10-K

UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC  20549

FORM 10-K

(mark one)

[X]            ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2013

[    ]            TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

               For the transition period from _______ to _______

Commission File No. 000-54395

GREEN ENVIROTECH HOLDINGS CORP.

 (Exact Name of registrant as specified in its charter)

Delaware	32-0218005
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S.  Employer Identification No.)
210 S. Sierra Ave. Suite A Oakdale, CA	95361
(Address of Principal Executive Offices)	(Zip Code)

(209) 848-4384

(Issuer’s Telephone Number, Including Area Code)

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of Each Class to be so registered:	Name of each exchange on which registered:
None	None

Securities registered under Section 12(g) of the Act: Common Stock, par value $0.001

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐      No ☑

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐     No ☑

Indicate by check mark whether the registrant:  (1) has filed all reports required to be filed by Section 13 or 15(d) of the 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 Website, 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).  Yes ☑      No ☐

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in the definitive proxy or information statement incorporated by reference in Part III of this Form 10-K or amendment to Form 10-K. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See 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 ☑

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

The aggregate market value of the registrant’s voting stock held by non-affiliates of the registrant was approximately $4,113,571 as of June 30, 2013. Shares of voting stock held by each executive officer and director of the registrant and each person who beneficially owns 10% or more of the registrant’s outstanding voting stock has been excluded from the calculation. This determination of affiliated status may not be conclusive for other purposes.

(ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Check whether the issuer has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: The Registrant’s common stock as of March 31, 2014, was 8,093,017 shares.

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TABLE OF CONTENTS

		Page
	PART I
Item 1.	Business	4
Item 1A.	Risk Factors	12
Item 1B.	Unresolved Staff Comments	17
Item 2.	Properties	17
Item 3.	Legal Proceedings	17
Item 4.	Mine Safety Disclosures	17
	PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	17
Item 6.	Selected Financial Data	18
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	24
Item 8.	Financial Statements and Supplementary Data	24
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	24
Item 9A(T).	Controls and Procedures	24
Item 9B.	Other Information	25
	PART III
Item 10.	Directors, Executive Officers and Corporate Governance	26
Item 11.	Executive Compensation	27
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	28
Item 13.	Certain Relationships and Related Transactions, and Director Independence	29
Item 14.	Principal Accounting Fees and Services	29
Item 15.	Exhibits, Financial Statement Schedules	30
SIGNATURES		31

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PART I

ITEM 1. BUSINESS

Corporate History

              Green EnviroTech Holdings Corp. (the “Company”), formerly known as Wolfe Creek Mining, Inc., was incorporated in the State of Delaware on June 26, 2007. On November 20, 2009, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Green EnviroTech Acquisition Corp., a Nevada corporation, and Green EnviroTech Corp. (“Green EnviroTech”), a plastics recovery, separation, cleaning, and recycling company. Green EnviroTech is a Nevada corporation formed on October 6, 2008 under the name EnviroPlastics Corporation. On October 21, 2009, Enviroplastics Corporation changed its name to Green EnviroTech Corp. and on July 20, 2010, the Company changed its name to Green EnviroTech Holdings Corp.

Pursuant to the Merger Agreement, on November 20, 2009, Green EnviroTech Acquisition Corp. merged with and into Green EnviroTech, resulting in Green EnviroTech becoming a wholly-owned subsidiary of the Company (the “Merger”). The acquisition of Green EnviroTech is treated as a reverse acquisition, and the business of Green EnviroTech became the business of the Company.

Recent Developments

Effective March 27, 2013, the Company completed a 1 for 100 reverse split of its common stock.  Share amounts in this report have been retroactively adjusted for the reverse split.

During 2013, the Company entered into an agreement with Black Lion Oil Limited (Black Lion) whose primary focus is on emerging energy technology with broad applications.  Under the agreement, the Company granted to Black Lion exclusive rights to the waste to oil process in specific territories outside of the United States.  In return Black Lion paid $100,000 in cash to the Company as a fee and agreed to pay the Company royalties amounting to ten percent (10.0%) of the gross sales of the plants outside of the United States using the waste to oil process.  The Company used the fee for working capital.  

References hereinafter to “Green EnviroTech”, “we”, “us”, “our” and similar words refer to the Company.

Our Principal Offices

Our executive offices are located at 210 S. Sierra Ave. Suite A, Oakdale, CA 95361 and our phone number at this address is (209) 848-4384.

Overview of Our Business

Green EnviroTech Holdings Corp. is a development-stage technology company that has developed a patent pending oil conversion process utilizing a mixture of plastic and tires. We believe the "GETH Process" has the potential to revolutionize the disposal of plastic waste and tires and cleans up our landfills by producing a high grade of oil.

HIGHLIGHTS:

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§

A 12 module plant will produce approximately 25,000 barrels of GETH Oil per month

§

GETH produces oil that does not need to be reprocessed and can be blended into most products produced at a refinery    

§

Contract to purchase GETH Oil through a third party with a contract with a major oil company at Brent Crude prices minus $5.25 per barrel for marketing and transportation differentials.  1% of gross will go to the third party.  

§

Tire & plastic feedstock providers have been identified for the first 10 selected regional plant sites; to be secured with refined multi plant sites. Initial California sources and plant site are secured.

§

GETH Process is a closed system with no environmental impact

§

Highly experienced management team in engineering, permitting, manufacturing and feedstock supply

The Company in 2014 is concentrating on raising $3,000,000 to build a demonstration plant, which consist of one reactor and one distillation system.  The initial start up cost includes the cost of the infrastructure, which will facilitate the expansion of the plant at a future time.

The Company has determined its capital needs will be $16 Million to execute phase-one of its business model.  Negotiations with a New York Lending Institution for a $12 Million loan with a lien against the plant and equipment have been received with enthusiasm and with positive feedback.  In addition, the Company has received partial commitments on receiving $4 Million in equity funding from qualified investors looking for warrants in exchange for equity injections.  Permits needed to operate and construct the plant have been applied for and the Company does not anticipate any complications with its applications.  The plants operating systems are considered a closed system with zero emissions.  The estimated time to close funding is 60 days with an estimated seven months to complete construction and outfit the plant.

TECHNOLOGY OVERVIEW OF THE "GETH PROCESS" 

The system to convert plastic and tires to oil uses electromagnetic pyrolysis to produce oil by using the GETH Process.  This oil is referred to as GETH Oil, carbon black, syngas, and steel. The use of electromagnetic pyrolysis facilitates more effective heat transfer while causing no environmental impact. A standard twelve module plant, utilizing 6 for plastic and 6 for tire conversion produces approximately 25,000 barrels of oil per month.  Plastic or tire processing ratios can be adjusted to correspond to the current supply volumes.

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One Module - Plastic to GETH Oil Conversion:

·

The maximum processing of a single module is 940,000 pounds of plastic per month - estimated to produce 2,710 barrels of GETH Oil per month, among other outputs.

Outputs and Ratios:

o

85% average by weight converted into GETH Oil

o

10% average by weight of syngas

o

5% average by weight of carbon black

One Module -Tire to GETH Oil Conversion:

·

The maximum processing of a single module is 940,000 pounds of tires per month - estimated to produce 1,435 barrels of GETH Oil per month, among other outputs.

Outputs and Ratios:

o

40-45% by weight converted into GETH Oil

o

30-33% converted into carbon black

o

10-11% recovered steel wire

o

11-20% syngas  

Process Description for a Twin Reactor Pyrolysis Conversion Module:

Process charge material is compressed into bales to increase charge weight and provide a convenient material handling package. Variations of this process, criteria, will be investigated within the demonstration phase of the initial plant operation.

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The conversion process is composed of a combination of three steps that have been placed in line so that they present an integrated process stream. Modules are operated in a continuous batching scheme.

The first step is an electromagnetic pyrolysis induction system that converts tire and/or plastic feedstock into crude oil. A process module contains two rotating electrically heated reaction chambers.  Each reactor is operated independently and controlled by a computerized process controller that monitors three zones on the reactors as well as the other processes within the full operating module. As the feedstock material temperature rises certain fractions turn into a gaseous phase (at about 700 degree F) which gases pass through a condensation/separation chamber. The resultant light oil condensate is a final product.  

Variations of the pyrolysis energy source criteria will be investigated within the demonstration phase of the initial plant operation.

In a second step heavy un-vaporized oil is collected in a heavy oil reservoir and further refined by distillation into finished oil.  

The last step in the process is an organic chloride filtration system. Process oil is transferred directly to this system, re-heated to 500° F, and passed through a catalyst media to remove residual organic chloride. Finished oil is moved into a product storage vessel for testing.

The entire module is a closed loop that sorts vapors and gases throughout the entire process. At no time are there any gases or vapors emitted into the atmosphere. The reactor chamber is closed and sealed throughout the entire process cycle and is only opened once all of the vapors and gases have been evacuated from the reactor chamber. There is a main check valve in place between the reactor and the separator that prevents any gases or vapors from flowing back into the reactor chamber.

Other non-oil Products:

Carbon black is produced as a by-product in volumes related to the feed stock material as noted earlier. Carbon black collects in the separator vessel and is released through a valve gate at the bottom at the termination of each batch process. The carbon black enters a contained storage vessel, which is sealed so that the carbon black is fully captured without becoming airborne.

The steel from tires is removed from the reactorin preparation for the next batch.

The last by-product is syngas which is evacuated from the module continuously and processed through a filtration system to clean out any residual carbon; the gas is then compressed into syngas storage vessels.

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HANDLING AND SHIPPING:

All the by-products are separated into their own specific storage vessels until they’re shipped. All products will be shipped by certified transporters. The certified oil and syngas transporters have all the necessary permits, pumps and valves systems to eliminate any vapors or emissions from being released into the atmosphere during the tanker loading process.

MATERIAL SOURCING / VALUES

The relevant issue as it applies to the GETH production economics are:

·

Cost and availability of raw materials (feedstock)

·

Price the GETH Oil is sold to the refinery

PLASTICS

The EPA states that in the US 31 million tons of plastic waste is generated annually. With plastic recyclers volumes already committed there is an abundant flow of plastics available for the GETH facilities. The cost of waste plastic for processing is set at $75 per ton including transport and is detailed in the financial projections.  

This chart reflects 10% of the volume of plastic waste (1-7 categories) in millions of lbs. generated in one year in the respected locations according to the EPA. The Company believes 10% percent is readily available to the company and has been secured as feedstock. The Company will only process 3-7 types of plastic as feedstock.

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TIRES

The EPA data states that there is one scrap tire generated for every person in the US, meaning there are 311 million waste tires generated annually. Due to the weight and size configuration and slow breakdown, tires are the most problematic source of waste in the US. The financial equation for tires is more compelling because in most locations the company will be paid to receive the tires.

The Company is currently in negotiations with the largest multi-state tire retailer to be its exclusive tire recycler.  

 

The back graphs represent the total number of waste tires generated annually in selected states and the graphs in the forefront reflect the number of tires that been identified as readily available or secured to the company for conversion.

OIL PRICING

According to the US Energy Information Administration report “International Energy Outlook 2013” http://www.eia.gov/forecasts/aeo/index.cfm the world’s energy consumption will grow by 56% between 2012 and 2040. Much of the growth will occur outside the Organisation for Economic Co-operation & Development (OECD), known as the non- OECD, where the demand will be driven by long-term economic growth. Renewable energy and nuclear power are the world’s fastest-growing energy resources. The fossil fuel products will continue to supply up to 80% of the world energy through 2040. The pricing set forth in the chart below reflects the current Brent Crude price for oil as established by GETH's contract with Conoco to purchase the oil.

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Demand:  According to the OPEC oil demand analysis for 2012, the world used 84 million barrels of oil per day.  The world’s liquid consumption will increase by about one-third from 87 million barrels per day in 2010 to 115 million barrels per day in 2040. Petroleum and other liquids will remain the world’s dominant fuel source. Rising prices for liquids increase the cost-competitiveness of other fuels, leading many users of liquids outside the transportation and industrial sectors to switch to other sources of energy when possible. The transportation and industrial sectors account for 92 percent of global liquid fuels demand in 2040, whereas in every other end-use sector the consumption of liquid fuels decreases on a worldwide basis over the projection period.

According to the “International Energy Outlook 2013” the analyses below represent a long-term balance between supply and demand.  It does not reflect the crude oil price volatility that occurs over days, months, or years. Over the past two decades, volatility within a single year has averaged about 30 percent. In the Reference case, world oil prices reach $106 per barrel (real 2011 dollars) in 2020 and $163 per barrel in 2040. The Reference case represents current judgment regarding exploration and development costs and accessibility of oil resources. It also assumes that OPEC producers maintain their share of the market and will schedule investments in incremental production capacity so that OPEC’s oil production will represent between 39 and 43 percent of the world’s total petroleum and other liquids production over the projection period. In this case, OECD consumption of petroleum and other liquids is virtually flat between 2010 and 2040, while non-OECD consumption increases by 28 million barrels per day over the same period. The High and Low Oil Price cases as alternatives to the Reference case. The price cases were developed by adjusting four key factors: (1) the economics of non-OPEC petroleum liquids supply; (2) OPEC investment and production decisions; (3) the economics of other liquids supply; and (4) economic growth in non-OECD countries, key driver of petroleum and other liquids demand.

To view the Energy Outlook Report 2013, cut and paste the link below: https://files.secureserver.net/0fyNgsK2QegLTe

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Employees

As of the date of the filing of this annual report on Form 10-K, we have five employees who are full-time and two are also our executive officers.   We consider our employee relations to be good.

Bankruptcy or Similar Proceedings

There has been no bankruptcy, receivership or similar proceeding.

Compliance with Government Regulation

We will be required to comply with various environmental laws and regulations enacted in the jurisdictions in which we operate which govern the manufacture, importation, handling and disposal of certain materials used in our operations. We are in the process of establishing procedures to address compliance with current environmental laws and regulations and we monitor our practices concerning the handling of environmentally hazardous materials.

Patents, Trademarks, Franchises, Concessions, Royalty Agreements, or Labor Contracts

The Company has a patent pending as previously mentioned and a number of, applied-for and/or unregistered trademarks and service marks that we use in connection with our businesses.  We have no other current plans for any other registrations such as copyrights, franchises, concessions, royalty agreements or labor contracts.

Need for Government Approval for its Products or Services

We are not required to apply for or have any government approval for our products or services.  We have to obtain local permits for the location of our facilities; we see no problems obtaining these permits.

Research and Development Costs during the Last Two Years

We have not expended funds for research and development costs since inception.

ITEM 1A. RISK FACTORS

Risks Related to our Business

We are currently not profitable and may never become profitable.

We have a history of losses totaling $16,213,181 through December 31, 2013 and we expect to incur additional substantial operating losses for the foreseeable future and we may never achieve or maintain profitability.  We also expect to experience negative cash flow for the foreseeable future as we fund our operating losses and capital expenditures. As a result, we will need to generate significant revenues in order to achieve and maintain profitability.  We may not be able to generate these revenues or achieve profitability in the future. Our failure to achieve or maintain profitability could negatively impact the value of our Common Stock and investors would in all likelihood lose their entire investment.

Our independent registered accounting firm has expressed doubt about our ability to continue as a going concern.

Because we have not generated revenue since our inception, our independent registered accounting firm has included in their report for the years ended December 31, 2013 and 2012, an uncertainty with respect to the Company’s ability to continue as a going concern.

Our business is difficult to evaluate because we have no operating history and an uncertain future.

We have no operating history upon which to evaluate our present business and future prospects.  We face risks and uncertainties relating to our ability to implement our business plan successfully.  Our operations are subject to all of the risks inherent in the establishment of a new business enterprise generally.  The likelihood of our success must be considered in light of the problems, expenses, difficulties, complications and delays frequently encountered in connection with the formation of a new business, the commencement of operations and the competitive environment in which we operate.  If we are unsuccessful in addressing these risks and uncertainties, our business, results of operations, financial condition and prospects will be materially harmed.

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We will need significant additional capital, which we may be unable to obtain.

As of December 31, 2013, we had $185 in cash available. We also expect to experience negative cash flow for the foreseeable future as we fund our operating losses and capital expenditures.  Accordingly we need significant additional capital to fund our operations. There can be no assurance that financing will be available in amounts or on terms acceptable to us, if at all.  If we are unable to raise substantial capital, investors will lose their entire investment.

If our strategy is unsuccessful, we will not be profitable and our stockholders could lose their investment.

We do not believe there are track records for companies pursuing our strategy, and there is no guarantee that our strategy will be successful or profitable. If our strategy is unsuccessful, we will fail to meet our objectives and not realize the revenues or profits from the business we pursue, which would cause the value of the Company to decrease, thereby potentially causing in all likelihood, our stockholders to lose their investment.

Our business will be dependent on a few large suppliers for feedstock and is vulnerable to changes in availability or supply of such feedstock.

We intend to derive our feedstock from suppliers who are operating large automotive shredders. Any substantial alteration or termination of our contracts or agreements with those particular suppliers may have a material adverse effect on our revenue as we may be unable to run our operation at capacity without a sufficient source of feedstock.

We will rely on several large customers for our product and are vulnerable to dramatic shifts in their industry.

We intend to focus on selling our product to the automotive industry initially, for use in production of new automobiles.  Most of our customers and end users are subject to budgetary and political constraints which may delay or limit purchases of our products, and we will have no control over those decisions.

We may be unable to successfully execute any of our identified business opportunities or other business opportunities that we determine to pursue.

We currently have a limited corporate infrastructure. In order to pursue business opportunities, we will need to continue to build our infrastructure and operational capabilities. Our ability to do any of these successfully could be affected by any one or more of the following factors:

1.	Our ability to raise substantial additional capital to fund the implementation of our business plan
2.	Our ability to execute our business strategy
3.	The ability of our products and services to achieve market acceptance
4.	Our ability to manage the expansion of our operations and any acquisitions we may make, which could result in increased costs, high employee turnover or damage to customer relationships
5.	Our ability to attract and retain qualified personnel
6.	Our ability to manage our third party relationships effectively
7.	Our ability to accurately predict and respond to the rapid technological changes in our industry and the evolving demands of the markets we serve

Our failure to adequately address any one or more of the above factors could have a significant impact on our ability to implement our business plan and our ability to pursue other opportunities that arise.

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If we are unable to manage our intended growth, our prospects for future profitability will be adversely affected.

We intend to aggressively expand our marketing and sales program.  Rapid expansion may strain our managerial, financial and other resources.  If we are unable to manage our growth, our business, operating results and financial condition could be adversely affected.  Our systems, procedures, controls and management resources also may not be adequate to support our future operations.  We will need to continually improve our operational, financial and other internal systems to manage our growth effectively, and any failure to do so may lead to inefficiencies and redundancies, and result in reduced growth prospects and profitability.

Our insurance policies may be inadequate in a catastrophic situation and potentially expose us to unrecoverable risks.

We will have limited commercial insurance policies.  Any significant claims against us would have a material adverse effect on our business, financial condition and results of operations.  Insurance availability, coverage terms and pricing continue to vary with market conditions.  We endeavor to obtain appropriate insurance coverage for insurable risks that we identify, however, we may fail to correctly anticipate or quantify insurable risks. We may not be able to obtain appropriate insurance coverage, and insurers may not respond as we intend to cover insurable events that may occur.  We have observed rapidly changing conditions in the insurance markets relating to nearly all areas of traditional corporate insurance.  Such conditions have resulted in higher premium costs, higher policy deductibles and lower coverage limits.  For some risks, we may not have or maintain insurance coverage because of cost or availability.

We may become liable for damages for violations of environmental laws and regulations.

We are subject to various environmental laws and regulations enacted in the jurisdictions in which we operate which govern the manufacture, importation, handling and disposal of certain materials used in our operations. We are in the process of establishing procedures to address compliance with current environmental laws and regulations and we monitor our practices concerning the handling of environmentally hazardous materials. However, there can be no assurance that our procedures will prevent environmental damage occurring from spills of materials handled by the Company or that such damage has not already occurred. On occasion, substantial liabilities to third parties may be incurred. We may have the benefit of insurance maintained by the Company. However, the Company may become liable for damages against which it cannot adequately insure or against which it may elect not to insure because of high costs or other reasons.

