10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

_______________________

FORM 10-Q

_______________________

(Mark One)

☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended June 30, 2023

or

☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from___________ to ____________

Commission file number 000-52622

GREEN PLANET BIOENGINEERING CO., LTD.

(Exact Name of Registrant as Specified in its charter)

Delaware	37-1532842
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)
20807 Biscayne Blvd., Suite 203,
Aventura, Florida	33180
(Address of principal executive offices)	(Zip Code)

(786) 279-2900

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☒
(Do not check if a smaller company)

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☒  No  ☐

The number of shares of common stock outstanding as of August 10, 2023 was 20,006,402.

TABLE OF CONTENTS

		Page Number
PART I	FINANCIAL INFORMATION
Item 1.	Financial Statements	4
	Balance Sheets as of June 30, 2023 (Unaudited) and December 31, 2022	4
	Statements of Operations for the Three and Six Months Ended June 30, 2023 and 2022 (Unaudited)	5
	Statements of Stockholders’ Deficit for the Three and Six Months Ended June 30, 2023 and 2022 (Unaudited)	6
	Statements of Cash Flows for the Six Months Ended June 30, 2023 and 2022 (Unaudited)	7
	Condensed Notes to the Financial Statements (Unaudited)	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	11
Item 4.	Controls and Procedures	11
PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	12
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	12
Item 3.	Defaults upon Senior Securities	12
Item 4.	Reserved	12
Item 5.	Other Information	12
Item 6.	Exhibits	12
SIGNATURES		13

2

INTERIM FINANCIAL STATEMENTS

The unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States for interim financial information and with the instructions under Regulation S-X of the Securities and Exchange Commission (“SEC”) Form 10-Q. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31, 2022.

The financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position as of the period reporting date, and the results of its operations and cash flows for the fiscal period end. The results of operations for the fiscal period end are not necessarily indicative of the results to be expected for future quarters or the full fiscal year.

 FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934.  These statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses.  Such forward-looking statements include, among others, those statements including the words “expects,” “anticipates,” “intends,” “believes,” “may,” “will,” “should,” “could,” “plans,” “estimates,” and similar language or negative of such terms.  Our actual results may differ significantly from those projected in the forward-looking statements.  Factors that might cause or contribute to such differences include, but are not limited to, those discussed in Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”  You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report.  Although we believe that the expectations reflected in the forward-looking statements are reasonable, we do not know whether we can achieve positive future results, levels of activity, performance, or goals.  Actual events or results may differ materially.  We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances taking place after the date of this document.

3

PART I FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Green Planet Bioengineering Co., Ltd.

Balance Sheets

	June 30,			December 31,
	2023			2022
	(Unaudited)
ASSETS
Current assets
Cash	$	-		$	-
TOTAL CURRENT ASSETS	$	-		$	-
LIABILITIES AND STOCKHOLDERS’ DEFICIT
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	$	4,000		$	-
Amount due to a related party		404,288			381,920
TOTAL CURRENT LIABILITIES		408,288			381,920
Commitments and Contingencies (Note 6)
STOCKHOLDERS’ DEFICIT
Preferred stock : par value of $0.001 per share, Authorized: 10,000,000 shares at June 30, 2023 and December 31, 2022 Issued and outstanding : 0 shares at June 30, 2023 and December 31, 2022		-			-
Common stock : par value $0.001 per share Authorized : 250,000,000 shares at June 30, 2023 and December 31, 2022 Issued and outstanding : 20,006,402 shares at June 30, 2023 and December 31, 2022		20,006			20,006
Additional paid-in capital		609,614			609,614
Accumulated deficit		(1,037,908	)		(1,011,540	)
TOTAL STOCKHOLDERS’ DEFICIT		(408,288	)		(381,920	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	-		$	-

See Condensed Notes to the Unaudited Financial Statements

4

Green Planet Bioengineering Co., Ltd.

