Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2014 | Jun. 30, 2014 | Aug. 19, 2014 | |
Document and Entity Information | ' | ' | ' |
Entity Registrant Name | ' | 'GREEN ENDEAVORS, INC. | ' |
Document Type | ' | '10-Q | ' |
Document Period End Date | ' | 30-Jun-14 | ' |
Amendment Flag | ' | 'false | ' |
Entity Central Index Key | ' | '0001487997 | ' |
Current Fiscal Year End Date | ' | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 195,414,505 |
Entity Filer Category | ' | 'Smaller Reporting Company | ' |
Entity Current Reporting Status | ' | 'Yes | ' |
Entity Voluntary Filers | ' | 'No | ' |
Entity Well-known Seasoned Issuer | ' | 'No | ' |
Document Fiscal Year Focus | ' | '2014 | ' |
Document Fiscal Period Focus | ' | 'Q2 | ' |
Entity Incorporation, Date of Incorporation | 25-Apr-02 | 25-Apr-02 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
Current Assets: | ' | ' | ||
Cash | $92,091 | $105,984 | ||
Accounts receivable | 11,729 | 16,534 | ||
Inventory | 137,430 | 144,317 | ||
Total current assets | 241,250 | 266,835 | ||
Property, plant, and equipment, net | 413,945 | 460,503 | ||
Other assets | 81,886 | 63,359 | ||
Total Assets | 737,081 | 790,697 | ||
Current Liabilities: | ' | ' | ||
Accounts payable and accrued expenses | 370,088 | 485,780 | ||
Deferred revenue | 53,580 | 63,830 | ||
Deferred rent | 110,883 | 113,500 | ||
Due to related parties | 121,566 | 109,373 | ||
Derivative liability | 23,079 | 55,099 | ||
Current portion of notes payable | 50,239 | 225,191 | ||
Current portion of related party notes payable | 52,250 | 45,488 | ||
Current portion of capital leases payable | 20,956 | 18,367 | ||
Convertible notes payable, net of debt discount | 107,699 | 99,021 | ||
Total current liabilities | 910,340 | 1,215,649 | ||
Long-Term Liabilities: | ' | ' | ||
Notes payable related party | ' | 6,762 | ||
Notes payable | 48,744 | 59,670 | ||
Capital lease obligations | 23,262 | 34,650 | ||
Convertible debentures related party, net of debt discount | 2,165,589 | 2,197,723 | ||
Convertible debentures, net of debt discount | ' | 489,148 | ||
Total long-term liabilities | 2,237,595 | 2,787,953 | ||
Total Liabilities | 3,147,935 | 4,003,602 | ||
Stockholders' Deficit: | ' | ' | ||
Preferred Stock, value | 10,761 | [1],[2],[3] | 10,562 | [1],[2],[3] |
Common stock, $0.0001 par value, 10,000,000,000 shares authorized; 195,414,505 and 166,572,135 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively | 19,541 | 16,657 | ||
Additional paid-in capital | 610,011 | -116,841 | ||
Accumulated deficit | -3,051,167 | -3,123,283 | ||
Total stockholders' deficit | -2,410,854 | -3,212,905 | ||
Total Liabilities and Stockholders' Deficit | 737,081 | 790,697 | ||
Convertible Supervoting | ' | ' | ||
Stockholders' Deficit: | ' | ' | ||
Preferred Stock, value | 10,000 | 10,000 | ||
Convertible Series B | ' | ' | ||
Stockholders' Deficit: | ' | ' | ||
Preferred Stock, value | 744 | 562 | ||
Undesignated | ' | ' | ||
Stockholders' Deficit: | ' | ' | ||
Preferred Stock, value | ' | ' | ||
[1] | Convertible supervoting preferred stock, $0.001 par value, 10,000,000 shares authorized; 10,000,000 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively; no liquidation value | |||
[2] | Convertible preferred series B stock - $0.001 par value, 2,000,000 shares authorized, 760,488 and 561,704 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively | |||
[3] | Preferred, undesignated stock - $0.001 par value 3,000,000 shares authorized, no shares issued and outstanding at June 30, 2014 and December 31, 2013 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Preferred Stock, Par Value | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 15,000,000 | 15,000,000 |
Preferred Stock, Shares Issued | 10,760,488 | 10,561,704 |
Preferred Stock, Shares Outstanding | ' | ' |
Common Stock, Par Value | $0.00 | $0.00 |
Common Stock, Shares Authorized | 10,000,000,000 | 10,000,000,000 |
Common Stock, Shares Issued | 195,414,505 | 166,572,135 |
Common Stock, Shares Outstanding | 195,414,505 | 166,572,135 |
Convertible Supervoting | ' | ' |
Preferred Stock, Par Value | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Outstanding | 10,000,000 | 10,000,000 |
Convertible Series B | ' | ' |
Preferred Stock, Par Value | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 |
Preferred Stock, Shares Issued | 760,488 | 561,704 |
Preferred Stock, Shares Outstanding | 760,488 | 561,704 |
Undesignated | ' | ' |
Preferred Stock, Par Value | $0.00 | $0.00 |
Preferred Stock, Shares Authorized | 3,000,000 | 3,000,000 |
Preferred Stock, Shares Issued | ' | ' |
Preferred Stock, Shares Outstanding | ' | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Revenue: | ' | ' | ' | ' |
Services, net of discounts | $628,859 | $687,481 | $1,245,426 | $1,308,963 |
Product, net of discounts | 217,550 | 227,003 | 438,448 | 459,834 |
Total revenue | 846,409 | 914,484 | 1,683,874 | 1,768,797 |
Costs and expenses: | ' | ' | ' | ' |
Cost of services | 342,817 | 400,471 | 713,301 | 751,432 |
Cost of product | 136,704 | 104,774 | 265,507 | 242,024 |
Depreciation | 33,105 | 32,386 | 66,031 | 64,953 |
General and administrative | 313,426 | 331,747 | 668,688 | 668,561 |
Total costs and expenses | 826,052 | 869,378 | 1,713,527 | 1,726,970 |
Income (loss) from operations | 20,357 | 45,106 | -29,653 | 41,827 |
Other income (expenses): | ' | ' | ' | ' |
Interest income | 210 | 205 | 417 | 409 |
Interest expense | -11,011 | -23,597 | -42,105 | -59,054 |
Interest expense, related parties | -48,595 | -51,983 | -98,360 | -102,898 |
Gain on derivative fair value adjustment | 24,254 | 11,113 | 32,020 | 5,480 |
Gain on settlement of debt | 205,200 | ' | 212,194 | ' |
Other income (expense) | -1,141 | 76 | -2,397 | 1,232 |
Total other income (expenses) | 168,917 | -64,186 | 101,769 | -154,831 |
Net income (loss) | $189,274 | ($19,080) | $72,116 | ($113,004) |
Basic: | ' | ' | ' | ' |
Basic earnings per common share | $0 | $0 | $0 | $0 |
Weighted-average common shares outstanding | 195,355,209 | 25,016,498 | 184,266,206 | 23,648,448 |
Diluted: | ' | ' | ' | ' |
Diluted earnings per common share | $0 | $0 | $0 | $0 |
Weighted-average common shares outstanding | 2,106,065,006 | 25,016,498 | 2,094,976,002 | 23,648,448 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Cash Flows from Operating Activities: | ' | ' |
Net income (loss) | $72,116 | ($113,004) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation | 66,031 | 64,953 |
Debt discount amortization | 25,791 | 25,818 |
Gain on settlement of debt | -212,194 | ' |
Gain on derivative liability fair value adjustment | -32,020 | -5,480 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 4,805 | -17,949 |
Inventory | 6,887 | -13,507 |
