Global Green (GOGC) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 06, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	GLOBAL GREEN INC.
Entity Central Index Key	1,522,724
Trading Symbol	gogc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		745,761,432
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 432	$ 7,833
Travel advances to officer	2,000	2,000
Total current assets	2,432	9,833
Intangible asset, net	5,291	5,459
Total assets	7,723	15,292
Current liabilities:
Accounts payable and accrued expenses	20,867	18,328
Due to shareholders	500	500
Convertible advance- related party (see Note 6)	247,908	221,908
Total liabilities	$ 269,275	$ 240,736
Commitments and Contingencies (see Note 7)
Shareholders' deficit:
Preferred stock; no par value; 100,000,000 shares authorized; no shares outstanding at June 30, 2015 or December 31, 2014
Common stock; $.00001 par value; 3,000,000,000 shares authorized; 745,761,432 shares issued and outstanding at June 30, 2015 and December 31, 2014	$ 7,458	$ 7,458
Additional paid in capital	285,573	285,573
Accumulated deficit	(554,583)	(518,475)
Total shareholders' deficit	(261,552)	(225,444)
Total liabilities and shareholders' deficit	$ 7,723	$ 15,292

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) (Parentheticals) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares outstanding
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized	3,000,000,000	3,000,000,000
Common stock, shares issued	745,761,432	745,761,432
Common stock, shares outstanding	745,761,432	745,761,432

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
REVENUES
OPERATING EXPENSES
Professional fees	$ 6,778	$ 3,864	$ 26,071	$ 12,891
Interest expense (see Note 6)	3,049	2,600	6,031	5,600
General and administrative	1,293	3,397	2,693	8,073
Stock transfer agent fees	575	450	1,025	1,650
Amortization	84	84	168	168
Bank Fees	90		120
Investor Relations		3,000		6,000
Vaccine testing		5,000		5,000
Total operating expenses	11,869	18,395	36,108	39,382
NET LOSS	$ (11,869)	$ (18,395)	$ (36,108)	$ (39,382)
Net loss per share applicable to common stockholders - basic and diluted (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding - basic and diluted (in shares)	745,761,432	745,761,432	745,761,432	745,761,432

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock	Additional Paid in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2013	$ 7,458	$ 285,573	$ (428,382)	$ (135,351)
Balance (shares) at Dec. 31, 2013	745,761,432
Increase Decrease In Stockholders Equity [Roll Forward]
Net loss			(90,093)	(90,093)
Balance at Dec. 31, 2014	$ 7,458	285,573	(518,475)	$ (225,444)
Balance (shares) at Dec. 31, 2014	745,761,432			745,761,432
Increase Decrease In Stockholders Equity [Roll Forward]
Net loss			(36,108)	$ (36,108)
Balance at Jun. 30, 2015	$ 7,458	$ 285,573	$ (554,583)	$ (261,552)
Balance (shares) at Jun. 30, 2015	745,761,432			745,761,432

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (36,108)	$ (39,382)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization	168	168
Change in assets and liabilities:
Prepaid expenses		750
Travel advances to officer		4,000
Accounts payable and accrued expenses	2,539	3,129
Net cash used in operating activities	(33,401)	(31,335)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds (payments) from convertible advance - related party	26,000	(39,000)
Net cash provided by (used in) financing activities	26,000	(39,000)
NET CHANGE IN CASH	(7,401)	(70,335)
CASH, beginning of period	7,833	113,532
CASH, end of period	$ 432	43,197
SUPPLEMENTAL DISCLOSURES:
Cash Paid for Interest		$ 5,630

