Green Hygienics (GRYN) 10-Q 18 Jun 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Apr. 30, 2019	Jun. 10, 2019
Document And Entity Information
Entity Registrant Name	Green Hygienics Holdings Inc.
Entity Central Index Key	0001443388
Document Type	10-Q
Document Period End Date	Apr. 30, 2019
Current Fiscal Year End Date	--07-31
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		34,707,835
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Ex Transition Period	false
Entity Shell Company	false

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Apr. 30, 2019	Jul. 31, 2018
Current Assets
Cash	$ 188	$ 132
Prepaid expenses	460	460
Total Assets	648	592
Current Liabilities
Accounts payable and accrued liabilities (Notes 4)	197,504	149,491
Loan payable (Note 3)		18,750
Due to related parties (Note 4)	258,170	172,961
Total Liabilities	455,674	341,202
Stockholder's Deficit
Preferred stock, 20,000,000 shares authorized, $0.001 par value
Common stock, 375,000,000 shares authorized, $0.001 par value 34,707,835 shares issued and outstanding	34,708	34,708
Additional paid-in capital	40,546,930	40,546,930
Deficit	(41,036,664)	(40,922,248)
Total Stockholder's Deficit	(455,026)	(340,610)
Total Liabilities and Stockholder's Deficit	$ 648	$ 592

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2019	Jul. 31, 2018
Stockholder's Deficit
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	375,000,000	375,000,000
Common Stock, shares issued	34,707,835	34,707,835
Common Stock, shares outstanding	34,707,835	34,707,835

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018
Expenses
Consulting fees (Note 4)	$ 45,000	$ 30,000	$ 100,000	$ 90,000
General and administrative	2,096	4,898	12,268	19,949
Total Expenses	47,096	34,898	112,268	109,949
Loss Before Other Income (Expense)	(47,096)	(34,898)	(112,268)	(109,949)
Other Income (Expense)
Gain on forgiveness of debt		39,750		39,750
Interest expense	(716)	(693)	(2,148)	(2,125)
Net Loss and Comprehensive Loss	$ (47,812)	$ 4,159	$ (114,416)	$ (72,324)
Net Loss Per Share, Basic and Diluted
Weighted Average Shares Outstanding	34,707,835	34,707,835	34,707,835	34,707,835

Condensed Statements of Stockho

Condensed Statements of Stockholders' Deficit (unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Deficit	Total
Beginning Balance, Shares at Jul. 31, 2017	34,707,835
Beginning Balance, Amount at Jul. 31, 2017	$ 34,708	$ 40,474,372	$ (40,720,610)	$ (211,530)
Net loss			(72,324)	(72,324)
Ending Balance, Shares at Apr. 30, 2018	34,707,835
Ending Balance, Amount at Apr. 30, 2018	$ 34,708	40,474,372	(40,792,934)	(283,854)
Beginning Balance, Shares at Jan. 31, 2018	34,707,835
Beginning Balance, Amount at Jan. 31, 2018	$ 34,708	40,474,372	(40,797,093)	(288,013)
Net loss			4,159	4,159
Ending Balance, Shares at Apr. 30, 2018	34,707,835
Ending Balance, Amount at Apr. 30, 2018	$ 34,708	40,474,372	(40,792,934)	(283,854)
Beginning Balance, Shares at Jul. 31, 2018	34,707,835
Beginning Balance, Amount at Jul. 31, 2018	$ 34,708	40,546,930	(40,922,248)	(340,610)
Net loss			(114,416)	(114,416)
Ending Balance, Shares at Apr. 30, 2019	34,707,835
Ending Balance, Amount at Apr. 30, 2019	$ 34,708	40,546,930	(41,036,664)	(455,026)
Beginning Balance, Shares at Jan. 31, 2019	34,707,835
Beginning Balance, Amount at Jan. 31, 2019	$ 34,708	40,546,930	(40,988,852)	(407,214)
Net loss			(47,812)	(47,812)
Ending Balance, Shares at Apr. 30, 2019	34,707,835
Ending Balance, Amount at Apr. 30, 2019	$ 34,708	$ 40,546,930	$ (41,036,664)	$ (455,026)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (unaudited) - USD ($)	9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018
Operating Activities
Net loss	$ (114,416)	$ (72,324)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on forgiveness of debt		39,750
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	48,013	10,123
Due to related parties	66,459	22,267
Net Cash Provided By (Used In) Operating Activities	56	(184)
Change in Cash	56	(184)
Cash, Beginning of Period	132	2,749
Cash, End of Period	188	2,565
Non-cash Investing and Financing Activities
Accounts payable transferred to related party		25,551
Loan payable transferred to relayed party	18,750
Supplemental Disclosures:
Interest paid
Income taxes paid

