Earth Gen-Biofuel (EGBB) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 13, 2015
Document and Entity Information
Entity Registrant Name	Earth Gen-Biofuel, Inc.
Entity Central Index Key	1,614,924
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		78,613,718
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	$ 2,950	$ 2,092
Prepaid expenses and other receivables	1,514	1,514
Inventories, net	445,962	486,994
Loan receivable	1,100	1,100
Due from related party	58,058	$ 58,058
Due from officer	390
Total Current Assets	509,974	$ 549,758
Property and equipment, net	17,780	19,705
Security deposit	3,294	3,294
Total Assets	531,048	572,757
Current Liabilities
Accounts payable and accrued expenses	$ 101,265	87,340
Notes payable		3,000
Notes payable-related party	$ 9,000	7,000
Convertible notes, net	$ 63,920	31,361
Due to officer		55,641
Total Current Liabilities	$ 174,185	$ 184,342
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding
Common stock, $0.0001 par value, 690,000,000 shares authorized, 78,613,718 and 75,080,817 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively	$ 7,861	$ 7,508
Additional paid-in capital	2,753,881	2,440,387
Accumulated deficit	(2,404,879)	(2,059,480)
Total Stockholders' Equity	356,863	388,415
Total Liabilities and Stockholders' Equity	$ 531,048	$ 572,757

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	690,000,000	690,000,000
Common stock, shares issued	78,613,718	75,080,817
Common stock, shares outstanding	78,613,718	75,080,817

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:
General and administrative	$ 141,823	$ 339,907	$ 251,839	$ 663,929
Inventory reserve	28,466		59,032
Total operating expenses	170,289	$ 339,907	310,871	$ 663,929
Loss from operations	(170,289)	$ (339,907)	(310,871)	$ (663,929)
Other Expense
Interest expense	(17,165)		(34,528)
Total other Expense	(17,165)		(34,528)
Loss before income taxes	$ (187,454)	$ (339,907)	$ (345,399)	$ (663,929)
Provision for income taxes
Net loss	$ (187,454)	$ (339,907)	$ (345,399)	$ (663,929)
Net loss per common share
Basic and diluted	$ 0	$ 0	$ 0	$ (0.01)
Weighted average common shares outstanding
Basic and diluted	76,811,284	70,131,341	75,985,361	74,992,060

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating Activities:
Net loss	$ (345,399)	$ (663,929)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation expense	1,924	$ 629
Amortization of BCF debt discounts	32,559
Inventory reserve	59,032
Stock-based compensation	2,548	$ 186,240
Changes in operating assets and liabilities:
Inventory	$ (18,000)	(350,781)
Prepaid expenses and other receivables		(14,500)
Related party payables	$ 14,669	2,512
Accounts payable and accrued expenses	13,925	(11,237)
Net cash used in operating activities	$ (238,742)	(851,066)
Investing Activities:
Loan advance		(1,100)
Net cash used in investing activities		$ (1,100)
Financing Activities:
Proceeds from notes payable	$ 3,500
Proceeds from related party note payable	9,000
Repayment to notes payable	(6,500)
Proceeds from stock issuances	$ 233,600	$ 831,780
Cash received for stock subscriptions payable		3,800
Net cash provided by financing activities	$ 239,600	835,580
Net increase (decrease) in cash	858	(16,586)
Cash, beginning of period	2,092	154,178
Cash, end of period	$ 2,950	$ 137,592
Cash paid during the period
Interest
Income taxes
Non-cash investing and financing activities:
Conversion of related party payable and notes payable for stock	$ 77,700

