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GREEN AUTOMOTIVE COMPANY

(GACR)
Delayed OTC Markets  -  09:30 2022-09-27 am EDT
0.002000 USD   +5.26%
08/12Green Automotive : Financial Statements as of June 30, 2022 and December 31, 2021and the Six Months Ended June 30, 2022 and 2021
PU
08/12Green Automotive : Information and Disclosure Statement for the Quarter ended June 30, 2022
PU
04/23Green Automotive : Amended Disclosure Statement For the Year Ended December 31, 2021
PU
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Green Automotive : Financial Statements as of June 30, 2022 and December 31, 2021and the Six Months Ended June 30, 2022 and 2021

08/12/2022 | 08:53pm EDT

Green Automotive Company

Financial Statements as of June 30, 2022 and December 31, 2021and the Six Months Ended June 30, 2022 and 2021

1

GREEN AUTOMOTIVE COMPANY

INDEX TO FINANCIAL STATEMENTS

TABLE OF CONTENTS

PAGE

BALANCE SHEETS

3

STATEMENTS OF OPERATIONS

4

STATEMENTS OF CASH FLOWS

5

STATEMENTS OF STOCKHOLDERS' EQUITY

6

NOTES TO FINANCIAL STATEMENTS

7-17

2

GREEN AUTOMOTIVE COMPANY

Balance Sheets

June 30, 2022 and December 31, 2021

(Unaudited)

June 30,

December 31,

2022

2021

ASSETS

Current Assets

Cash

$

320

$

389

Accounts receivable

10,000

-

Total Current Assets

10,320

389

Total Assets

$

10,320

$

389

LIABILITIES AND STOCKHOLDERS' (DEFICIT)

Current Liabilities

Accounts payable and accrued expenses

$

136,882

$

170,199

Accounts payable and accrued expenses-Related party

226,845

171,318

Advances payable

38,500

35,000

Notes payable-Related party

124,997

99,243

Derivative liability

2,668,181

2,668,181

Total Current Liabilities

3,195,405

3,143,941

Long Term Liabilities

Notes payable-Related party

250,003

275,757

Total Liabilities

3,445,408

3,419,698

Commitments and contingencies

-

-

Stockholders (Deficit)

Preferred stock, Class A convertible, $.001 par value,

2,000,000 shares authorized, 2,000,000 shares issued

and outstanding at June 30, 2022 and December 31,

2021

2,000

2,000

Preferred stock, Class Y convertible, $.001 par value,

40,000,000 shares authorized, 35,561,651 shares issued

and outstanding at June 30, 2022 and December 31,

2021

35,562

35,562

Common stock, $.001 par value, 1,950,000,000 shares

authorized; 1,045,595,531 issued and outstanding at

1,045,596

1,045,596

June 30, 2022 and December 31, 2021

Additional paid-in capital

48,541,303

48,541,303

Accumulated (Deficit)

(53,059,549)

(53,043,770)

Total Stockholders' (Deficit)

(3,435,088)

(3,419,309)

Total Liabilities and Stockholders' (Deficit)

$

10,320

$

389

The accompanying footnotes are an integral part of these unaudited financial statement.

3

GREEN AUTOMOTIVE COMPANY

Statements of Operations

(Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

2022

2021

2022

2021

Revenues

$

15,000

$

-

$

30,000

$

-

Total revenues

15,000

-

30,000

-

Operating Expenses

General and administrative

19,236

12,100

39,947

25,420

Total operating expenses

19,236

12,100

39,947

25,420

(Loss) before other expenses

(4,236)

(12,100)

(9,947)

(25,420)

Other income/(expense)

Interest expense-Related party

(2,927)

(2,805)

(5,832)

(5,579)

Debt relief

-

-

-

56,614

Total other

(2,927)

(2,805)

(5,832)

51,035

Income before income taxes

(7,163)

(14,905)

(15,779)

25,615

Income taxes

-

-

-

-

Net income/(loss)

$

(7,163)

$

(14,905)

$

(15,779)

$

25,615

Income per share-Basic and diluted

$

(0.00)

$

(0.00)

$

(0.00)

$

0.00

Weighted average shares outstanding

Basic and diluted

1,045,595,531

1,045,595,531

1,045,595,531

1,045,595,531

The accompanying footnotes are an integral part of these unaudited financial statement.

4

GREEN AUTOMOTIVE COMPANY

Statements of Stockholders' (Deficit)

For the Three and Six Months Ended June 30, 2022 and 2021

(Unaudited)

Preferred Stock

Common Stock

Additional

Accumulated

Stockholders'

Series A

Balance-January 1, 2021

Series Y Shares

Amount

Shares

Amount

Shares

Amount

Paid-in Capital

(Deficit)

(Deficit)

35,561,651

$35,562

2,000,000

$

2,000

1,045,595,531

$ 1,045,596

$

48,541,303

$(53,026,059)

$ (3,401,598)

Net income for the three months ended

March 31, 2021

-

-

-

-

-

-

-

40,520

40,520

Balance-March 31, 2021

35,561,651

35,562

2,000,000

2,000

1,045,595,531

1,045,596

48,541,303

(52,985,539)

(3,361,078)

Net income for the three months ended

-

-

-

-

-

-

-

(14,905)

(14,905)

June 30, 2021

Balance-June 30, 2021

35,561,651

$35,562

2,000,000

$

2,000

1,045,595,531

$ 1,045,596

$

48,541,303

$(53,000,444)

$ (3,375,983)

Preferred Stock

Common Stock

Additional

Accumulated

Stockholders'

Series A

Balance-January 1, 2022

Series Y Shares

Amount

Shares

Amount

Shares

Amount

Paid-in Capital

(Deficit)

(Deficit)

35,561,651

$35,562

2,000,000

$

2,000

1,045,595,531

$ 1,045,596

$

48,541,303

$(53,043,770)

$ (3,419,309)

Net (loss) for the three months ended

March 31, 2022

-

-

-

-

-

-

-

(8,616)

(8,616)

Balance-March 31, 2022

35,561,651

35,562

2,000,000

2,000

1,045,595,531

1,045,596

48,541,303

(53,052,386)

(3,427,925)

Net (loss) for the three months ended

June 30, 2022

-

-

-

-

-

-

-

(7,163)

(7,163)

Balance-June 30, 2022

35,561,651

$35,562

2,000,000

$

2,000

1,045,595,531

$ 1,045,596

$

48,541,303

$(53,059,549)

$ (3,435,088)

The accompanying footnotes are an integral part of these unaudited financial statement.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Green Automotive Co. published this content on 13 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2022 00:52:00 UTC.


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