NATURE OF ORGANIZATION

NATURE OF ORGANIZATION	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF ORGANIZATION	NOTE 1 NATURE OF ORGANIZATION Global Green, Inc. (the "Company") is a Florida Corporation incorporated on July 12, 2004 (inception) as a wholly owned subsidiary of Global Assets & Services, Inc. In September 2004, the Company was spun out into a separate legal entity. The Company changed its name from The Global Tech Assets, Inc. to Global Green, Inc. in April 2010 and its fiscal period end is December 31. Under the Share Exchange Agreement executed on November 29, 2010, between the Company and Nutritional Health Institute, LLC ("NHIL"), the Company acquired 100% of the issued and outstanding stock of Global Green International, Inc. ("GGII"), a wholly owned subsidiary of NHIL. At the same time, the Company issued approximately 683 million shares of its common stock, representing 93% of the ownership of the Company, to NHIL. After the above mentioned acquisition as per the Share Exchange Agreement, the Company has become a majority-owned subsidiary of NHIL. As the effective control over GGII did not change, in accordance with the Financial Accounting Standards Board's ("FASB") Accounting Standards Codification ("ASC") 805 Business Combinations, GGII, a wholly-owned subsidiary of the Company, has been granted the exclusive worldwide rights (the "Licensing Agreement") to manufacture, distribute, market and sell a Salmonella Antigen and Vaccine (the "Vaccine"). The Licensing Agreement was executed between NHIL and GGII before the Company acquired the 100% ownership of GGII and is the only asset of GGII. In February 2011, the Vaccine entered into the final phase of becoming a United States Department of Agriculture ("USDA") approved vaccine for the in ovo vaccination of chicken eggs to provide immunity against Salmonella bacteria. In May 2011, the United States Patent and Trademark Office granted a patent for the method and composition in the Vaccine. In August 2011, an additional patent was granted related to the vaccine.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2015
Going Concern [Abstract]
GOING CONCERN	NOTE 2 GOING CONCERN These consolidated financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the foreseeable future. As of , 2015, the Company has incurred net losses of $554,583 and a net working capital deficit of $266,843 since inception. Management's plans include raising capital through the equity markets to fund operations and eventually, the generating of revenue through its business; however, there can be no assurance that the Company will be successful in such activities. These consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classifications of the liabilities that might be necessary should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") on the accrual basis of accounting. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported in the consolidated financial statements. The significant accounting policies, estimates and related judgments underlying the Company's consolidated financial statements are summarized below. In applying these policies, management makes subjective judgments that frequently require estimates about matters that are inherently uncertain. Actual results could differ materially from those estimates. Cash and Cash Equivalents The Company considers all investments with a maturity date of three months or less when purchased to be cash equivalents. There were no cash equivalents at June 30, 2015 and December 31, 2014. Revenue Recognition The Company recognizes revenue on arrangements in accordance with Securities and Exchange Commission Staff Accounting Bulletin Topic 13, Revenue Recognition Revenue Recognition Earnings Per Share The Company has adopted ASC 260-10-50, Earnings Per Share, Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. Occasionally, cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation ("FDIC"). Accordingly, the Company places its cash and cash equivalents with financial institutions considered by management to be of high credit quality. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Additionally, the recognition of future tax benefits, such as net operating loss carryforwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities 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 tax expense in the period that includes the enactment date. In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company's assets and liabilities result in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. The Company files income tax returns in the United States and Florida, which are subject to examination by the tax authorities in these jurisdictions. Generally, the statute of limitations related to the Company's federal and state income tax return is three years. The state impact of any federal changes for prior years remains subject to examination for a period up to five years after formal notification to the states. Management has evaluated tax positions in accordance with ASC 740, Income Taxes, Subsequent Events In accordance with ASC 855, Subsequent Events

INTANGIBLE ASSET

INTANGIBLE ASSET	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSET	NOTE 4 INTANGIBLE ASSET The Company accounts for its intangible asset in accordance FASB ASC 350 Intangibles—Goodwill and Other Business Combinations, Components of intangible assets at the periods ended are as follows: June 30 , 2015 December 31, 2014 License Agreement $ 6,831 $ 6,831 Accumulated amortization (1,540 ) (1,372 ) Intangible assets, net $ 5,291 $ 5,459

