Green Globe International, Inc.
Incorporating Hempacco Co., Inc. on a fully consolidated basis
Incorporated in Delaware - November 12, 1999
Consolidated Financial Statements
For the 12 Months Ended
December 31, 2021
Statements issued and prepared by Management
Green Globe International, Inc.
Index to Consolidated Financial Statements
Consolidated Balance Sheets as of December 31, 2021 and 2020 F-3
Consolidated Statements of Operations - 12 Months ended December 31, 2021 and 2020 F-4
Consolidated Statement of Stockholders Equity as of December 31, 2021 and 2020 F-5
Consolidated Statements of Cash Flows 12 Months ended December 31, 2021 and 2020 F-6
Notes to the Financial Statements F-7
The accompanying notes are an integral part of these financial Statements
Page F-2
Green Globe International, Inc.
Incorporating Hempacco Co., Inc. on a fully consolidated basis
CONSOLIDATED BALANCE SHEETS
December 31, 2021
December 31, 2020
ASSETS
Current Assets
Cash
$
1,521,027
$ 500
Accounts Receivable - Related Parties
137,297 5,587
Accounts Receivable
144,246 10,390
Less: Receivables Impairment Allowance
Inventory at Cost Less Obsolescence Allowance Investment - Best n' Pet
- 198,936
(10,290) 92,699
- 100,000
Deposits & Prepayments
706,273 2,576
Total Current Assets
2,707,780
201,462
Property and Equipment
Leasehold Improvements Furniture, Fixtures & Equipment Accumulated Depreciation
12,431 5,149,306 (161,441) 5,000,295
12,431 5,067,730
Total Property and EquipmentOther Assets
Operating Lease - Right of Use Asset
Right of Use Assets - Accumulated Amortization Warrant Valuation Asset - Less Amortization
Total Other Assets
(74,852) 5,005,309
659,319 (191,152) 209,214 677,380
642,752 (91,629)
- 551,123
Total Assets
$
8,385,455
$
5,757,894
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts Payable & Accrued Expenses Accounts Payable - Related Parties
$
98,457
$ 154,517
162,405 425,817
2,128,393 756,971
Customer Pre-paid Invoices & Deferred Revenue Convertible Promissory Notes
Loans Payable - Related Parties Equipment Loan
900,000 9,600 1,482,681
- 26,600 1,469,535
Other Short Term Loans
168,328 167,500
Operating Lease - Right of Use Liability - Short Term Portion
111,077 97,010
Total Current Liabilities
5,060,941
3,097,950
Long Term Liabilities
37,592 3,590
Accrued Interest on Long Term Notes Long Term Promissory Notes Payable
175,000 25,000
Long Term Promissory Notes Payable - Related Parties
- 11,500
Right of Use Liability - Straight-Line Rent Rule - Deferred Rent Right of Use Liability - Long Term Portion
15,226 9,362
357,091 454,113
Total Long Term Liabilities
584,909
503,565
Total Liabilities
5,645,849
3,601,515
Stockholders' Equity
Preferred stock Series C, $.0001 par value; 25,000,000,000 and 5,000,000,000 shares authorized as of December 31, 2021 and 2020 respectively. 20,000,006,200 and 6,200 shares outstanding as of December 31, 2021 and December 31, 2020.
2,000,000
1
Participating Preferred stock Series A no par value - the 100 issued and outstanding shares were cancelled on May 21, 2021
-
-
Common stock, $.0001 par value; 75,000,000,000 and 5,000,000,000 shares authorized as of December 31, 2021 and 2020 respectively. 54,816,153,814 and 3,700,640,356 shares issued, and 54,226,653,814 and 3,700,640,356 outstanding as of December 31, 2021 and December 31, 2020.