Prepaid expenses | ' | 6,968 |
Other assets | -18,527 | -399 |
Accounts payable and accrued expenses | 80,437 | 6,584 |
Due to related parties | 12,193 | 69,673 |
Deferred rent | -2,617 | 78,182 |
Deferred revenue | -10,250 | -4,018 |
Net cash provided by (used in) operating activities | -7,348 | 97,821 |
Cash Flows from Investing Activities: | ' | ' |
Purchases of property, plant, and equipment | -19,473 | -4,508 |
Net cash used in investing activities | -19,473 | -4,508 |
Cash Flows from Financing Activities: | ' | ' |
Payments made on notes payable | -26,899 | -38,808 |
Payments made on related party notes payable | -38,395 | -74,191 |
Payments made on capital lease obligations | -8,799 | -7,433 |
Proceeds from issuance of notes payable | 12,021 | 38,160 |
Proceeds from issuance of related party notes payable | ' | 37,400 |
Proceeds from issuance of convertible series B preferred stock | 75,000 | ' |
Net cash provided by (used in) financing activities | 12,928 | -44,872 |
Increase (decrease) in cash | -13,893 | 48,441 |
Cash at beginning of period | 105,984 | 105,984 |
Cash at end of period | 92,091 | 154,425 |
Supplemental cash flow information: | ' | ' |
Cash paid during the period for: Interest | 11,120 | 23,324 |
Non-cash investing and financing activities: | ' | ' |
Conversion of debt | ' | 24,675 |
Equipment purchased under capital lease | ' | 6,042 |
Conversion of series B preferred shares to common stock | 2,850 | 539 |
Issuance of series B preferred shares for settlement of related party debt | ' | $160,000 |
Note_1_Nature_of_Operations_an
Note 1 - Nature of Operations and Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 1 - Nature of Operations and Basis of Presentation | ' |
Note 1 – Nature of Operations and Basis of Presentation | |
Business Description | |
Green Endeavors, Inc., (“Green”) owns and operates two hair salons carrying the Aveda product line through its wholly-owned subsidiaries Landis Salons, Inc. (“Landis”) and Landis Salons II, Inc. (“Landis II”) in Salt Lake City, Utah. Green also owns and operates Landis Experience Center LLC (“LEC”), an Aveda retail store in Salt Lake City, Utah. | |
Organization | |
Green Endeavors, Inc. was incorporated under the laws of the State of Delaware on April 25, 2002 as Jasper Holdings.com, Inc. During the year ended December 2004, Green changed its name to Net2Auction, Inc. In July of 2007, Green changed its name to Green Endeavors, Ltd. On August 23, 2010, Green changed its name to Green Endeavors, Inc. and moved the corporate domicile from Delaware to Utah. Green has four classes of stock as follows: common with 10,000,000,000 shares authorized; preferred with 3,000,000 shares authorized; convertible preferred with 2,000,000 shares authorized; and, convertible supervoting preferred with 10,000,000 shares authorized. Green is quoted on the Pink Sheets as an OTCQB issuer under the symbol GRNE. | |
Green is a more than 50% controlled subsidiary of Nexia Holdings, Inc. (“Nexia”). Nexia is quoted on the Pink Sheets under the symbol NXHD and is not currently a reporting company. | |
Landis Salons, Inc., a Utah corporation, was organized on May 4, 2005 for the purpose of operating an Aveda Lifestyle Salon. Landis Salons, Inc. is a wholly-owned subsidiary of Green. | |
Landis Salons II, Inc., a Utah corporation was organized on March 17, 2010 as a wholly-owned subsidiary of Green for the purpose of opening a second Aveda Lifestyle Salon. | |
Landis Experience Center, LLC (“LEC”), a Utah limited liability company, was organized on January 23, 2012 as a wholly-owned subsidiary of Green for the purpose of operating an Aveda retail store in the City Creek Mall in Salt Lake City, Utah. | |
Principles of Consolidation | |
The condensed consolidated financial statements include the accounts of Green and its subsidiaries after elimination of intercompany accounts and transactions. All consolidated subsidiaries are wholly-owned by Green. | |
Use of Estimates in the Preparation of the Financial Statements | |
The condensed consolidated financial statements are prepared in conformity with U.S. GAAP, which requires the use of estimates, judgments and assumptions that affect the amounts of assets and liabilities at the reporting date and the amounts of revenue and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates actual results could differ from the original estimates, requiring adjustments to these balances in future periods. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended | |
Jun. 30, 2014 | ||
Notes | ' | |
Note 2 - Summary of Significant Accounting Policies | ' | |
Note 2 – Summary of Significant Accounting Policies | ||
Cash and Cash Equivalents | ||
Investments with original maturities of three months or less at the time of purchase are considered cash equivalents. As of June 30, 2014 and December 31, 2013, Green had no cash equivalents. | ||
Inventory | ||
Inventory consists of items held for resale and is carried at the lower of cost or market. Cost is determined using the first in, first out (“FIFO”) method. | ||
5 | ||
Property, Plant, and Equipment | ||
Property, plant, and equipment are stated at historical cost. Depreciation is generally provided over the estimated useful lives, using the straight-line method, as follows: | ||
Leasehold improvements | Shorter of the lease term or the estimated useful life | |
Computer equipment and related software | 3 years | |
Furniture and fixtures | 3-10 years | |
Equipment | 3-10 years | |
Vehicle | 7 years | |
Signage | 10 years | |
For the three month periods ended June 30, 2014 and 2013, Green recorded depreciation expense of $33,105 and $32,386, respectively. For the six month periods ended June 30, 2014 and 2013, Green recorded depreciation expense of $66,031 and $64,953, respectively. | ||
Long-Lived Assets | ||
We periodically review the carrying amount of our long-lived assets for impairment. An asset is considered impaired when estimated future cash flows are less than the carrying amount of the asset. In the event the carrying amount of such asset is not considered recoverable, the asset is adjusted to its fair value. Fair value is generally determined based on discounted future cash flow. There were no impairments of long-lived assets during the three and six month periods ended June 30, 2014 and 2013. | ||
Fair Value Measurements | ||
The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: | ||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | ||
Level 2: Observable market-based inputs or inputs that are corroborated by market data. | ||
Level 3: Unobservable inputs that are not corroborated by market data. | ||
Revenue Recognition | ||