  We face intense competition and may not be able to successfully compete.

The Company currently does not have direct competitors in the capacity range we target. However, there can be no assurance that: (i) the Company will not have direct competition in the future, (ii) that such competitors will not substantially increase the resources devoted to the development and marketing of their products and services that compete with those of the Company, or (iii) that new or existing competitors will not enter the market in which the Company is active.

We rely on key personnel and, if we are unable to retain or motivate key personnel or hire qualified personnel, we may not be able to grow effectively.

Our success depends in large part upon the abilities and continued service of our executive officers and other key employees, particularly Mr. Gary DeLaurentiis, our Chief Executive Officer.  There can be no assurance that we will be able to retain the services of such officers and employees.  Our failure to retain the services of our key personnel could have a material adverse effect on the Company.   In order to support our projected growth, we will be required to effectively recruit, hire, train and retain additional qualified management personnel.  Our inability to attract and retain the necessary personnel could have a material adverse effect on the Company.  We have no “key man” insurance on any of our key employees.

Risks Related to the Common Stock

There is a limited trading market for the Common Stock.

Our Common Stock is currently being traded on the OTCQB. However, to date there has been a limited trading market for the Common Stock, and we cannot give assurance that a more active trading market will develop. The lack of an active, or any, trading market will impair a stockholder’s ability to sell his shares at the time he wishes to sell them or at a price that he considers reasonable.  An inactive market will also impair our ability to raise capital by selling shares of capital stock and will impair our ability to acquire other companies or assets by using common stock as consideration.

Stockholders may have difficulty trading and obtaining quotations for our Common Stock.

There has been limited trading market for our Common Stock, which does not actively trade, and the bid and asked prices for our Common Stock on the OTCQB may fluctuate widely in the future. As a result, investors may find it difficult to dispose of, or to obtain accurate quotations of the price of, our securities. This severely limits the liquidity of our Common Stock, and would likely reduce the market price of our Common Stock and hamper our ability to raise additional capital.

The market price of our Common Stock is likely to be highly volatile and subject to wide fluctuations.

Dramatic fluctuations in the price of our Common Stock may make it difficult to sell our Common Stock. The market price of our Common Stock is likely to be highly volatile and could be subject to wide fluctuations in response to a number of factors that are beyond our control, including:

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• dilution caused by our issuance of additional shares of Common Stock and other forms of equity securities in connection with (i) future capital financings to fund our operations and growth, and (ii) attracting and retaining valuable personnel and in connection with future strategic partnerships with other companies;

• variations in our quarterly operating results;

• announcements that our revenue or income are below or that costs or losses are greater than analysts’ expectations;

• the general economic slowdown;

• sales of large blocks of our Common Stock;

• announcements by us or our competitors of significant contracts, acquisitions, strategic partnerships, joint ventures or capital commitments; and

• Fluctuations stock market prices and volumes.

These and other factors are largely beyond our control, and the impact of these risks, singly or in the aggregate, may result in material adverse changes to the market price of our Common Stock and/or our results of operations and financial condition.

Our founders received their shares of our Common Stock at a price of $.01 per share.

Our founders received their shares of our Common Stock at a price of $.01 per share. The low purchase price for such shares may make it more likely that the shares will be sold at lower trading prices. The sale of such shares into the market could have a depressive effect on the trading price of our Common Stock, if then traded.

The Common Stock is subject to the “penny stock” rules of the SEC, which may make it more difficult for stockholders to sell the Common Stock.

The United States Securities and Exchange Commission (the “Commission”) has adopted Rule 15g-9 which establishes the definition of a "penny stock" for the purposes relevant to us, as any equity security that has a market price of less than $5.00 per share or with an exercise price of less than $5.00 per share, subject to certain exceptions. For any transaction involving a penny stock, unless exempt, the rules require:

1.	That a broker or dealer approve a person's account for transactions in penny stocks; and
2.	The broker or dealer receives from the investor a written agreement to the transaction, setting forth the identity and quantity of the penny stock to be purchased.

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In order to approve a person's account for transactions in penny stocks, the broker or dealer must:

1.	Obtain financial information and investment experience objectives of the person; and
2.	Obtain financial information and investment experience objectives of the person; and
3.	Make a reasonable determination that the transactions in penny stocks are suitable for that person and the person has sufficient knowledge and experience in financial matters to be capable of evaluating the risks of transactions in penny stocks
4.	The broker or dealer must also deliver, prior to any transaction in a penny stock, a disclosure schedule prescribed by the Commission relating to the penny stock market, which, in highlight form sets forth the basis on which the broker or dealer made the suitability determination; and
5.	That the broker or dealer received a signed, written agreement from the investor prior to the transaction

Disclosure also has to be made about the risks of investing in penny stocks in both public offerings and in secondary trading and about the commissions payable to both the broker-dealer and the registered representative, current quotations for the securities and the rights and remedies available to an investor in cases of fraud in penny stock transactions. Finally, monthly statements have to be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks.

The regulations applicable to penny stocks may severely affect the market liquidity for the Common Stock and could limit an investor’s ability to sell the Common Stock in the secondary market.

As an issuer of “penny stock,” the protection provided by the federal securities laws relating to forward looking statements does not apply to the Company.

Although federal securities laws provide a safe harbor for forward-looking statements made by a public company that files reports under the federal securities laws, this safe harbor is not available to issuers of penny stocks. As a result, the Company will not have the benefit of this safe harbor protection in the event of any legal action based upon a claim that the material provided by the Company contained a material misstatement of fact or was misleading in any material respect because of the Company’s failure to include any statements necessary to make the statements not misleading. Such an action could adversely affect our financial condition.

The Company has not paid dividends in the past and does not expect to pay dividends for the foreseeable future.  Any return on investment may be limited to the value of the Common Stock.

No cash dividends have been paid on the Common Stock. We expect that any income received from operations will be devoted to our future operations and growth. The Company does not expect to pay cash dividends in the near future. Payment of dividends would depend upon our profitability at the time, cash available for those dividends, and other factors as the Company’s board of directors may consider relevant. If the Company does not pay dividends, the Common Stock may be less valuable because a return on an investor’s investment will only occur if the Company’s stock price appreciates.

ITEM 1B. UNRESOLVED STAFF COMMENTS

NOT APPLICABLE

ITEM 2. PROPERTIES

On June 1, 2013, the Company signed a three year lease agreement for office space and opened its new offices  The Company’s new offices are located at 210 S. Sierra Ave., Suite A, Oakdale, CA 95361.

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ITEM 3. LEGAL PROCEEDINGS.

The Company is party to one legal proceeding.  MicroCap vs Green EnviroTech is a claim being litigated in New York for the breach of contract.  The case is being vigorously defended and the Company expects the resolution of the case to be in its favor.

ITEM 4. MINE SAFETY DISCLOSURES

 Not Applicable

PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASERS OF EQUITY SECURITES.

Market Information

The Company’s Common Stock is quoted on the OTCQB under the symbol “GETH” For the periods indicated, the following table sets forth the high and low bid prices per share of common stock. These quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.   All per share amounts have been adjusted for the Company’s 100 for 1reverse stock split effected on March 27, 2013.

Fiscal Quarter	Fiscal 2013				Fiscal 2012
	High		Low		High		Low
First Quarter Ended March 31	$	4.50	$	0.31	$	0.042	$	0.02
Second Quarter Ended June 30	$	4.02	$	0.25	$	0.026	$	0.012
Third Quarter Ended September 30	$	1.77	$	0.40	$	0.02	$	0.007
Fourth Quarter Ended December 31	$	1.25	$	0.45	$	0.006	$	0.003

Holders

As of March 19, 2014, there were 8,093,017 shares of common stock issued and outstanding, held by approximately 136 shareholders of record.

Dividends

We have never declared or paid any cash dividends on our Common Stock. The Company currently intends to retain future earnings, if any, to finance the expansion of its business. As a result, the Company does not anticipate paying any cash dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of our board of directors and will be dependent upon the existing conditions, including our financial condition and results of operations, capital requirements, contractual restrictions, business prospects, and other factors that the board of directors considers relevant.

Securities Authorized for Issuance under Equity Compensation Plans

The Company has not adopted any equity compensation plans as of December 31, 2013.

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Recent Sales of Unregistered Securities.

None.

 Issuer Repurchases of Equity Securities

None.

ITEM 6. SELECTED FINANCIAL DATA.

Not applicable.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Forward-Looking Statements

Statements in this annual report on Form 10-K may be “forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in this annual report on Form 10-K, including the risks described under “Risk Factors,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this annual report on Form 10-K and in other documents which we file with the Commission. In addition, such statements could be affected by risks and uncertainties related to our ability to raise any financing which we may require for our operations, competition, government regulations and requirements, pricing and development difficulties, our ability to make acquisitions and successfully integrate those acquisitions with our business, as well as general industry and market conditions and growth rates, and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this annual report on Form 10-K, except as may be required under applicable securities laws.

Corporate History

Green EnviroTech Holdings Corp. (formerly known as Wolfe Creek Mining, Inc. and referred to herein as (the “Company”)), was incorporated in the State of Delaware on June 26, 2007. On November 20, 2009, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Green EnviroTech Acquisition Corp., a Nevada corporation, and Green EnviroTech Corp. (“Green EnviroTech”), a plastics recovery, separation, cleaning, and recycling company. Green EnviroTech is a Nevada corporation formed on October 6, 2008 under the name EnviroPlastics Corporation.  

Pursuant to the Merger Agreement, on November 20, 2009 (the “Closing Date”), Green EnviroTech Acquisition Corp. merged with and into Green EnviroTech, resulting in Green EnviroTech becoming a wholly-owned subsidiary of the Company (the “Merger”). The acquisition of Green EnviroTech is treated as a reverse acquisition, and the business of Green EnviroTech became the business of the Company.

References hereinafter to “Green EnviroTech”, “we”, “us”, “our” and similar words refer to the Company and its wholly-owned subsidiary, Green EnviroTech, unless the context otherwise requires.

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Critical Accounting Policy and Estimates

Our Management’s Discussion and Analysis of Financial Condition and Results of Operations section discusses our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued expenses, financing operations, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. The most significant accounting estimates inherent in the preparation of our financial statements include estimates as to the appropriate carrying value of certain assets and liabilities which are not readily apparent from other sources.

The following discussion of our financial condition and results of operations should be read in conjunction with our audited financial statements for the year ended December 31, 2012, together with notes thereto as previously filed with our Annual Report on Form 10-K.  In addition, these accounting policies are described at relevant sections in this discussion and analysis and in the notes to the financial statements included in this Form 10-K for the year ended December 31, 2012..

Results of Operations

Year Ended December 31, 2013 compared to Year Ended December 31, 2012

The Company incurred $2,407,588 in wages and professional fees for the year ended December 31, 2013 as compared to $2,538,199 for the year ended December 31, 2012, a decrease of approximately 5%. This decrease of $130,611 in wages and professional fees is the result of the Company’s decrease in engineering and design related to the equipment and building projections.  

On March 5, 2012, the Company entered into a letter agreement (the “Letter Agreement”) with Magic Bright Limited (“Magic Bright”), Wong Kwok Wing Tony (“Tony”), and Chan Sau Fong (collectively with Tony, the “Sellers”). Pursuant to the Letter Agreement, the parties agreed that as a result of the failure by the Company to pay $700,000 in Cash Consideration (as defined in the Purchase Agreement) of the aggregate $1,000,000 Cash Consideration payable by the Company under the Purchase Agreement, dated February 14, 2011, among the Company, Magic Bright, and the Sellers, as amended by Amendment No. 1 and Amendment No.2 thereto, dated March 16, 2011 and March 25, 2011, respectively (as amended, the “Purchase Agreement”), including $300,000 of Cash Consideration due on June 16, 2011, $200,000 of Cash Consideration due on September 16, 2011, and $200,000 of Cash Consideration due on December 16, 2011, the Company was unable to obtain requisite financial statements relating to Magic Bright for periods subsequent to April 1, 2011 (the “Termination Effective Date”).

As a result of the failure to obtain requisite financial statements for Magic Bright, the Purchase Agreement was terminated, such termination to be deemed effective as of the Termination Effective Date.  The Magic Bright Acquisition Shares (as defined in the Purchase Agreement) will be deemed to have been returned to the Company and cancelled effective as of the Termination Effective Date.  The Ordinary Shares (as defined in the Purchase Agreement) will be deemed to have been returned to the Sellers effective as of the Termination Effective Date.  The Sellers may retain the $300,000 of Cash Consideration paid by the Company.  The Employment Agreement between the Company and Tony was terminated, such termination to be deemed effective as of the Termination Effective Date.  Tony resigned as a director of the Company, effective March 5, 2012.  The parties provided mutual general releases.

The Company incurred impairment in the amount of $443,000 in 2013 as a result of the Company disposing of damaged equipment with no potential production value to the Company when it did have value in the past.  The equipment had been carried on the books for over two years at a value of $125,000.  The Company also incurred a write off of $318,000 on behalf of Petrosonics, LLC in the anticipation of forming a joint venture together.  The Company entered into a joint venture agreement with Petrosonics, LLC. Pursuant to the Joint Venture Agreement, the parties agreed to the formation of an Irish registered company for the purpose of researching, development, manufacture and commercialization of oil-industry corroborated processes that remove sulfur from crude oil and refined fuels on a worldwide basis. The Company agreed to make a capital contribution of $14,000,000 (including $2,000,000 which the Company agreed to contribute within 30 days of execution of the Joint Venture Agreement, and an additional $12,000,000 which the Company agreed to contribute within 180 days of execution of the Joint Venture Agreement) into the Joint Venture Company for a 51% interest. Petrosonics agreed to contribute certain intellectual property to the Joint Venture Company for a 49% interest.  During the Company’s due diligence production, it incurred various delays which resulted in funding deferments.  The parties agreed to terminate the initial Joint Venture Agreement, effective as of September 3, 2013, with the understanding that a new Joint Venture Agreement may be entered into at a later date.   The parties have also agreed verbally to enter into a termination agreement wherein the Company will be reimbursed a portion of the funds raised in exchange for a release of the IP that was assigned in advance to the entity formed for the Joint Venture.  The Company incurred impairment in the amount of $118,783 in 2012 when it determined the construction in progress it had been carrying on the balance sheet for the previous two years would not be conducive to the plastic and tires to oil process.  The Company wrote off in 2012 the Naranza lease deposit in the amount of $261,890 as bad debt when it was concluded the collection of the deposit had become questionable.   

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The general and administrative expenses for the year ended December 31, 2013 were $105,233 as compared to $117,457 for the year ended December 31, 2012, a decrease of approximately 10%. This decrease of $12,224 was the result of an decrease in, travel, entertainment, advertising and marketing concerning the promotion of the company.

The non-operating expenses for the year ended December 31, 2013 were $2,547,527 as compared to $454,005 for the year ended December 31, 2012, an increase of 461%.  The increase of $2,093,522 in non-operating expenses was the result of an increase of $64,286 in amortization of debt discount when the Company received $150,000 in cash from a private party and the Company issued 60,000 shares of restricted common stock when making the loan.  The discounted value of the stock was $64,286 as compared to none for the year ended December 31, 2012.  Interest expense in the amount of $122,514 for the year ended December 31, 2013 increased by $217 when compared to the $122,297 recorded for the year ended December 31, 2012.   The Company had no derivatives for the year ended December 31, 2013. The Company recorded a loss in the amount of $2,360,727 when it agreed to convert debt to shares of restricted common stock of the Company as compared to a $447,446 loss when it converted debt to shares of restricted common stock for the year ended December 31, 2012.

As a result of the above, the Company had an accumulated deficit of $16,213,181 since inception through December 31, 2013.

Liquidity and Capital Resources

As of December 31, 2013, the Company had a balance of cash in the bank in the amount of $185 as compared to $1,986 as of December 31, 2012.  The Company estimates it will need to raise an additional $475,000 in 2014 for working capital.   As of December 31, 2013, the Company had accounts payable to vendors and accrued expenses in the amount of $686,538 as compared to $749,144 as of December 31, 2012.  As of December 31, 2013, the Company had no accounts payable to related parties as compared to $4,975 as of December 31, 2012. As of December 31, 2013, the Company has loans payable-other in the amount of $1,115,572 as compared to $840,750 as of December 31, 2012.  These loans were used for working capital.  The loan payable to related party was a working capital loan to the Company in the amount of $12,287 by its chief executive officer, Mr. Gary DeLaurentiis.  The related party loan payable was $44,187 for the year ended December 31, 2012.  The Company had three outstanding promissory notes issued to Asher Enterprises, Inc. in the aggregate amount of $203,250 at year end 2011.  These were convertible promissory notes with a discounted conversion price.  These notes were paid off during the year ended 2012

The unsecured, loan payable in the form of a line of credit with the CEO originally dated October 7, 2009 provided up to $200,000 at 4% interest per annum to cover various expenses and working capital infusions until the Company can be funded. This loan has been extended every year to the end of December of the next upcoming year.  The original amount was increased from $200,000 to $1,000,000. This loan has been extended again to December 31, 2014.  The CEO has advanced $1,242,456 from inception through December 31, 2013 and the Company repaid $275,792 of these advances.  The Company converted $754,377 of these advances into shares of common stock on May 11, 2010 at a $1.00 per share and converted $200,000 in common shares on December 1, 2011.  The remaining principal under this loan due as of December 31, 2013 is $12,287. Interest expense on this line of credit for the years ended December 31, 2013 and 2012 was $1,197 and $2,224, respectively.  In addition, $30,463 interest is accrued at December 31, 2013. The Company anticipates the CEO will convert the balance of these advances into common stock in the future.

The Company at the beginning of 2013 had three unsecured loans with H. E. Capital, S. A.  in the amount of $663,250.  These loans accrue interest at the rate of 8% per annum.  The due dates of the loans were extended to December 31, 2014.  Balance of the loans at December 31, 2013 was $616,772 with accrued interest in the amount of $50,473.   In 2013, $676,750 of principal and $119,324 of accrued interest was converted into 1,592,148 shares of the Company’s common stock.   Two of the above mentioned loans with H. E. Capital, S. A. were eliminated in the conversions.  In 2012, $387,000 of principal was converted into 349,333 shares of the Company’s common stock.   Please refer to Note 5 of the financial statements which are a part of this filing for further information for a detail of the transactions during the year ended December 31, 2013.

The Company during the year ended December 31, 2010 entered into a loan payable with an individual for a total amount of $20,000 at 10% due on demand. The Company repaid $10,000 of this note on August 10, 2010 and repaid $2,500 on April 13, 2011.  The interest went to 12% on February 25, 2011 when the note was not paid in full.  As of December 31, 2013 the loan has an outstanding balance of $7,500 and accrued interest in the amount of $4,057.

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On October 22, 2010, the Company entered into an engagement for independent introducing agent services with Legend Securities, Inc. (“LSI”) where in LSI agreed to introduce investors to the Company in the form of equity and/or debt.  In accordance with the agreement, LSI was to receive 10% of the cash equivalent received by the Company as a fee and 2% of the cash equivalent as an expense allowance.  LSI received as compensation for this agreement, $39,600 in fees and expenses in 2010 and $6,000 on January 21, 2011.

The Company as of December 31, 2010, raised $330,000 from the investors, and an additional $50,000 in January 2011. The amounts advanced to the Company were converted into a 12% secured debenture dated January 24, 2011 due July 24, 2011. On July 21, 2011, the secured debentures were extended an additional six months to a new maturity date of January 24, 2012.  All other original terms remained the same.  The Investors received an additional 380,000 shares of common stock in exchange for granting the extension.  In addition, the investors were issued 190,000 warrants dated January 24, 2011. LSI also was issued 19,000 warrants as a fee (10% of the total warrants issued). On February 2, 2012, the Company issued 1,000,000 shares of common stock to the holders of the secured debentures for extending the maturity date of the debentures to September 24, 2012. The Company by direction of Legend Securities, Inc. also issued to the holders of the secured debentures five-year warrants to purchase 100,000 shares of common stock at an exercise price of $0.10 per share.  The warrants were issued to the holders of the secured debentures simultaneously with the issuance of the above mentioned stock.  The Company is in negotiations with the investors to extend their loans.  The balance of these debentures on December 31, 2013 was $305,000 compared to $305,000 for the year ended December 31, 2013.  Interest accrued as of December 31, 2013 (12%) was $88,685.  $75,000 of these notes was paid on April 27, 2012.  Please refer to Note 5 of the financial statements which are a part of this filing for further information.

