Green Technology Solutions, Inc.

CIK:0000874792|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUE	$ 0	$ 0
OPERATING EXPENSES
General and administrative expenses	83,184	143,007
LOSS FROM OPERATIONS	(83,184)	(143,007)
OTHER INCOME (EXPENSE)
Interest expense	(102,637)	(90,468)
Impairment on investment	0	(5,000)
Total other income (expense)	(102,637)	(95,468)
NET LOSS	$ (185,821)	$ (238,475)
NET LOSS PER COMMON SHARE – Basic and diluted (in Dollars per share)	$ (0.01)	$ (0.13)
WEIGHT AVERAGE COMMON SHARES OUTSTANDING — Basic and diluted (in Shares)	13,964,832	1,773,086

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss	$ (185,821)	$ (238,475)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of discount on convertible note payable	68,040	69,084
Imputed interest expense	671	725
Impairment of investment in Elevated Industries	0	5,000
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	19,608	96,216
Accrued interest payable	33,927	20,659
NET CASH USED IN OPERATING ACTIVITIES	(63,575)	(46,791)
CASH FLOWS FROM INVESTING ACTIVITIES
Deposit paid for purchase of fixed assets	0	(50,000)
Investment in Elevated Industries	0	(5,000)
NET CASH USED IN INVESTING ACTIVITIES	0	(55,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from advances	63,365	87,970
NET CASH PROVIDED BY FINANCING ACTIVITIES	63,365	87,970
NET INCREASE (DECREASE) IN CASH	(210)	(13,821)
CASH, at the beginning of the period	844	15,173
CASH, at the end of the period	634	1,352
Cash paid during the period for:
Interest	0	0
Taxes	0	0
Noncash investing and financing transaction:
Refinance of advances into convertible notes payable	63,365	87,970
Beneficial conversion discount on convertible note payable	63,365	87,970
Common stock issued for common stock payable	4,100	0
Conversion of Convertible Notes Payable [Member]
Noncash investing and financing transaction:
Conversion of convertible notes payable	9,147	6,920
Payable Issued for Fixed Asset [Member]
Noncash investing and financing transaction:
Deposit on purchase of fixed assets included in accounts payable	$ 0	$ 5,400,000

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 634	$ 844
Total current assets	634	844
TOTAL ASSETS	634	844
CURRENT LIABILITIES
Accounts payable and accrued expenses	379,154	359,546
Accounts payable to related party	127,500	127,500
Advances payable	3,235	3,235
Current portion of convertible notes payable, net of discount of $310,613 and $286,267, respectively	538,145	482,814
Current portion of accrued interest payable	160,443	133,503
Total current liabilities	1,208,477	1,106,598
Convertible notes payable, net of discount of $549,173 and $578,194, respectively	26,002	21,586
Accrued interest payable	25,112	18,979
TOTAL LIABILITIES	$ 1,259,591	$ 1,147,163
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY (DEFICIT)
Common stock, $0.001 par value; 480,000,000 shares authorized; 14,069,575 shares and 13,154,875 shares issued; 6,938,858 and 616,858 shares outstanding at March 31, 2016 and December 31, 2015, respectively	$ 14,070	$ 12,745
Preferred stock, $0.001 stated value; 20,000,000 shares authorized; 1,000,000 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively.	1,000	1,000
Treasury shares, 17 and 17 shares as of March 31, 2016 and December 31, 2015, respectively.	(19)	(19)
Additional paid-in capital	20,984,674	20,908,716
Common stock payable	5,000	9,100
Accumulated deficit	(22,263,682)	(22,077,861)
Total shareholders’ deficit (deficit)	(1,258,957)	(1,146,319)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT (DEFICIT)	$ 634	$ 844