Evergreen Sustainable Enterprises (EGSE) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 14, 2016
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	Sep. 30, 2016
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	Q3
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash	$ 45,827	$ 45,210
Rent receivable	500	500
Prepaid expenses	2,729	706
Total current assets	49,056	46,416
Property and equipment, net	826,172	843,106
Other assets:
Security deposits	1,050	1,050
Total assets	876,278	890,572
Liabilities:
Accounts payable	16,900
Accrued wages	18,612	18,612
Accrued liabilities	70,915	68,187
Accrued interest - related party	3,090	2,781
Note payable, current portion	10,913	13,265
Related party note payable	3,145	9,193
Total current liabilities	123,575	112,038
Long term debt, net of current portion	803,643	811,654
Total liabilities	927,218	923,692
Shareholders' equity (deficit):
Common stock, no par value; 100,000,000 shares authorized, 13,205,450 and 13,205,450 shares issued and outstanding, respectively	215,267	215,267
Additional paid in capital	96,476	96,476
Accumulated deficit	(362,683)	(344,863)
Total shareholder's equity (deficit)	(50,940)	(33,120)
Total liabilities and shareholders' equity (deficit)	$ 876,278	$ 890,572

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Stockholders Equity
Common Stock par value	$ 0	$ 0
Common Stock Authorized	100,000,000	100,000,000
Common Stock Issued	13,205,450	13,205,450
Common Stock Outstanding	13,205,450	13,205,450

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Commission income	$ 44,535	$ 73,928	$ 165,053	$ 147,470
Property and rental management income	59,726	29,391	176,657	140,134
Revenue	104,261	103,319	341,710	287,604
Operating expenses:
Commision expense	4,448	41,257	52,170	71,674
Professional fees	7,713	5,419	33,931	27,760
General and administrative	84,393	61,975	230,060	185,708
Total operating expenses	96,554	108,651	316,161	285,142
Operating income (loss)	7,707	(5,332)	25,549	2,462
Other income (expense)
Other income
Interest expense	(14,418)	(14,738)	(43,369)	(44,318)
Total other income (expense)	(14,418)	(14,738)	(43,369)	(44,318)
Income (loss) before taxes	(6,711)	(20,070)	(17,820)	(41,856)
Income tax expense
Net Income (loss)	$ (6,711)	$ (20,070)	$ (17,820)	$ (41,856)
Basic and diluted (loss) per share	$ 0	$ 0	$ 0	$ 0
Basic and diluted weighted average common shares outstanding	13,205,450	13,205,450	13,205,450	13,205,450

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (17,820)	$ (41,856)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:
Depreciation and amortization	17,874	19,638
Changes in operating assets and liabilities:
Increase in rent receivable		(500)
Increase in prepaid expense	(2,023)	(5,783)
Increase in accrued interest - related party	309	550
Increase in accrued liabilities	2,728	20,778
Increase in accounts payable	16,900	1,248
Net cash provided by (used in) operating activities	17,968	(5,925)
Cash flows from investing activities:
Purchase of fixed assets	(940)	(831)
Net cash used by investing activities	(940)	(831)
Cash flows from financing activities:
Proceeds from related party payable	3,145	1,500
Payment of related party payable	(9,193)
Payment of long term debt	(10,363)	(9,719)
Net cash provided by (used in) financing activities	(16,411)	(8,219)
Net change in cash	617	(14,975)
Cash, beginning of period	45,210	36,848
Cash, end of period	45,827	21,873
Supplemental disclosure of cash flow information:
Cash paid during the period for Income taxes
Cash paid during the period for Interest	$ 32,591

1 Basis of Presentation

1 Basis of Presentation	9 Months Ended
	Sep. 30, 2016
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. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the December 31, 2015 financial statements and notes thereto included. The results of operations for the period ended September 30, 2016, are not necessarily indicative of the operating results for the year ended December 31, 2016.

2 Going Concern

2 Going Concern	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	Note 2: Going Concern The accompanying 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. These factors, among others, may indicate that the Company will be unable to continue as a going concern for a reasonable period of time. The financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern. The Company's continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis and ultimately to attain profitability. The Company intends to seek additional funding through equity offerings to fund its business plan. There is no assurance that the Company will be successful in raising additional funds.