On November 16, 2012, the Company entered into a loan agreement with an individual in the amount of $170,000 at 8% due on November 16, 2013. The Company used the funds to pay off the convertible notes held by Asher Enterprise, Inc.  As of December 31, 2013 this loan has an outstanding balance of $170,000 and accrued interest in the amount of $15,314.

The Company issued a promissory note on March 19, 2013 to an individual in the amount of $150,000 at 8% due on March 18, 2014.  The Company used the funds for working capital.  As of December 31, 2013 this loan has an outstanding balance of $150,000 and accrued interest in the amount of $4,356. >

The Company issued a promissory note in the amount of $171,300 on October 1, 2013 to a vendor in exchange for converting accounts payable.  The note accrues interest at 8% and is due on September 30, 2014.  As of December 31, 2013 this note has an outstanding balance of $171,300 and accrued interest in the amount of $3,454.

The following tables provide selected financial data about our company for the years ended December 31, 2012 and 2011.

Balance Sheet Data:		12/31/13		12/31/12
Cash	$	185	$	1,986
Total assets	$	41,137	$	131,770
Total liabilities	$	5,238,481	$	4,457,928
Shareholders' equity	$	(5,197,344)	$	(4,326,158)

Cash provided by financing activities since inception through December 31, 2013 was $3,364,826. $293,000 was the result from the sale of shares for cash, $2,099,662 (net) as a result of a loan from different entities and $972,164 (net) was a loan from a related party, the company CEO.

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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.

ITEM 7A. QUANTATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Not applicable.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

All financial information required by this Item is attached hereto at the end of this annual report on Form 10-K beginning on page F-1 and is hereby incorporated by reference.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

 None.

ITEM 9A(T). CONTROLS AND PROCEDURES

Our principal executive and principal financial officers have evaluated the effectiveness of our disclosure controls and procedures, as defined in Rules 13a - 15(e) and 15d - 15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this annual report.  They  have concluded that, based on such evaluation, our disclosure controls and procedures were not effective due to the material weaknesses in our internal control over financial reporting as of December 31, 2013, as further described below.

Management’s Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, the Company's principal executive and principal financial officers and effected by the Company's board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:

• Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company;

• Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and

• Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

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As of December 31, 2013 management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") and SEC guidance on conducting such assessments. Based on that evaluation, they concluded that, as of December 31, 2013, such internal controls and procedures were not effective to detect the inappropriate application of US GAAP rules as more fully described below. This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.

The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (2) inadequate segregation of duties consistent with control objectives; and (3) ineffective controls over period end financial disclosure and reporting processes. The aforementioned material weaknesses were identified by our Chief Executive Officer in connection with the review of our financial Statements as of December 31, 2013.  These material weaknesses can be rectified by an injection of funding needed to hire personnel to fill the positions needed to carry out the necessary duties for adequate internal controls.  Management believes that the material weaknesses set forth in items (2) and (3) above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.

This annual report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to rules of the Securities and Exchange Commission which permanently exempt smaller reporting companies.

Management’s Remediation Initiatives

In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate when funding permits, the following series of measures:

We will create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us. Further, we plan to appoint one or more outside directors to our board of directors who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management when funds are available to us.

Management believes that the appointment of one or more outside directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of outside directors on our Board.

We anticipate that these initiatives will be at least partially, if not fully, implemented by December 31, 2014. Additionally, we plan to test our updated controls and remediate our deficiencies by December 31, 2014.

Changes in Internal Controls Over Financial Reporting

There was no change in our internal controls over financial reporting that occurred during the quarter ended December 31, 2013, which has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.

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ITEM 9B. OTHER INFORMATION.

None.

 PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE .

Below are the names and certain information regarding the Company’s executive officers and directors.

Name	Age	Position
Gary M. DeLaurentiis	69	Chief Executive Officer and Chairman
Lou Perches	66	Chief Operating Officer, Director

Directors serve until the next annual meeting of stockholders or until their successors are elected and qualified.  Officers serve at the discretion of the board of directors.

Gary M. De Laurentiis, Chairman and Chief Executive Officer

Mr. De Laurentiis has been our Chief Executive Officer and Chairman since July 2009.  Prior to that, he served as our Chief Operating Officer from September 2008 until July 2009.  Mr. DeLaurentiis has been active in the plastics recycling business for nearly 20 years. In partnership with the Chinese government, he designed and built his first plastics recycling plant in 1987. In the years since, he has designed, remodeled, built and operated plants in Mexico, North Carolina, Ohio, Florida, California and Canada for both local governments and private industries. From 1992 to 1995, Mr. De Laurentiis worked directly with the state government in Campeche, Mexico, living on-site for eighteen (18) months while directing the entire project. In 1996, an Ohio based group recruited Mr. De Laurentiis to open a shuttered recycling plant. Mr. De Laurentiis left the Company in 1999 to start ECO2 Plastics Inc. Subsequently, he left Eco2 Plastics in September 2008 to start Green EnviroTech. Mr. DeLaurentiis’s experience in the plastics industry led to the conclusion that Mr. De Laurentiis should serve on the Company’s board given the Company’s business and structure.

Lou Perches, Chief Operating Officer

Mr. Perches has served as our Chief Operating Officer since January 2011 and as a director since March 2013. Mr. Perches was a systems and management consultant for Florida Fruit Juice from May 2010 to September 2010.  Mr. Perches was General Manager of Bapco Closures LLC from October 2008 to April 2010. From March 2008 to August 2008 Mr. Perches was Manager, Quality Control at Rexam Pharma. From January 2007 to February 2008 Mr. Perches was Manager Quality Assurance at Amcor Packaging. From October 2005 to January 2006 Mr. Perches was Quality System 3rd Party Auditor (Consultant) for A.I.B. International. Mr. Perches received a BA in Industrial Technology, Quality Engineering from Fullerton State University.

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Section 16(a) Beneficial Ownership Compliance

Our officers, directors and shareholders owning greater than ten percent (10%) of our shares are required to file beneficial ownership reports pursuant to Section 16(a) of the Securities and Exchange Act (the “Exchange Act”). All such reporting obligations were complied with during the year ended December 31, 2013, except that, our chief executive officer and chief operating officer have not filed Form 3’s.

 Code of Ethics

We do not currently have a code of ethics that applies to our Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer or Controller, or persons performing similar functions.  Because we have only limited business operations and two (2) officers and two (2) directors, we believe a code of ethics would have limited utility. We intend to adopt such a code of ethics as our business operations expand and we have more directors, officers and employees.

Audit Committee Financial Expert

Because the small size and early stage of the Company, we do not currently have a separately designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act, or a committee performing similar functions.

Board Leadership Structure and Role in Risk Oversight

Although we have not adopted a formal policy on whether the Chairman and Chief Executive Officer positions should be separate or combined, we have traditionally determined that it is in the best interests of the Company and its shareholders to combine these roles.  Mr. DeLaurentiis has served as our Chairman since July 2009. Due to the small size and early stage of the Company, we believe it is currently most effective to have the Chairman and Chief Executive Officer positions combined.

Our board of directors is primarily responsible for overseeing our risk management processes.  The board of directors receives and reviews periodic reports from management, auditors, legal counsel, and others, as considered appropriate regarding our company’s assessment of risks. The board of directors focuses on the most significant risks facing our company and our company’s general risk management strategy, and also ensures that risks undertaken by our Company are consistent with the board’s appetite for risk. While the board oversees our company’s risk management, management is responsible for day-to-day risk management processes. We believe this division of responsibilities is the most effective approach for addressing the risks facing our company and that our board leadership structure supports this approach. 

Changes in Nominating Process

During the year ended December 31, 2013, there are no material changes to the procedures by which security holders may recommend nominees to our board of directors.

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ITEM 11. EXECUTIVE COMPENSATION.

SUMMARY COMPENSATION TABLE

 The following table sets forth all compensation paid in respect of our Chief Executive Officer and those executive officers who received compensation in excess of $100,000 per year for the years ended December 31, 2013 and 2012

Name & Principal position	Year	Salary ($)	Bonus ($)	Stock Awards ($)	Option Awards ($)	Non-Equity Incentive Plan Compensation	Change in Pension Value and Non-Qualified Deferred Compensation Earnings ($)	All Other Compensation Earnings ($)	Total ($)
Gary DeLaurentiis Chief Executive Officer and Chariman	2012 2013	$300,000 $300,000		$24,500					$300,000 $324,500
Wayne Leggett Chief Financial Officer Director	2012	$ 240,000							$240,000
Lou Perches Chief Operations Officer	2012 2013	$187,500   $210,000		$47,200					$187,500 $257,200

· Gary DeLaurentiis CEO salary was accrued in the amount of $300,000 at December 31, 2012 and $300,000 at December 31, 2012.  The stock awards of 25,000 common shares were issued during the year at $0.01 per share when the shares were valued at $24,500.

· Wayne Leggett CFO salary was accrued in the amount of $240,000 at December 31, 2012 .  Wayne Leggett resigned as CFO and Director on March 11, 2013.

· Lou Perches COO salary was accrued in the amount of $210,000 at December 31, 2013 and $187,000 for December 31, 2012.  The stock awards of 65,000 common shares were issued during the year at $0.01 per share when the shares were valued at $47,200.

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Employment Agreements

Employment Agreement with Gary DeLaurentiis and Wayne Leggett

On June 1, 2011, the Company entered into employment contracts with its Chief Executive Officer at a base salary of $300,000 and its Chief Financial Officer at a base salary of $240,000 for a term of 36 months with one year automatic extensions. Each contract provided for annual bonuses in an amount equal to at least the base salary of the officers. The contracts also provide for stock and/or option incentive for the purchase of common stock at the discretion of the Board of Directors. Salaries and bonuses are being accrued until such time the company has the funds to pay accrued wages. Wayne Leggett resigned as the Company’s Chief Financial Officer and Director on March 11, 2013.

Director Compensation

No director of the Company received any compensation for services as director for the year ended December 31, 2013.

Outstanding Equity Awards at December 31, 2013

The following table sets forth outstanding equity awards to our named executive officers as of December 31, 2013

OPTION AWARDS STOCK AWARDS

Name (a)	Number of Securities Underlying Unexercised Options (#) Exercisable (b)	Number of Securities Underlying Unexercised Options (#) Unexercisable (c)	Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) (d)	Option Exercise Price ($) (e)	Option Expiration Date (f)	Number of Shares or Units of Stock That Have Not Vested (#) (g)	Market Value of Shares or Units of Stock That Have Not Vested ($) (h)	Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i)	Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested (#) (j)
Wayne Leggett	15,000			$1.00	5/5/2014

-25-

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table sets forth certain information, as of March 31, 2014 with respect to the beneficial ownership of the outstanding Common Stock by (i) any holder of more than five (5%) percent; (ii) each of the Company’s executive officers and directors; and (iii) the Company’s directors and executive officers as a group. Except as otherwise indicated, each of the stockholders listed below has sole voting and investment power over the shares beneficially owned.  This is based upon a total of 8,093,017 shares issued and outstanding as of March 18, 2014.

Name of Beneficial Owner (1)	Common Stock Beneficially Owned		Percentage of Common Stock (2)
Directors and Officers:
Gary M. De Laurentiis		900,000		11.12
Lou Perches		85,000		*
All officers and directors as a group (2  persons)		985,000		12.17

Way                      Black Lion Oil Ltd	779,016	9.63
(1)	Except as otherwise indicated, the address of each beneficial owner is:   210 S. Sierra Ave Suite A, Oakdale, CA 95361.
(2)	Applicable percentage ownership is based on 8,093,017 shares of Common Stock outstanding as of March 19, 2014 together with securities exercisable or convertible into shares of common stock within 60 days of April 3, 2014 for each stockholder.  Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities.  Options or warrants to purchase shares of Common Stock that are currently exercisable or exercisable within 60 days of April 3, 2014 are deemed to be beneficially owned by the person holding such securities for the purpose of computing the percentage of ownership of such person, but are not treated as outstanding for the purpose of computing the percentage ownership of any other person.

-26-

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

  Certain Relationships and Related Transactions

Gary De Laurentiis, the Company’s chief executive officer, has provided Green EnviroTech with an unsecured line of credit of up to $1,000,000. Interest on the line of credit is 4% per annum. As of December 31, 2013, Mr. De Laurentiis has loaned the Company $12,287 pursuant to the line of credit and there is interest due of $30,463.

On December 7, 2011, the Company issued 40,000,000 restricted common shares of the Company to Mr. DeLaurentiis to reduce $200,000 of accrued salary due him.  The Company also issued to Mr. DeLaurentiis 20,000,000 restricted common shares of the Company on September 25, 2012 to reduce $240,000 of accrued salary due him.  On December 7, 2011, the Company issued 16,000,000 restricted common shares to Wayne Leggett, the Company’s then- CFO to reduce $80,000 in accrued salary due him. These shares were impacted by the 1 for 100 reverse common stock split on March 27, 2013.  During the year ended 2013, the Company issued to Mr. DeLaurentiis 267,698 restricted common shares to reduce $267,448 of accrued salary due him.  During the year ended 2013, the Company issued to Mr. Lou Perches, COO, 75,000 restricted common shares to reduce $20,650 of accrued salary due him.

Director Independence

Our directors are not independent as that term is defined under the Nasdaq Marketplace Rules.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

For the year ended December 31, 2013, the total fees charged to the company for audit services, including quarterly reviews, were $21,000, for other audit-related services were $0, for tax services were $0, and for other services were $0.

For the year ended December 31, 2012, the total fees charged to the company for audit services, including quarterly reviews, were $29,000, for other audit-related services were $0, for tax services were $0, and for other services were $0.

ITEM 15. EXHIBITS, FINANCIAL STATEMENTS AND SCHEDULES.

Exhibit Number	Description
3.1	Certificate of Incorporation (Incorporated by reference to our registration statement on Form S-1 (File No. 333-149626), filed with the Securities and Exchange Commission on March 11, 2008)
3.2	Certificate of Amendment of Incorporation (Incorporated by reference to our current report on Form 8-K, filed with the Securities and Exchange Commission on July 23, 2010
3.3	Certificate of Designation of Magic Bright Acquisition Series C Convertible Preferred Stock (incorporated by reference to our current report on Form 8-K filed with the SEC on February 15, 2011)
3.4	Certificate of Amendment to Certificate of Incorporation effective March 17, 2013
3.5	By-Laws (Incorporated by reference to our registration statement on Form S-1 (File No. 333-149626), filed with the Securities and Exchange Commission on March 11, 2008)
10.1	Agreement and Plan of Merger, dated November 20, 2009, by and among the Company, Green Enviro Tech Corp. and Green EnviroTech Acquisition Corp. (Incorporated by reference to our current report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2009)
10.2	Equipment Purchase and Installation Agreement, dated December 12, 2009, by and among Green Enviro Tech Corp., and Plast2Fuel Corporation (Incorporated by reference to our current report on Form 8-K filed with the Securities and Exchange Commission on January 29, 2009)
10.3	Oil Marketing and Distribution Agreement, dated December 12, 2009, by and among Green Enviro Tech Corp. and Plast2Fuel Corporation (Incorporated by reference to our current report on Form 8-K filed with the Securities and Exchange Commission on January 29, 2009)
10.4	License Agreement, dated December 12, 2009, by and among Green Enviro Tech Corp. and Past2Fuel Corporation (Incorporated by reference to our current report on Form 8-K filed with the Securities and Exchange Commission on January 29, 2009)
10.5	Employment Agreement between the Company and Gary De Laurentiis (incorporated by reference to our annual report on  Form 10-K filed with the SEC on April 8, 2010)
10.6	Employment Agreement between the Company and Jeffrey Chartier (incorporated by reference to our annual report on  Form 10-K filed with the SEC on April 8, 2010)
10.7	Employment Agreement between the Company and Andrew Kegler (incorporated by reference to our annual report on  Form 10-K filed with the SEC on April 8, 2010)
10.7	HE Capital, SA Note dated April 14, 2010 (incorporated by reference to our quarterly report on Form 10-Q filed with the SEC on May 12, 2010)

-27-

10.8	First Amendment to Plas2Fuel License Agreement, dated May 18, 2010, by and between Green EnviroTech and Plas2Fuel, Inc.  (incorporated by reference to our current report on Form 8-K filed with the SEC on June 8, 2010)
10.9	License Agreement, dated April 30, 2010, by and between Green EnviroTech and Ergonomy (incorporated by reference to our current report on Form 8-K filed with the SEC on June 8, 2010)
10.10	License Agreement, dated May 18, 2010, by and between Green EnviroTech and Thar Process, Inc. (incorporated by reference to our current report on Form 8-K filed with the SEC on June 8, 2010)
10.11	License Agreement, dated May 18, 2010, by and between Green EnviroTech and Thar Process, Inc. (incorporated by reference to our current report on Form 8-K filed with the SEC on June 8, 2010)
10.12	8% Promissory Note, dated August 6, 2010 (incorporated by reference to our quarterly report on Form 10-Q, filed with the SEC on November 9, 2010)
10.13	8% Promissory Note, dated September 13, 2010 (incorporated by reference to our quarterly report on Form 10-Q, filed with the SEC on November 9, 2010)
10.14	Form of  Securities Purchase Agreement (incorporated by reference to our current report on Form 8-K filed with the SEC on January 27, 2011)
10.15	Form of Debenture (incorporated by reference to our current report on Form 8-K filed with the SEC on January 27, 2011)
10.16	Form of Security Agreement (incorporated by reference to our current report on Form 8-K filed with the SEC on January 27, 2011)
10.17	Form of Warrant (incorporated by reference to our current report on Form 8-K filed with the SEC on January 27, 2011)
10.18	Separation Agreement, dated as of January 25, 2011, between the Company and Jeffrey Chartier incorporated by reference to our current report on Form 8-K filed with the SEC on January 31, 2011)
10.19	Securities Purchase Agreement, dated February 14, 2011, between the Company, Magic Bright and the Sellers incorporated by reference to our current report on Form 8-K filed with the SEC on February 15, 2011)
10.20	Amendment No. 1 to Securities Purchase Agreement, between the Company, Magic Bright and the Sellers, dated March 16, 2011 (incorporated by reference to Form 8-K filed with the SEC on March 18, 2011)
10.21	Amendment No. 2 to Securities Purchase Agreement, between the Company, Magic Bright and the Sellers, dated March 25, 2011 (incorporated by reference to Form 8-K filed with the SEC on March  31, 2011)
10.22	Employment Agreement, dated as of March 30, 2011 between the Company and Wong Kwok Wing, Tony, dated  as of March 31, 2011 (incorporated by reference to Form 8-K filed with the SEC on April 1, 2011)
10.23	Letter Agreement, dated as of March 5, 2012, between the Company, Magic Bright, and the Sellers (incorporated by reference to Form 8-K filed with the SEC on March 9, 2012).
10.24	Letter Agreement, dated as of June 1, 2013, between the Company and Black Lion Oil Limited
16.1	Letter from KBL, LLP (incorporated by reference to 8-K filed with the SEC on May 22, 2012)
16.2	Letter from Michael F. Cronin, CPA (incorporated by reference to 8-K filed with the SEC on March 13, 2013)

-28-

21.1	List of Subsidiaries: Green EnviroTech Wisconsin, Inc.
31.1	Certification by Principal Executive and Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act
32.1	Certification by Principal Executive and Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code
EX-101.INS	XBRL INSTANCE DOCUMENT
EX-101.SCH	XBRL TAXONOMY EXTENSION SCHEDULE
EX-101.CAL	XBRL EXTENSION CALCULATION LINKBASE
EX-101.DEF	XBRL EXTENSION DEFINITION LINKBASE
EX-101.LAB	XBRL EXTENSION LABLE LINKBASE
EX-101.PRE	XBRL EXTENSION PRESENTATION LINKBASE

-29-

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.

