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1. Organization and Description of The Business.: Basis of Accounting, Policy (Policies)
9 Months Ended
Sep. 30, 2013
Policies  
Basis of Accounting, Policy

Global Ecology Corporation (“GECO”) is a Nevada corporation formed in 1993. Our principal executive office is located at 96 Park Street Montclair, New Jersey 07042 and our telephone number is (973) 655-9001. GECO’s website is www.geco.us. 

 

In the fourth quarter of 2007, we began investing in a new industry and we secured distribution rights to a patented water restoration technology, which represented a substantial opportunity in the multi-billon dollar global water purification market. Our company has proposed the use of its services in the United States and several foreign counties.

 

GEC Organics Corporation

 

On October 25, 2011, we received the last tranche of the funding necessary to begin the construction process on our first domestic organic soil amendment site in Castleberry, Alabama. The location, which encompasses nearly 70 acres, will be one of the largest of its kind in the U.S.  Though our subsidiary GEC Organics Corp., we produce our proprietary compost product at our 70-acre facility located in the Town of Castleberry, Alabama.  Our proprietary compost product is designed to greatly enhance crop yield and turf growth while continuing to maintain soil integrity. The highly nutritious compost is made from chicken waste blended with green waste and enhanced with GEC's own microbial formula.  When fully operational, the Castleberry, Alabama site will be able to produce up to 10,000 tons of OAS1000 solid compost and in excess of 20,000 gallons of OSACT1000 Compost Tea each month. 

 

In December of 2012, we received certification from the USDA for our Compost, OSA1000, and Compost Tea, OSACT1000, permitting its unrestricted use in all organic agricultural applications.  We began field testing with Auburn University for a number of crops and intend to expand this effort in their turf division to support our discussions with the United States Golf Association.  Our staff is negotiating with several land trusts and farm consortiums which will help in our wholesale distribution efforts.  Further, we have been given leads from shareholders for the use of our products for other remediation activities.  These opportunities, if successful will expand our services for the reclamation of contaminated soil and water as well as the development of organic growing mediums. We still face marketing challenges from a capital standpoint but we have developed a marketing plan and the necessary materials for exhibits, shows, advertising and customer contacts.

 

In addition, we have initiated the process to register and sell our carbon credits produced at our Alabama facility and future locations.  We have registered our process with two registries; VCS (Verified Carbon Standard) and CAR (Climate Action Reserve).  We have developed our Project Design Document and are now in the Validation and Verification phase.     We have arranged for the needed financing to put the plan in place which will include: working capital for GECO, due-diligence, filings, legal expense, and agency approvals when needed. As of June 30, 2013, we had begun limited production, marketing and sale of our organic soil amendment.   The carbon credit program will open up new opportunities by generating substantial capital but we can provide no assurance that our product will  r receive approval for the carbon credit program in order for us recognize a return on our investment.

 

Furthermore, we have met with government agencies at the state and local level in Hawaii and have submitted proposals for a site similar to our location in Alabama through a subsidiary Hawaii Organics Corporation. Our goal is to establish a fully operational organic fertilizer/compost facility on several of the Islands as part of a comprehensive agriculture and environmental solution for the State of Hawaii.

 

GEC CleanWater Technologies, Inc.  

 

In the second quarter we established our GEC CleanWater Technologies, Inc. subsidiary to market our licensed, EPA approved water purification technology IMS1000 and our Mobile Pure Water System (“MPWS”).  We have partnered with RDK Enterprises to provide funding, management assistance and development of this subsidiary which will allow us to take advantage of the work the company has done over the years in preparing for the commercialization of our highly effective water remediation and purification systems.  In addition, GEC CleanWater Technologies, Inc. has retained the services of a well-known, highly respected, international law firm located in Washington DC to assist in the management of relationships and legal protocols for working with state and federal governmental agencies.  GEC CleanWater Technologies, Inc. aims to work with federal and state governmental agencies by providing solutions for the myriad of water issues confronting governmental agencies.

 

Clean Tower Technologies, Inc.

 

In January of 2011, we formed a wholly subsidiary, CleanTower Technologies, Inc., for the purpose of developing a market for our licensed environmentally safe chemical IMS1000. The solution is produced under a private label arrangement with our Canadian supplier, Ocion Corporation, formerly EnvirEau Technologies, Inc. This new company will eventually include a number of affiliates with industry experience to help us build the operation. As of September 30, 2013 there has been no activity to report.

 

We have supported a number of events at the United Nations and have established our self as a strategic partner with International Renewable Energy Organization (“IREO”), a Brazilian private partner of the United Nations.  Peter Ubaldi, our President and CEO, has been appointed as Chairman of IREO’s Water Restoration Committee.  We have proposed our remediation technology for contaminated bodies of water and for the remediation of soil in South America, Central America, the Philippines and the United States as part of its expanding marketing efforts.

 

Going Concern

 

We have incurred operating losses for the nine months ended September 30, 2013 and 2012 of ($723,982) and ($881,423), respectively, and an operating loss of ($991,860) for the year just ended December 31, 2012. We also had working capital deficiencies in both periods. Our financial statements have been prepared on the assumption that the Company will continue as a going concern. We are seeking various types of additional funding such as issuance of additional common or preferred stock, additional lines of credit, or issuance of subordinated debentures or other forms of debt. The additional funding would alleviate our working capital deficiency and increase profitability. However, it is not possible to predict the success of management's efforts to achieve profitability or to secure additional funding.

 

If additional financing arrangements cannot be obtained, we would be materially and adversely affected and there would be substantial doubt about our ability to continue as a going concern. The consolidated financial statements do not include any adjustments relating to the recoverability and realization of assets and classifications of liabilities necessary if the Company becomes unable to continue as a going concern. Also, there can be no assurance that additional funding will be available when needed or, if available, that its terms will be favorable or acceptable. We are also seeking to renegotiate certain liabilities in order to alleviate the working capital deficiency.

 

2. Basis of Presentation

 

The financial information presented in this report comprises the unaudited financial statements for the three and nine months ended September 30, 2013 and 2012.

 

We, without audit, have prepared the accompanying interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with

generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q. These unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2012 filed with the SEC on April 18, 2013.

 

In the opinion of our management, the financial statements include all adjustments, which consist of normal recurring adjustments, necessary to present fairly the financial position, results of operations and cash flows of our Company for the periods presented. The results of operations for the period ended September 30, 2013 are not necessarily indicative of operating results expected for the full year or future interim periods.