Statements of Operations

(Unaudited)

	Three months ended June 30,						Six months ended June 30,
	2023			2022			2023			2022
Administrative expenses	$	(8,528	)	$	(5,449	)	$	(26,368	)	$	(19,107	)
Loss before income taxes		(8,528	)		(5,449	)		(26,368	)		(19,107	)
Provision for income taxes		-			-			-			-
Net Loss	$	(8,528	)	$	(5,449	)	$	(26,368	)	$	(19,107	)
Loss per share - Basic and diluted	$                                         (*)			$                                        (*)			$                                         (*)			$                                        (*)
Weighted average number of shares outstanding
-Basic and diluted		20,006,402			20,006,402			20,006,402			20,006,402
*  Less than $.01, per share

See Condensed Notes to the Unaudited Financial Statements

5

Green Planet Bioengineering Co., Ltd

Statements of Changes in Stockholders’ Deficit

For the Three and Six Months Ended June 30, 2023 and 2022

(Unaudited)

	Preferred Stock				Common Stock				Additional
	Number				Number				paid-in		Accumulated
	of shares		Amount		of shares		Amount		capital		deficit			Total
Balance, December 31, 2021		-	$	-		20,006,402	$	20,006	$	609,614	$	(979,007	)	$	(349,387	)
Net loss for the six months		-		-		-		-		-		(19,107	)		(19,107	)
Balance, June 30, 2022 (Unaudited)		-			$	20,006,402	$	20,006	$	609,614	$	(998,114	)	$	(368,494	)
Balance, March 31, 2022		-	$	-		20,006,402	$	20,006	$	609,614	$	(992,665	)	$	(363,045	)
Net loss for the three months		-		-		-		-		-		(5,449	)		(5,449	)
Balance June 30, 2022 (Unaudited)		-			$	20,006,402	$	20,006	$	609,614	$	(998,114	)	$	(368,494	)
Balance, December 31, 2022		-	$	-		20,006,402	$	20,006	$	609,614	$	(1,011,540	)	$	(381,920	)
Net loss for the six months		-		-		-		-		-		(26,368	)		(26,368	)
Balance, June 30, 2023 (Unaudited)		-			$	20,006,402	$	20,006	$	609,614	$	(1,037,908	)	$	(408,288	)
Balance, March 31, 2023		-	$	-		20,006,402	$	20,006	$	609,614	$	(1,029,380	)	$	(399,760	)
Net loss for the three months		-		-		-		-		-		(8,528	)		(8,528	)
Balance June 30, 2023 (Unaudited)		-			$	20,006,402	$	20,006	$	609,614	$	(1,037,908	)	$	(408,288	)

See Condensed Notes to the Unaudited Financial Statements

6

Green Planet Bioengineering Co., Ltd.

Statements of Cash Flows

(Unaudited)

	Six months ended June 30,
	2023			2022
Cash flows from operating activities
Net loss	$	(26,368	)	$	(19,107	)
Changes in operating assets and liabilities :
Accounts payable and accrued liabilities		4,000			-
Net cash flows used by operating activities	$	(22,368	)	$	(19,107	)
Cash flows from investing activities		-			-
Cash flows from financing activities
Amount due to a related company	$	22,368		$	19,107
Net cash flows provided by financing activities		22,368			19,107
Net change in cash		-			-
Cash - beginning of period		-			-
Cash - end of period	$	-		$	-
Supplemental disclosures for cash flow information:
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-

See Condensed Notes to the Unaudited Financial Statements

7

Green Planet Bioengineering Co., Ltd

Condensed Notes to the Financial Statements

(Unaudited)

1. General Information

Mondo Acquisition II, Inc. was incorporated in the State of Delaware on October 30, 2006 and changed the name to Green Planet Bioengineering Co., Ltd. (“Company”) on October 2, 2008. In October 2008, the Company acquired Elevated Throne Overseas Ltd, incorporated in British Virgin Islands, and its subsidiaries which was subsequently divested to One Bio, Corp (“ONE”) on April 14, 2010. 