	GREEN ENVIROTECH HOLDINGS, CORP.
Date: March 31, 2014	By:	/s/ Gary M. De Laurentiis
		Gary M. De Laurentiis Chief Executive Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

Pursuant to the requirements of the Securities Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Title	Date
/s/ Gary M. De Laurentiis	Chief Executive Officer and Chairman of the Board	March 31, 2014
Gary M. De Laurentiis	(Principal Executive, Financial and Accounting Officer)
/s/ Lou Perches
Lou Perches	Director	March 31, 2014

-30-

GREEN ENVIROTECH HOLDINGS CORP.

(FORMERLY WOLFE CREEK MINING, INC.)

 (A DEVELOPMENT STAGE COMPANY)

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Financial Statements	F-1
Report of Independent Registered Public Accounting Firm	F-2
Consolidated Balance Sheets as of December 31, 2013 and December 31, 2013	F-3
Consolidated Statements of Operations For the Years Ended December 31, 2013 and 2012 and Period October 6, 2008 (Inception) through December 31, 2013	F-4
Consolidated Statements of Changes in Stockholders’ Equity (Deficit) from October 6, 2008 (Inception) through December 31, 2013	F-5
Consolidated Statements of Cash Flows For the Years Ended December 31, 2013and 2013 and Period October 6, 2008 (Inception) through December 31, 2013	F-6
Notes to Consolidated Financial Statements	F-7-16

F-1

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

Green Envirotech Holdings Corp. (a development stage company)

Riverbank, California

We have audited the accompanying consolidated balance sheet of Green Envirotech Holdings Corp. and its subsidiary (a development stage company) (collectively, the “Company”) as of December 31, 2013 and 2012, and the related consolidated statements of operations, changes in stockholders’ deficit, and cash flows for the years then ended and the period from October 6, 2008 (inception) through December 31, 2013. These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. The consolidated statements of operations, changes in stockholders’ deficit, and cash flows for the period from October 6, 2008 (inception) through December 31, 2011 were audited by other auditors whose report dated August 6, 2012 expressed an unqualified opinion, with an explanatory paragraph discussing the Company’s ability to continue as a going-concern. Our opinion on the consolidated statements of operations and comprehensive loss, changes in stockholders’ deficit, and cash flows for the period from October 6, 2008 (inception) through December 31, 2013, insofar as it relates to amounts for prior periods through December 31, 2011, is solely based on the report of other auditors.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform an audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Green Envirotech Holdings Corp. and its subsidiary as of December 31, 2013 and 2012 and the results of their operations and their cash flows for the years then ended and the period from inception through December 31, 2013, in conformity with accounting principles generally accepted in the United States of America.

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has a working capital deficit as of December 31, 2013 and has suffered recurring losses from operations, which raises substantial doubt about its ability to continue as a going concern. Management’s plans regarding those matters are described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ MaloneBailey, LLP

www.malonebailey.com

Houston, Texas

March 31, 2014

F-2

GREEN ENVIROTECH HOLDINGS CORP.
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2013 AND 2012
	2013	2012
ASSETS
CURRENT ASSETS
Cash	$                            185	$                       1,986
Other current assets	10,119	4,784
Total current assets	10,304	6,770
Fixed Assets
Plant Equipment, not yet placed in service	-	125,000
	-	125,000
Other Assets:
Engineering Costs	30,833	-
	30,833	-
TOTAL ASSETS	$                       41,137	$                   131,770
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable	$                     686,538	$                   749,144
Accounts payable- related party	-	4,975
Accrued expenses	3,119,084	2,513,872
Secured debentures payable	305,000	305,000
Loan payable - other	1,115,572	840,750
Loan payable - related party	12,287	44,187
Total current liabilities	5,238,481	4,457,928
TOTAL LIABILITIES	5,238,481	4,457,928
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.001 par value, 25,000,000 shares authorized,
0 shares issued and outstanding	-	-
Common stock, $0.001 par value, 250,000,000 shares authorized,
5,904,688 and  2,499,585 shares issued and outstanding	5,905	2,500
Additional paid in capital	11,009,932	6,130,525
Deficit accumulated during development stage	(16,213,181)	(10,459,183)
Total stockholders' equity (deficit)	(5,197,344)	(4,326,158)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$                       41,137	$                   131,770

 The accompanying notes are an integral part of these condensed consolidated financial statements.

F-3

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE YEARS  ENDED DECEMBER 31, 2013 AND 2012 AND

FOR THE PERIOD OCTOBER 6, 2008 (INCEPTION) THROUGH DECEMBER 31, 2013

				OCTOBER 6, 2008
				(INCEPTION)
		YEAR ENDED	YEAR ENDED	THROUGH
		DECEMBER 31, 2013	DECEMBER 31, 2012	DECEMBER 31, 2013
REVENUE		$                    -	$                  -	$              1,950
COST OF REVENUES		-	-	33,633
GROSS PROFIT		-	-	(31,683)
OPERATING EXPENSES
Wages and professional fees		2,658,238	2,538,199	10,159,688
Impairment expense		443,000	118,783	561,783
Bad debt expense		-	261,890	261,890
General and administrative		105,233	117,457	914,910
	Total operating expenses	3,206,471	3,036,329	11,898,271
NON-OPERATING EXPENSES
Amortization of debt discount		64,286	-	187,406
Interest expense		122,514	122,297	439,679
Interest expense-Penalty		-	-	67,750
(Gain) or Loss on write-off of derivative liability		-	(115,738)	254,337
Loss on debt conversion		2,360,727	447,446	2,950,973
	Total non-operating expenses	2,547,527	454,005	3,900,145
NET (LOSS) FROM CONTINUING OPERATIONS		(5,753,998)	3,490,334	(15,830,099)
OTHER INCOME:
Disposition of Riverbank Permits		-	-	250,000
	Total Other Income	-	-	250,000
DISCONTINUED OPERATIONS:
( Loss) on disposal of discontinued operations		-	-	(429,066)
Income from discontinued operations		-	-	24,186
	Total loss from discontinued operations	-	-	(404,880)
NET (LOSS)		$       (5,753,998)	$         ( 3,490,334)	$       (15,984,979)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING		3,952,778	2,104,741	n/a
NET (LOSS) PER SHARE		$                (1.46)	$                  (1.66)	n/a

 The accompanying notes are an integral part of these condensed consolidated financial statements.

F-4

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

 CONSOLIDATED STATEMENTS OF CASH FLOW

FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 AND

FOR THE PERIOD OCTOBER 6, 2008 (INCEPTION) THROUGH DECEMBER 31, 2013

			OCTOBER 6, 2008
			(INCEPTION)
	YEAR ENDED	YEAR ENDED	THROUGH
	DEC 31, 2013	DEC 31, 2012	DEC 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$    (5,753,998)	$     (3,490,334)	$       (15,984,979)
Adjustments to reconcile net (loss)  to net cash used in operating activities:
Common stock issued for services	1,221,360	66,700	3,946,209
Common stock issued to reduce and extend debt	-	30,000	336,050
Loss on debt conversion	2,360,727	447,446	2,808,173
Impairment expense	125,000	118,783	243,783
Bad debt expense	-	261,890	261,890
Warrants issued as loan fees to brokers	-	2,998	33,320
Warrants issued to officers	-	-	234,357
Amortization of debt discount	64,286	-	187,406
Gain/loss on derivative liability	-	(151,738)	-
Loss on disposal of discontinued operations	-	-	429,066
Income from discontinued operations	-	-	(24,186)
Change in assets and liabilities
(Increase) in deposits and other current assets	(5,335)	70,216	(272,009)
Increase in accounts payable- related party	(4,975)	(39,208)	-
Increase in accounts payable and accrued expenses	1,518,267	2,249,542	5,023,395
Net cash (used in) operating activities	(474,668)	(433,705)	(2,777,525)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid for the acquisition of Magic Bright	-	-	(300,000)
Expenditures related to purchase of equipment for Riverbank Plant	-	-	(125,000)
Expenditures related to plans for building construction	(30,833)	(4,854)	(149,616)
Net cash (used in) investing activities	(30,833)	(4,854)	(574,616)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of stock for cash	63,000	150,000	293,000
Proceeds received from loan payable - related party	7,000	7,600	1,245,956
Payments on loan payable - related party	(30,700)	(35,909)	(271,092)
Proceeds received from loan payable - other	464,400	206,750	2,281,462
Payments on loan payable - other	-	-	(382,500)
Proceeds received from loan payable - convertible	-	-	135,500
Proceeds received from secured debentures	-	-	50,000
Net cash provided by financing activities	503,700	328,441	3,352,326
NET INCREASE IN CASH AND CASH EQUIVALENTS	(1,801)	(110,118)	185
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	1,986	112,104	-
CASH AND CASH EQUIVALENTS - END OF PERIOD	$              185	$            1,986	$                185
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for:
Interest	$                   -	$           34,163	$        215,161
NON-CASH SUPPLEMENTAL INFORMATION:
Shares issued for accrued salary	$        298,398	$      240,000	$        538,398
Conversion of loans payable for common stock	$        801,574	$      421,500	$     2,535,612
Discount for shares issued as sweeteners	$          64,286	$                  -	$          64,286
Notes payable issued for investment in Petrosonics JV	$       125,000	$                  -	$        125,000
Shares issued for accounts payable	$         73,468	$                  -	$          73,468
Loan assumed by related party	$       171,300	$                  -	$        171,300
Payment of accounts payable by related party	$           2,000	$                  -	$            2,000
Payment of related party debt by nonrelated party	$           4,700	$                  -	$            4,700

 The accompanying notes are an integral part of these condensed consolidated financial statements.

F-5

GREEN ENVIROTECH HOLDINGS CORP.
(A DELELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
FOR THE YEAR ENDED DECEMBER 31, 2013 AND THE YEAR ENDED DECEMBER 31, 2012
							Deficit
							Accumulated
						Additional	During the
		Preferred Stock		Common Stock		Paid-In	Development
		Shares	Amount	Shares	Amount	Capital	Stage	Total
Balance - June 26, 2007 (Inception of Wolfe Creek Mining, Inc.)		-	$           -	-	$           -	$               -	$                 -	$                -
Common shares issued to founders for cash		-	-	449,999	450	14,550	-	15,000
Net loss for the period		-	-	-	-	-	(9,105)	(9,105)
Balance - December 31, 2007		-	-	449,999	450	14,550	(9,105)	5,895
Common shares issued for cash		-	-	150,000	150	24,850	-	25,000
Net loss for the year		-	-	-	-	-	(19,608)	(19,608)
Balance - December 31, 2008		-	-	599,999	600	39,400	(28,713)	11,287
Net loss for the period January 1, 2009 throughNovember 20, 2009 - date of merger with		-	-	-	-	-	(9.845)	(9,845)
	Green EnviroTech Corp.
Net effect of recapitalization with GreenEnviroTechCorp. including repurchase and subsequent
	cancellation of shares and issuance of new shares	-	-	-	-	(208,202)	(310,350)	(518,552)
To reclassify negative paid in capital to retained earnings		-	-	-	-	228,202	(228,202)	-
Net loss for the period November 21, 2009 through December 31, 2009		-	-	-	-	-	(347,179)	(347,179)
Balance - December 31, 2009		-	-	599,999	600	59,400	(924,289)	(864,289)
Common shares issued to consultants and officers		-	-	25,104	25	2,127,757	-	2,127,782
Conversion of notes payable  to common stock		-	-	10,065	10	1,006,478	-	1,006,488
Net loss for the year ended December 31, 2010		-	-	-	-	-	(3,261,492)	(3,261,492)
Balance - December 31, 2010		-	-	635,168	635	3,193,635	(4,185,781)	(991,511)
Issued Preferred Stock in purchase Magic Bright		1,000,000	1,000	-	-	4,999,000	-	5,000,000
Acquisition Reserve in purchase Magic Bright		(1,000,000)	(1,000)	-	-	(4,999,000)	-	(5,000,000)
Issued Common Stock in purchase of Magic Bright		-	-	1,840	2	104,878	-	104,880
Common shares issued to consultants for fees		-	-	271,191	271	471,861	-	472,132
Common shares issued for cash		-	-	3,333	3	49,997	-	50,000
Common shares issued for debt extensions		-	-	3,800	4	1,896	-	1,900
Conversion of notes payable and liabilities to common stock		-	-	789,000	789	562,611	-	563,400
Warrants issued to secured debenture holders		-	-	-	-	123,120	-	123,120
Warrants issued to brokers		-	-	-	-	18,242	-	18,242
Warrants issued to consultants for fees		-	-	-	-	12,080	-	12,080
Warrants issued to Officers		-	-	-	-	234,357	-	234,357
Net loss for the year ended December 31, 2011		-	-	-	-	-	(2,783,068)	(2,783,068)
Balance - December 31, 2011		-	$           -	1,704,332	$      1,704	$  4,772,677	$   (6,968,849)	$  (2,194,468)
Common shares issued for services		-	-	23,000	23	66,677		66,700
Conversion of notes payable to common shares		-	-	412,252	413	421,087		421,500
Conversion of accrued salary to common shares		-	-	200,000	200	239,800		240,000
Common shares issued for debt extensions		-	-	10,001	10	29,990		30,000
Common shares issued for cash		-	-	150,000	150	149,850		150,000
Warrants issued to secured debenture holders		-	-	-	-	2,998		2,998
Loss on debt conversion						447,446		447,446
Net loss for the year ended December 31, 2012		-	-	-	-	-	(3,490,334)	(3,490,334)
Balance - December 31, 2012		-	$             -	2,499,585	$      2,500	$  6,130,525	$ (10,459,183)	$  (4,326,158)
Common shares issued for fractional shares resulting from1 for 100 reverse stock split
	effective March 27, 2013			33
Common shares issued for services		-	-	1,047,864	1,048	1,220,312		1,221,360
Conversion of notes payable to common shares		-	-	1,606,251	1,606	799,968		801,574
Conversion of accrued salary to common shares		-	-	476,198	476	297,922		298,398
Conversion of accounts payable to common shares		-	-	151,757	152	73,316		73,468
Common shares issued for cash		-	-	63,000	63	62,937		63,000
Common shares issued as sweeteners for debt		-	-	60,000	60	64,226		64,286
Loss on debt conversion		-	-	-	-	2,360,727		2,360,727
Net loss for the year ended December 31, 2013		-	-	-	-	-	(5,753,998)	(5,753,998)
Balance - December 31, 2013		-	$             -	5,904,688	$      5,905	$11,009,932	$ (16,213,181)	$  (5,197,344)

 The accompanying notes are an integral part of these condensed consolidated financial statements.

F-6

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

NOTE 1-ORGANIZATION AND BASIS OF PRESENTATION

Green EnviroTech Holdings Corp. (the “Company”) was incorporated on June 26, 2007 under the name Wolfe Creek Mining, Inc. under the laws of the State of Delaware. On November 20, 2009, the Company completed a reverse merger transaction pursuant to which it acquired Green EnviroTech Corp., a Nevada corporation.  Wolfe Creek Mining, Inc. up until November 20, 2009 was primarily engaged in the acquisition and exploration of mining properties.  Green EnviroTech Corp was incorporated on October 6, 2008 and was engaged in plastics recovery.  The financial statements included herein are the financials of Green EnviroTech Holdings and subsidiaries from October 6, 2008 to current.

Green EnviroTech Holdings Corp. is an innovative technology company that has developed a patent pending oil conversion process utilizing a mixture of plastic and tires. The "GETH Process" revolutionizes the disposal of plastic waste and tires and cleans up our landfills by producing a high grade of oil.

The proprietary conversion process uses established pyrolysis technology with additional distillation applications.  

Going Concern

These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business.

The Company has generated minimal revenues since inception and has generated losses since inception and needs to raise additional funds to carry out the business plan.

The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders and the ability of the Company to obtain necessary equity financing to continue and expand operations.

The Company has had very little operating history to date. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. These factors raise substantial doubt regarding the ability of the Company to continue as a going concern.

Besides generating revenues from proposed operations, the Company may need to raise additional funds to expand operations to the point at which the Company can achieve profitability. The terms of new debt or equity that may be raised may not be on terms acceptable by the Company. If the Company fails to raise adequate funds from unrelated third parties, the Company’s officers and directors may need to contribute additional funds to sustain operations.

NOTE 2-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its interest in a joint venture which had no operations for the year. Intercompany balances and transactions have been eliminated for this joint venture.  

F-7

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

Development Stage Company

The Company is considered to be in the development stage as defined in ASC 915, “Accounting and Reporting by Development Stage Enterprises”. The Company has devoted substantially all of its efforts to the corporate formation and the raising of capital.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents.

The Company maintains cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation.  

Fixed Assets

Fixed assets are stated at cost, less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the related assets. Costs of maintenance and repairs will be charged to expense as incurred. The Company through December 31, 2013, incurred some engineering and design costs on a facility they are planning to build or purchase to refurbish. All of these costs are non-depreciable until the facility is in service.

Recoverability of Long-Lived Assets

The Company reviews long-lived assets on a periodic basis whenever events and changes in circumstances have occurred which may indicate a possible impairment. The assessment for potential impairment will be based primarily on the Company’s ability to recover the carrying value of its long-lived assets from expected future cash flows from its operations on an undiscounted basis.

If such assets are determined to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the fair value of the assets. Fixed assets to be disposed of by sale will be carried at the lower of the then current carrying value or fair value less estimated costs to sell.

Income Taxes

The Company accounts for income taxes utilizing the liability method of accounting.  Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse.  Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized.

F-8

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

 (Loss) Per Share of Common Stock

Basic net loss per common share is computed using the weighted average number of common shares outstanding.  Diluted earnings per share (EPS) include additional dilution from common stock equivalents, such as stock issuable pursuant to the exercise of stock options and warrants.  Common stock equivalents are not included in the computation of diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive for periods presented.

Intangible Assets

ASC 350 requires that intangible assets with finite useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC 360, "Accounting for the Impairment or Disposal of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of.”  The Company’s assessment for impairment of assets involves estimating the undiscounted cash flows expected to result from use of the asset and its eventual disposition. An impairment loss recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset, and considers year-end the date for its annual impairment testing, unless information during the year becomes available that requires an earlier evaluation of impairment testing.  

Stock-Based Awards  

The Company measures the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the grant-date fair value of the award and recognizes it as compensation expense over the period the employee is required to provide service in exchange for the award, usually the vesting period. The Company estimates the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s statement of operations.  The forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the fiscal periods ended December 31, 2013 and 2012, the Company’s estimated forfeiture rate is 0% based on the Company’s historical experience. There were 0 stock options granted to employees during the years ended December 31, 2013 and 2012.

During the fiscal periods ended December 31, 2013 and 2012, the Company granted common stock warrants to investors, lenders and certain officers as discussed in Note 3. The fair value of stock warrants issued in conjunction with the issuance of common stock is recorded against common stock as stock issuance cost. The fair value of stock warrants issued in conjunction with notes payable is recognized as a discount on the related debt and amortized to interest expense over the term to maturity.

The fair value of stock-based awards to employees and directors is calculated using the Black-Scholes-Merton pricing model.  The Black-Scholes-Merton model requires subjective assumptions regarding future stock price volatility and expected time to exercise, which greatly affect the calculated values.  The expected term of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior.  The risk-free rate selected to value any particular grant is based on the U.S. Treasury rate that corresponds to the pricing term of the grant effective as of the date of the grant.  The expected volatility is based on the historical volatility of the common stock of comparable publicly traded companies.  In making this determination and finding another similar company, the Company considered the industry, stage of life cycle, size and financial leverage of such other entities.  These factors could change in the future, affecting the determination of stock-based compensation expense in future periods.

F-9

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

Fair Value Measurements

The Company adopted certain provisions of ASC Topic 820. ASC 820 defines fair value, provides a consistent framework for measuring fair value under generally accepted accounting principles and expands fair value financial statement disclosure requirements. ASC 820’s valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. ASC 820 classifies these inputs into the following hierarchy:

Level 1 inputs: Quoted prices for identical instruments in active markets.

Level 2 inputs: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

Level 3 inputs: Instruments with primarily unobservable value drivers.

Recent Issued Accounting Standards

There were updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

NOTE 3-STOCKHOLDERS’ EQUITY (DEFICIT)

Preferred Stock

The Company has 25,000,000 preferred shares of $0.001 par value stock authorized. The Company has no preferred stock issued and outstanding.