There are primary two types of revenue for the Company: 1) providing hair salon services, and 2) selling hair salon products. Revenue is recognized at the time the service is performed or the product is delivered. All revenue sources are domestic. In some cases, such as the sale of gift cards, revenue is deferred until the gift card is redeemed. | ||
Deferred Revenue | ||
Deferred revenue arises when customers pay for products and/or services in advance of revenue recognition. Green’s deferred revenue consists solely of unearned revenue associated with the purchase of gift certificates for which revenue is recognized only when the service is performed or the product is delivered. | ||
Advertising | ||
The Company expenses advertising production costs as they are incurred and advertising communication costs the first time the advertising takes place. For the three month period ended June 30, 2014 and 2013, advertising costs amounted to $26,117 and $19,280, respectively. For the six month period ended June 30, 2014 and 2013, advertising costs amounted to $45,589 and $32,682, respectively. | ||
Stock-Based Compensation | ||
Green recognizes the cost of employee services received in exchange for awards of equity instruments as stock-based compensation expense. Stock-based compensation expense is measured at the grant date based on the fair value of the restricted stock award, option, or purchase right and is recognized as expense, less expected forfeitures, over the requisite service period, which typically equals the vesting period. Because the employee is expected to and has historically received shares of common stock on or about the date of the employee stock option grant date as part of the exercise process, the fair value of each stock issuance is determined using the fair value of Green’s common stock on the grant date. | ||
Income Taxes | ||
Deferred income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Also, Green's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Green is 100% consolidated into its parent company, Nexia, and therefore does not file an income tax return. Its financial amounts are consolidated into the Nexia income tax returns. As of June 30, 2014 and December 31, 2013, a 100% valuation allowance has been placed against the deferred tax asset and therefore is not reflected | ||
on the balance sheets. | ||
Net Income (Loss) Per Share | ||
Net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the specified period. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and potential common shares during the specified period. For three and six months ended June 30, 2014, diluted earnings per common share amounted to $.0000899 and $.0000344. For the three and six months ended June 30, 2013, potential common shares are not included in the diluted net loss per share calculation as their effect would be anti-dilutive. Such potentially dilutive shares are excluded when the effect would be to reduce net loss per share. There were 1,910,709,796 such potentially dilutive shares excluded as of June 30, 2013. | ||
The following table shows the calculation of diluted common shares as of June 30, 2014: | ||
Diluted Shares | ||
Potential shares issued due to conversion of Series B Preferred Stock | 556,471,020 | |
Potential shares issued due to conversion of convertible debt | 354,238,776 | |
Potential shares issued due to conversion of Supervoting shares | 1,000,000,000 | |
Total potentially dilutive shares | 1,910,709,796 | |
Common shares outstanding | 195,414,505 | |
Total diluted shares | 2,106,124,301 | |
Reclassification of Financial Statement Accounts | ||
Certain amounts in the December 31, 2013 financial statements have been reclassified to conform to the presentation in the June 30, 2014 financial statements. | ||
Recent Accounting Pronouncements | ||
Management believes the impact of recently issued standards and updates, which are not yet effective, will not have a material impact on Green’s consolidated financial position, results of operations or cash flows upon adoption. |
Note_3_Inventory
Note 3 - Inventory | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 3 - Inventory | ' |
Note 3 – Inventory | |
Green’s inventory consists of items held for resale and product that is used in services by the Landis and Landis II salons. Inventory is carried at the lower of cost or market. As of June 30, 2014 and December 31, 2013, inventory amounted to $137,430 and $144,317, respectively. |
Note_4_Fair_Value_Measurements
Note 4 - Fair Value Measurements | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Notes | ' | ||||
Note 4 - Fair Value Measurements | ' | ||||
Note 4 – Fair Value Measurements | |||||
Our financial assets and (liabilities) carried at fair value measured on a recurring basis as of June 30, 2014 and December 31, 2013, consisted of the following: | |||||
Total fair | Quoted prices | Significant other | Significant | ||
value at | in active | observable | unobservable | ||
June 30, | markets | inputs | inputs | ||
Description | 2014 | (Level) | (Level 2) | (Level) | |
Derivative liability (1) | ($23,079) | $- | ($23,079) | $- | |
Total fair | Quoted prices | Significant other | Significant | ||
value at | in active | observable | unobservable | ||
December 31, | markets | inputs | inputs | ||
Description | 2013 | (Level) | (Level 2) | (Level) | |
Derivative liability (1) | ($55,099) | $- | ($55,099) | $- |
Note_5_Derivative_Liability
Note 5 - Derivative Liability | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 5 - Derivative Liability | ' |
Note 5 – Derivative Liability | |
As of June 30, 2014, the Company had a $23,079 derivative liability balance on the balance sheet, and for the six months ended June 30, 2014, the Company recorded a $32,020 gain from derivative liability fair value adjustment. The derivative liability activity comes from convertible notes payable as follows: | |
Eastshore Enterprises, Inc. | |
On August 17, 2012, Green issued a $35,000 Convertible Promissory Note to Eastshore Enterprises, Inc. (“Eastshore Note”) that matures August 17, 2014. The Eastshore Note bears interest at a rate of 8% per annum and can be convertible into Green’s common shares, at the holder’s option, at the conversion rate of 54% of the market price (a 46% discount) of the lowest trading price of Green’s common shares during the ten-day period ending one trading day prior to the date of the conversion. Green analyzed the conversion feature of the agreement for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion features should be classified as a derivative because the exercise price of these convertible notes are subject to “reset” provisions in the event the Company subsequently issues common stock, stock warrants, stock options or convertible debt with a stock price, exercise price or conversion price lower than conversion price of these notes. If these provisions are triggered, the conversion price of the note will be reduced. The Company has determined that the conversion feature is not considered to be solely indexed to the Company’s own stock and is therefore not afforded equity treatment. In accordance with AC 815, the Company has bifurcated the conversion feature of the note and recorded a derivative liability. | |