Nature of Operations and Contin

Nature of Operations and Continuance of Business	9 Months Ended
	Apr. 30, 2019
Notes to Financial Statements
Note 1. Nature of Operations and Continuance of Business	Green Hygienics Holdings Inc. (the “Company”) was incorporated in the State of Nevada on June 12, 2008 as Silver Bay Resources, Inc. On June 30, 2010, the name was changed to Takedown Entertainment Inc. On July 24, 2012, the Company changed its name to Green Hygienics Holdings Inc. to pursue alternative energy and other environmentally friendly ventures. These condensed financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated revenues since inception and is unlikely to generate earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As at April 30, 2019, the Company has a working capital deficiency of $455,026 and has an accumulated deficit of $41,036,664 since inception. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These condensed interim financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Apr. 30, 2019
Notes to Financial Statements
Note 2. Significant Accounting Policies	(a) Basis of Presentation The accompanying condensed financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the interim periods are not necessarily indicative of the operating results to be attained in the entire fiscal year. (b) Use of Estimates The preparation of these condensed financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Loan Payable

Loan Payable	9 Months Ended
	Apr. 30, 2019
Notes to Financial Statements
Note 3. Loan Payable	As at April 30, 2019, the Company owes $nil (July 31, 2018 - $18,750) to a non-related party, which is non-interest bearing, unsecured, and due on demand. On November 1, 2018, pursuant to a debt assignment agreement, the debt was assigned to a company controlled by the President of the Company.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Apr. 30, 2019
Notes to Financial Statements
Note 4. Related Party Transactions	(a) As at April 30, 2019, the Company owes $56,824 (July 31, 2018 - $56,824) to a former director of the Company which bears interest at 5% per annum, is unsecured, and is due on demand. In the event of default, the holder may convert the unpaid amount of principal and accrued interest at a price of $0.003 per share of the Company’s common stock. As at April 30, 2019, accrued interest of $14,109 (2018 - $11,961) has been included in accounts payable and accrued liabilities. b) As at April 30, 2019, the Company owes $201,346 (July 31, 2018 - $116,137) to a company controlled by the President of the Company, which is non-interest bearing, unsecured, and due on demand. (c) As at April 30, 2019, the Company owes $22,500 (July 31, 2018 - $nil) to a director of the Company, which is included in accounts payable and accrued liabilities. (d) As at April 30, 2019, the Company owes $12,500 (July 31, 2018 - $nil) to the Chief Technology Officer (“CTO”) of the Company, which is included in accounts payable and accrued liabilities. (e) During the nine months ended April 30, 2019, the Company incurred $22,500 (2018 - $7,500) in consulting fees to a company controlled by the President of the Company. (f) During the nine months ended April 30, 2019, the Company incurred $20,000 (2018 - $nil) in consulting fees to a director of the Company. (g) During the nine months ended April 30, 2019, the Company incurred $20,000 (2018 - $nil) in consulting fees to the CTO.