Common Stock

The Company has 250,000,000 common shares of $0.001 par value stock authorized.  On December 31, 2013, the Company had 5,904,688 common shares outstanding.

Effective March 27, 2013, the Company effected a 100-for-1 reverse split of its common stock.  The financial statements were adjusted to reflect the reverse stock split for all periods as of the first day of the first period presented.

Warrants

The Company used the Black-Scholes option pricing model in valuing options and warrants. The inputs for the valuation analysis of the options and warrants include the market value of the Company’s common stock, the estimated volatility of the Company’s common stock, the exercise price and the risk free interest rate. As of December 31, 2013 total unrecognized compensation expense related to nonvested share-based compensation arrangements was $0.

F-10

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

The key inputs in determining grant date fair value are as follows:

	Period     Ended December 31,
		2012
Risk-free interest rate		-1.18%
Dividend yield		0.00%
Expected volatility		374.53%
Expected term (in years)		5.0
Weighted average grant date fair value of warrants granted during the period		$0.10

On February 2, 2012, the Company issued 100,000 warrants to debtholders as an incentive for the extension of the maturity date on the notes to September 24, 2012. These warrants are exercisable for five years at an exercise price of $0.10. Their fair value was $2,998 which was expensed in 2012.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,000 common shares at a price of $10.00 per share.

The following table presents the warrant activity during 2013 and 2012:

			Weighted
			Average
		Warrants	Exercise Price
Outstanding - December 31, 2011		18,519	$5.10
	Granted	1,000	$10
	Forfeited/canceled	-	-
	Exercised	-	-
Outstanding - December 31, 2012		19,519	$5.64
Granted		-
Forfeited/canceled		-
Exercised		-
Outstanding- December 31, 2013		19,519	$5.64
Exercisable – December 31, 2013		19,519	$5.64

The weighted average remaining life of the outstanding common stock warrants as of December 31, 2013 and 2012 was 0.81 and 1.81 years. The aggregate intrinsic value of the outstanding common stock warrants as of December 31, 2013 and 2012 was $0 for both years.

During the year ended December 31, 2012:

-

the Company issued 23,000 common shares for services valued at $66,700

-

the Company converted $421,500 of notes payable into 412,252 common shares.

-

the Company issued 200,000 shares valued at $240,000 to its President for accrued salary

-

the Company issued 10,001 common shares in consideration for the extension of maturity dates on notes payable valued at $30,000 which was expensed. The Company also issued 100,000 warrants as sweetener for the extension of the maturity dates. The warrants were valued at $2,998.

-

the Company sold 150,000 common shares for cash proceeds of $150,000

F-11

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

-

the Company recognized a loss on conversion of $447,446

During the year ended December 31, 2013:

-

the Company issued 1,047,864 common shares for services valued at $1,221,360. Of this amount, 42,000 shares were for related parties valued at $69,960

-

the Company issued 1,606,251 common shares to convert $682,250 of principal and $119,324 of interest on notes payable into equity.  

-

the Company issued 216,198 shares valued at $216,198 to its President for accrued salary and the Company issued 260,000 common shares valued at $82,200 for accrued salary of employees

-

the Company issued 151,757 common shares to convert $73,468 of accounts payable

-

the Company sold 63,000 common shares for cash proceeds of $63,000

-

the Company issued 60,000 shares as a sweetener for a debt holder valued at $64,286. The relative fair value was recorded as a discount to the note and was fully amortized during the year.

-

the Company issued 33 common shares to replace fractional shares as a result of the 100 for 1 reverse stock split dated March 27, 2013

-

the Company recognized a loss on conversion of debt, accrued salaries, and accounts payable of $2,360,727

NOTE 4- LOAN PAYABLE – RELATED PARTY

The Company has an unsecured, loan payable in the form of a line of credit with its CEO. The CEO had provided a line of credit up to $1,000,000 at 4% interest per annum to the Company to cover various expenses and working capital infusions until the Company receives sufficient other funding.  This loan has been extended to December 31, 2014.  Balance of the loan at December 31, 2013 was $12,287 with accrued interest of $30,463.  A reconciliation of the loan is as follows:

	December 31,	December 31,
	2013	2012
Beginning Balance	$44,187	$72,496
Proceeds	7,000	7,600
Payments on accounts payable	2,000	-
Repayments	(30,700)	(35,909)
Repayment by HE Capital	(4,700)	-
Stock Conversion	(5,500)	-
Ending Balance	$12,287	$44,187

F-12

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

NOTE 5-LOAN PAYABLE – OTHER

The Company at the beginning of the year had three unsecured loans with H. E. Capital, S. A.  These loans accrue interest at the rate of 8% per annum.  The due dates of the loans were extended to December 31, 2014.  Balance of the loans at December 31, 2013 was $616,772 with accrued interest in the amount of $50,473.  

In 2013, $682,250 of principal and $119,324 of accrued interest was converted into 1,606,251 shares of the Company’s common stock which were issued to H. E. Capital, S. A.  The conversions occurred at conversion prices lower than the market price at the time resulting in a $2,139,064 loss on debt conversion.  Two of the above mentioned loans with H. E. Capital, S. A. were eliminated in the conversions.

In 2012, $387,000 of principal was converted into 349,333 shares of the Company’s common stock. The conversions occurred at conversion prices lower than the market price at the time resulting in a $437,750 loss on debt conversion.

History of the H. E. Capital loans is as follows:

	December 31,	December 31,
	2013	2012
Beginning Balance	$663,250	$769,750
Proceeds	464,400	450,500
Consulting fees & liabilities	136,172	-
Joint Venture Investment paid direct	125,000	-
Repayment to related party	4,700	-
Allocation Green Power Energy	(100,000)
Repayments	-	(170,000)
Non-cash conversion	(676,750)	(387,000)
Ending Balance	$616,772	$663,250

The Company on February 25, 2010 issued a promissory note to an individual in the amount of $20,000 at 10% due on demand. This interest rate was increased to 12% beginning in 2012.  The Company repaid $10,000 of this note on August 10, 2010.  The Company also repaid $2,500 of this note on April 13, 2011.  As of December 31, 2013 and 2012 the loan has an outstanding balance of $7,500 each year and accrued interest in the amount of $4,057 and $3,157, respectively.

F-13

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

The Company issued a promissory note on November 15, 2012 to an individual in the amount of $170,000 at 8% due on November 16, 2013.  The note was extended to November 15, 2014.  This note was reassigned from HE Capital. The Company used the funds to pay off the convertible notes held by Asher Enterprise, Inc.  As of December 31, 2013 this loan has an outstanding balance of $170,000 and accrued interest in the amount of $15,314.

The Company issued a promissory note on March 19, 2013 to an individual in the amount of $150,000 at 8% due on March 18, 2014.  The Company used the funds for working capital.  As of December 31, 2013 this loan has an outstanding balance of $150,000 and accrued interest in the amount of $4,356.

The Company issued a promissory note in the amount of $171,300 on October 1, 2013 to its attorney in exchange for converting accounts payable.  The note accrues interest at 8% and is due on September 30, 2014.  As of December 31, 2013 this note has an outstanding balance of $171,300 and accrued interest in the amount of $3,454.

NOTE 6-SECURED DEBENTURES

On January 24, 2011, the Company entered into a series of securities purchase agreements with accredited investors (the “Investors”), pursuant to which the Company sold an aggregate of $380,000 in 12% secured debentures (the “Debentures”). Legend Securities, Inc. a broker dealer which is a member of FINRA, received a commission of $45,600 and 19,000 warrants at an exercise price of $0.40 in connection with the sale of the Debentures. The Debentures were initially due at the earlier of 6 months from the date of issuance or upon the Company receiving gross proceeds from subsequent financings in the aggregate amount of $1,000,000. The Debentures bear interest at the rate of 12% per annum, payable upon maturity. The Debentures are secured by the assets of the Company pursuant to security agreements entered into between the Company and the Investors.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 190 common shares at a price of $40.00 per share.

On July 21, 2011, the Secured Debentures were extended an additional six months to a new maturity date of January 24, 2012.  All other original terms  remained the same.  The Company issued to the Investors an additional 380,000 shares of common stock in exchange for granting the extension.  These shares were valued at $38,000 on July 25, 2011, the first day of the extension.  This amount was treated as additional interest to the investors and was expensed.  The extension and modification to the Secured Debentures did not constitute a material modification under ASC 470-50. The Company issued the shares were to the Investors on December 7, 2011.

The Company also issued to the Investors on January 24, 2011 five-year warrants to purchase an aggregate of 190,000 shares of common stock at an exercise price of $0.40, which may be exercised on a cashless basis.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,900 common shares at a price of $40.00 per share.

The $380,000 in proceeds from the financing transaction was allocated to the debt features and the warrants based upon their fair values.  The value of the warrants ($123,120) was recorded as a debt discount on the secured debentures. This discount has been fully amortized as of December 31, 2011.  

The estimated fair value of the 190,000 warrants to the investors at issuance on January 24, 2011 was $141,362. The estimated fair value of the warrants was determined using the Black-Scholes option-pricing model and the assumptions described in Note 3.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,900 common shares at a price of $40.00 per share.

F-14

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

On February 2, 2012, the Company issued 10,001 shares of common stock valued at $30,000 to the Secured Debenture Holders for extending the maturity date of the debentures to September 24, 2012. The Company by direction of Legend Securities, Inc. also issued to the holders of the Secured Debentures five-year warrants to purchase 100,000 shares of common stock at an exercise price of $0.10 per share which said warrants were originally issued to certain employees of Legend Securities, Inc. per a previous Legend Agreement.  The warrants were issued to the holders of the Secured Debentures simultaneously with the issuance of the above mentioned stock and were valued at $2,998.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,000 common shares at a price of $10.00 per share.

On April 27, 2012, the debenture lien holders were paid $75,000 in the completion of the asset purchase agreement agreed to on December 15, 2011 for the sale of the Riverbank inventory and permits.  The $75,000 was carried on the books at December 31, 2011as Other Assets for the benefit of the debenture lien holders.  

The balance of these Debentures on December 31, 2013 was $305,000.  The interest for the year ended December 31, 2013 was $37,108 and accrued as of December 31, 2013 (12%) was $125,793.  These notes were in default at year end

NOTE 7-PROVISION FOR INCOME TAXES

Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Company’s assets and liabilities.  Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Company’s tax return.  Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. Availability of loss usage is subject to change of ownership limitations under Internal Revenue Code 382.

Net Deferred Tax Assets consisted of the following components as of December 31, 2013 and 2012:

Deferred Tax Assets:	2013	2012
NOL Carryover	$3,024,158	$2,439,144
Valuation allowance	(3,024,158)	(2,439,144)
	$              -	$              -

F-15

GREEN ENVIROTECH HOLDINGS CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2013 AND 2012

The income tax provision differs from the amount of income tax determined by applying the U.S. Federal Income tax rate to pretax income from continuing operations for the years ended December 31, 2013 and 2012.

At December 31, 2013, the Company had a net operating loss carry forward in the amount of approximately $8,900,000 available to offset future taxable income through 2033.  The Company established valuation allowances equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods.

NOTE 8-COMMITMENTS

During 2013, the Company entered into an agreement with Black Lion Oil Limited (Black Lion) whose primary focus is on emerging energy technology with broad applications.  Under the agreement, the Company granted to Black Lion exclusive rights to the waste to oil process in specific territories outside of the United States.  In return Black Lion paid $100,000 in cash to the Company as a fee and agreed to pay the Company royalties amounting to ten percent (10.0%) of Black Lion’s gross sales.  The Company used the fee for working capital.  

On June 1, 2013 the Company signed a three year lease for office space and opened its corporate offices in Oakdale, CA.  The office is staffed by the CEO, COO and two office personnel.  The office space is approximately 3,300 sq ft.  The lease calls for lease payments in the amount of $3,300 per month the first year, $3,738 per month the 2^nd year and $3,841 per month the 3^rd year.

NOTE 9-JOINT VENTURE AGREEMENT WITH PETROSONICS, LLC. AND ITS TERMINATION

On May 27, 2013, the Company entered into a joint venture agreement with Petrosonics, LLC. Pursuant to the Joint Venture Agreement, the parties agreed to the formation of an Irish registered company for the purpose of researching, development, manufacture and commercialization of oil-industry corroborated processes that remove sulfur from crude oil and refined fuels on a worldwide basis. The Company agreed to make a capital contribution of $14,000,000 (including $2,000,000 which the Company agreed to contribute within 30 days of execution of the Joint Venture Agreement, and an additional $12,000,000 which the Company agreed to contribute within 180 days of execution of the Joint Venture Agreement to the Joint Venture Company for a 51% interest. Petrosonics agreed to contribute certain intellectual property to the Joint Venture Company for a 49% interest.  During the Company’s due diligence production, it incurred various delays which resulted in funding deferments.  The parties agreed to terminate the initial Joint Venture Agreement, effective as of September 3, 2013, with the understanding that a new Joint Venture Agreement may be entered into at a later date.   The parties have also agreed verbally to enter into a termination agreement wherein the Company will be reimbursed a portion of the funds raised in exchange for a release of the IP that was assigned in advance to the entity formed for the Joint Venture.  The Company had invested $318,000 into the agreement before its termination.

NOTE 10-SUBSEQUENT EVENTS

During the months of January and February 2014 the Company issued the following:.

-

2,069,016 common shares to convert $513,800 of notes payable into equity.

-

44,312 to a nonrelated party to settle $18,234 in accounts payable

-

10,000 shares to a vendor

-

50,000 shares to an employee

-

15,000 shares for the exercise of a warrant by a related party

F-16

EX-10.24

Green EnviroTech Holdings, Corp.

Rights Agreement

With Black Lion Oil Limited

This is an agreement entered into between Green EnviroTech Holdings, a Delaware company, (hereafter GETH), and Black Lion Oil Limited. a company formed under the laws of Ireland, (hereafter Black Lion)

GETH is an energy and technology company with the primary focus on generating fuel from waste plastic and rubber material. GETH has developed and owns a process that converts certain waste material into high-grade oil and other by-products, specifically steel, carbon and syngas. (This process is set forth and fully described in the attached Exhibit A.)

Black Lion is an Irish Company specifically formed to focus on emerging energy technology that has broad applications. Black Lion has the resources to obtain and recruit both capital and management to further develop early phase technologies. Accordingly, Black Lion is desirous to acquire rights to the GETH process for certain defined markets as set forth in Exhibit B attached.

Therefore, both parties agree as follows:

GETH will hereby grant to Black Lion the rights to the waste to oil process (GETH Process) in the territories as so set forth in the attached Exhibit B. Black Lion will then pay a royalty to Green EnviroTech Holdings Corp. of ten percent (10%) of the gross of the finished products’ sales from the operation of the GETH Process as further defined in Exhibit A. The parties further agree that Black Lion has the obligation to install and operate a defined number of plants over a period of time in the territories as set forth in Exhibit C. A GETH Process System consists of pre-processing equipment, two oil conversion systems, two secondary distillation systems, two chloride removal systems and associated storage containers. A GETH Plant is defined as an operating facility consisting of two GETH Systems. The failure by Black Lion to comply with the installation schedule for the designated number of Plants as set forth in Exhibit C will convert the companies’ rights from exclusive to non-exclusive upon reaching an initial threshold installation of two Plants per region within the first two years. If the initial threshold, by region is not met by Black Lion then its rights in the undeveloped territory can be terminated by written notice by GETH and at the sole discretion of GETH. Subject to meeting the requirements and thresholds as set forth in the attached exhibits, GETH will grant Black Lion  the rights to the GETH Process for a period of 20 (twenty) years effective the date of signature by both parties. The parties agree to negotiate in good faith for a renewal of an additional 20 (twenty) years by specific territory and the specific implementation of the GETH process.

-1-

Prohibitions:

Black Lion agrees that they will not be involved with a similar system or a similar function of, otherwise compete, or interfere with the conversion of plastic and rubber to oil.

Either directly or indirectly;

a)

Seek customers for any finished products of the GETH Process outside the defined territory, as set forth in Exhibit B.

b)

Establish any brand or distribution of product for sale outside of the territory.

c)

Sell or supply any products to persons outside the defined territory or to persons who, so far as Black Lion ought to be aware, will sell the product outside the territory.

d)

Register or attempt to register any Intellectual property rights of GETH or use any name or trademark of GETH except as explicitly permitted by GETH.

e)

At any time after  making the Agreement divulge confidential information in relation to the business of GETH or the composition or method of production of the GETH Process except and in so far as is essential to the employees of Black Lion  within its territory.

-2-

Termination;

GETH shall have the right by giving written notice to  Black Lion  to terminate the Agreement on the occurrence of any of the following events if:

a)

Black Lion fails to comply with the material targets requirements as set forth in Exhibit C.

b)

If Black Lion ceases to do business, becomes unable to pay its debts or is deemed insolvent.

Governing Law;

This agreement will be governed as to validity, interpretation and construction by the laws of the State of California. The parties agree that any legal action on proceedings arising out or relating to this agreement shall be brought in the courts of the State of California.

Representations;

The parties each respectively represent and warrant that they have full right power and authority to enter into the agreement and perform all of its obligations hereto.

Validity;

In case any term of this Agreement is held invalid, illegal or unenforceable, in whole or in part, the validity of any other terms of this agreement will not in any way be affected thereby.

Counterparts;

This Agreement may be executed in counterparts and each of such counterparts will be deemed an original.

-3-

Notice;

All notices will be in writing and will be confirmed to who it is addressed at the following addresses:

Green EnviroTech Holdings, Corp.

Gary M. De Laurentiis

P.O. Box 692

Riverbank, CA 95627

Office - 209-881-3523

Black Lion Oil Limited

Michael S Riley

92/93 St. Stephens Green

Dublin, D2 Ireland 353-1669-7670

Corporate Registration # 528 354

-4-

Agreed between the parties on this  1st  day of  June 201

_________________________________

Gary M. De Laurentiis

CEO

Green  EnviroTech  Holdings, Corp.

________________________________

Michael S Riley

Managing Director

Black Lion Oil Limited.

-5-

Exhibit A

Green EnviroTech Holdings, Corp.

Twin Reactor Pyrolysis Converting System (GETH Process)

Process description over view:

The tires and plastic to oil process is composed of a combination of three processes that have been placed in line so that they operate as one complete system. These processes will be further described throughout the narrative. The first system is the Pyrolysis Induction system. This converts tire and plastic feedstock into sweet crude oil. The second system is what is called a secondary distillation process. This equipment is directly hooked up to the Pyrolysis converter and flows oil into a secondary reactor, then through the distillation process to further refine the oil. This is accomplished by running the oil through a secondary heat signature. The last piece of equipment is the Catalyst filtration system. The oil is directly hooked up to this system; the oil is re-heated to 500 deg F and is then processed through a catalyst media that removes any residual organic chloride. From here the oil is moved into the finished product storage vessels.

Pyrolysis System

Equipment Description:

The Twin Reactor system consists of two rotational reactor chambers that are operated via an Electrical Heated Induction process. Each reactor is operated independently. The system is controlled by a semi-computerized process controller that monitors heat at three different zones on the reactor. As the feed stock material temperature rises it turns into a vaporous gas, which in turn moves through a separation chamber. At the separation chamber there are four specific activities that take place. The first stage of feed stock vaporization. This takes place around 700 deg F. Oil that is heavier than air is released to a contained reservoir that stores the heavy oil; the second stage  “light oil” is fully vaporized and is moved to the condensing vessels where it turns into light sweet crude oil. The third and last by product that is emitted from the separator is carbon black that is released through a valve gate at the bottom of the separator. The carbon black goes into a contained storage vessel, which is sealed so that the carbon black is fully captured without it becoming air borne. Once the gases are fully vaporized and condensed into oil it is move onto the main storage vessel. The last by product is residual gases that are processed through a filtration process to clean in residual carbon; the gas is then compressed into LPG storage vessels.The entire process is a closed loop system that contains and processes vapor’s and gases throughout the entire process. At no time are there any gases or vapors emitted into the atmosphere. The reactor chamber hatch is closed and sealed throughout the entire process cycle; it is only opened once all of the vapors and gases have been evacuated from the reactor chamber. There is a main check valve in place between the reactor and the separator that prevents any gases or vapors from flowing back into the reactor chamber. All the by-products are separated into their own specific storage vessels until they are shipped. All products will be shipped by certified transporters. The transporters have all the necessary pumps and valve systems to eliminate any vapors or emissions from being released into the atmosphere during tanker loading process.