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Note 1—Nature of Operations and Basis of Presentation Earth Gen-Biofuel, Inc. (the “Company” or “Earth Gen”) was incorporated in the state of Nevada on August 28, 2012 to pursue the business of becoming an international agricultural company focused on growing plants that are the basis for providing renewable sources for manufacturing processes and energy. On September 25, 2012, Earth Gen entered into an Agreement of Share Exchange and Plan of Reorganization (the “Exchange Agreement”) with EarthBlock Technologies, Inc. (“EarthBlock”), a Nevada publicly traded corporation, pursuant to which EarthBlock acquired 100% of the ownership of the Company in exchange for 63,666,400 shares of EarthBlock’s common stock (the “Exchange”) on the basis of four shares of EarthBlock for one share of Earth Gen outstanding as of October 14, 2012. Upon the completion of the Exchange, Earth Gen operated as a wholly owned subsidiary of EarthBlock and focused its efforts to begin its international agricultural operations. In October of 2012, Earth Gen began to organize farmers and government related agencies in Laos and Vietnam to control land for growing castor beans. Prior to Earth Gen becoming a subsidiary of EarthBlock, Earth Gen’s management had spent over two years creating the relationships and working with local farmers to build an organization and obtain the knowledge and expertise to become a major grower of castor beans in these countries. The common stock of EarthBlock was registered with the SEC under the Exchange Act and was quoted on OTCQB operated by the OTC Markets Group Inc. EarthBlock failed to comply with Exchange Act Section 13(a) because it had not filed any periodic reports with the SEC since the period ended December 31, 2007. EarthBlock consented to a deregistration order of the SEC, and pursuant to Section 12(j) of the Exchange Act, registration of EarthBlock’s common stock was revoked and trading in EarthBlock’s common stock was suspended. Additionally, the shareholders of Earth Gen were not made aware of the full extent of a material liability of EarthBlock that resulted from the operations of EarthBlock’s non-operational subsidiary EarthBlock Texas Homes, Inc. As a result of the liability not being included in proper detail and information regarding its effect on EarthBlock’s financial statements, EarthBlock’s previously disclosed financial condition was inaccurate. On September 25, 2013, the Board of Directors of EarthBlock and of Earth Gen voted to rescind the acquisition of Earth Gen by EarthBlock and authorized the officers of the Corporation to take the steps required to complete the rescission of the Exchange. A rescission agreement dated October 28, 2013 (the “Rescission Agreement”) was entered into by and among EarthBlock, Earth Gen and the shareholders. A majority of Earth Gen shareholders approved the Rescission Agreement on October 28, 2013. The Rescission Agreement sets forth the terms and provisions where the parties agreed to take all steps necessary and proper to unwind the Exchange including the surrender of the Exchange Shares for cancellation and Earth Gen to issue to each Exchange Share shareholder his respective original equity interests in Earth Gen. The Additional Shares will remain outstanding and will ratably dilute the Exchange Share shareholders pre-Exchange, original equity ownership in Earth Gen as a result. The Rescission Agreement offer terminated on October 10, 2014. Pursuant to the terms of the Rescission Agreement, Earth Gen issued a total of 50,645,600 Earth Gen common stock shares to participating holders of Exchange Shares commensurate with the holders’ respective original equity interests in Earth Gen. Earth Gen also issued a total of 7,030,400 Additional Shares. No additional Earth Gen common stock shares will be issued as a result of the rescission of the Reverse Merger. One Shareholder owning 7,560,000 Exchange Shares did not become a party to the Rescission Agreement and will retain his EarthBlock common stock shares and with no equity interest in Earth Gen. In March 2014, Earth Gen-Biofuel Lao Sole Co Ltd (“Earth Gen Laos”) was formed under the laws of Laos to meet Laos’s regulatory and legal requirements to do business in Laos. This company is 100% controlled by Earth Gen. Earth Gen Laos has its own in-country bank accounts denominated in US dollars through which it pays all local operating expenses of the business activities of Earth Gen in Laos.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2015
Going Concern [Abstract]
Going Concern	Note 2—Going Concern These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As of June 30, 2015, the Company has an accumulated deficit since inception. The continuation of the Company as a going concern is dependent upon the continued financial support from its management, and its ability to identify future investment opportunities and obtain the necessary debt or equity financing, and generating profitable operations from the Company’s future operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Note 3—Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. Unaudited Interim Financial Information These unaudited interim financial statements have been prepared in accordance with GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission that permit reduced disclosure for interim periods. Therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, all adjustments of a normal recurring nature necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been made. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2015. The balance sheets and certain comparative information as of December 31, 2014 are derived from the audited financial statements and related notes for the year ended December 31, 2014 (“2014 Annual Financial Statements”), included in the Company’s 2014 Annual Report on Form 10-K. The unaudited interim financial statements should be read in conjunction with the 2014 Annual Financial Statements. Basic and Diluted Loss per Common Share Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted loss per share excludes all dilutive potential shares if their effect is anti-dilutive. The Company has issued common stock purchase warrants and entered into convertible note; however, they are anti-dilutive given the net loss incurred for the periods presented. As a result, 4,889,286 potentially dilutive common stock equivalents (presented post-dividend and post-split) were excluded from the calculation of diluted loss per common share as of June 30, 2015. Therefore, dilutive and basic losses per common share are equal. Inventory Inventory consists of raw materials consisting of castor bean seeds. Inventories are recorded at the lower of cost or market, using the first-in, first-out method. Cost is determined at the actual cost for raw materials. Expenditures on growing crops are valued at the lower of cost or market and are deferred and charged to cost of sales when the related crops are harvested and sold. The deferred growing costs included in inventories in the balance sheets consist primarily of land rental cost and service costs. In assessing the ultimate realization of inventories, the management makes judgments as to future demand requirements compared to current or committed inventory levels. The Company’s reserve requirements generally increase or decrease with its projected demand requirements and market conditions. The Company estimates the demand requirements based on market conditions, forecasts prepared by its customers, sales contracts and orders in hand. In addition, the Company estimates net realizable value based on intended use, current market value and inventory ageing analyses. The Company writes down the inventories for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventories and the estimated market value based upon assumptions about future demand and market conditions. Based on the above assessment, the Company recorded an inventory reserve of $123,352 and $64,320 as of June 30, 2015 and December 31, 2014, respectively. Revenue Recognition Revenue from sales of the Company’s products is recognized upon customer acceptance, which occurs at the time of delivery to the customer, provided persuasive evidence of an arrangement exists, such as signed sales contract, the significant risks and rewards of ownership have been transferred to the buyer at the time when the products are delivered to its customers with no significant post-delivery obligation on our part, the sales price is fixed or determinable and collection is reasonably assured. The Company does not provide its customers with contractual rights of return and post-delivery discount for any of its products. When there is any significant post-delivery performance obligations exists, revenue is recognized only after such obligations are fulfilled. The Company evaluates the terms of sales agreement with its customers in order to determine whether any significant post-delivery performance obligations exist. New Accounting Pronouncements Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. For organizations defined as public business entities, for the first annual period beginning after December 15, 2014, the presentation and disclosure requirements in Topic 915 will no longer be required. The revised consolidation standards are effective one year later, in annual periods beginning after December 15, 2015. Early adoption is permitted. For other organizations, for the first annual period beginning after December 15, 2014, the presentation and disclosure requirements in Topic 915 will no longer be required. The revised consolidation standards are effective two years later, in annual periods beginning after December 15, 2016. Early adoption is permitted. The adoption of this pronouncement will not have a material impact on the Company’s financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which provides guidance regarding management’s responsibility to assess whether substantial doubt exists regarding the ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). This ASU is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. We are currently evaluating the new guidance and have not determined the impact this standard may have on our condensed financial statements. We do not believe there are any other recently issued standards not yet effective that will have a material impact on our financial statements when the standards become effective.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory	Note 4—Inventory Inventory consists of: June 30, December 31, 2015 2014 Seeds $ - $ - Capitalized costs of growing crops 569,314 551,314 Total inventory $ 569,314 $ 551,314 Less: inventory reserve (123,352 ) (64,320 ) Inventory, net $ 445,962 $ 486,994