In March 2012, the Company became a subsidiary of Global Fund Holdings Corp. (“Global Funds”) an Ontario, Canada Corporation.

The Company operates as a public reorganized shell corporation with the purpose to acquire or merge with an existing business operation.  The Company’s activities are subject to significant risks and uncertainties, as their ability to implement and execute future business plans and generate sufficient business revenue is directly influenced by their ability to secure adequate financing or find profitable business opportunities.

2. Summary of significant accounting policies

Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-K. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal and recurring adjustments have been made. Operating results for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the years reported.  Actual results could differ from those estimates.  Significant items that require estimates were accruals of liabilities.

Cash and cash equivalents

Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less to be cash equivalents. Balances of cash and cash equivalents in financial institutions may at times exceed the government-insured limits.

Loss per share

Earnings per share is reported in accordance with FASB ASC Topic 260 “Earnings per Share” which requires dual presentation of basic earnings per share (“EPS”) and diluted EPS on the face of all statements of earnings, for all entities with complex capital structures.  Diluted EPS reflects the potential dilution that could occur from common shares issuable through the exercise or conversion of stock options, restricted stock awards, warrants and convertible securities. In certain circumstances, the conversion of these options, warrants and convertible securities are excluded from diluted EPS if the effect of such inclusion would be anti-dilutive.  Fully diluted EPS is not provided, when the effect is anti-dilutive. When the effect of dilution on loss per share is anti-dilutive, diluted loss per share equals the loss per share.  As of June 30, 2023 and 2022, the Company does not have any common share equivalents outstanding.

8

2. Summary of Significant Accounting Policies – continued

Fair Value Measurements

FASB ASC Topic 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP, and expands disclosures about fair value measurements. Investment measured and reported at fair value are classified and disclosed in one of the following hierarchy:

Level 1 -	Quoted prices are available in active markets for identical investments as of the period reporting date.
Level 2 -	Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies.
Level 3 -	Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation.

Recent Changes in Accounting Standards

Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed financial statements.

3. Going Concern

The unaudited condensed financial statements have been prepared assuming that the Company will continue as a going concern. As at June 30, 2023, the Company has a working capital deficit of $408,288, and accumulated deficit of $1,037,908 and a net loss of $26,368, for the six months ended June 30, 2023.  The Company is currently a public reorganized shell corporation and has no current business activity. The Company’s ability to continue as a going concern is dependent on continued support from a related party of the majority stockholder. This gives rise to substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance date of this filing.

4. Amount Due to a Related Company

The Company relies on a related party of the majority stockholder to advance funds to finance its operating expenses. The Company’s Chief Executive Officer, Chief Financial Officer and Director of the Company is also a director of the related party. The amounts advanced of $404,288 are interest-free, unsecured and are repayable upon demand.

5. Stockholders’ Deficit

Series A Preferred stock

The Company is authorized under its Articles of Incorporation to issue 10,000,000 shares of Series A preferred stock with a par value of $0.001 per share. Each share of the Company’s preferred stock provides the holder with the right to vote 1,000 votes on all matters submitted to a vote of the stockholders of the Company and is convertible into 1,000 shares of the Company’s common stock. The preferred stock is non-participating and carries no dividend. The Company does not have any issued shares of the preferred stock as of June 30, 2023 and December 31, 2022.

Common stock

The Company is authorized to issue 250,000,000 shares of common stock with a par value of $0.001 per share. During the six months ended June 30, 2023, the Company did not issue any shares of common stock or warrants. 

6. Commitments and Contingencies

The Company does not have any commitments and contingencies during the six months ended June 30, 2023.

7. Subsequent Events

The related party advanced the Company $4,000 from July 1, 2023 through the date of filing.

9

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General Overview

The Company operates as a public reorganized corporation with the business purpose to acquire or merge with an existing business operation.