-6-

Reactor heating:

The reactor is heated by an Electrical Induction Heating generator that is powered by 360V 600amp 3 Phase power supply. By using an electrical induction heating source there are no any residual vapors being emitted into the atmosphere.

Cooling System:

The Induction Heating Generator and distillation system is cooled by a water cooling system. This system may be one of two types of systems. It can be a water evaporation system (tower system), or a chilled water system. In either case both systems are closed loop and have no direct contact with vaporized oil, or it’s by products.

Handling of finished product and -by products:

There are three specific by products in the processing of used tires, and or plastic feed stock. The first is feed stock being heated to a point where the gases vaporize, and then subsequently distilled into oil. The second is char or carbon- this is the residual of the feedstock that remains and is not converted to oil. The third are the vaporized gases that are not distilled and processed through the oil distillation process. The “Syn-gas” passes through the gas scrubbers and is converted to LPG. The fourth (with tire feed stock) is steel that is left in the reactor chamber after the entire process completes its full cycle. The oil is processed through the distillation process that is totally self-contained in a closed loop system without any outlets that would allow escape of vapors or gases to the atmosphere. The Syn-gas is also a closed loop process without any outlets that would allow gases to escape to the atmosphere.

-7-

Containment of gases, or vapors;

There are two key valves that contain any possible escape of gases and or vapors. The first valve is between the reactor outlet tube and the vapor / gas separator. This valve is opened when the feed stock is in a vapor or gas flux, and then closed once the cycle is completed and all residual gases are evacuated from the reactor chamber( this is accomplished by injecting a nitrogen purge into the reactor), at which time the door to the chamber can be opened. The nitrogen is passed all the way through the Syn gas filters. The second valve is located at the outlet of the oil-shippingreservoir. This valve is closed at all times unless oil is being pumped into a rail car or tanker trailer. Both of these valves are EPA approved valves that ensure integrity of not allowing gases or vapors to escape.

Syn Gas production;

Syn gas is one of the by-products of the Pyrolysis process. The “Syn Gas” is processed through a series of activated charcoal filters. The filters remove any residual impurities before the gas is compressed into the storage vessel. These charcoal filters that are changed annually. Once the Syn gas passes through the filtration process it then moves through a compression system that converts it into LPG and is stored in a pressurized storage container rated for LPG storage until it is transferred to a transportation vehicle for resale.

System Preventative Maintenance (PM)

There are some very specific PM that most take place. Some of these PM’s vary from daily activities to monthly or quarterly activities. These are all conducted per the equipment's PM manual. The key PM is the cleaning of the reactor internal walls. This is done once a month. The task requirement is to remove any residual carbon that is attached to the reactor walls which is scraped off with a wire brush or spatula. The residual carbon is left in the reactor where it is processed out as carbon on the subsequent production cycle. The other key PM is the cleaning of the distillation chambers. The method here is to unbolt the top cover and to use the provided bristle brush and to remove any build up from inside the distillation tubes and then to swab them with clean rags. This process is repeated for the cooling tubes in the condenser. Any used rags are placed in a storage container and removed by a certified company. Cooling system is checked daily to ensure that the proper Ph levels are maintained to ensure that no algae is formed in the water or in the reservoir walls

Air Quality;

Air quality is monitored via a gas analyzer to ensure that there are not any potential gas leaks. The air sampling will be conducted as per established air quality monitoring procedure outlined in the air sampling process. All air-sampling records will be maintained as prescribed in air quality procedure. In addition, subject to review by the corporate air quality officer, and or air quality agency. All issues will be addressed, and corrective action handled as per the corporate air quality procedure.

-8-

Conclusion;

The construction of the entire Pyolysis conversion system is designed to be operated so that at no time during the operation the system will allow any vapors, gases, or odors be emitted to the atmosphere. All lead process operators are trained and certified on the proper and safe operation of all process equipment. At no time will any EPA emission guideline be violated or permitted to be violated.

Equipment Hardware;

All motors, temperature controllers, timers, and switches are CE certified. All pressure vessels are ASTM rated and have been pressure tested to a proof pressure as per ASTM requirements. Flanges and valves meet ASTM standards.

Secondary Distillation Systems;

Secondary Distillation System is a similar Electrical heating induction system as the Pyrolysis Reactor system. The Secondary distillation system is used to further refine the sweet crude oil by processing it through a secondary heating process. Its operating temperature is at 500 deg F. The key to the secondary distillation is that it reduces the Iron and Organic Chloride levels to an acceptable level. The iron and organics remain in the distillation tubes. As with the Pyrolysis system there is a small percentage of syn gas that is produced and is processed into LPG.

System PM’s;

PM is conducted as prescribed by the manufacture. Reactor and distillation vessels are cleaned by utilizing prescribed bristle brushes and swabbing towels. Residual material build up from distillation vessels are mainly deposits left from water build up in the cooling tubes and oil film left on the sidewalls of the distillation tubes. Spent cleaning materials are stored in drums and disposed of by certified safety disposal companies. Charcoal filters for the syn gas system are replaced once a year. Spent charcoal is placed into 55-gallon drums and taken away by a certified safety disposal company.

Air Quality;

The secondary distillation system is a closed loop system. The entire system has been tested for any emission leaks and no emission leaks were found.

-9-

Catalyst Filtration System;

The catalyst chloride removal filtration system is specifically designed to remove residual organic chloride. The system is a closed loop system that has zero emissions. Oil at the inlet is heated to 500 deg F; it enters the first vessel at 50-psi, passes over the media that is the absorbent that removes the organic chloride. The oil passes through a second media vessel that removes additional organic chloride. At the outlet the organic chloride level is less the 2.5 ppm.

System PM;

The Catalyst Filtration System has weekly and monthly PM as prescribed by the manufacturer. The absorbent media must be replaced once a year as prescribed by the manufacture of the media. The spent media is removed and placed into 55-gallon drums and taken away by a certified Safety disposal company.

Attachments;

a)

Process flow diagram

b)

Equipment layout

-10-

Exhibit B – Territories

Region 1

European Union                                                                    

Austria

Belgium

Bulgaria

Cyprus

Czech Republic

Denmark

Estonia

Finland

*France

*Germany

Greece

Hungary

*Ireland

Italy

Latvia

Lithuania

Luxembourg

Malta

Netherlands

Poland

Portugal

Romania

Slovakia

Slovenia

Spain

Sweden

*United Kingdom

-11--

Region 2

Middle East

*Egypt

*Turkey

*Iraq

*Saudi Arabia

*Jordan

*UAE

*Kuwait

Exhibit B – Territories

Region 3

South America

Colombia

*Brazil

Argentina

Venezuela

Peru

Chile

Ecuador

Bolivia

Paraguay

Uruguay

Guyana

Suriname

French Guiana

Falkland Islands

-12-

Region 4

Central America

Belize

Costa Rica

El Salvador

Guatemala

Honduras

Nicaragua

Panama

Region 5

*Mexico

Region 6

Canada

Region 7

South Africa

Region 8

*USVI

*These are the Initial Exclusive Territories subject to the Rights Agreement.  If, after 24 months from the date of the execution of the Rights Agreement, certain performance criteria is met, which shall be agreed upon in advance the management, the next block of Territories can be approved (“Secondary Exclusive Territories”  The parties will then agree upon performance criteria for those SecondaryTerritories, and if met, the remaining Territories will become subject to the Rights Agreement.

-13-

Region 1	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6
Austria					1
Belgium				1
Bulgaria			1
Cyprus
Czech Republic						1
Denmark						1
Estonia
Finland						1
France		1		1
Germany		1		1		1
Greece			1
Hungary						1
Ireland	1
Italy			1	1	1
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Poland			1
Portugal					1
Romania
Slovakia			1
Slovenia			1
Spain		1
Sweden					1
United Kingdom		1	1
Total	1	4	7	4	4	5
Cumulative Total		5	12	16	20	25

-14-

Region 2	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6
Egypt		1
Turkey		1		1		1

Iraq			1
Saudi Arabia					1
Jordan				1
UAE		1
Kuwait				1
Total	0	3	1	3	1	1
Cumulative Total		3	4	7	8	9

-15-

Region 3		Year 1		Year 2		Year 3		Year 4		Year 5
Brazil				1
Colombia						1
Argentina						1
Venezuela								1
Peru										1
Chile										1
Ecuador
Bolivia
Paraguay				1				1
Uruguay				1				1
Guyana						1
Suriname
French Guiana				1
Falkland Islands (UK)						1		1		1
Total		0		4		4		4		3
Cumulative Total				4		8		12		15
	Regions 4,5,6,7,8		Year 1		Year 2		Year 3		Year 4		Year 5	Year 6
	Region 4
	Belize										1
	Costa Rica								1
	El Salvador						1
	Guatemala
	Honduras

Nicaragua
Panama						1
Region 5
Mexico		1	1	1	1
Region 6
Canada		1		1	1
Region 7
South Africa			1			1
Region 8
USVI		1
Total	0	3	2	2	2	1
Cumulative Total		3	5	7	9	10

-16-

EX-31

EXHIBIT 31.1

CERTIFICATION

I, Gary M. De Laurentiis, certify that:

1.    I have reviewed this annual report on Form 10-K of Green EnviroTech Holdings Corp.;

2.    Based on my knowledge, this 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 report;

3.    Based on my knowledge, the financial statements, and other financial information included in this 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 report;

4.    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control 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 our 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 report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our 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 control and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

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 (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

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

March 31, 2014	/s/ Gary M. De Laurentiis
	Gary M. De Laurentiis
	Chief Executive Officer (principal executive officer and principal financial officer)

EX-32

EXHIBIT 32.1

CERTIFICATION 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 Annual Report of Green EnviroTech Holdings Corp. (the "Company") on Form 10-K for the fiscal year ended December 31, 2013 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Gary M. De Laurentiis, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 906 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 and Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

March 31, 2014	By:	/s/ Gary M. De Laurentiis
		Gary M. De Laurentiis Chief Executive Officer (principal executive officer and principal financial officer)

XML

STOCKHOLDERS' EQUITY (DEFICIT) (Warrants) (Details) (USD $)	1 Months Ended	12 Months Ended
	Feb. 28, 2012	Dec. 31, 2013	Dec. 31, 2012	Feb. 02, 2012
STOCKHOLDERS' EQUITY (DEFICIT) [Abstract]
Total unrecognized compensation expense related to nonvested share-based compensation arrangements
Pricing model used in calculation of fair value		Black-Scholes
Warrants [Member]
Share Based Compensation Arrangement By Share Based Payment Award Line Items
Number of warrants issued	100,000
Warrant term	5 years
Exercise price of warrants				0.10
Value of warrants				2,998
Number of shares covered by warrants				1,000
Value per unit	$ 10.00
Weighted average remaining life of outstanding common stock warrants		9 months 22 days	1 year 9 months 22 days
Intrinsic value

XML

STOCKHOLDERS' EQUITY (DEFICIT)

12 Months Ended

Dec. 31, 2013

STOCKHOLDERS' EQUITY (DEFICIT) [Abstract]

STOCKHOLDERS' EQUITY (DEFICIT)

NOTE 3-STOCKHOLDERS' EQUITY (DEFICIT)

Preferred Stock

The Company has 25,000,000 preferred shares of $0.001 par value stock authorized. The Company has no preferred stock issued and outstanding.

Common Stock

The Company has 250,000,000 common shares of $0.001 par value stock authorized.  On December 31, 2013, the Company had 5,904,688 common shares outstanding.

Effective March 27, 2013, the Company effected a 100-for-1 reverse split of its common stock.  The financial statements were adjusted to reflect the reverse stock split for all periods as of the first day of the first period presented.

Warrants

The Company used the Black-Scholes option pricing model in valuing options and warrants. The inputs for the valuation analysis of the options and warrants include the market value of the Company's common stock, the estimated volatility of the Company's common stock, the exercise price and the risk free interest rate. As of December 31, 2013 total unrecognized compensation expense related to nonvested share-based compensation arrangements was $0.

The key inputs in determining grant date fair value are as follows:

	Period     Ended December 31,
		2012
Risk-free interest rate		-1.18%
Dividend yield		0.00%
Expected volatility		374.53%
Expected term (in years)		5.0
Weighted average grant date fair value of warrants granted during the period		$0.10

On February 2, 2012, the Company issued 100,000 warrants to debtholders as an incentive for the extension of the maturity date on the notes to September 24, 2012. These warrants are exercisable for five years at an exercise price of $0.10. Their fair value was $2,998 which was expensed in 2012.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,000 common shares at a price of $10.00 per share.

The following table presents the warrant activity during 2013 and 2012:

			Weighted
			Average
		Warrants	Exercise Price
Outstanding - December 31, 2011		18,519	$5.10
	Granted	1,000	$10
	Forfeited/canceled	-	-
	Exercised	-	-
Outstanding - December 31, 2012		19,519	$5.64
Granted		-
Forfeited/canceled		-
Exercised		-
Outstanding- December 31, 2013		19,519	$5.64
Exercisable - December 31, 2013		19,519	$5.64

The weighted average remaining life of the outstanding common stock warrants as of December 31, 2013 and 2012 was 0.81 and 1.81 years. The aggregate intrinsic value of the outstanding common stock warrants as of December 31, 2013 and 2012 was $0 for both years.

During the year ended December 31, 2012:

-

the Company issued 23,000 common shares for services valued at $66,700

-

the Company converted $421,500 of notes payable into 412,252 common shares.

-

the Company issued 200,000 shares valued at $240,000 to its President for accrued salary

-

the Company issued 10,001 common shares in consideration for the extension of maturity dates on notes payable valued at $30,000 which was expensed. The Company also issued 100,000 warrants as sweetener for the extension of the maturity dates. The warrants were valued at $2,998.

-

the Company sold 150,000 common shares for cash proceeds of $150,000

-

the Company recognized a loss on conversion of $447,446

During the year ended December 31, 2013:

-

the Company issued 1,047,864 common shares for services valued at $1,221,360. Of this amount, 42,000 shares were for related parties valued at $69,960

-

the Company issued 1,606,251 common shares to convert $682,250 of principal and $119,324 of interest on notes payable into equity.  

-

the Company issued 216,198 shares valued at $216,198 to its President for accrued salary and the Company issued 260,000 common shares valued at $82,200 for accrued salary of employees

-

the Company issued 151,757 common shares to convert $73,468 of accounts payable

-

the Company sold 63,000 common shares for cash proceeds of $63,000

-

the Company issued 60,000 shares as a sweetener for a debt holder valued at $64,286. The relative fair value was recorded as a discount to the note and was fully amortized during the year.

-

the Company issued 33 common shares to replace fractional shares as a result of the 100 for 1 reverse stock split dated March 27, 2013

-

the Company recognized a loss on conversion of debt, accrued salaries, and accounts payable of $2,360,727

XML

SECURED DEBENTURES (Details) (USD $)	1 Months Ended		12 Months Ended			63 Months Ended	1 Months Ended		1 Months Ended		12 Months Ended		1 Months Ended					12 Months Ended			1 Months Ended
	Feb. 28, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Feb. 28, 2012 Warrants [Member]	Feb. 02, 2012 Warrants [Member]	Jan. 31, 2011 Debt Holders [Member]	Feb. 28, 2012 Common Stock [Member]	Dec. 31, 2012 Common Stock [Member]	Dec. 31, 2011 Common Stock [Member]	Mar. 31, 2013 Secured Debentures [Member]	Apr. 30, 2012 Secured Debentures [Member]	Dec. 31, 2011 Secured Debentures [Member]	Jul. 31, 2011 Secured Debentures [Member]	Jan. 31, 2011 Secured Debentures [Member]	Dec. 31, 2013 Secured Debentures [Member]	Mar. 27, 2013 Secured Debentures [Member]	Jan. 24, 2011 Secured Debentures [Member]	Mar. 31, 2013 Secured Debentures [Member] Warrants [Member]	Jan. 31, 2011 Secured Debentures [Member] Warrants [Member]	Mar. 27, 2013 Secured Debentures [Member] Warrants [Member]	Jan. 24, 2011 Secured Debentures [Member] Warrants [Member]
Debt Instrument [Line Items]
Amount of debt																				$ 380,000
Interest rate																		12.00%		12.00%
Commission paid																	45,600
Number of warrants issued							100,000										19,000
Number of shares covered by warrants								1,000											190				1,900	190,000
Warrant term							5 years															5 years
Exercise price of warrants								0.10												0.40				0.40
Value per unit							$ 10.00						$ 40								$ 40
Gross proceeds from subsequent financings																	1,000,000
Debt discount																				123,120
Common shares issued for debt extensions, shares				10,001						10,001	10,001	3,800				380,000
Common shares issued for debt extensions	30,000			30,000	1,900						10	4				38,000
Value of warrants issued to investors									141,362
Value of warrants								2,998
Expense recorded			1,221,360	66,700		3,946,209
Cash outflow resulting in increase in Other Assets		(75,000)	5,335	(70,216)		272,009								75,000	75,000
Secured debentures payable		380,000	305,000	305,000	380,000	305,000
Interest expense			122,514	122,297		439,679												37,108
Accrued Interest																		$ 125,793
Stock split ratio			100
Pricing model used in calculation of fair value			Black-Scholes

XML

LOAN PAYABLE - OTHER (Details) (USD $)	12 Months Ended				63 Months Ended	12 Months Ended			1 Months Ended					1 Months Ended	12 Months Ended		1 Months Ended			1 Months Ended		12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2013	Dec. 31, 2013 Principal Portion Of Debt Conversion [Member]	Dec. 31, 2012 Principal Portion Of Debt Conversion [Member]	Dec. 31, 2013 Interest Portion Of Debt Conversion [Member]	Apr. 30, 2011 Promissory Note to Individual One [Member]	Aug. 31, 2010 Promissory Note to Individual One [Member]	Dec. 31, 2013 Promissory Note to Individual One [Member]	Dec. 31, 2012 Promissory Note to Individual One [Member]	Feb. 25, 2010 Promissory Note to Individual One [Member]	Nov. 30, 2012 Promissory Note to Individual Two [Member]	Dec. 31, 2013 Promissory Note to Individual Two [Member]	Nov. 15, 2012 Promissory Note to Individual Two [Member]	Mar. 31, 2013 Promissory Note to Individual Three [Member]	Dec. 31, 2013 Promissory Note to Individual Three [Member]	Mar. 19, 2013 Promissory Note to Individual Three [Member]	Oct. 31, 2013 Promissory Note to Attorney [Member]	Dec. 31, 2013 Promissory Note to Attorney [Member]	Dec. 31, 2013 Loans Payable [Member]	Dec. 31, 2012 Loans Payable [Member]
Short-term Debt [Line Items]
Interest rate												12.00%	10.00%			8.00%			8.00%	8.00%		8.00%
Maturity date														Nov. 16, 2013	Nov. 15, 2014		Mar. 18, 2014			Sep. 30, 2014		Dec. 31, 2014
Accrued Interest											$ 4,057	$ 3,157			$ 15,314			$ 4,356			$ 3,454	$ 50,473
Conversion of notes payable and liabilities to common stock	801,574	421,500	563,400	1,006,488		682,250	387,000	119,324
Conversion of notes payable and liabilities to common stock, shares	1,606,251	412,252					349,333
Loss on debt conversion	(2,139,064)	(437,750)
Beginning Balance											7,500	7,500						150,000			171,300	663,250	769,750
Proceeds																						464,400	450,500
Consulting fees & liabilities																						136,172
Joint Venture Investment paid direct																						125,000
Repayment to related party																						4,700
Allocation Green Power Energy																						(100,000)
Repayments									(2,500)	(10,000)													(170,000)
Non-cash conversion	(801,574)	(421,500)			(2,535,612)																	(676,750)	(387,000)
Ending Balance											7,500	7,500			170,000			150,000			171,300	616,772	663,250
Amount of debt													$ 20,000			$ 170,000			$ 150,000	$ 171,300

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PROVISION FOR INCOME TAXES (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Deferred Tax Assets:
NOL Carryover	$ 3,024,158	$ 2,439,144
Valuation allowance	(3,024,158)	(2,439,144)
Deferred tax assets
Net operating loss carry-forwards	$ 8,900,000
Expiration of net operating loss carry-forwards	Dec. 31, 2033

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COMMITMENTS (Details) (USD $)	12 Months Ended
	Dec. 31, 2013
COMMITMENTS [Abstract]
Fee owed from Black Lion under joint venture agreement	$ 100,000
Royalty percentage owed from Black Lion under joint venture agreement	10.00%
The monthly lease payment owed for office space in year one	3,300
The monthly lease payment owed for office space in year two	3,738
The monthly lease payment owed for office space in year three	$ 3,841

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its interest in a joint venture which had no operations for the year. Intercompany balances and transactions have been eliminated for this joint venture.  

