GroGenesis, Inc.

CIK:0001497055|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 28, 2018	Feb. 28, 2017
Income Statement
Revenue	$ 1,392		$ 63,978
Cost of sales	370		40,992
Gross profit	1,022		22,986
Expenses:
Consulting fees	124,025	$ 1,082,853	376,336	$ 1,511,387
Depreciation	2,824	2,684	6,699	9,090
General and administrative	47,300	25,570	291,330	81,872
Transfer agent and filing fees	2,806	3,501	19,221	8,899
Professional fees	26,748	35,011	181,326	176,112
Total expenses	203,703	1,149,619	874,912	1,787,360
Loss from operations	(202,681)	(1,149,619)	(851,926)	(1,787,360)
Other income (expense)
Gain (loss) on disposal of fixed assets			(4,025)
Amortization of debt discount	28,558		28,558
Interest expense	694	446	2,221	2,452
Total other income (expense)	(29,252)	(446)	(34,804)	(2,452)
Net loss	(231,933)	(1,150,065)	(886,730)	(1,789,812)
Net income (loss) attributed to non-controlling interest	14,204		32,470
Net loss attributed to GroGenesis	$ (217,729)	$ (1,150,065)	$ (854,260)	$ (1,789,812)
Net loss per share - basic and diluted	$ 0	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average shares outstanding - basic and diluted	105,046,400	96,340,178	101,806,396	91,603,744

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (886,730)	$ (1,789,812)
Adjustments to reconcile net cash used in operating activities:
Depreciation	6,699	9,090
Common shares issued for services		1,087,374
Stock options issued for services		148,677
Gain (loss) on disposal of fixed assets	(4,025)
Amortization of debt discount	28,558
Change in operating assets and liabilities
(Increase) decrease in accounts receivable	(45,613)	13,529
(Increase) decrease in prepaid expenses	(12,772)	4,635
(Increase) decrease in advances	3,158	(12,199)
(Increase) decrease in inventory	417	629
Increase (decrease) in accounts payable and accrued liabilities	90,084	61,165
Increase (decrease) in related party payables	(16,192)	(11,940)
Increase (decrease) in deferred revenue	(393)
Net cash used in operating activities	(828,759)	(488,852)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	9,153	3,825
Net cash used in investing activities	(9,153)	(3,825)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock	574,322	531,000
Proceeds from share subscriptions	187,800
Payments for note payable	534	1,922
Proceeds from notes payable from related parties	75,000
Net cash provided by financing activities	836,588	529,078
Net increase (decrease) in cash	(1,324)	36,401
Cash - beginning of period	1,513	12,387
Cash - end of period	189	48,788
SUPPLEMENTAL INFORMATION:
Interest paid	116	822
Income taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Treasury stock acquired for property and equipment		$ 94,926

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Feb. 28, 2018	May 31, 2017
Current assets:
Cash	$ 189	$ 1,513
Accounts receivable	45,613
Prepaid expenses	25,178	12,406
Advances		3,158
Inventory	4,000	4,417
Total current assets	74,980	21,494
Other assets
Property, plant and equipment	14,740	21,341
Total other assets	14,740	21,341
Total assets	89,720	42,835
Current liabilities:
Accounts payable and accrued liabilities	348,474	258,390
Current portion of long-term debt		3,383
Related party payables	161,352	177,544
Convertible notes payable - related party	28,558
Deferred revenue	8,259	8,652
Total current liabilities	546,643	447,969
Long-term liabilities:
Long-term debt		2,181
Total long-term liabilities		2,181
Total liabilities	546,643	450,150
STOCKHOLDER'S EQUITY (DEFICIT):
Common stock value	105,046	99,303
Common stock subscribed value	222,800	35,000
Additional paid-in capital	5,203,041	4,559,462
Accumulated deficit	(5,844,635)	(4,990,375)
Common stock in treasury	94,926	94,926
Non-controlling interest	(48,249)	(15,779)
Total stockholders' equity (deficit)	(456,923)	(407,315)
Total liabilities and stockholders' equity (deficit)	$ 89,720	$ 42,835