The embedded derivative for the Eastshore Note is carried on Green’s balance sheet at fair value. The derivative liability is marked-to-market each measurement period and any unrealized change in fair value is recorded as a component of the income statement and the associated fair value carrying amount on the balance sheet is adjusted by the change. Green fair values the embedded derivative using the Black-Scholes option pricing model. The fair value of the derivative at the inception date of the Eastshore Note was $63,636. Of the total, $35,000 was recorded as a debt discount, which is up to but not more than the net proceeds of the note. $28,636 was charged to operations as non-cash interest expense. The fair value of $63,636 was recorded as a derivative liability on the balance sheet. | |
The debt discount for the Eastshore Note is amortized over the life of the note (approximately two years). On June 30, 2014, Green marked-to-market the fair value of the derivative liabilities related to the Eastshore Note and determined an aggregate fair value of $23,079 and recorded a $32,020 gain from change in fair value of derivative for the six month period ended June 30, 2014. The fair value of the embedded derivative for the note was determined using the Black-Scholes option pricing model based on the following assumptions: (1) dividend yield of 0%, (2) expected volatility of 223%, (3) risk-free interest rate of 0.04%, (4) expected life of .13 years, and (5) estimated fair value of Green’s common stock of $0.002 per share. |
Note_6_Related_Party_Transacti
Note 6 - Related Party Transactions | 6 Months Ended | ||
Jun. 30, 2014 | |||
Notes | ' | ||
Note 6 - Related Party Transactions | ' | ||
Note 6 – Related Party Transactions | |||
On April 30, 2008, Green entered into a stock transfer agreement with its parent company Nexia and Nexia’s wholly-owned subsidiary DHI whereby they would each sell their holdings in Landis and Newby in exchange for an 8% Series A Senior Subordinated Convertible Debenture with a face amount of $3,000,000. Interest on the debenture commenced on December 30, 2008. DHI has the option, at any time, to convert all or any amount over $10,000 of principal face amount and accrued interest into shares of Common stock, $0.0001 par value per share, at a conversion price equal to 95% of the average closing bid price of the Common stock three days prior to the date notice is received by Green. Green determined that there is a beneficial conversion feature for the debt and recorded a debt discount of $150,000 on April 30, 2008, which is being amortized for 10 years to the maturity date of the debenture. In December 2009, Nexia converted $125,000 of the debenture into common stock of Green and during 2010 Green paid $15,200 of principal on the debenture. During 2010, Nexia sold $500,000 of its holdings of the debenture to unrelated parties for cash thus leaving the related and unrelated party portions of the debenture at $2,359,800 and $500,000, respectively for a total amount of $2,859,800. As of June 30, 2014 and December 31, 2013, the entire amount is considered long-term. The following table shows the related and unrelated party amounts of the debenture and their respective amortized debt discount amounts as of June 30, 2013 and December 31, 2013: | |||
June 30, | December 31, | ||
2014 | 2013 | ||
Convertible Debenture - Related Party | |||
Principal amount | $2,213,591 | $2,251,986 | |
Debt discount | -48,002 | -54,263 | |
Convertible debenture, net of debt discount | $2,165,589 | $2,197,723 | |
Convertible Debenture - Unrelated Party | |||
Principal amount | $- | $500,000 | |
Debt discount | - | -10,852 | |
Convertible debenture, net of debt discount | $- | $489,148 | |
Convertible Debenture - Totals | |||
Principal amount | $2,213,591 | $2,751,986 | |
Debt discount | -48,002 | -65,115 | |
Convertible debenture, net of debt discount | $2,165,589 | $2,686,871 | |
The following table summarizes the related party amounts of principal and accrued interest on the Convertible Debentures as of June 30, 2014 and December 31, 2013: | |||
June 30, | December 31, | ||
2014 | 2013 | ||
Principal balance | $2,213,591 | $2,251,986 | |
Accrued interest | 44,151 | - | |
Total | $2,257,742 | $2,251,986 | |
As of June 30, 2014, amounts due to related parties are $121,566, which consists of $44,151 of accrued interest from the convertible debenture as shown in the table above, $1,722 of accrued interest for the note payable to Nexia, $75,147 owed to three subsidiaries of Nexia, $546 of accrued interest owed to Richard Surber. |
Note_7_Cancellation_of_Convert
Note 7 - Cancellation of Convertible Note Payable | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 7 - Cancellation of Convertible Note Payable | ' |
Note 7 – Cancellation of Convertible Note Payable | |
On May 12, 2006, Green borrowed $171,000 from Xing Investment Corp with a convertible promissory note. The note had accrued interest of $34,200 as of June 2, 2014 for a total of principal and accrued interest of $205,200. Green has been advised by counsel that it is no longer obligated to pay the liability as a result of the passage of time pursuant to the statute of limitations. Therefore, Green recognized a $205,200 gain from the cancellation of the debt on June 2, 2014. |
Note_8_Stockholders_Deficit
Note 8 - Stockholders' Deficit | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 8 - Stockholders' Deficit | ' |
Note 8 – Stockholders’ Deficit | |
Preferred Stock | |
Green is authorized to issue 15,000,000 shares of preferred stock (par value $.001 per share). Green’s preferred stock may be divided into such series as may be established by the Board of Directors. As of June 30, 2014, Green has designated 12,000,000 of the preferred stock into two series as follows: 2,000,000 shares of Convertible Series B Preferred and 10,000,000 shares of Convertible Supervoting Preferred. | |
The Preferred Stock is classified as equity as long as there are sufficient shares available to effect the conversion. In some instances certain contracts may pass the option to receive cash or common stock to the shareholder. In this case, it is assumed that a cash settlement will occur and balance sheet classification of the affected Preferred Stock and related preferred paid-in capital as a liability. | |