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5— Property and Equipment Property and equipment consist of: June 30, December 31, 2015 2014 Machinery and equipment $ 11,240 $ 11,240 Automobile 7,000 7,000 Office equipment 4,216 4,216 Total 22,456 22,456 Less: accumulated depreciation (4,676 ) (2,751 ) Property and equipment, net $ 17,780 $ 19,705 For the six months ended June 30, 2015 and 2014, depreciation expenses were $1,924 and $629, respectively.

Due from Related Parties

Due from Related Parties	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Due from Related Parties	Note 6— Due from Related Parties The Company and EarthBlock advance each other monies in the normal course of business. During the period ended December 31, 2014 net funds provided to EarthBlock were $58,058. There have been no new advances for the six month period ended June 30, 2015. The advances do not have a written note, do not accrue interest and are due on demand. As of December 31, 2014, the Company owed $55,641 to George Shen, CEO and shareholder of the Company for accrued service fees and monies advanced to and repaid by the Company in the normal course of business. On June 29, 2015, the Company paid all accrued service fees of $70,700 to Mr. Shen and money advanced by Mr. Shen of $7,000 with the issuance of 1,100,000 shares of the Company’s restricted common stock. As a result, the Company was owed $390 by Mr, Shen as of June 30, 2015. Prior to September 30, 2013, the Company was provided office space at no charge by George Shen, Starting July 1, 2014, the Company has been paying office rent at $3,360 under a month-to-month lease agreement. The Company obtained a promissory note of $2,000 on December 18, 2014 from a company in which George Shen is also an officer. The promissory note bears interest at 2% per annum and due July 30, 2015. On June 3, 2015, the Company obtained another $7,000 loan from this company with a due date on October 30, 2015, but was paid off by George Shen on June 29, 2015. The Company obtained a promissory note of $5,000 on June 28, 2013 from one of its shareholders. The promissory note bears no interest and was due July 30, 2013 and was still outstanding as of June 30, 2015. The shareholder has not demanded repayment. On June 29, 2015, the Company obtained another promissory note of $2,000 from this shareholder that bears no interest and will be due on October 30, 2015, if the promissory note is not paid when due, the outstanding balance shall bear a default interest rate of 5% per annum.

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2015
Notes Payable [Abstract]
Notes Payable	Note 7— Notes Payable The Company obtained short-term loans from an unrelated party for working capital purposes. The Note payable consists of: June 30, 2015 December 31, 2014 Promissory notes due unrelated party, interest at 2% per annum, default interest at additional 5%, due July 30, 2015 $ — $ 3,000 Total $ — $ 3,000 The note was paid off in February 2015. On June 2, 2015, the Company obtained another $3,500 loan from this unrelated party which was paid off on June 4, 2015.

