Green Innovations Ltd.

CIK:0001491471|SEC Filings

Consolidated Statements of Operations (USD $)	12 Months Ended
Consolidated Statements of Operations (USD $)	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements Of Operations
Revenue, net	$ 4,159,562us-gaap_Revenues	$ 1,867,788us-gaap_Revenues
Operating expenses
Direct costs of revenue	3,155,448us-gaap_CostOfRevenue	1,725,243us-gaap_CostOfRevenue
General and administrative (includes $914,514 and $2,463,993 for the years ended December 31, 2014 and 2013, respectively, of stock-based compensation and settlements)	3,777,621	4,526,261
Selling and marketing expenses	2,024,223us-gaap_SellingAndMarketingExpense	375,459us-gaap_SellingAndMarketingExpense
Reserve for obsolete inventory		160,903gnin_ReserveForObsoleteInventory
Operating loss	(4,797,730)us-gaap_OperatingIncomeLoss	(4,920,078)us-gaap_OperatingIncomeLoss
Other income (expense)
Beneficial conversion feature expense	(1,514,711)	(645,259)
Gain on sale of investment	321,455us-gaap_GainLossOnSaleOfInvestments
Gain on cancellation of stock	1,707gnin_GainOnCancellationOfStock
Loss on conversion of notes payable into common stock	(131,079)
Loss on issuance of stock	(433,359)
Loss on sales of stock	(3,705)
Loss on settlement of notes	(39,805)us-gaap_GainLossOnSaleOfNotesReceivable	(17,162)us-gaap_GainLossOnSaleOfNotesReceivable
Loss on settlement of receivable		(106,270)
Loss on cost of financing		(7,561)
Loss on financing		(1,988,467)
Loss on issuance of stock for services		(28,292)
Loss on debt discount		(21,128)us-gaap_GainLossOnNonRecourseDebt
Change in derivatives	(678,650)us-gaap_UnrealizedGainLossOnDerivatives	126,433us-gaap_UnrealizedGainLossOnDerivatives
Interest expense - amortization	(94,370)us-gaap_AmortizationOfFinancingCosts	(577,515)us-gaap_AmortizationOfFinancingCosts
Interest expense	(426,092)us-gaap_InterestExpense	(165,876)us-gaap_InterestExpense
Total other income (expense)	(2,998,609)us-gaap_OtherIncome	(3,431,097)us-gaap_OtherIncome
Net loss	$ (7,796,339)us-gaap_NetIncomeLoss	$ (8,351,175)us-gaap_NetIncomeLoss
Net loss per share - basic and diluted	$ (0.001)us-gaap_EarningsPerShareBasicAndDiluted	$ (0.19)us-gaap_EarningsPerShareBasicAndDiluted
Weighted average number of shares outstanding - Basic and Diluted	7,095,749,518	42,969,972

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
Consolidated Statements of Cash Flows (USD $)	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (7,796,339)us-gaap_NetIncomeLoss	$ (8,351,175)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operations:
Amortization of intangibles	59,333us-gaap_AmortizationOfIntangibleAssets	37,982us-gaap_AmortizationOfIntangibleAssets
Amortization of debt discounts to interest expense	94,370	577,515
Amortization of beneficial conversion features to interest expense	1,514,711	645,259
Issuance of common stock for services	914,514	2,463,993
Derivative liability		347,223
Gain on sale of investment	(321,455)gnin_GainOnSaleOfInvestment
Change in derivatives	895,841
Loss on settlement of receivable		106,270
Loss on issuance of stock for settlements		28,292
Loss on financing		1,988,467
Loss on cost of financing		7,561gnin_LossOnCostOfFiancing
Loss on debt discount		5,000gnin_LossOnDebtDiscount
Loss on sales of stock	3,705gnin_LossOnSalesOfStock1
Loss on settlement of notes	39,805gnin_LossOnSettlementOfNotes1	17,162gnin_LossOnSettlementOfNotes1
Loss on issuance of stock	433,359gnin_LossOnIssuanceOfStock1	16,128gnin_LossOnIssuanceOfStock1
Loss on conversion of notes payable into common stock	131,079
Gain on cancellation of stock	(1,707)gnin_GainOnCancellationOfStock1
Changes in operating assets and liabilities:
Accounts receivable	(69,505)	99,072
Other receivable	(2,500)
Inventory, net	946,318us-gaap_IncreaseDecreaseInInventories	(1,924,696)us-gaap_IncreaseDecreaseInInventories
Prepaid expense	422,064	(438,366)
Other assets	(2,456)	(42,647)
Accounts payable	727,031	(98,486)
Accounts payable to related parties	40,196	10,119
Accrued expenses	733,946	11,384
Accrued expenses to related parties	60,529
Guaranteed value of stock	(181,774)	69,306
Net cash used in operating activities	(1,358,934)	(4,424,637)
Cash flows from financing activities:
Proceeds from notes	1,389,996us-gaap_ProceedsFromNotesPayable	2,870,423us-gaap_ProceedsFromNotesPayable
Repayment of note	(641,912)us-gaap_RepaymentsOfDebt	(328,520)us-gaap_RepaymentsOfDebt
Derivative liability		347,223gnin_DerivativeLiability
Proceed from line of credit	680,000us-gaap_ProceedsFromLinesOfCredit
Conversion of notes into common stock	(86,816)gnin_ConversionOfNotesIntoCommonStock
Proceed from issuance of prefered stock		500gnin_ProceedFromIssuanceOfPreferedStock
Proceeds from issuance of common stock	28,522	1,527,572
Net cash provided by financing activities	1,369,790	4,417,199
Net decrease in cash	10,856us-gaap_CashPeriodIncreaseDecrease	(7,438)us-gaap_CashPeriodIncreaseDecrease
Cash at beginning of period	38,305	45,743
Cash at end of period	49,161	38,305
Supplemental disclosure of cash flow information:
Cash paid for interest	129,394us-gaap_InterestPaid
Cash paid for taxes
Non-cash investing and financing activities:
Cancellation of common stock		(500)gnin_CancellationOfCommonStock
Issuance of preferred stock		500gnin_IssuanceOfPreferredStock
Issuance of common stock for trademarks		600,000gnin_IssuanceOfCommonStockForTrademarks
Conversion of liabilities to notes payable		100,000
Issuance of stock as condition of loan		$ 1,079,348gnin_IssuanceOfStockAsConditionOfLoan