Results of Operations and Financial Condition for the six months ended June 30, 2023, as compared to the six months ended June 30, 2022.

The Company had no active business operations for the periods ended June 30, 2023 and June 30, 2022. Expenses consist of accounting and filing fees.

Liquidity and capital resources

The Company had no active business operations for the six months ended June 30, 2023. Accordingly, all of the Company’s cash flow needs were provided by a related party of Global Funds, the majority stockholder to pay expenses necessary as a public company.

Going forward, the Company will continue to source adequate funding from future investors to execute business opportunities when they arise in the future.  However, such funding and business opportunities will rely entirely on the prevailing circumstances when the funding or profitable business opportunities are identified.  If such opportunities are not identified in the near term, the Company will experience delay in effecting its business plans.

The financial statements have been prepared assuming that the Company will continue as going concern.  The Company is currently a public reorganized shell corporation and has no current business activity.  The Company’s ability to continue as a going concern is dependent on continued support from a related party of Global Funds, a majority stockholder.  This gives rise to substantial doubt about the Company’s ability to continue as a going concern.

Risk factors

The Company’s critical accounting policies are still being applied despite the fact that Company has no ongoing business operations.

Significant Estimates

We prepare our financial statements in conformity with generally accepted accounting principles in the United States of America.  As such, we are required to make estimates, judgments and assumptions that we believe are reasonable based upon historical experience, current trends and other factors. These estimates, judgments and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the periods presented.  Actual results could be different than those estimates.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Market Risks

There has been no material change in market risks since our last Annual Report on Form 10-K for the year ended December 31, 2022.

10

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a smaller company, we are not required to provide the information required by this Item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our chief executive officer and chief financial officer, evaluated the effectiveness of our disclosure controls and procedures pursuant to Rule 13a-15 under the Securities Exchange Act of 1934, as amended (Exchange Act), as of the end of the period covered by this Quarterly Report on Form 10-Q.

Based on this evaluation, our chief executive officer and chief financial officer concluded that, as of the fiscal period end, our disclosure controls and procedures are designed at a reasonable assurance level and are effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Limitations on Effectiveness of Controls and Procedures

In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs.

11

PART II OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. RESERVED

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

31	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350

12

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned; thereunto duly authorized this 10^th day of August, 2023.

	GREEN PLANET BIOENGINEERING CO., LTD.
Date: August 10, 2023	By:	/s/ Jordan Weingarten
		Jordan Weingarten President (Principal Executive Officer and Principal Financial and Accounting Officer) and Director

13

EX-31

EXHIBIT 31

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

I, Jordan Weingarten, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of Green Planet Bioengineering Co., Ltd.;
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.	I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures and evaluated the effectiveness of our internal control over financial reporting, and presented in this report my conclusions about the effectiveness of our internal control over financial reporting, as of the end of the period covered by this report based on such evaluation;

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

5. I have disclosed, based on my most recent evaluation, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

 

a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information and have identified for the registrant’s auditors any material weaknesses in internal controls; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Dated: August 10, 2023	By:	/s/Jordan Weingarten
		Jordan Weingarten President and Chief Financial Officer (Principal Executive Officer and Principal Financial Officer)

EX-32

EXHIBIT 32

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Green Planet Bioengineering Co. Limited (the “Company”) on Form 10-Q for the period ended June 30, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Mr. Jordan Weingarten, President and CFO of the Company, certify, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:

(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: August 10, 2023	By:	/s/Jordan Weingarten
		Jordan Weingarten President and Chief Financial Officer (Principal Executive Officer and Principal Financial Officer)

XML

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 10, 2023
Cover [Abstract]
Entity Registrant Name	GREEN PLANET BIOENGINEERING CO., LTD.
Entity Central Index Key	0001392449
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		20,006,402
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	37-1532842
Entity Address Address Line 1	20807 Biscayne Blvd.
Entity Address Address Line 2	Suite 203
Entity Address City Or Town	Aventura
Entity Address State Or Province	FL
Entity Address Postal Zip Code	33180
City Area Code	786
Local Phone Number	279-2900
Entity File Number	000-52622

