Evergreen Sustainable Enterprises (EGSE) 10-Q 14 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 14, 2018
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, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Is Entity an Emerging Growth Company	false
Is Entity a Small Business	true
Entity Common Stock, Shares Outstanding		13,205,450
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Cash	$ 45,252	$ 49,437
Rent receivable	500	4,176
Prepaid expenses	1,324
Total current assets	47,076	53,613
Property and equipment, net	781,067	797,557
Other assets:
Security deposits	1,822	1,400
Total assets	829,965	852,570
Liabilities:
Accounts payable	10,935	21,017
Accrued wages	68,212	43,612
Accrued liabilities	61,033	61,788
Accrued interest	1,240	4,505
Note payable, current portion	2,413	11,090
Related party note payable	1,239	9,397
Total current liabilities	145,072	151,409
Long term debt, net of current portion	789,774	789,774
Total liabilities	934,846	941,183
Commitments and contingencies
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	(416,624)	(400,356)
Total shareholders' equity (deficit)	(104,881)	(88,613)
Total liabilities and shareholders' equity (deficit)	$ 829,965	$ 852,570

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Uanudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Commission income	$ 79,027	$ 37,898	$ 207,069	$ 108,198
Property and rental management income	61,877	65,409	204,960	192,319
Revenue	140,904	103,307	412,029	300,517
Operating expenses:
Commision expense	37,327	29,353	100,017	35,817
Professional fees	8,735	6,686	17,463	20,079
General and Administrative	81,643	74,477	266,894	246,617
Total operating expenses	127,705	110,516	384,374	302,513
Operating income (loss)	13,199	(7,209)	27,655	(1,996)
Other income (expense):
Interest Income	4,000		4,000
Gain on legal settlement				14,560
Interest expense	(15,899)	(16,520)	(47,923)	(49,645)
Total other income (expense)	(11,899)	(16,520)	(43,923)	(35,085)
Income (loss) before taxes	1,300	(23,729)	(16,268)	(37,081)
Income tax expense
Net income (loss)	$ 1,300	$ (23,729)	$ (16,268)	$ (37,081)
Basic and diluted loss per share	$ 0	$ (0.01)	$ (0.01)	$ (0.01)
Basic and diluted weighted average common shares outstanding	13,205,450	13,205,450	13,205,450	13,205,450

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Uanudited) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ (16,268)	$ (37,081)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization	16,489	17,150
Changes in operating assets and liabilities:
(Increase) decrease in rent receivable	3,676	(1,586)
(Increase) in prepaid expense	(1,324)	(1,079)
(Increase) in security deposit	(422)
Increase (decrease) in accrued interest related party	(3,265)	1,157
Increase in accrued salary	24,600
Increase (decrease) in accrued liabilities	(755)	9,352
Increase (decrease) in accounts payable	(10,082)	3,895
Net cash (used in) operating activities	12,650	(8,192)
Cash flows from investing activities:
Cash paid for fixed assets
Cash flows from financing activities
Proceeds from related party payable	2,677	2,387
Payment of related party payable	(10,835)	(9,000)
Payment of long term debt	(8,677)	(8,012)
Net cash (used in) financing activities	(16,835)	(14,625)
Net change in cash	(4,185)	(22,817)
Cash, beginning of period	49,437	60,202
Cash, end of period	45,252	37,385
Supplemental disclosure of cash flow information:
Cash paid during the period for Income taxes
Cash paid during the period for Interest	$ 47,823	$ 48,488

1 Basis of Presentation

1 Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 1: Basis of Presentation The accompanying condensed consolidated 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, 2017 financial statements and notes thereto included. The results of operations for the period ended September 30, 2018, are not necessarily indicative of the operating results for the year ended December 31, 2018.