370,063
Additional Paid in Capital
Warrant Reserves Shares Issued Accumulated Deficit
Total Stockholders' Equity Non-Controlling Interests
5,481,614 13,933,731
(58,950) (19,695,905)
16,964,040 -
(15,177,725)
1,660,490 1,079,116 2,739,606
2,156,379 -
Total Equity
2,156,379
Total liabilities and Equity
$
8,385,455
$
5,757,894
The accompanying notes are an integral part of these Consolidated Financial Statements
Page F-3
Green Globe International, Inc. | ||
Incorporating Hempacco Co., Inc. on a fully consolidated basis | ||
STATEMENT OF OPERATIONS | ||
For the Year Ended December 31, 2021 | For the Year Ended December 31, 2020 | |
Revenue | ||
Sale of Materials | $ 805,969 | $ 135,867 |
Sale of Materials - Related Parties | 139,114 | 64,290 |
White Label Production & Consulting | 242,190 | 145,832 |
Total Revenue | 1,187,273 | 345,989 |
Cost of Goods Sold (including inventory obsolescense of $623,375) | 850,901 | 899,699 |
Gross Profit / (Loss) from Operations | 336,372 | (553,710) |
Expenses | ||
General & Administrative | 1,211,581 | 303,682 |
General & Administrative - Related Parties | 399,259 | 420,000 |
Sales & Marketing | 878,596 | 27,597 |
Research & Development | 2,090 | - |
Total Expenses | 2,491,526 | 751,279 |
Operating Loss | (2,155,154) | (1,304,989) |
Other Income / (Expenses) | ||
Interest expense - including warrant discounts Loss on Disposal of Investment | (313,834) (100,000) | (175,273) |
Other Expenses | (1,666) | (32) |
Total Other Expenses | (415,500) | (175,305) |
Net Loss | $ (2,570,654) | $ (1,480,294) |
Net Loss attributable to non-controlling interests | 137,715 | - |
Dividend issued to preferred stockholders | (757,479) | - |
Net Loss attributable to common shareholders | $ (3,190,418) | $ (1,480,294) |
PER SHARE DATA: | ||
Basic & Dilutive Income / (Loss) per common share ($0.00) ($0.00) | ||
Weighted average shares basic and diluted 54,226,653,814 3,700,640,396 | ||
The accompanying notes are an integral part of these financial statements | ||
Page F-4 |
Green Globe International, Inc.
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
Preferred Shares
Balances - December 31, 2020
Issuance of Shares for Acquisition of Hempacco - 6-9-2021
Issuance of License Fee to Old Belt Extracts - 6-21-2021
GGII Net Profit for 6 Month Period ended June 30, 2021:
UST Mexico - Conversion of Common to Pref - 6-27-2021
Balances - June 30, 2021
6,300
Stock $ Amnt @ Par
Common Shares
Stock $ Amnt @ Par
Loss of Goodwill on Consolidation with Hempacco - June 9, 2021 Adjustment to Acc. Deficit as of - December 31, 2020** Hempacco Net Losses 6-10-21 through 6-30-20
Cancellation of 100 Preferred Shares Series A on consolidation Fischer Notes Settlement
EMC2 Capital - Loan Inducement (BCF) First Fire Global - Loan Inducement (BCF)
GGII Warrant Reserve Issues EMC2, First Fire & JSJ
Net Loss for 3 Month Period ended September 30, 2021: - GGII
Net Loss for 3 Month Period ended September 30, 2021: - Hempacco Balances - September 30, 2021
-
$
Additional Paid in Capital
APIC
Warrant Reserve SharesRetained Deficit
$
Non-Controlling
Stockholders'
Interests
Equity
3,700,640,356
370,063
$ 13,138,683
$
-$
(13,574,937)
$
(66,190)Proforma Consolidation AJE for Wizards & Kings Warrants LGH Investments - Loan Inducement
Mast Hill Fund, LLC - Loan Inducement
GGII Warrant Reserve Isssues - MacRab, LGH & Mast Hill Hasvold Preference Share Conversion
Equity Based Compensation
Warrant Discounts to Convertible Notes
Valuation of Warrants Issued to Hemp Hop JV Partners J.H. Darbie & Co. Warrants issued as commissions Hempacco Co., Inc. pre-IPO share issuances
Equity Attributable to Non-Controlling Interests Losses Attributable to Non-Controlling Interests Proforma Equity Adjustments for Hempacco consolidation Net Loss for 3 Month Period ended December 31, 2021 Balances - December 31, 2021
-
-
-
-
-
The accompanying notes are an integral part of these financial statements
Page F-5
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Green Globe International Inc. published this content on 04 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2022 07:03:01 UTC.