 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. In the Company’s financial statements Fair Value is carrying amount. 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.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2023
Going Concern
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 with losses of $47,670 as of December 31, 2023. The Company’s ability to continue as a going concern is dependent on continued support from a related party. This gives rise to substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months after the issuance of these financial statements.

Amount Due to a Related Company

Amount Due to a Related Company	12 Months Ended
	Dec. 31, 2023
Amount Due to a Related Company
Amount Due to a Related Company	4. Amount Due to a Related party The Company relies on a related party to advance funds to fund its operating expenses. As of December 31, 2023 and 2022, the amounts advanced of $424,590 and $381,920 respectively are interest-free, unsecured and are repayable upon demand. In addition, the Chief Executive Officer, Chief Financial Officer and Director of the Company is also a director of the related party.

Preferred StockCommon Stock

Preferred StockCommon Stock	12 Months Ended
	Dec. 31, 2023
Preferred StockCommon Stock
Preferred Stock/Common Stock	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 December 31, 2023 and 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 year ended December 31, 2023 and 2022, the Company did not issue any shares of common stock or warrants.

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2023
Income Tax
Income Tax	6. Income Tax As of December 31, 2023, the Company had net operating loss carry forwards of approximately $1,023,500 that may be available to reduce future years’ taxable income through 2039. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. The valuation allowance decreased by approximately $1,000 to reflect state tax rate of 5.5%. The provision for Federal income tax consists of the following for the years ended December 31, 2023 and December 31, 2022: December 31, December 31, 2023 2022 Federal income tax benefit attributable to: Net loss $ (12,394 ) $ (8,450 ) Change in tax estimates - - Less: valuation allowance 12,394 8,450 Net provision for Federal income taxes $ - $ - The cumulative tax effect at the expected rate of 21% for 2023 and 21% for 2022 of significant items comprising our net deferred tax amount is as follows as of December 31, 2023 and December 31, 2022: December 31, December 31, 2023 2022 Deferred tax asset attributable to: Net operating loss carryover $ 258,844 $ 246,450 Less: valuation allowance (258,844 ) (246,450 ) Net deferred tax asset $ - $ - Due to the change in ownership in March 2012, the net operating loss carry forwards as of December 31, 2011 of $213,844 may be subject to limitations in accordance with Sec 382 of the provisions of the Tax Reform Act of 1986 for Federal income tax purposes. Tax return for the years ended December 31, 2023, 2022, 2021 and 2020 remain open to and it by Federal and State Tax Authorities.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
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 (“US GAAP”).
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 does not exceed the government-insured limits as of December 31, 2023.
Income Taxes	The Company accounts for income taxes in accordance with FASB ASC Topic 740 “ Income Taxes U.S. GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. U.S. GAAP requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a “more-likely-than-not” threshold would be recorded as a tax expense in the current year. The Company identifies its major tax jurisdictions as the U.S. for Federal tax purposes and Delaware for state tax purposes. The Company has concluded that there are no significant tax positions requiring recognition, measurement or disclosure in the financial statements for all open tax years. Tax years which are considered open by the relevant jurisdiction are subject to potential examination.
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. In the Company’s financial statements Fair Value is carrying amount. 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.

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax
Schedule of Provision for income taxes	December 31, December 31, 2023 2022 Federal income tax benefit attributable to: Net loss $ (12,394 ) $ (8,450 ) Change in tax estimates - - Less: valuation allowance 12,394 8,450 Net provision for Federal income taxes $ - $ -
Schedule of Deferred tax assets	December 31, December 31, 2023 2022 Deferred tax asset attributable to: Net operating loss carryover $ 258,844 $ 246,450 Less: valuation allowance (258,844 ) (246,450 ) Net deferred tax asset $ - $ -

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Going Concern
Net loss	$ (47,670)	$ (32,533)

Amount Due to a Related Party (

Amount Due to a Related Party (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Amount Due to a Related Party (Details Narrative)
Amount due to related party	$ 424,590	$ 381,920

Preferred StockCommon Stock (De

Preferred StockCommon Stock (Details Narrative) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Preferred StockCommon Stock
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	250,000,000	250,000,000
Voting rights shares	1,000
Preferred stock convertible into shares	1,000

Income Tax (Details)

Income Tax (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Federal income tax benefit attributable to:
Net loss	$ (12,394)	$ (8,450)
Change in tax estimates	0	0
Less: valuation allowance	12,394	8,450
Net provision for Federal income taxes	$ 0	$ 0

Income Tax (Details 1)

Income Tax (Details 1) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax asset attributable to:
Net operating loss carryforwards	$ 258,844	$ 246,450
Less: valuation allowance	(258,844)	(246,450)
Net deferred tax asset	$ 0	$ 0

Income Tax (Details Narrative)

Income Tax (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2011
Income Tax
Net operating loss carry forwards	$ 1,023,500		$ 213,844
Description of asset and allowances	The valuation allowance decreased by approximately $1,000 to reflect state tax rate of 5.5%
Cumulative tax effect rate	21%	21%