Convertible Supervoting Preferred Stock | |
Each share of the Convertible Supervoting Preferred Stock is convertible into 100 shares of Green’s Common stock and has the voting rights equal to 100 shares of common stock. | |
During the six month period ended June 30, 2014, there were no issuances or conversions of Convertible Supervoting Preferred shares. | |
As of June 30, 2014 and December 31, 2013, Green had 10,000,000 and 10,000,000 shares of Convertible Supervoting Preferred stock issued and outstanding, respectively. | |
Convertible Series B Preferred Stock | |
Each share of Green’s Convertible Series B Preferred Stock has one vote per share and is convertible into $5.00 worth of common stock. The number of common shares received is based on the average closing bid market price of Green's common stock for the five days before conversion notice date by the shareholder. Convertible Series B Preferred Stock shareholders, at the option of Green, can receive cash or common stock upon conversion. | |
During the six month period ended June 30, 2014, the Board of Directors approved the conversions of 33,672 shares of Convertible Series B Preferred Stock in to 28,842,370 shares of Common Stock of the Company. The shares were converted at prices ranging from $0.00340 to $0.00646 per share based on the conversion provisions for the Series B Preferred Stock designation. | |
During the six month period ended June 30, 2014, the Board of Directors approved the sale of 43,333 shares of Convertible Series B Preferred Stock to three investors for $75,000. | |
On March 28 2014, the Board of Directors approved the issuance of a total of 189,123 shares of the Company's Convertible Preferred Series B Stock in exchange for cancellation of the principal and accrued interest of the five, $100,000 each, 8% Series A Senior Subordinated Convertible Redeemable Debentures (the "Debentures"). The Debentures were held by two unrelated parties and amounted to $500,000 in principal and $161,929 of accrued interest for a total of $661,929. the Company recognized a gain of $6,994 on the transaction. | |
As of June 30, 2014 and December 31, 2013, Green had 760,488 and 561,704 shares of Convertible Series B Preferred stock issued and outstanding, respectively. | |
Common Stock | |
Green is authorized to issue 10,000,000,000 shares of common stock (par value $0.0001 per share). | |
As of June 30, 2014 and December 31, 2013, Green had 195,414,505 and 166,572,135 shares of common stock issued and outstanding, respectively. | |
Note_9_Concentration_of_Risk
Note 9 - Concentration of Risk | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 9 - Concentration of Risk | ' |
Note 9 – Concentration of Risk | |
Supplier Concentrations | |
The Company purchases most of its salon inventory that is used for service and product sales from Aveda. Aveda product purchases for the six months ended June 30, 2014 and 2013 accounted for approximately 99% and 99%, respectively, of salon products purchased. |
Note_10_Going_Concern
Note 10 - Going Concern | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 10 - Going Concern | ' |
Note 10 – Going Concern | |
Generally accepted accounting principles in the United States of America contemplate the continuation of Green as a going concern. As of and for the six months ended June 30, 2014, Green had negative working capital of $669,090 and net income of $72,116, respectively, which raises substantial doubt about Green’s ability to continue as a going concern. Green’s ability to continue as a going concern is contingent upon the successful completion of additional financing arrangements and its ability to successfully fulfill its business plan. Management plans to attempt to raise additional funds to finance the operating and capital requirements of Green through a combination of equity and debt financings. While Green is making its best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be sufficient for operations. |
Note_11_Subsequent_Events
Note 11 - Subsequent Events | 6 Months Ended |
Jun. 30, 2014 | |
Notes | ' |
Note 11 - Subsequent Events | ' |
Note 11 – Subsequent Events | |
In accordance with ASC 855-10 Company management reviewed all material events through the date of this report and there are no additional material subsequent events to report. |
Note_1_Nature_of_Operations_an1
Note 1 - Nature of Operations and Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Policies | ' |
Principles of Consolidation | ' |
Principles of Consolidation | |
The condensed consolidated financial statements include the accounts of Green and its subsidiaries after elimination of intercompany accounts and transactions. All consolidated subsidiaries are wholly-owned by Green. | |
Use of Estimates in The Preparation of The Financial Statements | ' |
Use of Estimates in the Preparation of the Financial Statements | |
The condensed consolidated financial statements are prepared in conformity with U.S. GAAP, which requires the use of estimates, judgments and assumptions that affect the amounts of assets and liabilities at the reporting date and the amounts of revenue and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates actual results could differ from the original estimates, requiring adjustments to these balances in future periods. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Policies) | 6 Months Ended | |
Jun. 30, 2014 | ||
Policies | ' | |
Cash and Cash Equivalents | ' | |
Cash and Cash Equivalents | ||
Investments with original maturities of three months or less at the time of purchase are considered cash equivalents. As of June 30, 2014 and December 31, 2013, Green had no cash equivalents. | ||
Inventory | ' | |
Inventory | ||
Inventory consists of items held for resale and is carried at the lower of cost or market. Cost is determined using the first in, first out (“FIFO”) method. | ||
Property, Plant, and Equipment | ' | |
Property, Plant, and Equipment | ||
Property, plant, and equipment are stated at historical cost. Depreciation is generally provided over the estimated useful lives, using the straight-line method, as follows: | ||
Leasehold improvements | Shorter of the lease term or the estimated useful life | |
Computer equipment and related software | 3 years | |
Furniture and fixtures | 3-10 years | |
Equipment | 3-10 years | |
Vehicle | 7 years | |
Signage | 10 years | |
For the three month periods ended June 30, 2014 and 2013, Green recorded depreciation expense of $33,105 and $32,386, respectively. For the six month periods ended June 30, 2014 and 2013, Green recorded depreciation expense of $66,031 and $64,953, respectively. | ||