Convertible Note

Convertible Note	6 Months Ended
	Jun. 30, 2015
Notes Payable, Current [Abstract]
Convertible Note	Note 8— Convertible Note On December 15, 2014, the Company issued a $7,000 convertible note. The convertible note bears interest at 2% per annum, due July 30, 2015, convertible into common stock of the Company anytime after June 20, 2015 at a conversion price of $0.07 per share. If the outstanding balance of the convertible note is not paid when due, the default interest is 5% per annum above the rate that would otherwise be in effect with the default interest accruing, from and including such due date, on a cumulative, compounding basis. On October 29, 2014, the Company issued a $36,000 convertible note. The convertible note bears interest at 5% per annum, due December 15, 2015, convertible into common stock of the Company anytime after May 15, 2015 at a conversion price of $0.07 per share. If the outstanding balance of the convertible note is not paid when due, the default interest is 2% per annum above the rate that would otherwise be in effect with the default interest accruing, from and including such due date, on a cumulative, compounding basis. On September 30, 2014, the Company issued a $40,000 convertible note. The convertible note bears interest at 5% per annum, due September 15, 2015, convertible into common stock of the Company anytime after January 30, 2015 at a conversion price of $0.10 per share. If the outstanding balance of the convertible note is not paid when due, the default interest is 2% per annum above the rate that would otherwise be in effect with the default interest accruing, from and including such due date, on a cumulative, compounding basis. The Company calculated $63,000 for the intrinsic value of the beneficial conversion feature (“BCF”) of the convertible notes (based on the last sale price of $0.15 per share) and recorded the $63,000 BCF as a debt discount and as an addition to additional paid-in capital on effective date of the notes. The debt discount is being amortized to interest expense over the term of the note. As of June 30, 2015, a total of $43,920 was amortized to interest expense, leaving unamortized debt discount of $19,080. For the six months ended June 30, 2015, $32,559 of BCF (Beneficial Conversion Feature) debt discount was amortized to interest expense. There was no convertible note and related debt discount at June 30, 2014.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' Equity	Note 9—Stockholders’ Equity At June 30, 2015, the Company is authorized to issue 690,000,000 shares of $0.0001 par value common stock and 10,000,000 of $0.0001 par value preferred stock. In anticipation of the rescission of the exchange agreement with EarthBlock and to prevent dilution to existing shareholders of the Company, on October 15, 2013, the board of directors of the Company approved a stock dividend of three shares for each outstanding share. The stock dividend is being treated as a stock split due to its high volume. All share and per share information has been retroactively adjusted to reflect the stock split. On March 27, 2014, the Company’s shareholders approved a recapitalization of the capital stock in the form of reverse stock split of its common stock in a ratio of 1-for-25. The shareholders also approved an amendment to the Articles of Incorporation to reduce the number of authorized shares of stock to 700,000,000 from 3,000,000,000. Of the 700,000,000 authorized shares, there are 10,000,000 shares of preferred stock and 690,000,000 shares of common stock. As of June 30, 2015, 78,613,718 shares were issued and outstanding. As a result of above stock split and reverse split, at December 31, 2014, 75,080,817 shares were issued and outstanding after adjusted for the stock split and reverse split. Private Placements of Common Stock From January 1, 2015 to June 30, 2015, Earth Gen issued to investors 2,396,501 shares of its common stock at the offering price of $0.07 to $0.15 per share for an aggregate amount of $233,600. No commissions were paid. There was no agreement to register shares offered in this private placement. The securities described above were issued to investors in reliance upon the exemption from registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering. No commissions were paid and no agreements to register shares were offered in the private placements. All Purchasers of shares described above represented to us in connection with their purchase that they were accredited investors and were acquiring the shares for their own account for investment purposes only and not with a view to, or for sale in connection with, any distribution thereof. The purchasers received written disclosures that the securities had not been registered under the Securities Act and that any resale must be made pursuant to a registration statement or an available exemption from such registration. Restricted Stock Awards (“RSA”) Issued for Services All reference to numbers of shares issued for warrants and per share price is based on a post-stock-dividend and post-reverse-split amount. During six months ended June 30, 2015 and year ended December 31, 2014, the Company granted 36,400 and 3,299,267 RSAs to various consultants for their services provided to the Company. As of June 30, 2015 and December 31, 2014, all RSAs are vested and there was no unrecognized compensation cost related to RSAs. For the six months ended June 30, 2015 and 2014, stock-based compensation expense was $2,548 and $186,240, respectively. The value of the shares issued was based on the fair value of the stock issued, which was based on the most recent sale of common stock for cash. Warrants In connection with the 2013 private placements, the Company issued warrants for 6,400,000 shares of Earth Gen Common Stock on August 1, 2013 and 1,600,000 warrants on September 12, 2013. Each of these warrants entitled the holder to purchase one (1) share of Earth Gen common stock at $0.03 per share starting on January 1, 2014 and ending on December 15, 2016. As of June 30, 2015, 1,000,000 warrants have been exercised in exchange for total cash proceeds of $31,250 or $0.03 per share. In connection with the January 2014 private placement, the Company issued warrants to purchase 202,000 shares of Earth Gen common stock on March 20, 2014. Each warrant entitles the holder to purchase one (1) share of Earth Gen common stock at $0.50 per share starting on July 15, 2014 and ending on September 30, 2016. In connection with the April 2015 private placement, the Company issued warrants to purchase 3,000,000 shares of Earth Gen common stock on April 26, 2014. Each warrant entitles the holder to purchase one (1) share of Earth Gen common stock at $0.07 per share starting on May 1, 2015 and ending on December 15, 2015. In connection with the April 2015 private placement, the Company issued warrants to purchase 6,000,000 shares of Earth Gen common stock on April 26, 2014. Each warrant entitles the holder to purchase one (1) share of Earth Gen common stock at $0.07 per share starting on May 1, 2015 and ending on March 31, 2016. These warrants have standard anti-dilution language to allow for recapitalizations and distributions. The warrants are equity classified and amounts attributable to the warrants are classified within additional paid-in capital. All reference to numbers of shares issued for warrants and per share price is based on a post-stock-dividend and post-reverse-split amount. A summary of the status of the Company’s warrants outstanding as of June 30, 2015 is presented below: Number of Shares Outstanding at December 31, 2014 7,202,000 Granted 9,000,000 Outstanding at June 30, 2015 16,202,000 Exercisable at June 30, 2015 16,202,000 The following table summarizes information about warrants outstanding as of June 30, 2015: Options and Warrants Outstanding Options and Warrants Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.03 7,000,000 1.46 $ 0.03 7,000,000 $ 0.03 $ 0.50 202,000 1.25 $ 0.50 202,000 $ 0.50 $ 0.07 9,000,000 0.66 $ 0.07 9,000,000 $ 0.07 16,202,000 1.01 $ 0.06 16,202,000 $ 0.06