XML

Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash	$ 0	$ 0
TOTAL CURRENT ASSETS	0	0
Current liabilities
Accounts payable and accrued liabilities	4,000	0
Amount due to a related party	404,288	381,920
TOTAL CURRENT LIABILITIES	408,288	381,920
STOCKHOLDERS' DEFICIT
Preferred stock : par value of $0.001 per share, Authorized: 10,000,000 shares at June 30, 2023 and December 31, 2022 Issued and outstanding : 0 shares at June 30, 2023 and December 31, 2022	0	0
Common stock : par value $0.001 per share Authorized : 250,000,000 shares at June 30, 2023 and December 31, 2022 Issued and outstanding : 20,006,402 shares at June 30, 2023 and December 31, 2022	20,006	20,006
Additional paid-in capital	609,614	609,614
Accumulated deficit	(1,037,908)	(1,011,540)
TOTAL STOCKHOLDERS' DEFICIT	(408,288)	(381,920)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 0

XML

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Balance Sheets
Preferred Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Authorized	10,000,000	10,000,000
Preferred Stock, Issued	0	0
Preferred Stock, Outstanding	0	0
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Authorized	250,000,000	250,000,000
Common Stock, Issued	20,006,402	20,006,402
Common Stock, Outstanding	20,006,402	20,006,402

XML

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statements of Operations (Unaudited)
Administrative expenses	$ (8,528)	$ (5,449)	$ (26,368)	$ (19,107)
Loss before income taxes	(8,528)	(5,449)	(26,368)	(19,107)
Provision for income taxes	0	0
Net Loss	$ (8,528)	$ (5,449)	$ (26,368)	$ (19,107)
Weighted average number of shares outstanding
-Basic and diluteds	20,006,402	20,006,402	20,006,402	20,006,402

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Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net loss	$ (26,368)	$ (19,107)
Changes in operating assets and liabilities :
Accounts payable and accrued liabilities	4,000	0
Net cash flows used by operating activities	(22,368)	(19,107)
Cash flows from investing activities	0	0
Cash flows from financing activities
Amount due to a related company	22,368	(19,107)
Net cash flows provided by financing activities	22,368	(19,107)
Net change in cash	0	0
Cash - beginning of period	$ 0	$ 0

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Statements of Changes in Stockholders Deficit (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Dec. 31, 2021			20,006,402
Balance, amount at Dec. 31, 2021	$ (349,387)	$ 0	$ 20,006	$ 609,614	$ (979,007)
Net loss	(19,107)	0	$ 0	0	(19,107)
Balance, shares at Jun. 30, 2022			20,006,402
Balance, amount at Jun. 30, 2022	(368,494)		$ 20,006	609,614	(998,114)
Balance, shares at Mar. 31, 2022			20,006,402
Balance, amount at Mar. 31, 2022	(363,045)	0	$ 20,006	609,614	(992,665)
Net loss	(5,449)	0	$ 0	0	(5,449)
Balance, shares at Jun. 30, 2022			20,006,402
Balance, amount at Jun. 30, 2022	(368,494)		$ 20,006	609,614	(998,114)
Balance, shares at Dec. 31, 2022			20,006,402
Balance, amount at Dec. 31, 2022	(381,920)	0	$ 20,006	609,614	(1,011,540)
Net loss	(26,368)	0	$ 0	0	(26,368)
Balance, shares at Jun. 30, 2023			20,006,402
Balance, amount at Jun. 30, 2023	(408,288)		$ 20,006	609,614	(1,037,908)
Balance, shares at Mar. 31, 2023			20,006,402
Balance, amount at Mar. 31, 2023	(399,760)	0	$ 20,006	609,614	(1,029,380)
Net loss	(8,528)	$ 0	$ 0	0	(8,528)
Balance, shares at Jun. 30, 2023			20,006,402
Balance, amount at Jun. 30, 2023	$ (408,288)		$ 20,006	$ 609,614	$ (1,037,908)

