Evergreen Sustainable Enterprises (EGSE) 10-Q 15 Aug 16 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 14, 2015
Document And Entity Information
Entity Registrant Name	Home Treasure Finders, Inc.
Entity Central Index Key	1,527,102
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		13,205,450
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash	$ 28,988	$ 36,848
Rent receivable	24,000
Prepaid asset	1,198	753
Total current assets	54,186	37,601
Property and equipment, net	854,455	867,547
Other assets:
Security deposits	1,050	1,050
Total assets	909,691	906,198
Liabilities:
Accounts payable	30,795	9,462
Accrued wages	18,612	18,612
Accrued liabilities	60,673	52,128
Accrued interest	2,370	2,025
Note payable, current portion	13,406	13,003
Related party note payable	10,193	8,693
Total current liabilities	136,049	103,923
Long term debt	818,071	824,919
Total liabilities	954,120	928,842
Shareholders' equity (deficit):
Common stock, no par value; 100,000,000 shares authorized, 13,205,450 and 11,725,450 shares issued and outstanding, respectively	215,267	215,267
Additional paid in capital	96,476	96,476
Accumulated deficit	(356,172)	(334,387)
Total shareholder's equity (deficit)	(44,429)	(22,644)
Total liabilities and shareholders' equity (deficit)	$ 909,691	$ 906,198

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Stockholders Equity
Common Stock par value	$ 0	$ 0
Common Stock Authorized	100,000,000	100,000,000
Common Stock Issued	13,205,450	11,725,450
Common Stock Outstanding	13,205,450	11,725,450

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Commission income	$ 56,137	$ 25,691	$ 73,542	$ 56,744
Property management income	58,904	14,274	110,742	26,737
Revenue	115,041	39,965	184,284	83,481
Operating expenses:
Commision expense	27,177	11,815	30,417	25,040
Professional fees	8,349	10,830	22,341	21,897
General and Administrative	59,994	80,000	123,732	131,595
Total operating expenses	95,520	102,645	176,490	178,532
Operating loss	19,521	(62,680)	7,794	(95,051)
Other Expense
Interest expense	(14,764)	(315)	(29,579)	(465)
Total other expense	(14,764)	(315)	(29,579)	(465)
Net Income (loss)	$ 4,757	$ (62,995)	$ (21,785)	$ (95,516)
Basic and diluted loss per share	$ 0	$ 0	$ 0	$ (0.01)
Basic and diluted weighted average common shares outstanding	13,205,450	13,005,450	13,205,450	12,408,669

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, shares at Dec. 31, 2012	11,725,800
Beginning Balance, value at Dec. 31, 2012	$ 57,302	$ 96,476	$ (190,115)	$ (36,337)
Net Income (loss)			(4,790)	(4,790)
Ending Balance, shares at Dec. 31, 2013	11,725,800
Ending Balance, value at Dec. 31, 2013	$ 57,302	96,476	(194,115)
Common stock issued for services, shares	83,650
Common stock issued for services, value	$ 8,365
Common stock issued for cash, shares	1,196,000
Common stock issued for cash, value	$ 119,600
Net Income (loss)			(95,516)	(95,516)
Ending Balance, shares at Jun. 30, 2014	13,005,450
Ending Balance, value at Jun. 30, 2014	$ 185,267	$ 96,476	$ (290,421)
Beginning Balance, value at Dec. 31, 2014				(22,644)
Net Income (loss)				(21,785)
Ending Balance, value at Jun. 30, 2015				$ (44,429)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (21,785)	$ (95,516)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:
Depreciation and amortization	13,092	631
Common stock issued for services		8,365
Changes in operating assets and liabilities:
Increase in prepaid expense	(24,000)
Increase in other current assets and other assets	(445)	(4,972)
Decrease in accrued salary		(1,050)
Increase in accrued interest	345	465
Increase in accrued liabilities	8,545	1,624
Increase (decrease) in accounts payable	21,333	1,775
Net cash (used in) operating activities	(2,915)	(88,678)
Cash flows from investing activities:
Cash paid for fixed assets		(14,925)
Net cash used in investing activities		(14,925)
Cash flows from financing activities:
Proceeds from common stock sales		119,600
Proceeds from related party payable	1,500	3,350
Payment of related party payable	(6,445)
Net cash provided by financing activities	(4,945)	122,950
Net change in cash	(7,860)	19,347
Cash, beginning of period	36,848	14,205
Cash, end of period	28,988	33,552
Supplemental disclosure of cash flow information:
Cash paid during the period for Income taxes
Cash paid during the period for Interest
NON CASH FINANCING ACTIVITIES:
Common stock issued for services		$ 8,365

