Greenfield Farms Food, Inc.

CIK:0001440517|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Sales
Food and beverage	$ 323,075	$ 372,670	$ 623,505	$ 726,083
Vending receipts	680	1,384	911	4,018
Total sales	323,755	374,054	624,416	730,101
Cost of Goods Sold	343,822	305,847	616,698	629,319
Gross Profit	(20,067)	68,206	7,718	100,782
Operating Expenses
Legal, accounting and professional fees	919	15,869	1,833	37,643
Rent	16,400	16,250	29,350	27,950
Depreciation	5,648	5,536	11,296	10,691
General and administrative expenses, other	51,207	55,704	81,413	121,087
Total Operating Expenses	74,174	93,358	123,892	197,371
Loss From Operations	(94,241)	(25,152)	(116,174)	(96,589)
Other Expenses (Income)
Interest expense	66,085	48,185	131,423	114,380
Derivative expense (income)	(307,013)	(7,791)	343,207	(85,863)
Total Other Expenses (Income), net	(240,928)	40,394	474,630	28,517
Income (Loss) Before Provision for Income Tax	146,687	(65,546)	(590,804)	(125,106)
Provision for Income Tax
Net Income (loss)	$ 146,687	$ (65,546)	$ (590,804)	$ (125,106)
Weighted Average Number of Shares Outstanding:
Basic and Diluted	2,793,911,702	703,198,699	2,568,143,376	905,846,969
Net Loss per Share:
Basic and Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities
Net loss	$ (590,804)	$ (125,106)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation	11,296	10,691
Amortization of deferred financing costs		3,167
Amortization of discount on debt	69,892	73,950
Derivative liability expense (income)	343,207	(85,863)
Changes in Assets and Liabilities
Increase in other assets	(1,037)
Increase in credit card receivable	(1,140)	(11,671)
Increase in deferred debt charges		(3,000)
Increase (decrease) in accounts payable and accrued expenses	(59,377)	26,396
Increase in accounts payable - related parties	127,019
Increase in accrued wages and interest	55,198	14,164
Net Cash used in Operating Activities	(45,746)	(97,272)
Cash Flows from Investing Activities:
Purchases of equipment		(9,162)
Decrease in security deposits	303
Net Cash provided by (used in) Investing Activities	303	(9,162)
Cash Flows from Financing Activities:
Proceeds from notes payable - related parties, net		100,455
Proceeds from convertible notes payable	234,600	33,000
Payments of notes payable - related parties, net	(108,130)
Payments of notes payable	(22,200)	(300)
Payments on convertible notes payable	(57,000)	(4,367)
Net Cash provided by Financing Activities	47,270	128,788
Net Increase in Cash	1,827	22,354
Cash, Beginning of Period	25,725	54,423
Cash, End of Period	27,552	76,777
Supplemental Cash Flow Information:
Cash paid for interest	2,400	17
Cash paid for income taxes
Non-Cash Investing and Financing Activities:
Debt discount from fair value of embedded derivatives	$ 279,565	$ 20,600
Shares issued for debt and interest on convertible notes	50,010	10,400
Reclassification of derivatives for conversion of convertible notes	$ 137,648

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current Assets
Cash	$ 27,552	$ 25,725
Credit card receivables	9,106	7,966
Inventory	33,848	33,848
Other current assets	1,037
Total Current Assets	71,543	67,539
Property and Equipment
Equipment	187,933	187,933
Accumulated depreciation	(151,389)	(140,093)
Property and equipment, net	36,544	47,840
Other Assets
Security deposits	3,825	4,128
Total Assets	111,912	119,507
Current Liabilities
Accounts payable and accrued expenses	44,721	104,096
Accounts payable - related parties	130,085	3,066
Accrued wages and payroll expenses	14,389	18,281
Accrued interest	182,503	129,455
Derivative liability	1,816,876	1,376,717
Notes payable	81,000	103,200
Notes payable - related parties	532,762	640,892
Convertible notes payable, net of debt discount	318,809	349,885
Total Liabilities	3,121,145	2,725,592
Stockholders' Deficit
Preferred stock, par value $.001 50,000,000 shares authorized;
Common stock, par value $.001 6,450,000,000 shares authorized;3,008,287,961 and 1,867,911,083 shares issued and outstanding, respectively	3,008,288	1,867,911
Additional paid-in capital	(1,056,504)	(103,784)
Accumulated deficit	(4,961,159)	(4,370,355)
Total Stockholders' Deficit	(3,009,233)	(2,606,085)
Total Liabilities and Stockholders' Deficit	111,912	119,507
Preferred Stock D [Member]
Stockholders' Deficit
Preferred stock, par value $.001 50,000,000 shares authorized;	1	1
Preferred Class A [Member]
Stockholders' Deficit
Preferred stock, par value $.001 50,000,000 shares authorized;	97	97
Preferred Class B [Member]
Stockholders' Deficit
Preferred stock, par value $.001 50,000,000 shares authorized;	44	44
Preferred Stock E [Member]
Stockholders' Deficit
Preferred stock, par value $.001 50,000,000 shares authorized;
Preferred Stock F [Member]
Stockholders' Deficit
Preferred stock, par value $.001 50,000,000 shares authorized;