TAXES

TAXES	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
TAXES	NOTE 5 TAXES The components of income tax benefit for the years ended are as follows: June 30 , 2015 June 30 , 2014 Current tax benefit $ (13,577 ) $ (14,808 ) Change in valuation allowance 13,577 14,808 $ - $ - The difference between income tax benefit computed by applying the statutory federal income tax rate to earnings before taxes for the years ended are as follows: June 30 , 2015 June 30 , 2014 Pretax loss at federal statutory rate $ (12,277 ) $ (13,390 ) State income benefit, net of federal benefit (1,300 ) (1,418 ) Change in valuation allowance 13,577 14,808 $ - $ - The components of deferred taxes are as follows: June 30 , 2015 December 31, 2014 Deferred income tax assets: Operating loss carryforwards $ 208,525 $ 194,948 Less: Valuation allowance (208,525 ) (194,948 ) $ - $ - At , 2015 and December 31, 2014, a valuation allowance was established for the entire amount of the net deferred tax asset as the realization of the deferred tax asset is dependent on future taxable income. At June 30, 2015, the Company had net operating loss carryforwards for tax purposes of $554,583 which will expire beginning in 2031, if not previously utilized.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND COMMITMENTS	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND COMMITMENTS	NOTE 6 RELATED PARTY TRANSACTIONS AND COMMITMENTS On January 15, 2013, the Company entered into a convertible advance with the Company's Chief Executive Officer and Chairman. The advance, with a face value of $300,000, bears interest at 5% per annum and is payable on demand. The advance is convertible, at the holder's option, into the Company's common or preferred shares based on the value of the shares at the execution date of the advance. The convertible advance is valued at the greater of the face value of the advance or the fair value of the shares, if converted. At June 30, 2015 and December 31, 2014, the convertible advance was recorded at $247,908 and $221,908, respectively. Accrued interest related to this advance was $11,454 and $5,423 at June 30, 2015 and December 31, 2014, respectively, and is included in accounts payable and accrued expenses on the consolidated balance sheets. The Company has exclusive rights to the Licensing Agreement with NHIL, the Company's majority shareholder, in which its wholly-owned subsidiary, GGII, assumes the financial responsibility for the acquisition and maintenance of all patents, as well as USDA's approval of Vaccines.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 7 CONTINGENCIES During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with ASC 450-20-50, Contingencies.

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") on the accrual basis of accounting. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported in the consolidated financial statements. The significant accounting policies, estimates and related judgments underlying the Company's consolidated financial statements are summarized below. In applying these policies, management makes subjective judgments that frequently require estimates about matters that are inherently uncertain. Actual results could differ materially from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all investments with a maturity date of three months or less when purchased to be cash equivalents. There were no cash equivalents at June 30, 2015 and December 31, 2014.
Revenue Recognition	Revenue Recognition The Company recognizes revenue on arrangements in accordance with Securities and Exchange Commission Staff Accounting Bulletin Topic 13, Revenue Recognition Revenue Recognition
Earnings Per Share	Earnings Per Share The Company has adopted ASC 260-10-50, Earnings Per Share,
Concentrations	Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. Occasionally, cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation ("FDIC"). Accordingly, the Company places its cash and cash equivalents with financial institutions considered by management to be of high credit quality.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Additionally, the recognition of future tax benefits, such as net operating loss carryforwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities 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 tax expense in the period that includes the enactment date. In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company's assets and liabilities result in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. The Company files income tax returns in the United States and Florida, which are subject to examination by the tax authorities in these jurisdictions. Generally, the statute of limitations related to the Company's federal and state income tax return is three years. The state impact of any federal changes for prior years remains subject to examination for a period up to five years after formal notification to the states. Management has evaluated tax positions in accordance with ASC 740, Income Taxes,
Subsequent Events	Subsequent Events In accordance with ASC 855, Subsequent Events

INTANGIBLE ASSET (Tables)

INTANGIBLE ASSET (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of components of intangible assets	June 30 , 2015 December 31, 2014 License Agreement $ 6,831 $ 6,831 Accumulated amortization (1,540 ) (1,372 ) Intangible assets, net $ 5,291 $ 5,459

TAXES (Tables)