3 Related Party Transaction

3 Related Party Transaction	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Note 3: Related Party Transactions During the nine months ended September 30, 2016, the related party payable had a net decrease of $6,048. During the three months ended September 30, 2016 the related party payable increased $1,887. The balance of the related party payable was $3,145 and $9,193 as of September 30, 2016 and December 31, 2015, respectively. This payable is due on demand and has an interest rate of 8%. Accrued interest on this payable was $3,090 and $2,781 at September 30, 2016 and December 31, 2015, respectively. Interest expense for the nine months ended September 30, 2016 and 2015 was $309 and $505, respectively. Interest expense on this liability for the three months ended September 30, 2016 and 2015 was $125 and $205, respectively.

4 Property and Equipment

4 Property and Equipment	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
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 are as follows: September 30, 2016 December 31, 2015 Computer equipment $ 5,672 $ 5,672 Furniture and fixtures 7,777 6,837 Leasehold improvements 4,000 4,000 Warehouse units 861,000 861,000 Accumulated amortization and depreciation (52,277 ) (34,403 ) Total fixed assets $ 826,172 $ 843,106 Depreciation expense was $17,874 and $17,638 for the nine months ended September 30, 2016 and 2015, respectively. Amortization expense was $0 and $2,000 for the nine months ended September 30, 2016 and 2015, respectively. Depreciation expense was $6,003 and $5,879 for the three months ended September 30, 2016 and 2015, respectively. Amortization expense was $0 and $667 for the three months ended September 30, 2016 and 2015, respectively.

5 Debt

5 Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT	Note 5: 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 $5,937 per month. 2. Third and Fourth year at 8% with 25 year amortization payment at $6,278 per month. 3. Fifth year at 9% with 25 year amortization payment at $6,640 per month. 4. Balloon payment of $777,255 due at end of the fifth year. The note to seller is secured by the three warehouse units. As of September 30, 2016, the balance of the note was $814,556 and the annual maturities of the long-term debt were: Year Ending December 31, 2016 $ 2,902 2017 10,790 2018 11,090 2019 789,774 $ 814,556

6 Subsequent Events

6 Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 6: Subsequent Events On October 25, 2016, the Company entered into a new lease for office space. The space is next door to the Company's current location in a larger space. We are leasing this facility at a monthly payment of $1,400 for the term of the lease which ends on March 31, 2018. The Company has evaluated all other subsequent events pursuant to ASC Topic 855 and has determined that there are no events that require disclosure as of the date of issuance.

4 Property and Equipment (Table

4 Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Fixed assets and related depreciation	Fixed assets and related depreciation are as follows: September 30, 2016 December 31, 2015 Computer equipment $ 5,672 $ 5,672 Furniture and fixtures 7,777 6,837 Leasehold improvements 4,000 4,000 Warehouse units 861,000 861,000 Accumulated amortization and depreciation (52,277 ) (34,403 ) Total fixed assets $ 826,172 $ 843,106

5 Debt (Tables)

5 Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Annual maturities of long-term debt	As of September 30, 2016, the balance of the note was $814,556 and the annual maturities of the long-term debt were: Year Ending December 31, 2016 $ 2,902 2017 10,790 2018 11,090 2019 789,774 $ 814,556

4 Property and Equipment - Depr

4 Property and Equipment - Depreciation (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Computer equipment	$ 5,672	$ 5,672
Furniture and fixtures	7,777	6,837
Leasehold improvements	4,000	4,000
Warehouse units	861,000	861,000
Accumulated amortization and depreciation	(46,274)	(34,403)
Total fixed assets	$ 832,175	$ 843,106

5 Debt - (Details)

5 Debt - (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
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

6 Subsequent Events (Details)

6 Subsequent Events (Details)	Sep. 30, 2016USD ($)
Subsequent Events [Abstract]
Lease for office space	$ 1,400

3 Related Party Transaction (De

3 Related Party Transaction (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Related Party Transactions [Abstract]
Net decrease in related party payable	$ 1,887	$ 6,048
Balance of the related party payable		3,145	$ 9,193
Accrued interest on this payable		3,090	2,781
Interest expense		$ 309	$ 505
Interest Rate		8.00%	8.00%

4 Property and Equipment (Detai

4 Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 6,003	$ 5,879	$ 17,874	$ 17,638
Amortization expense	$ 0	$ 667	$ 0	$ 2,000

5 Debt - (Details Narrative)

5 Debt - (Details Narrative)	Sep. 30, 2016USD ($)
Debt Disclosure [Abstract]
2,016	$ 2,902
2,017	10,790
2,018	11,090
2,019	789,774
Total maturities for note payable outstanding	$ 814,556

5 Debt (Details Narrative)

5 Debt (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2016
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		$ 814,556