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General Information

6 Months Ended

Jun. 30, 2023

General Information

General Information

1. General Information

Mondo Acquisition II, Inc. was incorporated in the State of Delaware on October 30, 2006 and changed the name to Green Planet Bioengineering Co., Ltd. (“Company”) on October 2, 2008. In October 2008, the Company acquired Elevated Throne Overseas Ltd, incorporated in British Virgin Islands, and its subsidiaries which was subsequently divested to One Bio, Corp (“ONE”) on April 14, 2010. 

In March 2012, the Company became a subsidiary of Global Fund Holdings Corp. (“Global Funds”) an Ontario, Canada Corporation.

The Company operates as a public reorganized shell corporation with the purpose to acquire or merge with an existing business operation.  The Company’s activities are subject to significant risks and uncertainties, as their ability to implement and execute future business plans and generate sufficient business revenue is directly influenced by their ability to secure adequate financing or find profitable business opportunities.

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Summary of Significant Accounting Policies

Summary Of Significant Accounting Policies

2. Summary of significant accounting policies

Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-K. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal and recurring adjustments have been made. Operating results for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the years reported.  Actual results could differ from those estimates.  Significant items that require estimates were accruals of liabilities.

Cash and cash equivalents

Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less to be cash equivalents. Balances of cash and cash equivalents in financial institutions may at times exceed the government-insured limits.

Loss per share

Earnings per share is reported in accordance with FASB ASC Topic 260 “Earnings per Share” which requires dual presentation of basic earnings per share (“EPS”) and diluted EPS on the face of all statements of earnings, for all entities with complex capital structures.  Diluted EPS reflects the potential dilution that could occur from common shares issuable through the exercise or conversion of stock options, restricted stock awards, warrants and convertible securities. In certain circumstances, the conversion of these options, warrants and convertible securities are excluded from diluted EPS if the effect of such inclusion would be anti-dilutive.  Fully diluted EPS is not provided, when the effect is anti-dilutive. When the effect of dilution on loss per share is anti-dilutive, diluted loss per share equals the loss per share.  As of June 30, 2023 and 2022, the Company does not have any common share equivalents outstanding.

Fair Value Measurements

FASB ASC Topic 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP, and expands disclosures about fair value measurements. Investment measured and reported at fair value are classified and disclosed in one of the following hierarchy:

Level 1 -	Quoted prices are available in active markets for identical investments as of the period reporting date.
Level 2 -	Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies.
Level 3 -	Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation.

Recent Changes in Accounting Standards

Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed financial statements.

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Going Concern

6 Months Ended

Jun. 30, 2023

Going Concern

Going Concern

3. Going Concern

The unaudited condensed financial statements have been prepared assuming that the Company will continue as a going concern. As at June 30, 2023, the Company has a working capital deficit of $408,288, and accumulated deficit of $1,037,908 and a net loss of $26,368, for the six months ended June 30, 2023.  The Company is currently a public reorganized shell corporation and has no current business activity. The Company’s ability to continue as a going concern is dependent on continued support from a related party of the majority stockholder. This gives rise to substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance date of this filing.

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Amount Due to a Related Company

6 Months Ended

Jun. 30, 2023

Amount Due to a Related Company

Amount Due to a Related Company

4. Amount Due to a Related Company

The Company relies on a related party of the majority stockholder to advance funds to finance its operating expenses. The Company’s Chief Executive Officer, Chief Financial Officer and Director of the Company is also a director of the related party. The amounts advanced of $404,288 are interest-free, unsecured and are repayable upon demand.