TAXES (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of components of income tax benefit	June 30 , 2015 June 30 , 2014 Current tax benefit $ (13,577 ) $ (14,808 ) Change in valuation allowance 13,577 14,808 $ - $ -
Schedule of difference between income tax expense computed by applying the statutory federal income tax rate	June 30 , 2015 June 30 , 2014 Pretax loss at federal statutory rate $ (12,277 ) $ (13,390 ) State income benefit, net of federal benefit (1,300 ) (1,418 ) Change in valuation allowance 13,577 14,808 $ - $ -
Schedule of components of deferred taxes	June 30 , 2015 December 31, 2014 Deferred income tax assets: Operating loss carryforwards $ 208,525 $ 194,948 Less: Valuation allowance (208,525 ) (194,948 ) $ - $ -

NATURE OF ORGANIZATION (Detail

NATURE OF ORGANIZATION (Detail Textuals) - Nov. 29, 2010 - Nutritional Health Institute, LLC ("NHIL") - shares shares in Millions	Total
Licensing Agreement | Global Green International Inc
Nature Of Organization [Line Items]
Percentage of issued and outstanding stock acquired	100.00%
Share Exchange Agreement
Nature Of Organization [Line Items]
Common stock shares issued under acquisition	683
Percentage of ownership acquired	93.00%
Share Exchange Agreement | Global Green International Inc
Nature Of Organization [Line Items]
Percentage of issued and outstanding stock acquired	100.00%

GOING CONCERN (Detail Textuals)

GOING CONCERN (Detail Textuals) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Going Concern [Abstract]
Accumulated net losses since inception	$ 554,583	$ 518,475
Net working capital deficit	$ 266,843

INTANGIBLE ASSET - Components o

INTANGIBLE ASSET - Components of intangible assets (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
License Agreement	$ 6,831	$ 6,831
Accumulated amortization	(1,540)	(1,372)
Intangible assets, net	$ 5,291	$ 5,459

INTANGIBLE ASSET (Detail Textua

INTANGIBLE ASSET (Detail Textuals) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 29, 2010	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 84	$ 84	$ 168	$ 168
Amortization expense for each of next five year				$ 336
Licensing Agreement
Finite-Lived Intangible Assets [Line Items]
Useful life of the patent	20 years
Licensing Agreement | Nutritional Health Institute, LLC ("NHIL") | Global Green International Inc
Finite-Lived Intangible Assets [Line Items]
Percentage of issued and outstanding stock acquired	100.00%

TAXES - Components of income ta

TAXES - Components of income tax benifit (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
components of income tax benefit
Current tax benefit	$ (13,577)	$ (14,808)
Change in valuation allowance	$ 13,577	$ 14,808
Income tax expense

TAXES - The difference between

TAXES - The difference between income tax expense computed by applying the statutory federal income tax rate to earnings before taxes (Details 1) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Pretax loss at federal statutory rate	$ (12,277)	$ (13,390)
State income benefit, net of federal benefit	(1,300)	(1,418)
Change in valuation allowance	$ 13,577	$ 14,808
Income tax expense

TAXES - Components of deferred

TAXES - Components of deferred taxes (Details 2) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Deferred income tax assets:
Operating loss carryforwards	$ 208,525	$ 194,948
Less: Valuation allowance	$ (208,525)	$ (194,948)
Net deferred tax asset

TAXES (Detail Textuals)

TAXES (Detail Textuals)	Jun. 30, 2015USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 554,583

RELATED PARTY TRANSACTIONS AN25

RELATED PARTY TRANSACTIONS AND COMMITMENTS (Detail Textuals) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jan. 15, 2013
Related Party Transaction [Line Items]
Convertible advance - related party	$ 247,908	$ 221,908
Chief Executive Officer And Chairman | Convertible advance
Related Party Transaction [Line Items]
Convertible advance, face value			$ 300,000
Convertible advance, interest rate			5.00%
Convertible advance - related party	247,908	221,908
Chief Executive Officer And Chairman | Convertible advance | Accounts payable and accrued liabilities
Related Party Transaction [Line Items]
Accrued interest	$ 11,454	$ 5,423