GREEN AUTOMOTIVE COMPANY Green Automotive Company
Financial Statements as of June 30, 2022 and December 31, 2021and the Six Months Ended June 30, 2022 and 2021
1
GREEN AUTOMOTIVE COMPANY
INDEX TO FINANCIAL STATEMENTS
TABLE OF CONTENTS | |
PAGE | |
BALANCE SHEETS | 3 |
STATEMENTS OF OPERATIONS | 4 |
STATEMENTS OF CASH FLOWS | 5 |
STATEMENTS OF STOCKHOLDERS' EQUITY | 6 |
NOTES TO FINANCIAL STATEMENTS | 7-17 |
2
GREEN AUTOMOTIVE COMPANY
Balance Sheets
June 30, 2022 and December 31, 2021
(Unaudited)
June 30, | December 31, | |||||
2022 | 2021 | |||||
ASSETS | ||||||
Current Assets | ||||||
Cash | $ | 320 | $ | 389 | ||
Accounts receivable | 10,000 | - | ||||
Total Current Assets | 10,320 | 389 | ||||
Total Assets | $ | 10,320 | $ | 389 | ||
LIABILITIES AND STOCKHOLDERS' (DEFICIT) | ||||||
Current Liabilities | ||||||
Accounts payable and accrued expenses | $ | 136,882 | $ | 170,199 | ||
Accounts payable and accrued expenses-Related party | 226,845 | 171,318 | ||||
Advances payable | 38,500 | 35,000 | ||||
Notes payable-Related party | 124,997 | 99,243 | ||||
Derivative liability | 2,668,181 | 2,668,181 | ||||
Total Current Liabilities | 3,195,405 | 3,143,941 | ||||
Long Term Liabilities | ||||||
Notes payable-Related party | 250,003 | 275,757 | ||||
Total Liabilities | 3,445,408 | 3,419,698 | ||||
Commitments and contingencies | - | - | ||||
Stockholders (Deficit) | ||||||
Preferred stock, Class A convertible, $.001 par value, | ||||||
2,000,000 shares authorized, 2,000,000 shares issued | ||||||
and outstanding at June 30, 2022 and December 31, | ||||||
2021 | 2,000 | 2,000 | ||||
Preferred stock, Class Y convertible, $.001 par value, | ||||||
40,000,000 shares authorized, 35,561,651 shares issued | ||||||
and outstanding at June 30, 2022 and December 31, | ||||||
2021 | 35,562 | 35,562 | ||||
Common stock, $.001 par value, 1,950,000,000 shares | ||||||
authorized; 1,045,595,531 issued and outstanding at | 1,045,596 | 1,045,596 | ||||
June 30, 2022 and December 31, 2021 | ||||||
Additional paid-in capital | 48,541,303 | 48,541,303 | ||||
Accumulated (Deficit) | (53,059,549) | (53,043,770) | ||||
Total Stockholders' (Deficit) | (3,435,088) | (3,419,309) | ||||
Total Liabilities and Stockholders' (Deficit) | $ | 10,320 | $ | 389 | ||
The accompanying footnotes are an integral part of these unaudited financial statement.
3
GREEN AUTOMOTIVE COMPANY
Statements of Operations
(Unaudited)
Three Months Ended | Six Months Ended | |||||||||||
June 30, | June 30, | |||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||
Revenues | $ | 15,000 | $ | - | $ | 30,000 | $ | - | ||||
Total revenues | 15,000 | - | 30,000 | - | ||||||||
Operating Expenses | ||||||||||||
General and administrative | 19,236 | 12,100 | 39,947 | 25,420 | ||||||||
Total operating expenses | 19,236 | 12,100 | 39,947 | 25,420 | ||||||||
(Loss) before other expenses | (4,236) | (12,100) | (9,947) | (25,420) | ||||||||
Other income/(expense) | ||||||||||||
Interest expense-Related party | (2,927) | (2,805) | (5,832) | (5,579) | ||||||||
Debt relief | - | - | - | 56,614 | ||||||||
Total other | (2,927) | (2,805) | (5,832) | 51,035 | ||||||||
Income before income taxes | (7,163) | (14,905) | (15,779) | 25,615 | ||||||||
Income taxes | - | - | - | - | ||||||||
Net income/(loss) | $ | (7,163) | $ | (14,905) | $ | (15,779) | $ | 25,615 | ||||
Income per share-Basic and diluted | $ | (0.00) | $ | (0.00) | $ | (0.00) | $ | 0.00 | ||||
Weighted average shares outstanding | ||||||||||||
Basic and diluted | 1,045,595,531 | 1,045,595,531 | 1,045,595,531 | 1,045,595,531 | ||||||||
The accompanying footnotes are an integral part of these unaudited financial statement.