Development Stage Company

The Company is considered to be in the development stage as defined in ASC 915, "Accounting and Reporting by Development Stage Enterprises". The Company has devoted substantially all of its efforts to the corporate formation and the raising of capital.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents.

The Company maintains cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation.  

Fixed Assets

Fixed assets are stated at cost, less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the related assets. Costs of maintenance and repairs will be charged to expense as incurred. The Company through December 31, 2013, incurred some engineering and design costs on a facility they are planning to build or purchase to refurbish. All of these costs are non-depreciable until the facility is in service.

Recoverability of Long-Lived Assets

The Company reviews long-lived assets on a periodic basis whenever events and changes in circumstances have occurred which may indicate a possible impairment. The assessment for potential impairment will be based primarily on the Company's ability to recover the carrying value of its long-lived assets from expected future cash flows from its operations on an undiscounted basis.

If such assets are determined to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the fair value of the assets. Fixed assets to be disposed of by sale will be carried at the lower of the then current carrying value or fair value less estimated costs to sell.

Income Taxes

The Company accounts for income taxes utilizing the liability method of accounting.  Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse.  Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized.

 (Loss) Per Share of Common Stock

Basic net loss per common share is computed using the weighted average number of common shares outstanding.  Diluted earnings per share (EPS) include additional dilution from common stock equivalents, such as stock issuable pursuant to the exercise of stock options and warrants.  Common stock equivalents are not included in the computation of diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive for periods presented.

Intangible Assets

ASC 350 requires that intangible assets with finite useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC 360, "Accounting for the Impairment or Disposal of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of."  The Company's assessment for impairment of assets involves estimating the undiscounted cash flows expected to result from use of the asset and its eventual disposition. An impairment loss recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset, and considers year-end the date for its annual impairment testing, unless information during the year becomes available that requires an earlier evaluation of impairment testing.  

Stock-Based Awards  

The Company measures the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the grant-date fair value of the award and recognizes it as compensation expense over the period the employee is required to provide service in exchange for the award, usually the vesting period. The Company estimates the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company's statement of operations.  The forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the fiscal periods ended December 31, 2013 and 2012, the Company's estimated forfeiture rate is 0% based on the Company's historical experience. There were 0 stock options granted to employees during the years ended December 31, 2013 and 2012.

During the fiscal periods ended December 31, 2013 and 2012, the Company granted common stock warrants to investors, lenders and certain officers as discussed in Note 3. The fair value of stock warrants issued in conjunction with the issuance of common stock is recorded against common stock as stock issuance cost. The fair value of stock warrants issued in conjunction with notes payable is recognized as a discount on the related debt and amortized to interest expense over the term to maturity.

The fair value of stock-based awards to employees and directors is calculated using the Black-Scholes-Merton pricing model.  The Black-Scholes-Merton model requires subjective assumptions regarding future stock price volatility and expected time to exercise, which greatly affect the calculated values.  The expected term of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior.  The risk-free rate selected to value any particular grant is based on the U.S. Treasury rate that corresponds to the pricing term of the grant effective as of the date of the grant.  The expected volatility is based on the historical volatility of the common stock of comparable publicly traded companies.  In making this determination and finding another similar company, the Company considered the industry, stage of life cycle, size and financial leverage of such other entities.  These factors could change in the future, affecting the determination of stock-based compensation expense in future periods.

Fair Value Measurements

The Company adopted certain provisions of ASC Topic 820. ASC 820 defines fair value, provides a consistent framework for measuring fair value under generally accepted accounting principles and expands fair value financial statement disclosure requirements. ASC 820's valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. ASC 820 classifies these inputs into the following hierarchy:

Level 1 inputs: Quoted prices for identical instruments in active markets.

Level 2 inputs: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

Level 3 inputs: Instruments with primarily unobservable value drivers.

Recent Issued Accounting Standards

There were updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on the Company's financial position, results of operations or cash flows.

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JOINT VENTURE AGREEMENT WITH PETROSONICS, LLC. AND ITS TERMINATION (Details) (Petrosonics, LLC [Member], USD $)	3 Months Ended	12 Months Ended
	Sep. 03, 2013	Dec. 31, 2013	May 27, 2013
Petrosonics, LLC [Member]
Schedule of Equity Method Investments [Line Items]
The total amount the company agreed to contribute to the joint venture before agreement was terminated			$ 14,000,000
The total amount the company agreed to contribute within 30 days of execution of the Joint Venture Agreement			2,000,000
The total amount the company agreed to contribute within 180 days of executionof the Joint Venture Agreement			12,000,000
Ownership interest in joint venture			51.00%
Effective date of termination of joint venture		Sep. 03, 2013
Capital contributed to joint venture before termination	$ 318,000

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CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash	$ 185	$ 1,986
Other current assets	10,119	4,784
Total current assets	10,304	6,770
Fixed Assets
Plant Equipment, not yet placed in service		125,000
Total fixed assets		125,000
Other Assets:
Engineering Costs	30,833
Total other assets	30,833
TOTAL ASSETS	41,137	131,770
CURRENT LIABILITIES
Accounts payable	686,538	749,144
Accounts payable- related party		4,975
Accrued expenses	3,119,084	2,513,872
Secured debentures payable	305,000	305,000
Loan payable - other	1,115,572	840,750
Loan payable - related party	12,287	44,187
Total current liabilities	5,238,481	4,457,928
TOTAL LIABILITIES	5,238,481	4,457,928
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.001 par value, 25,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 250,000,000 shares authorized, 5,904,688 and 2,499,585 shares issued and outstanding	5,905	2,500
Additional paid in capital	11,009,932	6,130,525
Deficit accumulated during development stage	(16,213,181)	(10,459,183)
Total stockholders' equity (deficit)	(5,197,344)	(4,326,158)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 41,137	$ 131,770

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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (USD $)	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Deficit Accumulated During the Development Stage [Member]
Balance at Jun. 25, 2007
Balance, shares at Jun. 25, 2007
Common shares issued for cash	15,000		450	14,550
Common shares issued for cash, shares			449,999
Net (loss)	(9,105)				(9,105)
Balance at Dec. 31, 2007	5,895		450	14,550	(9,105)
Balance, shares at Dec. 31, 2007			449,999
Common shares issued for cash	25,000		150	24,850
Common shares issued for cash, shares			150,000
Net (loss)	(19,608)				(19,608)
Balance at Dec. 31, 2008	11,287		600	39,400	(28,713)
Balance, shares at Dec. 31, 2008			599,999
Net (loss)	(9,845)				(9,845)
Balance at Nov. 20, 2009
Net effect of recapitalization with GreenEnviroTech Corp. including repurchase and subsequent cancellation of shares and issuance of new shares	(518,552)			(208,202)	(310,350)
To reclassify negative paid in capital to retained earnings				228,202	(228,202)
Net (loss)	(347,179)				(347,179)
Balance at Dec. 31, 2009	(864,289)		600	59,400	(924,289)
Balance, shares at Dec. 31, 2009			599,999
Common shares issued to consultants and officers	2,127,782		25	2,127,757
Common shares issued to consultants and officers, shares			25,104
Conversion of notes payable and liabilities to common stock	1,006,488		10	1,006,478
Conversion of notes payable and liabilities to common stock, shares			10,065
Net (loss)	(3,261,492)				(3,261,492)
Balance at Dec. 31, 2010	(991,511)		635	3,193,625	(4,185,781)
Balance, shares at Dec. 31, 2010			635,168
Issued Preferred Stock in purchase Magic Bright	5,000,000			4,999,000
Issued Common Stock in purchase of Magic Bright	104,880	1,000	2	104,878
Issued stock in purchase of Magic Bright, shares		1,000,000	1,840
Acquisition Reserve in purchase Magic Bright	(5,000,000)	(1,000)		(4,999,000)
Acquisition Reserve in purchase Magic Bright, shares		(1,000,000)
Common shares issued to consultants and officers	472,132		2	471,861
Common shares issued to consultants and officers, shares			1,840
Common shares issued for cash	50,000		3	49,997
Common shares issued for cash, shares			3,333
Common shares issued for debt extensions	1,900		4	1,896
Common shares issued for debt extensions, shares			3,800
Conversion of notes payable and liabilities to common stock	563,400		789	562,611
Conversion of notes payable and liabilities to common stock, shares			789,000
Warrants issued to secured debenture holders	123,120			123,120
Warrants issued to brokers	18,242			18,242
Warrants issued to consultants for fees	12,080			12,080
Warrants issued to Officers	234,357			234,357
Net (loss)	(2,783,068)				(2,783,068)
Balance at Dec. 31, 2011	(2,194,468)		1,704	4,772,677	(6,968,849)
Balance, shares at Dec. 31, 2011			1,704,332
Common shares issued for services	66,700		23	66,677
Common shares issued for services, shares	23,000		23,000
Conversion of accrued salary to common shares	240,000		200	239,800
Conversion of accrued salary to common shares, shares	200,000		200,000
Common shares issued for cash	150,000		150	149,850
Common shares issued for cash, shares			150,000
Common shares issued for debt extensions	30,000		10	29,990
Common shares issued for debt extensions, shares	10,001		10,001
Conversion of notes payable and liabilities to common stock	421,500		413	421,087
Conversion of notes payable and liabilities to common stock, shares	412,252		412,252
Warrants issued to secured debenture holders	2,998			2,998
Loss on debt conversion	447,446			447,446
Net (loss)	(3,490,334)				(3,490,334)
Balance at Dec. 31, 2012	(4,326,158)		2,500	6,130,525	(10,459,183)
Balance, shares at Dec. 31, 2012			2,499,585
Common shares issued for services	1,221,360		1,048	1,220,312
Common shares issued for services, shares	1,047,864		1,047,864
Common shares issued for fractional shares resulting from 1 for 100 reverse stock split effective March 27, 2013	33		33
Conversion of accrued salary to common shares	298,398		476	297,922
Conversion of accrued salary to common shares, shares			476,198
Conversion of accounts payable to common shares	73,468		152	73,316
Conversion of accounts payable to common shares, shares	151,757		151,757
Common shares issued for cash	63,000		63	62,937
Common shares issued for cash, shares			63,000
Conversion of notes payable and liabilities to common stock	801,574		1,606	799,968
Conversion of notes payable and liabilities to common stock, shares	1,606,251		1,606,251
Common shares issued as sweeteners for debt	64,286		60	64,226
Common shares issued as sweeteners for debt, shares	60,000		60,000
Loss on debt conversion	2,360,727			2,360,727
Net (loss)	(5,753,998)				(5,753,998)
Balance at Dec. 31, 2013	$ (5,197,344)		$ 5,905	$ 11,009,932	$ (16,213,181)
Balance, shares at Dec. 31, 2013			5,904,688

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Stock Options [Member]
Stock-based Compensation
Stock options granted
Warrants [Member]
Stock-based Compensation
Stock options granted		1,000

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STOCKHOLDERS' EQUITY (DEFICIT) (Schedule of Assumptions Used) (Details) (Warrants [Member], USD $)	12 Months Ended
	Dec. 31, 2012
Warrants [Member]
The following are the data and assumptions used:
Risk-free interest rate	(1.18%)
Dividend yield	0.00%
Expected volatility	374.53%
Expected term (in years)	5 years
Weighted average grant date fair value of warrants granted during the period	$ 0.10

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ORGANIZATION AND BASIS OF PRESENTATION

12 Months Ended

Dec. 31, 2013

ORGANIZATION AND BASIS OF PRESENTATION [Abstract]

ORGANIZATION AND BASIS OF PRESENTATION

NOTE 1-ORGANIZATION AND BASIS OF PRESENTATION

Green EnviroTech Holdings Corp. (the "Company") was incorporated on June 26, 2007 under the name Wolfe Creek Mining, Inc. under the laws of the State of Delaware. On November 20, 2009, the Company completed a reverse merger transaction pursuant to which it acquired Green EnviroTech Corp., a Nevada corporation.  Wolfe Creek Mining, Inc. up until November 20, 2009 was primarily engaged in the acquisition and exploration of mining properties.  Green EnviroTech Corp was incorporated on October 6, 2008 and was engaged in plastics recovery.  The financial statements included herein are the financials of Green EnviroTech Holdings and subsidiaries from October 6, 2008 to current.

Green EnviroTech Holdings Corp. is an innovative technology company that has developed a patent pending oil conversion process utilizing a mixture of plastic and tires. The "GETH Process" revolutionizes the disposal of plastic waste and tires and cleans up our landfills by producing a high grade of oil.

The proprietary conversion process uses established pyrolysis technology with additional distillation applications.  

Going Concern

These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business.

The Company has generated minimal revenues since inception and has generated losses since inception and needs to raise additional funds to carry out the business plan.

The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders and the ability of the Company to obtain necessary equity financing to continue and expand operations.

The Company has had very little operating history to date. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. These factors raise substantial doubt regarding the ability of the Company to continue as a going concern.

Besides generating revenues from proposed operations, the Company may need to raise additional funds to expand operations to the point at which the Company can achieve profitability. The terms of new debt or equity that may be raised may not be on terms acceptable by the Company. If the Company fails to raise adequate funds from unrelated third parties, the Company's officers and directors may need to contribute additional funds to sustain operations.

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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	5,904,688	2,499,585
Common stock, shares outstanding	5,904,688	2,499,585

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Principles of Consolidation

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its interest in a joint venture which had no operations for the year. Intercompany balances and transactions have been eliminated for this joint venture.  

Development Stage Company

Development Stage Company

The Company is considered to be in the development stage as defined in ASC 915, "Accounting and Reporting by Development Stage Enterprises". The Company has devoted substantially all of its efforts to the corporate formation and the raising of capital.

Use of Estimates

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents.

The Company maintains cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation.  

Fixed Assets

Fixed Assets

Fixed assets are stated at cost, less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the related assets. Costs of maintenance and repairs will be charged to expense as incurred. The Company through December 31, 2013, incurred some engineering and design costs on a facility they are planning to build or purchase to refurbish. All of these costs are non-depreciable until the facility is in service.

Recoverability of Long-Lived Assets

Recoverability of Long-Lived Assets

The Company reviews long-lived assets on a periodic basis whenever events and changes in circumstances have occurred which may indicate a possible impairment. The assessment for potential impairment will be based primarily on the Company's ability to recover the carrying value of its long-lived assets from expected future cash flows from its operations on an undiscounted basis.

If such assets are determined to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the fair value of the assets. Fixed assets to be disposed of by sale will be carried at the lower of the then current carrying value or fair value less estimated costs to sell.

Income Taxes

Income Taxes

The Company accounts for income taxes utilizing the liability method of accounting.  Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse.  Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized.

(Loss) Per Share of Common Stock

 (Loss) Per Share of Common Stock

Basic net loss per common share is computed using the weighted average number of common shares outstanding.  Diluted earnings per share (EPS) include additional dilution from common stock equivalents, such as stock issuable pursuant to the exercise of stock options and warrants.  Common stock equivalents are not included in the computation of diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive for periods presented.

Intangible Assets

Intangible Assets

ASC 350 requires that intangible assets with finite useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC 360, "Accounting for the Impairment or Disposal of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of."  The Company's assessment for impairment of assets involves estimating the undiscounted cash flows expected to result from use of the asset and its eventual disposition. An impairment loss recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset, and considers year-end the date for its annual impairment testing, unless information during the year becomes available that requires an earlier evaluation of impairment testing.  

Stock-Based Awards

Stock-Based Awards  

The Company measures the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the grant-date fair value of the award and recognizes it as compensation expense over the period the employee is required to provide service in exchange for the award, usually the vesting period. The Company estimates the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company's statement of operations.  The forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. For the fiscal periods ended December 31, 2013 and 2012, the Company's estimated forfeiture rate is 0% based on the Company's historical experience. There were 0 stock options granted to employees during the years ended December 31, 2013 and 2012.

During the fiscal periods ended December 31, 2013 and 2012, the Company granted common stock warrants to investors, lenders and certain officers as discussed in Note 3. The fair value of stock warrants issued in conjunction with the issuance of common stock is recorded against common stock as stock issuance cost. The fair value of stock warrants issued in conjunction with notes payable is recognized as a discount on the related debt and amortized to interest expense over the term to maturity.

The fair value of stock-based awards to employees and directors is calculated using the Black-Scholes-Merton pricing model.  The Black-Scholes-Merton model requires subjective assumptions regarding future stock price volatility and expected time to exercise, which greatly affect the calculated values.  The expected term of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior.  The risk-free rate selected to value any particular grant is based on the U.S. Treasury rate that corresponds to the pricing term of the grant effective as of the date of the grant.  The expected volatility is based on the historical volatility of the common stock of comparable publicly traded companies.  In making this determination and finding another similar company, the Company considered the industry, stage of life cycle, size and financial leverage of such other entities.  These factors could change in the future, affecting the determination of stock-based compensation expense in future periods.

Fair Value Measurements

Fair Value Measurements

The Company adopted certain provisions of ASC Topic 820. ASC 820 defines fair value, provides a consistent framework for measuring fair value under generally accepted accounting principles and expands fair value financial statement disclosure requirements. ASC 820's valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. ASC 820 classifies these inputs into the following hierarchy:

Level 1 inputs: Quoted prices for identical instruments in active markets.

Level 2 inputs: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

Level 3 inputs: Instruments with primarily unobservable value drivers.

Recent Issued Accounting Standards

Recent Issued Accounting Standards

There were updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on the Company's financial position, results of operations or cash flows.