1 Basis of Presentation

1 Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Note 1: Basis of Presentation The accompanying financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The interim financial statements reflect all adjustments, consisting of normal recurring adjustments which, in the opinion of management, are necessary to present a fair statement of the results for the period.

2 GOING CONCERN

2 GOING CONCERN	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	Note 2: Going Concern

3 RELATED PARTY TRANSACTIONS

3 RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Note 3: Related Party Transactions

4 Property and Equipment

4 Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
4 Property and Equipment	Note 4: Property and Equipment The Company’s capital assets consist of warehouse units, computer equipment, office furniture and leasehold improvements for the new office. Depreciation and amortization is calculated using the straight-line method over the estimated useful life of the asset, ranging from 18 months to 39 years. Expenditures for additions and improvements are capitalized, while repairs and maintenance costs are expensed as incurred. The cost and related accumulated depreciation of any capital assets that are sold or otherwise disposed of are removed from the accounts and any gain or loss is recorded in the year of disposal. Fixed assets and related depreciation for the six months ended June 30, 2015 are as follows: Computer equipment $ 5,672 Furniture and fixtures 5,253 Leasehold improvements 4,000 Warehouse units 861,000 Accumulated amortization and depreciation (21,470 ) Total fixed assets $ 14,294 Depreciation expense was $11,758 and amortization expense was $1,333 for the six months ended June 30, 2015.

6 SUBSEQUENT EVENTS

6 SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUBSEQUENT EVENTS	Note 6: Subsequent Events The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that the fillowing events require disclosure as of the date of issuance. On May 27, 2015 we filed eviction suits against both our Garfield warehouse tenants. At the hearing before the County Court, the tenant at 4440 Garfield failed to appear and we were awarded possession of 4440 Garfield. Counsel for the tenant at 4420/4430 Garfield made an appearance before the County Court and counter-claimed for damages amounting to $16,000. A possession hearing before the District court was set for August 12, 2015. On July 30, 2015 parties to the litigation executed a Settlement Agreement and Mutual Release, (the "Settlement"), filed as Exhibit 99.1 herewith, which contains numerous provisions fulfillment of which is expected to result in dismissal of the litigation. Major terms provide: 1. Tenant will pay Landlord $24,000 as consideration for the Settlement, and landlord will apply such payment to discharge rent due from Tenant for May, June and July. Tenant's check number 1131, dated July, 30, 2015 for $24,000 has been received by landlord and deposited to landlord's checking account. 2. Tenant will pay landlord $8,000 for August rent before August 3, 2015. 3. Tenant agrees to continue the lease and lease the remainder of landlord's building, i.e. Tenant agrees to immediately take possession of the additional space known as 4440 Garfield and starting September 1, 2015 pay landlord additional monthly rent of $4,000 per month. Settlement provides that Landlord and tenant will formalize this agreement by mutually executing an addendum to that present lease in now effect between landlord and tenant for 4420/4430 Garfield. 4. Various mutual commitments are made and agreed to by tenant and landlord. These include to cooperate and act in good faith to jointly resolve any remaining address issues and disputes regarding the land use regulations of the City and County of Denver. The parties agree to undertake and pay for various property modifications believed by the parties to the litigation to be required by the City and County of Denver with a goal to their mutual efforts to comply with all requirements to obtain a certificate of occupancy for the three units known as 4420/4430/4440 Garfield. Under terms of the Settlement the attorneys will file a "Joint Motion or Stipulation for Dismissal with Prejudice." Once filed, the litigation is terminated.