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10—Commitments and Contingencies Farm Lease Agreements On March 10, 2014, Earth Gen entered into a lease agreement for 136 hectares of farm land located at Phoengam Neua Village, Pek Districk, Xiengkhuang Province in the People’s Republic of Lao. The term of the lease is for twelve years with an option for Earth Gen to renew for an additional twelve years. Earth Gen is obligated to pay taxes on the land of up to $1,000 per year; any taxes in excess of that amount are the obligation of the landowner. In addition, Earth Gen is obligated to provide all elements required to grow castor beans on the land and start using the land in partial or in full for castor bean farming operations before the end of 2014. The compensation to the landowner under the agreement is $50.00 per metric ton of castor beans harvested and is due ninety days after the harvest. In addition to this agreement, Earth Gen has entered into two additional agreements, under the terms substantially equivalent to the original agreement described above, for 103 additional hectares in Xiengkhuang Province in close proximity to the Phoengram Neua Village farm.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events July 1, 2015 through August 10, 2015 Private Placement of Common Stock The Company received $3,000 for the purchase of 20,000 shares of restricted common stock. The shares were pending issue as of August 13, 2015. The securities described above are to be issued in reliance upon the exemption from registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering. No commissions were paid and no agreements to register shares were offered in the private placements. All Purchasers of shares described above represented to us in connection with their purchase that they were accredited investors and were acquiring the shares for their own account for investment purposes only and not with a view to, or for sale in connection with, any distribution thereof. The purchasers received written disclosures that the securities had not been registered under the Securities Act and that any resale must be made pursuant to a registration statement or an available exemption from such registration.