4
GREEN AUTOMOTIVE COMPANY
Statements of Stockholders' (Deficit)
For the Three and Six Months Ended June 30, 2022 and 2021
(Unaudited)
Preferred Stock | Common Stock | Additional | Accumulated | Stockholders' | |||||||||||||||||||||||||||||||||
Series A | |||||||||||||||||||||||||||||||||||||
Balance-January 1, 2021 | Series Y Shares | Amount | Shares | Amount | Shares | Amount | Paid-in Capital | (Deficit) | (Deficit) | ||||||||||||||||||||||||||||
35,561,651 | $35,562 | 2,000,000 | $ | 2,000 | 1,045,595,531 | $ 1,045,596 | $ | 48,541,303 | $(53,026,059) | $ (3,401,598) | |||||||||||||||||||||||||||
Net income for the three months ended | |||||||||||||||||||||||||||||||||||||
March 31, 2021 | - | - | - | - | - | - | - | 40,520 | 40,520 | ||||||||||||||||||||||||||||
Balance-March 31, 2021 | 35,561,651 | 35,562 | 2,000,000 | 2,000 | 1,045,595,531 | 1,045,596 | 48,541,303 | (52,985,539) | (3,361,078) | ||||||||||||||||||||||||||||
Net income for the three months ended | - | - | - | - | - | - | - | (14,905) | (14,905) | ||||||||||||||||||||||||||||
June 30, 2021 | |||||||||||||||||||||||||||||||||||||
Balance-June 30, 2021 | 35,561,651 | $35,562 | 2,000,000 | $ | 2,000 | 1,045,595,531 | $ 1,045,596 | $ | 48,541,303 | $(53,000,444) | $ (3,375,983) | ||||||||||||||||||||||||||
Preferred Stock | Common Stock | Additional | Accumulated | Stockholders' | |||||||||||||||||||||||||||||||||
Series A | |||||||||||||||||||||||||||||||||||||
Balance-January 1, 2022 | Series Y Shares | Amount | Shares | Amount | Shares | Amount | Paid-in Capital | (Deficit) | (Deficit) | ||||||||||||||||||||||||||||
35,561,651 | $35,562 | 2,000,000 | $ | 2,000 | 1,045,595,531 | $ 1,045,596 | $ | 48,541,303 | $(53,043,770) | $ (3,419,309) | |||||||||||||||||||||||||||
Net (loss) for the three months ended | |||||||||||||||||||||||||||||||||||||
March 31, 2022 | - | - | - | - | - | - | - | (8,616) | (8,616) | ||||||||||||||||||||||||||||
Balance-March 31, 2022 | 35,561,651 | 35,562 | 2,000,000 | 2,000 | 1,045,595,531 | 1,045,596 | 48,541,303 | (53,052,386) | (3,427,925) | ||||||||||||||||||||||||||||
Net (loss) for the three months ended | |||||||||||||||||||||||||||||||||||||
June 30, 2022 | - | - | - | - | - | - | - | (7,163) | (7,163) | ||||||||||||||||||||||||||||
Balance-June 30, 2022 | 35,561,651 | $35,562 | 2,000,000 | $ | 2,000 | 1,045,595,531 | $ 1,045,596 | $ | 48,541,303 | $(53,059,549) | $ (3,435,088) | ||||||||||||||||||||||||||
The accompanying footnotes are an integral part of these unaudited financial statement.
5
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Green Automotive Co. published this content on 13 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2022 00:52:00 UTC.