Commitments

Commitments	9 Months Ended
	Apr. 30, 2019
Notes to Financial Statements
Note 5. Commitments	(a) On September 1, 2018, the Company entered into a consulting agreement with a director of the Company, whereby the Company agreed to pay a consulting fee of $2,500 per month for a period of two years, which can be extended to four years upon mutual agreement. Additionally, the Company will either grant the director 100,000 shares of common stock per year or 100,000 stock options per year to purchase shares of the Company’s common stock priced at 10% below market value at the date of grant. (b) On September 1, 2018, the Company entered into a consulting agreement with the CTO, whereby the Company agreed to pay a consulting fee of $2,500 per month for a period of two years, which can be extended to four years upon mutual agreement. Upon completion of a minimum $1,000,000 financing, the Company will increase this payment to $5,000 per month. Upon completion of a minimum $5,000,000 financing or profitable operations, the Company will increase this payment to an amount mutually agreed upon that reflects the market rate for services provided by the CTO. (c) On September 15, 2018, the Company executed a definitive agreement to acquire a portfolio of IP assets from the CTO, pertaining to the cannabis and urban agriculture industries (the “Asset”). The Asset consists of a destination portal that includes news, reviews, ecommerce and automatic content curation with an integrated E-Commerce system that can be set-up for product sales and marketing. The system is a mobile online directory platform that supports premium listings, self-service, geolocation and reviews and is mobile

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Apr. 30, 2019
Significant Accounting Policies
Basis of Presentation	The accompanying condensed financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the interim periods are not necessarily indicative of the operating results to be attained in the entire fiscal year.
Use of Estimates	The preparation of these condensed financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Recent Accounting Pronouncements	The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details Narrative) - USD ($)	9 Months Ended
	Apr. 30, 2019	Jul. 31, 2018
Nature Of Operations And Continuance Of Business
State of incorporation	Nevada
Date of incorporation	Jun. 12, 2008
Working capital deficit	$ (455,026)
Accumulated deficit	$ (41,036,664)	$ (40,922,248)

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($)	Apr. 30, 2019	Jul. 31, 2018
Loan payable		$ 18,750
Non-related party [Member]
Loan payable		$ 18,750

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2019	Apr. 30, 2018	Apr. 30, 2019	Apr. 30, 2018	Jul. 31, 2018	Jan. 31, 2018
Accrued interest	$ 14,109		$ 14,109			$ 11,961
Consulting fees	$ 45,000	$ 30,000	$ 100,000	$ 90,000
Former Director [Member]
Interest rate	5.00%		5.00%
Event of default, description			In the event of default, the holder may convert the unpaid amount of principal and accrued interest at a price of $0.003 per share of the Company’s common stock
Due to related parties	$ 56,824		$ 56,824		$ 56,824
President [Member]
Due to related parties	201,346		201,346		116,137
Consulting fees			22,500	7,500
Director [Member]
Due to related parties	22,500		22,500		0
Consulting fees			20,000	0
Chief Technology Officer [Member]
Due to related parties	$ 12,500		12,500		$ 0
Consulting fees			$ 20,000	$ 0

Commitments (Details Narrative)

Commitments (Details Narrative) - Consulting Agreement [Member] - September 1, 2018 [Member]	9 Months Ended
	Apr. 30, 2019USD ($)
Director [Member]
Consulting fee payable periodically	$ 2,500
Frequency of periodic payments	Monthly
Term of periodic payments	For a period of two years, which can be extended to four years upon mutual agreement
Description for additional consideration payable under agreement	Additionally, the Company will either grant the director 100,000 shares of common stock per year or 100,000 stock options per year to purchase shares of the Company’s common stock priced at 10% below market value at the date of grant
Chief Technology Officer [Member]
Consulting fee payable periodically	$ 2,500
Frequency of periodic payments	Monthly
Term of periodic payments	For a period of two years, which can be extended to four years upon mutual agreement
Description for terms of agreement	Upon completion of a minimum $1,000,000 financing, the Company will increase this payment to $5,000 per month. Upon completion of a minimum $5,000,000 financing or profitable operations, the Company will increase this payment to an amount mutually agreed upon that reflects the market rate for services provided by the CTO