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current assets
Cash	$ 49,157us-gaap_Cash	$ 38,305us-gaap_Cash
Accounts receivable	160,732us-gaap_AccountsReceivableNetCurrent	91,227us-gaap_AccountsReceivableNetCurrent
Other receivable	2,500
Inventory, net	1,053,257us-gaap_InventoryNet	1,999,575us-gaap_InventoryNet
Prepaid expense	19,302us-gaap_PrepaidExpenseCurrent	441,366us-gaap_PrepaidExpenseCurrent
Total current assets	1,284,948us-gaap_AssetsCurrent	2,570,473us-gaap_AssetsCurrent
Intangible assets, net	779,078us-gaap_OtherAssetsNotAllowed	838,411us-gaap_OtherAssetsNotAllowed
Other assets	45,203us-gaap_OtherAssets	42,747us-gaap_OtherAssets
Total assets	2,109,229us-gaap_Assets	3,451,631us-gaap_Assets
Current liabilities
Convertible notes payable, net of discounts	3,903,173us-gaap_ConvertibleNotesPayableCurrent	1,781,272us-gaap_ConvertibleNotesPayableCurrent
Convertible notes payable, net of discounts, to related parties	742,906	320,000
Accounts payable	849,432us-gaap_AccountsPayableCurrent	122,403us-gaap_AccountsPayableCurrent
Accounts payable to related parties	72,149	31,953
Accrued expenses	795,000us-gaap_AccruedLiabilitiesCurrent	61,054us-gaap_AccruedLiabilitiesCurrent
Accrued expenses to related parties	60,529gnin_AccruedExpensesToRelatedParties
Guaranteed value of stock	251,080us-gaap_GuaranteedBenefitLiabilityNet	69,306us-gaap_GuaranteedBenefitLiabilityNet
Total current liabilities	6,674,269us-gaap_LiabilitiesCurrent	2,385,988us-gaap_LiabilitiesCurrent
Long-term liabilities
Convertible notes, net of discounts		216,139us-gaap_LongTermNotesPayable
Total long-term liabilities		216,139us-gaap_LiabilitiesNoncurrent
Amounts payable in common stock	2,776,068gnin_AmountsPayableInCommonStock	1,079,348gnin_AmountsPayableInCommonStock
Derivative liability	2,776,068us-gaap_DerivativeLiabilities	347,223us-gaap_DerivativeLiabilities
Total liabilities	12,226,405us-gaap_Liabilities	4,028,698us-gaap_Liabilities
Stockholders' deficit
Preferred stock, $0.0001 par value, 50,000,000 shares authorized Series A preferred stock, 5,000,000 shares authorized, 4,750,000 and 5,000,000 shares issued and outstanding, respectively	475us-gaap_PreferredStockValue	500us-gaap_PreferredStockValue
Series B preferred stock, 250,000 shares authorized, 250,000 and 0 shares issued and outstanding, respectively	25gnin_PreferredStockSeriesBValue
Common stock, $0.0001 par value, 150,000,000 shares authorized, 27,836,276,294 and 85,252,830 shares issued, issuable and outstanding, respectively (27,737,584,090 and 27,149,158 shares issuable, respectively)	2,783,628us-gaap_CommonStockValue	8,525us-gaap_CommonStockValue
Additional paid-in capital	4,435,695us-gaap_AdditionalPaidInCapital	8,954,568us-gaap_AdditionalPaidInCapital
Accumulated deficit	(17,336,999)	(9,540,660)
Total stockholders' deficit	(10,117,176)us-gaap_StockholdersEquity	(577,067)us-gaap_StockholdersEquity
Total liabilities and stockholders' deficit	$ 2,109,229	$ 3,451,631