Long-lived Assets | ' | |
Long-Lived Assets | ||
We periodically review the carrying amount of our long-lived assets for impairment. An asset is considered impaired when estimated future cash flows are less than the carrying amount of the asset. In the event the carrying amount of such asset is not considered recoverable, the asset is adjusted to its fair value. Fair value is generally determined based on discounted future cash flow. There were no impairments of long-lived assets during the three and six month periods ended June 30, 2014 and 2013. | ||
Fair Value Measurements | ' | |
Fair Value Measurements | ||
The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: | ||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | ||
Level 2: Observable market-based inputs or inputs that are corroborated by market data. | ||
Level 3: Unobservable inputs that are not corroborated by market data. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
There are primary two types of revenue for the Company: 1) providing hair salon services, and 2) selling hair salon products. Revenue is recognized at the time the service is performed or the product is delivered. All revenue sources are domestic. In some cases, such as the sale of gift cards, revenue is deferred until the gift card is redeemed. | ||
Deferred Revenue | ' | |
Deferred Revenue | ||
Deferred revenue arises when customers pay for products and/or services in advance of revenue recognition. Green’s deferred revenue consists solely of unearned revenue associated with the purchase of gift certificates for which revenue is recognized only when the service is performed or the product is delivered. | ||
Advertising | ' | |
Advertising | ||
The Company expenses advertising production costs as they are incurred and advertising communication costs the first time the advertising takes place. For the three month period ended June 30, 2014 and 2013, advertising costs amounted to $26,117 and $19,280, respectively. For the six month period ended June 30, 2014 and 2013, advertising costs amounted to $45,589 and $32,682, respectively. | ||
Stock-based Compensation | ' | |
Stock-Based Compensation | ||
Green recognizes the cost of employee services received in exchange for awards of equity instruments as stock-based compensation expense. Stock-based compensation expense is measured at the grant date based on the fair value of the restricted stock award, option, or purchase right and is recognized as expense, less expected forfeitures, over the requisite service period, which typically equals the vesting period. Because the employee is expected to and has historically received shares of common stock on or about the date of the employee stock option grant date as part of the exercise process, the fair value of each stock issuance is determined using the fair value of Green’s common stock on the grant date. | ||
Income Taxes | ' | |
Income Taxes | ||
Deferred income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Also, Green's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Green is 100% consolidated into its parent company, Nexia, and therefore does not file an income tax return. Its financial amounts are consolidated into the Nexia income tax returns. As of June 30, 2014 and December 31, 2013, a 100% valuation allowance has been placed against the deferred tax asset and therefore is not reflected | ||
Net Income (loss) Per Share | ' | |
Net Income (Loss) Per Share | ||
Net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the specified period. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and potential common shares during the specified period. For three and six months ended June 30, 2014, diluted earnings per common share amounted to $.0000899 and $.0000344. For the three and six months ended June 30, 2013, potential common shares are not included in the diluted net loss per share calculation as their effect would be anti-dilutive. Such potentially dilutive shares are excluded when the effect would be to reduce net loss per share. There were 1,910,709,796 such potentially dilutive shares excluded as of June 30, 2013. | ||
The following table shows the calculation of diluted common shares as of June 30, 2014: | ||
Diluted Shares | ||
Potential shares issued due to conversion of Series B Preferred Stock | 556,471,020 | |
Potential shares issued due to conversion of convertible debt | 354,238,776 | |
Potential shares issued due to conversion of Supervoting shares | 1,000,000,000 | |
Total potentially dilutive shares | 1,910,709,796 | |
Common shares outstanding | 195,414,505 | |
Total diluted shares | 2,106,124,301 | |
Reclassification of Financial Statement Accounts | ' | |
Reclassification of Financial Statement Accounts | ||
Certain amounts in the December 31, 2013 financial statements have been reclassified to conform to the presentation in the June 30, 2014 financial statements. | ||
Recent Accounting Pronouncements | ' | |
Recent Accounting Pronouncements | ||
Management believes the impact of recently issued standards and updates, which are not yet effective, will not have a material impact on Green’s consolidated financial position, results of operations or cash flows upon adoption. |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies: Property, Plant, and Equipment: Property, Plant, and Equipment, Depreciation schedule (Tables) | 6 Months Ended | |
Jun. 30, 2014 | ||
Tables/Schedules | ' | |
Property, Plant, and Equipment, Depreciation schedule | ' | |
Leasehold improvements | Shorter of the lease term or the estimated useful life | |
Computer equipment and related software | 3 years | |
Furniture and fixtures | 3-10 years | |
Equipment | 3-10 years | |
Vehicle | 7 years | |
Signage | 10 years |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies: Net Income (loss) Per Share: Schedule of Calculation of Diluted Common Shares (Tables) | 6 Months Ended | |
Jun. 30, 2014 | ||
Tables/Schedules | ' | |
Schedule of Calculation of Diluted Common Shares | ' | |
Diluted Shares | ||
Potential shares issued due to conversion of Series B Preferred Stock | 556,471,020 | |
Potential shares issued due to conversion of convertible debt | 354,238,776 | |
Potential shares issued due to conversion of Supervoting shares | 1,000,000,000 | |
Total potentially dilutive shares | 1,910,709,796 | |
Common shares outstanding | 195,414,505 | |
Total diluted shares | 2,106,124,301 |
Note_4_Fair_Value_Measurements1
Note 4 - Fair Value Measurements: Fair Value Measurements, Recurring (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Tables/Schedules | ' | ||||
Fair Value Measurements, Recurring | ' | ||||
Total fair | Quoted prices | Significant other | Significant | ||