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Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Mar. 31, 2014	Jun. 30, 2013
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2013
Entity Registrant Name	GREEN ENVIROTECH HOLDINGS CORP.
Entity Central Index Key	0001428765
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		8,093,017
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 4,113,571

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STOCKHOLDERS' EQUITY (DEFICIT) (Tables)

12 Months Ended

Dec. 31, 2013

STOCKHOLDERS' EQUITY (DEFICIT) [Abstract]

Schedule of Assumptions Used to Value Warrants

The key inputs in determining grant date fair value are as follows:

	Period     Ended December 31,
		2012
Risk-free interest rate		-1.18%
Dividend yield		0.00%
Expected volatility		374.53%
Expected term (in years)		5.0
Weighted average grant date fair value of warrants granted during the period		$0.10

Schedule of Warrants

The following table presents the warrant activity during 2013 and 2012:

			Weighted
			Average
		Warrants	Exercise Price
Outstanding - December 31, 2011		18,519	$5.10
	Granted	1,000	$10
	Forfeited/canceled	-	-
	Exercised	-	-
Outstanding - December 31, 2012		19,519	$5.64
Granted		-
Forfeited/canceled		-
Exercised		-
Outstanding- December 31, 2013		19,519	$5.64
Exercisable - December 31, 2013		19,519	$5.64

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended		63 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUE			$ 1,950
COST OF REVENUES			33,633
GROSS PROFIT			(31,683)
OPERATING EXPENSES
Wages and professional fees	2,658,238	2,538,199	10,159,688
Impairment expense	443,000	118,783	561,783
Bad debt expense		261,890	261,890
General and administrative	105,233	117,457	914,910
Total operating expenses	3,206,471	3,036,329	11,898,271
NON-OPERATING EXPENSES
Amortization of debt discount	64,286		187,406
Interest expense	122,514	122,297	439,679
Interest expense-Penalty			67,750
(Gain) or Loss on write-off of derivative liability		(115,738)	254,337
Loss on debt conversion	2,360,727	447,446	2,950,973
Total non-operating expenses	2,547,527	454,005	3,900,145
NET (LOSS) FROM CONTINUING OPERATIONS	(5,753,998)	(3,490,334)	(15,830,099)
OTHER INCOME:
Disposition of Riverbank Permits			250,000
Total Other Income			250,000
DISCONTINUED OPERATIONS:
(Loss) on disposal of discontinued operations			(429,066)
Income from discontinued operations			24,186
Total loss from discontinued operations			(404,880)
NET (LOSS)	$ (5,753,998)	$ (3,490,334)	$ (15,984,979)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	3,952,778	2,104,741
NET (LOSS) PER SHARE	$ (1.46)	$ (1.66)

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SECURED DEBENTURES

12 Months Ended

Dec. 31, 2013

SECURED DEBENTURES [Abstract]

SECURED DEBENTURES

NOTE 6-SECURED DEBENTURES

On January 24, 2011, the Company entered into a series of securities purchase agreements with accredited investors (the "Investors"), pursuant to which the Company sold an aggregate of $380,000 in 12% secured debentures (the "Debentures"). Legend Securities, Inc. a broker dealer which is a member of FINRA, received a commission of $45,600 and 19,000 warrants at an exercise price of $0.40 in connection with the sale of the Debentures. The Debentures were initially due at the earlier of 6 months from the date of issuance or upon the Company receiving gross proceeds from subsequent financings in the aggregate amount of $1,000,000. The Debentures bear interest at the rate of 12% per annum, payable upon maturity. The Debentures are secured by the assets of the Company pursuant to security agreements entered into between the Company and the Investors.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 190 common shares at a price of $40.00 per share.

On July 21, 2011, the Secured Debentures were extended an additional six months to a new maturity date of January 24, 2012.  All other original terms  remained the same.  The Company issued to the Investors an additional 380,000 shares of common stock in exchange for granting the extension.  These shares were valued at $38,000 on July 25, 2011, the first day of the extension.  This amount was treated as additional interest to the investors and was expensed.  The extension and modification to the Secured Debentures did not constitute a material modification under ASC 470-50. The Company issued the shares were to the Investors on December 7, 2011.

The Company also issued to the Investors on January 24, 2011 five-year warrants to purchase an aggregate of 190,000 shares of common stock at an exercise price of $0.40, which may be exercised on a cashless basis.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,900 common shares at a price of $40.00 per share.

The $380,000 in proceeds from the financing transaction was allocated to the debt features and the warrants based upon their fair values.  The value of the warrants ($123,120) was recorded as a debt discount on the secured debentures. This discount has been fully amortized as of December 31, 2011.  

The estimated fair value of the 190,000 warrants to the investors at issuance on January 24, 2011 was $141,362. The estimated fair value of the warrants was determined using the Black-Scholes option-pricing model and the assumptions described in Note 3.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,900 common shares at a price of $40.00 per share.

On February 2, 2012, the Company issued 10,001 shares of common stock valued at $30,000 to the Secured Debenture Holders for extending the maturity date of the debentures to September 24, 2012. The Company by direction of Legend Securities, Inc. also issued to the holders of the Secured Debentures five-year warrants to purchase 100,000 shares of common stock at an exercise price of $0.10 per share which said warrants were originally issued to certain employees of Legend Securities, Inc. per a previous Legend Agreement.  The warrants were issued to the holders of the Secured Debentures simultaneously with the issuance of the above mentioned stock and were valued at $2,998.  As a result of the 1 for 100 reverse common stock split on March 27, 2013, these warrants are exercisable for 1,000 common shares at a price of $10.00 per share.

On April 27, 2012, the debenture lien holders were paid $75,000 in the completion of the asset purchase agreement agreed to on December 15, 2011 for the sale of the Riverbank inventory and permits.  The $75,000 was carried on the books at December 31, 2011as Other Assets for the benefit of the debenture lien holders.  

The balance of these Debentures on December 31, 2013 was $305,000.  The interest for the year ended December 31, 2013 was $37,108 and accrued as of December 31, 2013 (12%) was $125,793.  These notes were in default at year end

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LOAN PAYABLE - OTHER

12 Months Ended

Dec. 31, 2013

LOAN PAYABLE - OTHER [Abstract]

LOAN PAYABLE - OTHER

NOTE 5-LOAN PAYABLE - OTHER

The Company at the beginning of the year had three unsecured loans with H. E. Capital, S. A.  These loans accrue interest at the rate of 8% per annum.  The due dates of the loans were extended to December 31, 2014.  Balance of the loans at December 31, 2013 was $616,772 with accrued interest in the amount of $50,473.  

In 2013, $682,250 of principal and $119,324 of accrued interest was converted into 1,606,251 shares of the Company's common stock which were issued to H. E. Capital, S. A.  The conversions occurred at conversion prices lower than the market price at the time resulting in a $2,139,064 loss on debt conversion.  Two of the above mentioned loans with H. E. Capital, S. A. were eliminated in the conversions.

In 2012, $387,000 of principal was converted into 349,333 shares of the Company's common stock. The conversions occurred at conversion prices lower than the market price at the time resulting in a $437,750 loss on debt conversion.

History of the H. E. Capital loans is as follows:

	December 31,	December 31,
	2013	2012
Beginning Balance	$663,250	$769,750
Proceeds	464,400	450,500
Consulting fees & liabilities	136,172	-
Joint Venture Investment paid direct	125,000	-
Repayment to related party	4,700	-
Allocation Green Power Energy	(100,000)
Repayments	-	(170,000)
Non-cash conversion	(676,750)	(387,000)
Ending Balance	$616,772	$663,250

The Company on February 25, 2010 issued a promissory note to an individual in the amount of $20,000 at 10% due on demand. This interest rate was increased to 12% beginning in 2012.  The Company repaid $10,000 of this note on August 10, 2010.  The Company also repaid $2,500 of this note on April 13, 2011.  As of December 31, 2013 and 2012 the loan has an outstanding balance of $7,500 each year and accrued interest in the amount of $4,057 and $3,157, respectively.

The Company issued a promissory note on November 15, 2012 to an individual in the amount of $170,000 at 8% due on November 16, 2013.  The note was extended to November 15, 2014.  This note was reassigned from HE Capital. The Company used the funds to pay off the convertible notes held by Asher Enterprise, Inc.  As of December 31, 2013 this loan has an outstanding balance of $170,000 and accrued interest in the amount of $15,314.

The Company issued a promissory note on March 19, 2013 to an individual in the amount of $150,000 at 8% due on March 18, 2014.  The Company used the funds for working capital.  As of December 31, 2013 this loan has an outstanding balance of $150,000 and accrued interest in the amount of $4,356.

The Company issued a promissory note in the amount of $171,300 on October 1, 2013 to its attorney in exchange for converting accounts payable.  The note accrues interest at 8% and is due on September 30, 2014.  As of December 31, 2013 this note has an outstanding balance of $171,300 and accrued interest in the amount of $3,454.

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STOCKHOLDERS' EQUITY (DEFICIT) (Preferred Stock and Common Stock) (Details) (USD $)	1 Months Ended	12 Months Ended				63 Months Ended
	Feb. 28, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2013
Class of Stock [Line Items]
Preferred stock, shares authorized		25,000,000	25,000,000			25,000,000
Preferred stock, par value per share		$ 0.001	$ 0.001			$ 0.001
Preferred stock, shares issued		0	0			0
Preferred stock, shares outstanding		0	0			0
Common stock, shares authorized		250,000,000	250,000,000			250,000,000
Common stock, par value per share		$ 0.001	$ 0.001			$ 0.001
Common stock, shares outstanding		5,904,688	2,499,585			5,904,688
Stock split ratio		100
Common shares issued for services		$ 1,221,360	$ 66,700
Common shares issued for services, shares		1,047,864	23,000
Conversion of notes payable and liabilities to common stock, shares		1,606,251	412,252
Conversion of notes payable and liabilities to common stock		801,574	421,500	563,400	1,006,488
Conversion of accrued salary to common shares, shares			200,000
Conversion of accrued salary to common shares		298,398	240,000
Number of shares issued for cash		63,000	150,000
Issuance of stock for cash		63,000	150,000			293,000
Common shares issued for debt extensions, shares			10,001
Common shares issued for debt extensions	30,000		30,000	1,900
Warrants issued to secured debenture holders			2,998	123,120
Conversion of accounts payable to common shares		73,468
Conversion of accounts payable to common shares, shares		151,757
Common shares issued as sweeteners for debt		64,286
Common shares issued as sweeteners for debt, shares		60,000
Common shares issued for fractional shares resulting from 1 for 100 reverse stock split effective March 27, 2013		33
Loss on debt conversion		(2,360,727)	(447,446)			(2,950,973)
Related Party [Member]
Class of Stock [Line Items]
Common shares issued for services		69,960
Common shares issued for services, shares		42,000
Warrants [Member]
Class of Stock [Line Items]
Number of warrants issued			100,000
Principal Portion of Debt Conversion [Member]
Class of Stock [Line Items]
Conversion of notes payable and liabilities to common stock, shares			349,333
Conversion of notes payable and liabilities to common stock		682,250	387,000
Interest Portion of Debt Conversion [Member]
Class of Stock [Line Items]
Conversion of notes payable and liabilities to common stock		119,324
Equity Issuance One [Member]
Class of Stock [Line Items]
Conversion of accrued salary to common shares, shares		216,198
Conversion of accrued salary to common shares		216,198
Equity Issuance Two [Member]
Class of Stock [Line Items]
Conversion of accrued salary to common shares, shares		260,000
Conversion of accrued salary to common shares		$ 82,200

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LOAN PAYABLE - RELATED PARTY (Tables)

12 Months Ended

Dec. 31, 2013

LOAN PAYABLE - OTHER [Abstract]

Schedule of Loan Payable - Related Party

A reconciliation of the loan is as follows:

	December 31,	December 31,
	2013	2012
Beginning Balance	$44,187	$72,496
Proceeds	7,000	7,600
Payments on accounts payable	2,000	-
Repayments	(30,700)	(35,909)
Repayment by HE Capital	(4,700)	-
Stock Conversion	(5,500)	-
Ending Balance	$12,287	$44,187

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JOINT VENTURE AGREEMENT WITH PETROSONICS, LLC. AND ITS TERMINATION

12 Months Ended

Dec. 31, 2013

JOINT VENTURE AGREEMENT WITH PETROSONICS, LLC. AND ITS TERMINATION [Abstract]

JOINT VENTURE AGREEMENT WITH PETROSONICS, LLC. AND ITS TERMINATION

NOTE 9-JOINT VENTURE AGREEMENT WITH PETROSONICS, LLC. AND ITS TERMINATION

On May 27, 2013, the Company entered into a joint venture agreement with Petrosonics, LLC. Pursuant to the Joint Venture Agreement, the parties agreed to the formation of an Irish registered company for the purpose of researching, development, manufacture and commercialization of oil-industry corroborated processes that remove sulfur from crude oil and refined fuels on a worldwide basis. The Company agreed to make a capital contribution of $14,000,000 (including $2,000,000 which the Company agreed to contribute within 30 days of execution of the Joint Venture Agreement, and an additional $12,000,000 which the Company agreed to contribute within 180 days of execution of the Joint Venture Agreement to the Joint Venture Company for a 51% interest. Petrosonics agreed to contribute certain intellectual property to the Joint Venture Company for a 49% interest.  During the Company's due diligence production, it incurred various delays which resulted in funding deferments.  The parties agreed to terminate the initial Joint Venture Agreement, effective as of September 3, 2013, with the understanding that a new Joint Venture Agreement may be entered into at a later date.   The parties have also agreed verbally to enter into a termination agreement wherein the Company will be reimbursed a portion of the funds raised in exchange for a release of the IP that was assigned in advance to the entity formed for the Joint Venture.  The Company had invested $318,000 into the agreement before its termination.

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PROVISION FOR INCOME TAXES

12 Months Ended

Dec. 31, 2013

PROVISION FOR INCOME TAXES [Abstract]

PROVISION FOR INCOME TAXES

NOTE 7-PROVISION FOR INCOME TAXES

Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Company's assets and liabilities.  Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Company's tax return.  Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. Availability of loss usage is subject to change of ownership limitations under Internal Revenue Code 382.

Net Deferred Tax Assets consisted of the following components as of December 31, 2013 and 2012:

Deferred Tax Assets:	2013	2012
NOL Carryover	$3,024,158	$2,439,144
Valuation allowance	(3,024,158)	(2,439,144)
	$              -	$              -

The income tax provision differs from the amount of income tax determined by applying the U.S. Federal Income tax rate to pretax income from continuing operations for the years ended December 31, 2013 and 2012.

At December 31, 2013, the Company had a net operating loss carry forward in the amount of approximately $8,900,000 available to offset future taxable income through 2033.  The Company established valuation allowances equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods.

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COMMITMENTS

12 Months Ended

Dec. 31, 2013

COMMITMENTS [Abstract]

COMMITMENTS

NOTE 8-COMMITMENTS

During 2013, the Company entered into an agreement with Black Lion Oil Limited (Black Lion) whose primary focus is on emerging energy technology with broad applications.  Under the agreement, the Company granted to Black Lion exclusive rights to the waste to oil process in specific territories outside of the United States.  In return Black Lion paid $100,000 in cash to the Company as a fee and agreed to pay the Company royalties amounting to ten percent (10.0%) of Black Lion's gross sales.  The Company used the fee for working capital.  

On June 1, 2013 the Company signed a three year lease for office space and opened its corporate offices in Oakdale, CA.  The office is staffed by the CEO, COO and two office personnel.  The office space is approximately 3,300 sq ft.  The lease calls for lease payments in the amount of $3,300 per month the first year, $3,738 per month the 2^nd year and $3,841 per month the 3^rd year.

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SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2013

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 10-SUBSEQUENT EVENTS

During the months of January and February 2014 the Company issued the following:.

-

2,069,016 common shares to convert $513,800 of notes payable into equity.

-

44,312 to a nonrelated party to settle $18,234 in accounts payable

-

10,000 shares to a vendor

-

50,000 shares to an employee

-

15,000 shares for the exercise of a warrant by a related party

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PROVISION FOR INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

PROVISION FOR INCOME TAXES [Abstract]

Schedule of Deferred Tax Assets

Net Deferred Tax Assets consisted of the following components as of December 31, 2013 and 2012:

Deferred Tax Assets:	2013	2012
NOL Carryover	$3,024,158	$2,439,144
Valuation allowance	(3,024,158)	(2,439,144)
	$              -	$              -

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STOCKHOLDERS' EQUITY (DEFICIT) (Schedule of Warrants) (Details) (Warrants [Member], USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Warrants [Member]
Warrants
Outstanding, beginning balance	19,519	18,519
Granted		1,000
Forfeited/canceled
Exercised
Outstanding, ending balance	19,519	19,519
Exercisable - December 31, 2013	19,519
Weighted Average Exercise Price
Outstanding, beginning balance	$ 5.64	$ 5.10
Granted		$ 10
Forfeited/canceled
Exercised
Outstanding, ending balance	$ 5.64	$ 5.64
Exercisable - December 31, 2013	$ 5.64

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CONSOLIDATED STATEMENTS OF CASH FLOW (USD $)	12 Months Ended		63 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$ (5,753,998)	$ (3,490,334)	$ (15,984,979)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Common stock issued for services	1,221,360	66,700	3,946,209
Common stock issued to reduce and extend debt		30,000	336,050
Loss on debt conversion	2,360,727	447,446	2,808,173
Impairment expense	125,000	118,783	243,783
Bad debt expense		261,890	261,890
Warrants issued as loan fees to brokers		2,998	33,320
Warrants issued to officers			234,357
Amortization of debt discount	64,286		187,406
Gain/loss on derivative liability		(151,738)
Loss on disposal of discontinued operations			429,066
Income from discontinued operations			(24,186)
Change in assets and liabilities
(Increase) in deposits and other current assets	(5,335)	70,216	(272,009)
Increase in accounts payable- related party	(4,975)	(39,208)
Increase in accounts payable and accrued expenses	1,518,267	2,249,542	5,023,395
Net cash (used in) operating activities	(474,668)	(433,705)	(2,777,525)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid for the acquisition of Magic Bright			(300,000)
Expenditures related to purchase of equipment for Riverbank Plant			(125,000)
Expenditures related to plans for building construction	(30,833)	(4,854)	(149,616)
Net cash (used in) investing activities	(30,833)	(4,854)	(574,616)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of stock for cash	63,000	150,000	293,000
Proceeds received from loan payable - related party	7,000	7,600	1,245,956
Payments on loan payable - related party	(30,700)	(35,909)	(271,092)
Proceeds received from loan payable - other	464,400	206,750	2,281,462
Payments on loan payable - other			(382,500)
Proceeds received from loan payable - convertible			135,500
Proceeds received from secured debentures			50,000
Net cash provided by financing activities	503,700	328,441	3,352,326
NET INCREASE IN CASH AND CASH EQUIVALENTS	(1,801)	(110,118)	185
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	1,986	112,104
CASH AND CASH EQUIVALENTS - END OF PERIOD	185	1,986	185
Cash paid during the period for:
Interest		34,163	215,161
NON-CASH SUPPLEMENTAL INFORMATION:
Shares issued for accrued salary	298,398	240,000	538,398
Conversion of loans payable for common stock	801,574	421,500	2,535,612
Discount for shares issued as sweeteners	64,286		64,286
Notes payable issued for investment in Petrosonics JV	125,000		125,000
Shares issued for accounts payable	73,468		73,468
Loan assumed by related party	171,300		171,300
Payment of accounts payable by related party	2,000		2,000
Payment of related party debt by nonrelated party	$ 4,700		$ 4,700

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LOAN PAYABLE - RELATED PARTY

12 Months Ended

Dec. 31, 2013

LOAN PAYABLE - RELATED PARTY [Abstract]

LOAN PAYABLE - RELATED PARTY

NOTE 4- LOAN PAYABLE - RELATED PARTY

The Company has an unsecured, loan payable in the form of a line of credit with its CEO. The CEO had provided a line of credit up to $1,000,000 at 4% interest per annum to the Company to cover various expenses and working capital infusions until the Company receives sufficient other funding.  This loan has been extended to December 31, 2014.  Balance of the loan at December 31, 2013 was $12,287 with accrued interest of $30,463.  A reconciliation of the loan is as follows:

	December 31,	December 31,
	2013	2012
Beginning Balance	$44,187	$72,496
Proceeds	7,000	7,600
Payments on accounts payable	2,000	-
Repayments	(30,700)	(35,909)
Repayment by HE Capital	(4,700)	-
Stock Conversion	(5,500)	-
Ending Balance	$12,287	$44,187

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LOAN PAYABLE - RELATED PARTY (Details) (USD $)	12 Months Ended		63 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Related Party Transaction [Line Items]
Stock Conversion	$ (801,574)	$ (421,500)	$ (2,535,612)
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Amount of line of credit	1,000,000		1,000,000
Interest rate	4.00%
Line of credit, expiration date	Dec. 31, 2014
Beginning Balance	44,187	72,496
Proceeds	7,000	7,600
Payments on accounts payable	2,000
Repayments	(30,700)	(35,909)
Repayment by HE Capital	(4,700)
Stock Conversion	(5,500)
Ending Balance	12,287	44,187	12,287
Accrued Interest	$ 30,463		$ 30,463

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LOAN PAYABLE - OTHER (Tables)

12 Months Ended

Dec. 31, 2013

LOAN PAYABLE - OTHER [Abstract]

Schedule of Loans Payable

History of the H. E. Capital loans is as follows:

	December 31,	December 31,
	2013	2012
Beginning Balance	$663,250	$769,750
Proceeds	464,400	450,500
Consulting fees & liabilities	136,172	-
Joint Venture Investment paid direct	125,000	-
Repayment to related party	4,700	-
Allocation Green Power Energy	(100,000)
Repayments	-	(170,000)
Non-cash conversion	(676,750)	(387,000)
Ending Balance	$616,772	$663,250