VIASPACE Green Energy Inc.

CIK:0001465062|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]
REVENUES	$ 525,000	$ 697,000	$ 1,555,000	$ 2,391,000
REVENUES - RELATED PARTIES	35,000	9,000	49,000	73,000
TOTAL REVENUE	560,000	706,000	1,604,000	2,464,000
COST OF REVENUES	323,000	481,000	1,063,000	1,646,000
GROSS PROFIT	237,000	225,000	541,000	818,000
OPERATING EXPENSES
Operations	21,000	29,000	73,000	86,000
Selling, general and administrative	255,000	286,000	840,000	888,000
Total operating expenses	276,000	315,000	913,000	974,000
LOSS FROM OPERATIONS	(39,000)	(90,000)	(372,000)	(156,000)
OTHER INCOME (EXPENSE)
Other expense	(8,000)	(11,000)	(12,000)	(19,000)
Other income	25,000	6,000	73,000	18,000
Total other income (expense)	17,000	(5,000)	61,000	(1,000)
LOSS BEFORE INCOME TAXES	(22,000)	(95,000)	(311,000)	(157,000)
Income taxes	0	0	0	0
NET LOSS	$ (22,000)	$ (95,000)	$ (311,000)	$ (157,000)
NET LOSS PER SHARE OF COMMON STOCK - Basic and diluted	$ 0.00	$ (0.01)	$ (0.03)	$ (0.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and diluted	10,480,400	10,480,400	10,480,400	10,480,400

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (311,000)	$ (157,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	99,000	87,000
Amortization	84,000	54,000
Bad debt expense	0	23,000
Gain on disposal of fixed assets	(3,000)	0
Changes in operating assets and liabilities:
Accounts receivable	21,000	53,000
Inventory	50,000	48,000
Related party receivables	165,000	55,000
Prepaid expenses	5,000	(7,000)
Other assets	4,000	4,000
Accounts payable	27,000	(107,000)
Related party payables	41,000	(6,000)
Accrued expenses	(3,000)	18,000
Income tax payable	(1,000)	0
Net cash provided by operating activities	178,000	65,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid for purchase of fixed assets	(16,000)	(68,000)
Proceeds from disposal of fixed assets	8,000	0
Cash paid for land leases	0	(135,000)
Net cash used in investing activities	(8,000)	(203,000)
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS	0	19,000
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	170,000	(119,000)
CASH AND CASH EQUIVALENTS, Beginning of period	144,000	202,000
CASH AND CASH EQUIVALENTS, End of period	314,000	83,000
Supplemental Disclosure of Cash Flow Information:
Interest	0	0
Income taxes	1,000	0
Noncash Investing and Financing Activities:
Change in fair value of available-for-sale securities	665,000	196,000
Available-for-sale securities received for related party receivable	$ 0	$ 1,221,000

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Cash and equivalents	$ 314,000	$ 144,000
Accounts receivable, net	38,000	59,000
Inventory	175,000	225,000
Prepaid expenses	21,000	26,000
Related party receivables	9,000	135,000
Other current assets	6,000	10,000
TOTAL CURRENT ASSETS	563,000	599,000
FIXED ASSETS, NET	925,000	1,013,000
OTHER ASSETS:
Land use rights, net	637,000	702,000
License to grass, net	357,000	376,000
Goodwill	602,000	602,000
Marketable securities	1,126,000	1,791,000
Related party receivables	0	40,000
Other assets	10,000	10,000
TOTAL OTHER ASSETS	2,732,000	3,521,000
TOTAL ASSETS	4,220,000	5,133,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	138,000	112,000
Related party payables	105,000	63,000
Accrued expenses	205,000	208,000
Income taxes payable	26,000	28,000
TOTAL CURRENT LIABILITIES	474,000	411,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value, 50,000,000 shares authorized, 10,480,400 issued and outstanding as of September 30, 2014 and December 31, 2013	10,000	10,000
Additional paid-in capital	17,983,000	17,983,000
Accumulated other comprehensive income	(550,000)	115,000
Accumulated deficit	(13,697,000)	(13,386,000)
Total stockholders' equity	3,746,000	4,722,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 4,220,000	$ 5,133,000