Significant Accounting Polici17

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiary. All inter-company accounts and transactions have been eliminated in consolidation.
Unaudited Interim Financial Information	Unaudited Interim Financial Information These unaudited interim financial statements have been prepared in accordance with GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission that permit reduced disclosure for interim periods. Therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, all adjustments of a normal recurring nature necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been made. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2015. The balance sheets and certain comparative information as of December 31, 2014 are derived from the audited financial statements and related notes for the year ended December 31, 2014 (“2014 Annual Financial Statements”), included in the Company’s 2014 Annual Report on Form 10-K. The unaudited interim financial statements should be read in conjunction with the 2014 Annual Financial Statements.
Basic and Diluted Loss per Common Share	Basic and Diluted Loss per Common Share Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted loss per share excludes all dilutive potential shares if their effect is anti-dilutive. The Company has issued common stock purchase warrants and entered into convertible note; however, they are anti-dilutive given the net loss incurred for the periods presented. As a result, 4,889,286 potentially dilutive common stock equivalents (presented post-dividend and post-split) were excluded from the calculation of diluted loss per common share as of June 30, 2015. Therefore, dilutive and basic losses per common share are equal.
Inventory	Inventory Inventory consists of raw materials consisting of castor bean seeds. Inventories are recorded at the lower of cost or market, using the first-in, first-out method. Cost is determined at the actual cost for raw materials. Expenditures on growing crops are valued at the lower of cost or market and are deferred and charged to cost of sales when the related crops are harvested and sold. The deferred growing costs included in inventories in the balance sheets consist primarily of land rental cost and service costs. In assessing the ultimate realization of inventories, the management makes judgments as to future demand requirements compared to current or committed inventory levels. The Company’s reserve requirements generally increase or decrease with its projected demand requirements and market conditions. The Company estimates the demand requirements based on market conditions, forecasts prepared by its customers, sales contracts and orders in hand. In addition, the Company estimates net realizable value based on intended use, current market value and inventory ageing analyses. The Company writes down the inventories for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventories and the estimated market value based upon assumptions about future demand and market conditions. Based on the above assessment, the Company recorded an inventory reserve of $123,352 and $64,320 as of June 30, 2015 and December 31, 2014, respectively.
Revenue Recognition	Revenue Recognition Revenue from sales of the Company’s products is recognized upon customer acceptance, which occurs at the time of delivery to the customer, provided persuasive evidence of an arrangement exists, such as signed sales contract, the significant risks and rewards of ownership have been transferred to the buyer at the time when the products are delivered to its customers with no significant post-delivery obligation on our part, the sales price is fixed or determinable and collection is reasonably assured. The Company does not provide its customers with contractual rights of return and post-delivery discount for any of its products. When there is any significant post-delivery performance obligations exists, revenue is recognized only after such obligations are fulfilled. The Company evaluates the terms of sales agreement with its customers in order to determine whether any significant post-delivery performance obligations exist.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. For organizations defined as public business entities, for the first annual period beginning after December 15, 2014, the presentation and disclosure requirements in Topic 915 will no longer be required. The revised consolidation standards are effective one year later, in annual periods beginning after December 15, 2015. Early adoption is permitted. For other organizations, for the first annual period beginning after December 15, 2014, the presentation and disclosure requirements in Topic 915 will no longer be required. The revised consolidation standards are effective two years later, in annual periods beginning after December 15, 2016. Early adoption is permitted. The adoption of this pronouncement will not have a material impact on the Company’s financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which provides guidance regarding management’s responsibility to assess whether substantial doubt exists regarding the ability to continue as a going concern and to provide related footnote disclosures. In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). This ASU is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. We are currently evaluating the new guidance and have not determined the impact this standard may have on our condensed financial statements. We do not believe there are any other recently issued standards not yet effective that will have a material impact on our financial statements when the standards become effective.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of inventory	June 30, December 31, 2015 2014 Seeds $ - $ - Capitalized costs of growing crops 569,314 551,314 Total inventory $ 569,314 $ 551,314 Less: inventory reserve (123,352 ) (64,320 ) Inventory, net $ 445,962 $ 486,994

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property And Equipment Tables
Schedule of Property and equipment	June 30, December 31, 2015 2014 Machinery and equipment $ 11,240 $ 11,240 Automobile 7,000 7,000 Office equipment 4,216 4,216 Total 22,456 22,456 Less: accumulated depreciation (4,676 ) (2,751 ) Property and equipment, net $ 17,780 $ 19,705

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2015
Notes Payable Tables
Schedule of Note payable	June 30, 2015 December 31, 2014 Promissory notes due unrelated party, interest at 2% per annum, default interest at additional 5%, due July 30, 2015 $ — $ 3,000 Total $ — $ 3,000

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Summary of the status of the Company's warrants outstanding	Number of Shares Outstanding at December 31, 2014 7,202,000 Granted 9,000,000 Outstanding at June 30, 2015 16,202,000 Exercisable at June 30, 2015 16,202,000
Summary of information about warrants outstanding	Options and Warrants Outstanding Options and Warrants Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.03 7,000,000 1.46 $ 0.03 7,000,000 $ 0.03 $ 0.50 202,000 1.25 $ 0.50 202,000 $ 0.50 $ 0.07 9,000,000 0.66 $ 0.07 9,000,000 $ 0.07 16,202,000 1.01 $ 0.06 16,202,000 $ 0.06

Nature of Operations and Basi22

Nature of Operations and Basis of Presentation (Narrative) (Details) - shares	Oct. 10, 2014	Sep. 25, 2012	Mar. 31, 2014
EarthGen Biofuel Lao Sole Co Ltd [Member]
NatureOfOperationsAndBasisOfPresentationLineItems [Line Items]
Ownership interest percentage			100.00%
Agreement of Share Exchange and Plan of Reorganization [Member] | EarthBlock Technologies Inc [Member]
NatureOfOperationsAndBasisOfPresentationLineItems [Line Items]
Percentage the ownership of the Company exchanged by the counterparty		100.00%
Shares of common stock of the counterparty received by the company		63,666,400
Shares of common stock of the counterparty received by the company for each outstanding share		4
Common stock shares issued to participating holders of Exchange Shares	50,645,600
Additional common stock shares issued to participating holders of Exchange Shares	7,030,400
Common stock shares hold by non participating holders of Exchange Shares	7,560,000