4 Property and Equipment (Table

4 Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Fixed assets and related depreciation	Computer equipment $ 5,672 Furniture and fixtures 5,253 Leasehold improvements 4,000 Warehouse units 861,000 Accumulated amortization and depreciation (21,470 ) Total fixed assets $ 854,455

5 Long-Term Debt

5 Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
LONG-TERM DEBT	Note 5: Long-Term Debt On September 15, 2014, the Company entered into a promissory note for $840,000 on the purchase three warehouse units known as 4420, 4430 and 4440 Garfield Street, Denver, Colorado. The Company is leasing each of the three separate units to licensed third party growers for cannabis cultivation. The terms of the variable interest 25 year amortization note carried by the seller of the property call for payments to seller as follows: 1 First and Second year interest rate at 7% with 25 year amortization payment at $5,936.95 per month. 2. Third and Fourth year at 8% with 25 year amortization payment at $6,277.73 per month. 3. Fifth year at 9% with 25 year amortization payment at $6,639.64 per month. 4. Balloon payment of $777,255.49 due at end of the fifth year. The note to seller is secured by the three warehouse units. As of June 30, 2015, the balance of the note was $831,477 and the annual maturities of the long-term debt were: Three months ending June 30, 2016 $ 13,406 2017 11,705 2018 11,229 2019 795,137 $ 831,477

3 RELATED PARTY TRANSACTIONS (D

3 RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2013
Related Party Transactions [Abstract]
Payment to related party payable	$ 3,350	$ 17,000
Balance of the related party payable	$ 8,293	$ 4,943
Interest rate	8.00%	8.00%
Accrued interest on this payable	$ 1,711	$ 937
Monthly salary	5,500	2,500
Accrued salary	$ 14,612	$ 22,500

5 Stock Transactions (Details N

5 Stock Transactions (Details Narrative)	6 Months Ended
	Jun. 30, 2015USD ($)$ / sharesshares
Notes to Financial Statements
Value of shares issed in private placement | $ / shares	$ 0.10
Private placement revenue generated | $	$ 119,600
Increase in CEO monthly salary | $	$ 6,000
Shares issued for services | shares	83,650
Per share value of shares issued for services | $ / shares	$ 0.10

4 Property and Equipment - Fixe

4 Property and Equipment - Fixed assets and related depreciation (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Computer equipment	$ 5,672
Furniture and fixtures	5,253
Leasehold improvements	4,000
Warehouse units	861,000
Accumulated amortization and depreciation	(21,470)
Total fixed assets	$ 854,455	$ 867,547

4 Property and Equipment (Detai

4 Property and Equipment (Details Narrative)	6 Months Ended
	Jun. 30, 2015USD ($)
Property, Plant and Equipment [Abstract]
Depreciation	$ 409
Amortization expense	$ 222

5 Long-Term Debt - (Details)

5 Long-Term Debt - (Details)	12 Months Ended
	Dec. 31, 2014USD ($)
Debt Disclosure [Abstract]
First and Second year interest rate	7.00%
First and Second year 25 year amortization monthly payment	$ 5,937
Third and Fourth year interest rate	8.00%
Third and Fourth year 25 year amortization monthly payment	$ 6,278
Fifth year interest rate	9.00%
Fifth year 25 year amortization monthly payment	$ 6,640
Balloon payment at end of the fifth year	$ 777,255

5 Long-Term Debt - (Details Na

5 Long-Term Debt - (Details Narrative)	Mar. 31, 2015USD ($)
Debt Disclosure [Abstract]
2,016	$ 13,406
2,017	11,705
2,018	11,229
2,019	795,137
Total maturities for note payable outstanding	$ 831,477

5 Long-Term Debt (Details Narra

5 Long-Term Debt (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2015
Debt Disclosure [Abstract]
Promissory note for purchase three warehouse units	$ 840,000
Length of time to pay off amortization note	25 years
Balance of the note		$ 831,477