value at | in active | observable | unobservable | ||
June 30, | markets | inputs | inputs | ||
Description | 2014 | (Level) | (Level 2) | (Level) | |
Derivative liability (1) | ($23,079) | $- | ($23,079) | $- | |
Total fair | Quoted prices | Significant other | Significant | ||
value at | in active | observable | unobservable | ||
December 31, | markets | inputs | inputs | ||
Description | 2013 | (Level) | (Level 2) | (Level) | |
Derivative liability (1) | ($55,099) | $- | ($55,099) | $- |
Note_6_Related_Party_Transacti1
Note 6 - Related Party Transactions: Schedule of Related and Unrelated Party Debentures (Tables) | 6 Months Ended | ||
Jun. 30, 2014 | |||
Tables/Schedules | ' | ||
Schedule of Related and Unrelated Party Debentures | ' | ||
June 30, | December 31, | ||
2014 | 2013 | ||
Convertible Debenture - Related Party | |||
Principal amount | $2,213,591 | $2,251,986 | |
Debt discount | -48,002 | -54,263 | |
Convertible debenture, net of debt discount | $2,165,589 | $2,197,723 | |
Convertible Debenture - Unrelated Party | |||
Principal amount | $- | $500,000 | |
Debt discount | - | -10,852 | |
Convertible debenture, net of debt discount | $- | $489,148 | |
Convertible Debenture - Totals | |||
Principal amount | $2,213,591 | $2,751,986 | |
Debt discount | -48,002 | -65,115 | |
Convertible debenture, net of debt discount | $2,165,589 | $2,686,871 |
Note_6_Related_Party_Transacti2
Note 6 - Related Party Transactions: Schedule Of Related Party Principal and Accrued Interest (Tables) | 6 Months Ended | ||
Jun. 30, 2014 | |||
Tables/Schedules | ' | ||
Schedule Of Related Party Principal and Accrued Interest | ' | ||
June 30, | December 31, | ||
2014 | 2013 | ||
Principal balance | $2,213,591 | $2,251,986 | |
Accrued interest | 44,151 | - | |
Total | $2,257,742 | $2,251,986 | |
Note_1_Nature_of_Operations_an2
Note 1 - Nature of Operations and Basis of Presentation (Details) | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Date of Incorporation | 25-Apr-02 | 25-Apr-02 | ' |
Common Stock, Shares Authorized | ' | 10,000,000,000 | 10,000,000,000 |
Preferred Stock, Shares Authorized | ' | 15,000,000 | 15,000,000 |
Landis Salons Inc | ' | ' | ' |
Date of Incorporation | ' | 4-May-05 | ' |
Landis Salons II Inc | ' | ' | ' |
Date of Incorporation | ' | 17-Mar-10 | ' |
Landis Experience Center LLC | ' | ' | ' |
Date of Incorporation | ' | 23-Jan-12 | ' |
Undesignated | ' | ' | ' |
Preferred Stock, Shares Authorized | ' | 3,000,000 | 3,000,000 |
Series B | ' | ' | ' |
Preferred Stock, Shares Authorized | ' | 2,000,000 | ' |
Note_2_Summary_of_Significant_4
Note 2 - Summary of Significant Accounting Policies: Property, Plant, and Equipment: Property, Plant, and Equipment, Depreciation schedule (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Leased Equipment | ' |
Property, Plant and Equipment, Estimated Useful Lives | 'Shorter of the lease term or the estimated useful life |
Computer Equipment | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Furniture and Fixtures | Minimum | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Furniture and Fixtures | Maximum | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Equipment | Minimum | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Equipment | Maximum | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Vehicles | ' |
Property, Plant and Equipment, Useful Life | '7 years |
Building and Building Improvements | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Note_2_Summary_of_Significant_5
Note 2 - Summary of Significant Accounting Policies: Property, Plant, and Equipment (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Details | ' | ' | ' | ' |
Depreciation | $33,105 | $32,386 | $66,031 | $64,953 |
Note_2_Summary_of_Significant_6
Note 2 - Summary of Significant Accounting Policies: Advertising (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Details | ' | ' | ' | ' |
Advertising Expense | $26,117 | $19,280 | $45,589 | $32,682 |
Note_2_Summary_of_Significant_7
Note 2 - Summary of Significant Accounting Policies: Net Income (loss) Per Share (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Details | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,910,709,796 |
Note_2_Summary_of_Significant_8
Note 2 - Summary of Significant Accounting Policies: Net Income (loss) Per Share: Schedule of Calculation of Diluted Common Shares (Details) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Potential shares issued due to conversion of convertible debt | 354,238,776 | ' |
Total potentially dilutive shares | 1,910,709,796 | ' |
Common Stock, Shares Outstanding | 195,414,505 | 166,572,135 |
Total diluted shares | 2,106,124,301 | ' |
Series B Preferred Stock | ' | ' |
Potential shares issued due to conversion of Preferred Stock | 556,471,020 | ' |
Convertible Supervoting Preferred Stock | ' | ' |
Potential shares issued due to conversion of Preferred Stock | 1,000,000,000 | ' |
Note_3_Inventory_Details
Note 3 - Inventory (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Details | ' | ' |
Inventory | $137,430 | $144,317 |
Note_4_Fair_Value_Measurements2
Note 4 - Fair Value Measurements: Fair Value Measurements, Recurring (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Derivative liability | ($23,079) | ($55,099) |
Fair Value, Inputs, Level 1 | ' | ' |
Derivative liability | 0 | 0 |
Fair Value, Inputs, Level 2 | ' | ' |
Derivative liability | -23,079 | -55,099 |
Fair Value, Inputs, Level 3 | ' | ' |
Derivative liability | $0 | $0 |
Note_5_Derivative_Liability_De
Note 5 - Derivative Liability (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Aug. 17, 2012 | |
Eastshore Note | Eastshore Note | ||||||
Convertible Debt Securities | Convertible Debt Securities | ||||||
Derivative liability | $23,079 | ' | $23,079 | ' | $55,099 | ' | ' |
Gain on derivative fair value adjustment | 24,254 | 11,113 | 32,020 | 5,480 | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | 35,000 |
Interest Rate | ' | ' | ' | ' | ' | ' | 8.00% |
Debt Instrument, Convertible, Conversion Ratio | ' | ' | ' | ' | ' | 0.54 | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' | ' | ' | ' | ' | 63,636 |
Debt discount, current | ' | ' | ' | ' | ' | ' | 35,000 |
Non-cash interest expense | ' | ' | 25,791 | 25,818 | ' | 28,636 | ' |
Debt Instrument, Fair Value Disclosure | ' | ' | ' | ' | ' | 23,079 | ' |
Gain (loss) on derivative fair value adjustment | ' | ' | $32,020 | $5,480 | ' | $32,020 | ' |
Fair Value Measurements, Valuation Techniques | ' | ' | ' | ' | ' | 'Black-Scholes option pricing model | ' |
Dividend yield | ' | ' | ' | ' | ' | 0.00% | ' |
Expected volatility | ' | ' | ' | ' | ' | 223.00% | ' |
Risk-free interest rate | ' | ' | ' | ' | ' | 0.04% | ' |
Expected life | ' | ' | ' | ' | ' | '13 years | ' |