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Stockholders Deficit

6 Months Ended

Jun. 30, 2023

Stockholders Deficit

Stockholders' Deficit

5. Stockholders’ Deficit

Series A Preferred stock

The Company is authorized under its Articles of Incorporation to issue 10,000,000 shares of Series A preferred stock with a par value of $0.001 per share. Each share of the Company’s preferred stock provides the holder with the right to vote 1,000 votes on all matters submitted to a vote of the stockholders of the Company and is convertible into 1,000 shares of the Company’s common stock. The preferred stock is non-participating and carries no dividend. The Company does not have any issued shares of the preferred stock as of June 30, 2023 and December 31, 2022.

Common stock

The Company is authorized to issue 250,000,000 shares of common stock with a par value of $0.001 per share. During the six months ended June 30, 2023, the Company did not issue any shares of common stock or warrants. 

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies

Commitments and Contingencies

6. Commitments and Contingencies

The Company does not have any commitments and contingencies during the six months ended June 30, 2023.

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Subsequent Events

6 Months Ended

Jun. 30, 2023

Subsequent Events

Subsequent Events

7. Subsequent Events

The related party advanced the Company $4,000 from July 1, 2023 through the date of filing.

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2023

Summary of Significant Accounting Policies

Basis Of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q of Regulation S-K. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal and recurring adjustments have been made. Operating results for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.

Use Of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the years reported.  Actual results could differ from those estimates.  Significant items that require estimates were accruals of liabilities.

Cash And Cash Equivalents

Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less to be cash equivalents. Balances of cash and cash equivalents in financial institutions may at times exceed the government-insured limits.

Loss Per Share

Earnings per share is reported in accordance with FASB ASC Topic 260 “Earnings per Share” which requires dual presentation of basic earnings per share (“EPS”) and diluted EPS on the face of all statements of earnings, for all entities with complex capital structures.  Diluted EPS reflects the potential dilution that could occur from common shares issuable through the exercise or conversion of stock options, restricted stock awards, warrants and convertible securities. In certain circumstances, the conversion of these options, warrants and convertible securities are excluded from diluted EPS if the effect of such inclusion would be anti-dilutive.  Fully diluted EPS is not provided, when the effect is anti-dilutive. When the effect of dilution on loss per share is anti-dilutive, diluted loss per share equals the loss per share.  As of June 30, 2023 and 2022, the Company does not have any common share equivalents outstanding.

Fair Value Measurements

FASB ASC Topic 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP, and expands disclosures about fair value measurements. Investment measured and reported at fair value are classified and disclosed in one of the following hierarchy:

Level 1 -	Quoted prices are available in active markets for identical investments as of the period reporting date.
Level 2 -	Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies.
Level 3 -	Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation.

Recent Changes In Accounting Standards

Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed financial statements.

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Going Concern (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Going Concern
Accumulated deficit	$ (1,037,908)		$ (1,037,908)		$ (1,011,540)
Working capital deficit	(408,288)		(408,288)
Net loss	$ (8,528)	$ (5,449)	$ (26,368)	$ (19,107)

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Amount Due to a Related Party (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Amount Due to a Related Party (Details Narrative)
Amount Due To A Related Party	$ 404,288	$ 381,920

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Stockholders Deficit (Details Narrative)	6 Months Ended
	Jun. 30, 2023 integer $ / shares shares	Dec. 31, 2022 $ / shares shares
Common Stock, Par Value | $ / shares	$ 0.001	$ 0.001
Number of votes | integer	1,000
Convertible shares of common stock	1,000
Preferred Stock, Par Value | $ / shares	$ 0.001	$ 0.001
Preferred Stock, Issued	0	0
Common Stock, Authorized	250,000,000	250,000,000
Series A Preferred Stock [Member]
Preferred Stock, Par Value | $ / shares	$ 0.001
Preferred Stock, Issued	10,000,000

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Subsequent Events (Details Narrative)	Jul. 01, 2023 USD ($)
Subsequent Event [Member]
Amount Due To A Related Party	$ 4,000