Significant Accounting Polici23

Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Basic and Diluted Loss per Common Share
Potentially dilutive common stock equivalents excluded from the calculation of diluted loss per common share (in shares)	4,889,286
Inventory
Inventory reserve	$ 123,352	$ 64,320

Inventory (Details)

Inventory (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Inventory
Seeds
Capitalized costs of growing crops	$ 569,314	$ 551,314
Total inventory	569,314	551,314
Less: inventory reserve	(123,352)	(64,320)
Inventory, net	$ 445,962	$ 486,994

Property and Equipment (Propert

Property and Equipment (Property and equipment) (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 11,240	$ 11,240
Automobile	7,000	7,000
Office equipment	4,216	4,216
Total	22,456	22,456
Less: accumulated depreciation	(4,676)	(2,751)
Property and equipment, net	$ 17,780	$ 19,705

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 1,924	$ 629

Due from Related Parties (Narra

Due from Related Parties (Narrative) (Details) - USD ($)	Jun. 03, 2015	Jun. 29, 2015	Jun. 28, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 18, 2015	Dec. 31, 2014	Dec. 18, 2014
Related Party Transaction [Line Items]
Net funds provided to related party				$ 58,058			$ 58,058
Amount owned to related party							55,641
Proceeds from related party debt				$ 9,000
Debt maturity date				Jul. 30, 2015
Promissory note interest rate				2.00%
Shareholder [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt		$ 2,000	$ 5,000
Debt maturity date		Oct. 30, 2015	Jul. 30, 2013
Promissory note interest rate		5.00%
George Shen [Member]
Related Party Transaction [Line Items]
Amount owned to related party							55,641
Payment of accrued service fees		$ 70,700
Advance to related party		$ 7,000
Issuance of restricted stock		1,100,000
Due to related party				$ 390
Office rent under the month-to-month lease agreement				$ 3,360
Proceeds from related party debt	$ 7,000					$ 2,000
Debt maturity date	Oct. 30, 2015					Jul. 30, 2015
Promissory note interest rate								2.00%
EarthBlock Technologies Inc [Member]
Related Party Transaction [Line Items]
Net funds provided to related party							$ 58,058

Notes Payable (Short-term loans

Notes Payable (Short-term loans) (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Total	$ 0	$ 3,000
Promissory notes due to unrelated parties [Member]
Total	$ 0	$ 3,000

Notes Payable (Narrative) (Deta

Notes Payable (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 02, 2015
Notes Payable [Abstract]
Interest rate	2.00%
Interest rate default	5.00%
Debt maturity date	Jul. 30, 2015
Paid off date of note	Feb. 28, 2015
Outstanding amount of note		$ 3,500

Convertible Note (Narrative) (D

Convertible Note (Narrative) (Details) - USD ($)	Dec. 15, 2014	Oct. 29, 2014	Sep. 30, 2014	Jun. 30, 2015	Jun. 02, 2015
Short-term Debt [Line Items]
Face amount					$ 3,500
Interest rate (as a percent)				5.00%
Debt maturity date				Jul. 30, 2015
Beneficial conversion feature of debt				$ 32,559
Unamortized debt discount				19,080
Amortized interest expense				43,920
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Face amount	$ 7,000	$ 36,000	$ 40,000
Interest rate (as a percent)	2.00%	5.00%	5.00%
Debt maturity date	Jul. 30, 2015	Dec. 15, 2015	Sep. 15, 2015
Conversion price (in dollars per share)	$ 0.07	$ 0.07	$ 0.10
Default interest rate (as a percent)	5.00%	2.00%	2.00%
Beneficial conversion feature of debt				$ 63,000
Last sale price used to calculate intrinsic value of the beneficial conversion feature of debt (in dollars per share)				$ 0.15
Beneficial conversion feature recorded as a debt discount				$ 63,000

Stockholders' Equity (Summary o

Stockholders' Equity (Summary of Status of Warrants Outstanding) (Details)	6 Months Ended
	Jun. 30, 2015shares
Number of Shares
Outstanding at December 31, 2014	7,202,000
Granted	9,000,000
Outstanding at June 30, 2015	16,202,000
Exercisable at June 30, 2015	16,202,000