Estimated fair value of Green's common stock | ' | ' | ' | ' | ' | $0.00 | ' |
Note_6_Related_Party_Transacti3
Note 6 - Related Party Transactions (Details) (USD $) | 6 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2010 | Dec. 31, 2009 | Apr. 30, 2008 | |
Nexia Holdings | Three subsidiaries of Nexia | Richard Surber | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | ||||
Stock Transfer Agreement | Stock Transfer Agreement | Stock Transfer Agreement | Stock Transfer Agreement | |||||||
Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | $3,000,000 | ' | ' | ' |
Debt Instrument, Convertible, Terms of Conversion Feature | ' | ' | ' | ' | ' | ' | 'DHI has the option, at any time, to convert all or any amount over $10,000 of principal face amount and accrued interest into shares of Common stock, $0.0001 par value per share, at a conversion price equal to 95% of the average closing bid price of the Common stock three days prior to the date notice is received by Green. | ' | ' | ' |
Debt discount, current | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 |
Debt Instrument, Convertible, Remaining Discount Amortization Period | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' |
Conversion of debt | 24,675 | ' | ' | ' | ' | ' | ' | ' | 125,000 | ' |
Repayments of Debt | ' | ' | ' | ' | ' | ' | ' | 15,200 | ' | ' |
Debt instrument, holdings sold to unrelated parties for cash | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' |
Notes payable related party | ' | ' | 6,762 | ' | ' | ' | ' | 2,359,800 | ' | ' |
Notes payable | ' | 48,744 | 59,670 | ' | ' | ' | ' | 500,000 | ' | ' |
Principal Amount | ' | ' | ' | ' | ' | ' | ' | 2,859,800 | ' | ' |
Due to related parties | ' | 121,566 | 109,373 | ' | ' | ' | ' | ' | ' | ' |
Interest Payable, Current | ' | ' | ' | $1,722 | $75,147 | $546 | ' | ' | ' | ' |
Note_6_Related_Party_Transacti4
Note 6 - Related Party Transactions: Schedule of Related and Unrelated Party Debentures (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Convertible debenture, net of debt discount | $2,165,589 | $2,197,723 |
Convertible debenture, net of debt discount | ' | 489,148 |
Convertible Debt Securities | ' | ' |
Principal Amount | 2,213,591 | 2,751,986 |
Debt discount | -48,002 | -65,115 |
Convertible Subordinated Debt, Current | 2,165,589 | 2,686,871 |
Convertible Debenture - Related Party | ' | ' |
Principal Amount | 2,213,591 | 2,251,986 |
Debt discount | -48,002 | -54,263 |
Convertible Debenture - Unrelated Party | ' | ' |
Principal Amount | 0 | 500,000 |
Debt discount | 0 | -10,852 |
Convertible debenture, net of debt discount | $0 | $489,148 |
Note_6_Related_Party_Transacti5
Note 6 - Related Party Transactions: Schedule Of Related Party Principal and Accrued Interest (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Convertible notes payable, net of debt discount | $107,699 | $99,021 |
Convertible Debenture - Related Party | ' | ' |
Principal Amount | 2,213,591 | 2,251,986 |
Interest Payable, Current | 44,151 | 0 |
Convertible notes payable, net of debt discount | $2,257,742 | $2,251,986 |
Note_7_Cancellation_of_Convert1
Note 7 - Cancellation of Convertible Note Payable (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2014 | Jun. 02, 2014 | 12-May-06 | |
Xing Investment Corp | Xing Investment Corp | |||
Debt Instrument, Face Amount | ' | ' | ' | $171,000 |
Interest Payable, Current | ' | ' | 34,200 | ' |
Principal Amount | ' | ' | 205,200 | ' |
Gain on settlement of debt | $205,200 | $212,194 | ' | ' |
Note_8_Stockholders_Deficit_De
Note 8 - Stockholders' Deficit (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Preferred Stock, Shares Authorized | 15,000,000 | 15,000,000 | ' | 15,000,000 |
Preferred Stock, Par Value | $0.00 | $0.00 | ' | $0.00 |
Preferred Stock, Shares Outstanding | ' | ' | ' | ' |
Proceeds from issuance of convertible series B preferred stock | ' | $75,000 | ' | ' |
Conversion of debt | ' | ' | 24,675 | ' |
Gain on settlement of debt | 205,200 | 212,194 | ' | ' |
Common Stock, Shares Authorized | 10,000,000,000 | 10,000,000,000 | ' | 10,000,000,000 |
Common Stock, Par Value | $0.00 | $0.00 | ' | $0.00 |
Common Stock, Shares Outstanding | 195,414,505 | 195,414,505 | ' | 166,572,135 |
Series A Senior Subordinated Convertible Redeemable Debentures | ' | ' | ' | ' |
Conversion of debt | ' | 661,929 | ' | ' |
Principal | Series A Senior Subordinated Convertible Redeemable Debentures | ' | ' | ' | ' |
Conversion of debt | ' | 500,000 | ' | ' |
Gain on settlement of debt | ' | 6,994 | ' | ' |
Interest | Series A Senior Subordinated Convertible Redeemable Debentures | ' | ' | ' | ' |
Conversion of debt | ' | 161,929 | ' | ' |
Common Stock | ' | ' | ' | ' |
Conversion of Stock, Shares Issued | ' | 28,842,370 | ' | ' |
Common Stock | Minimum | ' | ' | ' | ' |
Conversion Price | $0.00 | $0.00 | ' | ' |
Common Stock | Maximum | ' | ' | ' | ' |
Conversion Price | $0.01 | $0.01 | ' | ' |
Series B Preferred Stock | ' | ' | ' | ' |
Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 | ' | ' |
Preferred Stock, Shares Outstanding | 760,488 | 760,488 | ' | 561,704 |
Convertible Preferred Stock, Terms of Conversion | ' | 'Each share of Green’s Convertible Series B Preferred Stock has one vote per share and is convertible into $5.00 worth of common stock. The number of common shares received is based on the average closing bid market price of Green's common stock for the five days before conversion notice date by the shareholder. Convertible Series B Preferred Stock shareholders, at the option of Green, can receive cash or common stock upon conversion | ' | ' |
Conversion of Stock, Shares Converted | ' | 33,672 | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | 43,333 | ' | ' |
Proceeds from issuance of convertible series B preferred stock | ' | $75,000 | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued | ' | 189,123 | ' | ' |
Convertible Supervoting | ' | ' | ' | ' |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | ' | 10,000,000 |
Preferred Stock, Par Value | $0.00 | $0.00 | ' | $0.00 |
Convertible Preferred Stock, Shares Issued upon Conversion | 100 | 100 | ' | ' |
Preferred Stock, Shares Outstanding | 10,000,000 | 10,000,000 | ' | 10,000,000 |
Note_9_Concentration_of_Risk_D
Note 9 - Concentration of Risk (Details) (Supplier Concentration Risk) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Supplier Concentration Risk | ' | ' |
Concentration Risk, Percentage | 99.00% | 99.00% |
Note_10_Going_Concern_Details
Note 10 - Going Concern (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Details | ' | ' | ' | ' |
Working Capital | ($669,090) | ' | ($669,090) | ' |
Net income (loss) | $189,274 | ($19,080) | $72,116 | ($113,004) |