2 Going Concern

2 Going Concern	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Note 2:  Going Concern</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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. </p> <p style="margin: 0pt"> </p>" id="sjs-B4">&lt;p style="margin: 0pt">&#160;&lt;/p> &lt;p style="margin: 0pt">&lt;/p> &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&lt;b>Note 2:&#160;&#160;Going Concern&lt;/b>&lt;/p> &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&lt;b>&#160;&lt;/b>&lt;/p> &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0">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.&#160;&#160;&#160;These factors, among others, may indicate that the Company will be unable to continue as a going concern for a reasonable period of time.&lt;/p> &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&lt;/p> &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.&#160;&#160;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.&#160;&#160;The Company intends to seek additional funding through equity offerings to fund its business plan.&#160;&#160;There is no assurance that the Company will be successful in raising additional funds.&#160;&lt;/p> &lt;p style="margin: 0pt">&#160;&lt;/p>

3 Related Party Transaction

3 Related Party Transaction	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related Party Transaction	Note 3: Related Party Transactions During the nine months ended September 30, 2018, the related party payable had a net decrease of $8,158. The balance of the related party payable was $1,239 and $9,397 as of September 30, 2018 and December 31, 2017, respectively. This payable is due on demand and has an interest rate of 8%. Accrued interest on this payable was $1,240 and $4,505 at September 30, 2018 and December 31, 2017, respectively. Interest expense for the nine months ended September 30, 2018 and 2017 was $100 and $1,157, respectively. Interest expense for the three months ended September 30, 2018 and 2017 was $16 and $411, respectively.

4 Property and Equipment

4 Property and Equipment	9 Months Ended
	Sep. 30, 2018
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, 2018 December 31, 2017 Computer equipment $ 5,672 $ 5,672 Furniture and fixtures 7,777 7,777 Leasehold improvements 4,000 4,000 Warehouse units 861,000 861,000 Accumulated amortization and depreciation (97,382 ) (80,892 ) Net fixed assets $ 781,067 $ 797,557 Depreciation expense was $16,490 and $17,150 for the nine months ended September 30, 2018 and 2017, respectively. Depreciation expense was $5,496 and $5,496 for the three months ended September 30, 2018 and 2017, respectively.

5 Long-Term Debt

5 Long-Term Debt	9 Months Ended
	Sep. 30, 2018
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 $5,937 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, 2018, the balance of the note was $792,187 and the annual maturities of the long-term debt were: Year Ending December 31, 2018 $ 2,413 2019 789,774 $ 795,137

6 Subsequent Events

6 Subsequent Events	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
SUBSEQUENT EVENTS	Note 6: Subsequent Events Subsequent to September 30, 2018, the Company entered into an agreement to manage an additional 50 apartments in Kansas City, Kansas. A management agreement was signed in October to begin managing this property which apartments are comprised of 90 percent subsidized rent and Section 8 programs. The Company has evaluated all other subsequent events pursuant to ASC Topic 855 and has determined that there are no additional 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, 2018
Property, Plant and Equipment [Abstract]
Depreciation	Fixed assets and related depreciation are as follows: September 30, 2018 December 31, 2017 Computer equipment $ 5,672 $ 5,672 Furniture and fixtures 7,777 7,777 Leasehold improvements 4,000 4,000 Warehouse units 861,000 861,000 Accumulated amortization and depreciation (97,382 ) (80,892 ) Total fixed assets $ 781,067 $ 797,557

3 Related Party Transaction (De

3 Related Party Transaction (Details Narrative) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transactions [Abstract]
Decrease in related party payable	$ 9,398
Balance of the related party payable	0	$ 9,398	$ 9,398
Accrued interest on this payable	1,218		$ 4,505
Interest expense	$ 78	$ 369
Interest Rate	8.00%	8.00%	8.00%

4 Property and Equipment (Detai

4 Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 5,496	$ 5,496	$ 16,489	$ 17,150

4 Property and Equipment - Depr

4 Property and Equipment - Depreciation (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Computer equipment	$ 5,672	$ 5,672
Furniture and fixtures	7,777	7,777
Leasehold improvements	4,000	4,000
Warehouse units	861,000	861,000
Accumulated amortization and depreciation	(97,382)	(80,892)
Total property and equipment	$ 781,067	$ 797,557

5 Long-Term Debt - (Details)

5 Long-Term Debt - (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
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)	Dec. 31, 2017USD ($)
Debt Disclosure [Abstract]
2,018	$ 2,413
2,019	789,774
Total maturities for note payable outstanding	$ 795,137

5 Long-Term Debt (Details Narra

5 Long-Term Debt (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
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		$ 809,037