Stockholders' Equity (Summary32

Stockholders' Equity (Summary of Information about Warrants Outstanding) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Options and Warrants Outstanding
Number Outstanding	16,202,000	7,202,000
Weighted Average Remaining Contractual Life	1 year 4 days
Weighted Average Exercise Price	$ 0.06
Options and Warrants Exercisable
Number Exercisable	16,202,000
Weighted Average Exercise Price	$ 0.06
Exercise Price One [Member]
Options and Warrants Outstanding
Number Outstanding	7,000,000
Weighted Average Remaining Contractual Life	1 year 5 months 16 days
Weighted Average Exercise Price	$ 0.03
Options and Warrants Exercisable
Number Exercisable	7,000,000
Weighted Average Exercise Price	$ 0.03
Exercise Price Two [Member]
Options and Warrants Outstanding
Number Outstanding	202,000
Weighted Average Remaining Contractual Life	1 year 3 months
Weighted Average Exercise Price	$ 0.50
Options and Warrants Exercisable
Number Exercisable	202,000
Weighted Average Exercise Price	$ 0.50
Exercise Price Three [Member]
Options and Warrants Outstanding
Number Outstanding	9,000,000
Weighted Average Remaining Contractual Life	7 months 28 days
Weighted Average Exercise Price	$ 0.07
Options and Warrants Exercisable
Number Exercisable	9,000,000
Weighted Average Exercise Price	$ 0.07

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - $ / shares	1 Months Ended
	Mar. 27, 2014	Jun. 30, 2015	Dec. 31, 2014
Common stock, shares authorized		690,000,000	690,000,000
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Preferred stock, shares authorized		10,000,000	10,000,000
Preferred stock, par value		$ 0.0001	$ 0.0001
Reverse stock split ratio	1-for-25
Stock authorized	700,000,000
Stock authorized before amendment to the articles of incorporation	3,000,000,000
Common stock, shares issued		78,613,718	75,080,817
Common stock, shares outstanding		78,613,718	75,080,817
Preferred Stock [Member]
Stock authorized	10,000,000
Common Stock [Member]
Stock authorized	690,000,000

Stockholders' Equity (Private P

Stockholders' Equity (Private Placements of Common Stock) (Narrative) (Details) - Jun. 30, 2015 - Investor [Member] - USD ($)	Total
Class of Stock [Line Items]
Shares of common stock issued	2,396,501
Aggregate amount of shares of common stock issued	$ 233,600
Minimum [Member]
Class of Stock [Line Items]
Offering price (in dollars per share)	$ 0.07
Maximum [Member]
Class of Stock [Line Items]
Offering price (in dollars per share)	$ 0.15

Stockholders' Equity (Restricte

Stockholders' Equity (Restricted Stock Awards Issued for Service) (Narrative) (Details) - Restricted Stock [Member] - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Class of Stock [Line Items]
Awards granted to various consultants for their services	36,400		3,299,267
Unrecognized compensation cost	$ 0		$ 0
Stock-based compensation expense	$ 2,548	$ 186,240

Stockholders' Equity (Warrants)

Stockholders' Equity (Warrants) (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Apr. 26, 2014	Mar. 20, 2014	Sep. 12, 2013	Aug. 01, 2013
Class of Warrant or Right [Line Items]
Exercise price of warrants (in dollars per share)	$ 0.06
Warrant April 2015 private placement [Member]
Class of Warrant or Right [Line Items]
Warrants issued		3,000,000
Number of shares that can be purchased by holder of each warrant		1
Exercise price of warrants (in dollars per share)		$ 0.07
Warrant April 2015 private placement [Member] | Transaction One [Member]
Class of Warrant or Right [Line Items]
Warrants issued		6,000,000
Number of shares that can be purchased by holder of each warrant		1
Exercise price of warrants (in dollars per share)		$ 0.07
Warrant January 2014 Private Placements [Member]
Class of Warrant or Right [Line Items]
Warrants issued			202,000
Number of shares that can be purchased by holder of each warrant	1
Exercise price of warrants (in dollars per share)			$ 0.50
Warrant 2013 Private Placements [Member]
Class of Warrant or Right [Line Items]
Warrants issued				1,600,000	6,400,000
Number of shares that can be purchased by holder of each warrant	1
Exercise price of warrants (in dollars per share)	$ 0.03			$ 0.03	$ 0.03
Warrants exercised	1,000,000
Total cash proceeds from warrants exercise	$ 31,250

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	1 Months Ended
	Mar. 31, 2014$ / Mg	Mar. 10, 2014USD ($)ha
Commitments and Contingencies Disclosure [Abstract]
Farm land leased (in hectares)		136
Term of lease	12 years
Renewal term of lease	12 years
Maximum taxes on the land which company is obligated to pay in excess of that amount are the obligation of the landowner | $		$ 1,000
Compensation to the landowner per metric ton of castor beans harvested | $ / Mg	50
Additional area leased		103
Compensation to the landowner per metric ton of castor beans harvested due days	90 days

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($)	1 Months Ended	6 Months Ended
	Aug. 10, 2015	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Proceeds from issuance of restricted common stock		$ 233,600	$ 831,780
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from issuance of restricted common stock	$ 3,000
Shares of common stock issued	20,000

Uncategorized Items - egbi-2015

Label	Element	Value
Inventory reserve	us-gaap_InventoryWriteDown
Inventory reserve	us-gaap_InventoryWriteDown	$ 28,466
Net loss	us-gaap_NetIncomeLoss	(187,454)
Net loss	us-gaap_NetIncomeLoss	$ (339,907)