GREENWORLD DEVELOPMENT, INC.

CIK:0001084899|SEC Filings

Condensed Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended		189 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
Statements of Comprehensive Loss [Abstract]
Revenue
Operating expenses:
General and administrative expenses	(17,283)	(16,850)	(252,407)	(47,160)	(830,935)
Professional fees	(40,410)	(3,372)	(136,805)	(61,714)	(380,110)
Total operating expenses	(57,693)	(20,222)	(389,212)	(108,874)	(1,211,045)
Loss from operations	(57,693)	(20,222)	(389,212)	(108,874)	(1,211,045)
Other expenses:
Interest expense, including amortization of discount on notes payable of $12,334 and $36,997 for the three and nine months ended September 30, 2013	(32,863)	(4,997)	(92,976)	(7,826)	(422,162)
Loss on fair value adjustment of derivative liability	(168,794)		(170,433)		(170,433)
Proportionate share in loss of investee company					(1,830,189)
Total other expenses	(201,657)	(4,997)	(263,409)	(7,826)	(2,422,784)
Net loss	(259,350)	(25,219)	(652,621)	(116,700)	(3,633,829)
Other comprehensive loss:
Currency translation adjustments	(11,288)		(7,538)		(75,841)
Total comprehensive loss	$ (270,638)	$ (25,219)	$ (660,159)	$ (116,700)	$ (3,709,670)
Basic and diluted loss per share	$ 0.00	$ 0.00	$ (0.01)	$ 0.00
Basic and diluted weighted average number of shares outstanding	94,808,712	93,641,454	94,100,750	91,508,121

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended		189 Months Ended
Condensed Consolidated Statements of Cash Flows (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (652,621)	$ (116,700)	$ (3,633,829)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation			1,421
Stock issued for compensation	36,365		427,665
Accrued interest on note payable converted to common stock	44,878		44,878
Amortization of loan discount	36,997		245,941
Proportionate share in loss of investee company			1,830,189
Loss on fair value adjustment of derivative liability	170,433		244,821
Changes in operating assets and liabilities:
Accounts receivable	(10,307)		(10,307)
Other assets			(40)
Accounts payable and accrued liabilities	46,727		121,406
Accounts payable - related parties	5,694		324,222
Deferred expenses		2,788
Accrued interest payable	11,099	58,836	23,225
Net cash used in operating activities	(310,735)	(55,076)	(380,408)
CASH FLOWS FROM INVESTING ACTIVITIES:
Ownership interest in investee company			(98,850)
Purchase of property and equipment			(1,421)
Net cash used in investing activities			(100,271)
CASH FLOWS FROM FINANCING ACTIVITIES:
Common stock issued for cash	42,452		42,452
Proceeds from note payable	276,682	37,000	514,987
Net cash provided by financing activities	319,134	37,000	557,439
Effects of exchange rate on cash	(7,538)	26,089	(75,841)
NET INCREASE (DECREASE) IN CASH	861	8,013	919
CASH, BEGINNING OF PERIOD	58	1,212
CASH, END OF PERIOD	919	9,225	919
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING TRANSACTIONS:
Discount on convertible notes payable			148,000
Conversion of notes payable and accrued interest to common stock	321,560		671,078
Stock issued for acquisitions			$ 1,797,720

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:
Cash	$ 919	$ 58
Accounts receivable	10,307
Total Current Assets	11,226	58
OTHER ASSETS:
Other assets	40	40
Total Other Assets	40	40
TOTAL ASSETS	11,266	98
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	121,406	74,679
Accounts payable - related parties	324,222	318,528
Accrued interest payable	23,225	12,126
Derivative liability	244,821	74,388
Total Current Liabilities	713,674	479,721
LONG-TERM LIABILITIES:
Convertible notes payable, net of discount	86,331	49,334
TOTAL LIABILITIES	800,005	529,055
STOCKHOLDERS' DEFICIT
Preferred stock, $.00001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding at September 30, 2013 and December 31, 2012
Common stock, $.00005 par value; 300,000,000 shares authorized, 98,074,644 and 93,641,454 shares issued and outstanding at September 30, 2013 and December 31, 2012	4,904	4,682
Additional paid-in capital	2,916,027	2,515,872
Accumulated other comprehensive loss	(75,841)	(68,303)
Deficit accumulated during the development stage	(3,633,829)	(2,981,208)
TOTAL STOCKHOLDERS' DEFICIT	(788,739)	(528,957)
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	$ 11,266	$ 98