1. Restatement of Previously Issued Financial Statements (Tables)

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Restatement of Previously Issued Financial Statements

	As Previously
	Reported on Form 10-Q			Opening Deficit			BCF			Compensation			As Restated			Reclassify Discontinued Operations			As Restated and Reclassified
ASSETS
CURRENT ASSETS
Cash	$	27,562											$	27,562		$	—		$	27,562
Accounts receivable		396,337												396,337			(281,425	)		114,912
Prepaid expenses		103,762												103,762			(26,545	)		77,217
Inventory		31,897												31,897			(31,897	)		—
Current assets - held for sale		—												—			339,867			339,867
Total current assets		559,558			—			—			—			559,558			—			559,558
NON CURRENT ASSETS:
Cash - Restricted		93,480			—			—			—			93,480			—			93,480
Fixed assets		524,886												524,886			(232,135	)		292,751
Long term assets - held for resale																	232,135			232,135
Total assets	$	1,177,924		$	—		$	—		$	—		$	1,177,924		$	—		$	1,177,924
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable and accrued liabilities		595,275												595,275			(221,214	)		374,061
Taxes payable		2,633,188			—			—			—			2,633,188			(19,387	)		2,613,801
Deferred revenue		110,126												110,126						110,126
Current portion of loan payable		8,086			—			—			—			8,086			—			8,086
Short term loan		93,689			(34,357	)		8,785						68,117						68,117
Related party payables		597,412			—			—			—			597,412			(324,216	)		273,196
Current liabilities - held for resale		—			—			—			—			—			564,817			564,817
Total current liabilities		4,037,776			(34,357	)		8,785			—			4,012,204			—			4,012,204
NON CURRENT LIABILITIES:
Loan payable		24,200												24,200			—			24,200
Total Liabilities		4,061,976			(34,357	)		8,785			—			4,036,404			—			4,036,404
STOCKHOLDERS' DEFICIT
Common stock		473,431			—			—			—			473,431			—			473,431
Additional paid-in capital		8,738,070			4,150,113			34,286			624,596			13,547,065			—			13,547,065
Accumulated other comprehensive loss		271,509			—			—			—			271,509			—			271,509
Accumulated deficit		(12,367,062	)		(4,115,756	)		(43,071	)		(624,596	)		(17,150,485	)		—			(17,150,485	)
Total Stockholders' Deficit		(2,884,052	)		34,357			(8,785	)		—			(2,858,480	)		—			(2,858,480	)
Total Liabilities and Stockholders' Deficit	$	1,177,924		$	—		$	—		$	—		$	1,177,924		$	—		$	1,177,924

GREENESTONE HEALTHCARE CORPORATION

RESTATED AND RECLASSIFIED UNAUDITED INCOME STATEMENT

For the three months Ended June 30, 2014

	As Previously Reported on Form 10-Q			BCF			Compensation			As Restated			Reclassify Discontinued Operations			As Restated and Reclassified
Revenues	$	1,641,094		$	—		$	—		$	1,614,094		$	(635,484	)	$	1,005,610
Cost of services provided		358,420			—			—			358,420			(358,420	)		—
Gross margin		1,282,674			—			—			1,282,674			(277,064	)		1,005,610
Operating expenses
Depreciation		35,040			—						35,040			(14,353	)		20,687
General and administrative		246,502			—						246,502			(82,419	)		164,083
Management fees		22,933			—						22,933			(68	)		22,865
Professional fees		20,844			—						20,844			(16,059	)		4,785
Rent		161,804			—						161,804			(89,309	)		72,495
Salaries and wages		684,743			—			312,295			997,041			(129,809	)		867,232
Total operating expenses		1,171,866			—			312,298			1,481,164			(332,317	)		1,152,147
Net Operating income (loss)	$	110,808		$	—		$	(312,298	)	$	(201,490	)	$	54,953		$	(146,537	)
Interest expense		(8,347	)		(10,521	)		—			(18,868	)		6,620			(12,248	)
Foreign exchange movement		—			—			—			—			—			—
Income (loss) from continuing operations	$	102,461		$	(10,521	)	$	(312,298	)	$	(220,358	)	$	61,573		$	(158,785	)
Loss from discontinued operations, net of tax		—			—			—			—			(61,573	)		(61,573	)
Net loss applicable to common shareholders	$	102,461		$	(10,521	)	$	(312,298	)	$	(220,358	)	$	—		$	(220,385	)
Accumulated other comprehensive loss
Foreign currency translation adjustment		(98,303	)		—			—			(98,303	)		—			(98,303	)
Total comprehensive income (loss)	$	4,158		$	(10,521	)	$	(312,298	)	$	(318,661	)	$	—		$	(318,661	)

GREENESTONE HEALTHCARE CORPORATION

Restated and reclassified Unaudited Income Statement

For the six months ended June 30, 2014

	As Previously Reported 10-Q			BCF			Compensation			As Restated			Reclassify Discontinued Operations			As Restated And Reclassified
Revenue	$	2,779,072		$	—		$	—		$	2,779,072		$	(1,163,25	)	$	1,615,819
Cost of services provided		646,893			—			—			646,893			(646,893	)		—
Gross margin		2,132,179			—			—			2,132,179			(516,360	)		1,615,819
Operating Expenses
Depreciation		69,637			—						69,637			(28,494	)		41,143
General and administrative		397,301			—						397,301			(143,432	)		253,869
Management fees		77,223			—						77,223			(9,115	)		68,108
Professional fees		83,374			—						83,374			(18,321	)		65,053
Rent		421,699			—						421,699			(170,899	)		250,800
Salaries and wages		1,393,975			—			624,596			2,018,571			(246,399	)		1,772,172
Total operating expenses		2,443,209			—			624,596			3,067,805			(616,660	)		2,451,145
Net operating income (loss)		(311,030	)		—			(624,596	)		(935,626	)		100,300			(835,326	)
Interest expense		(28,248	)		(43,071	)		—			(71,319	)		6,620			(64,699	)
Foreign exchange movement		(92,825	)		—			—			(92,825	)		—			(92,825	)
Income (loss) from continuing operations		(432,103	)		(43,071	)		(624,596	)		(1,099,770	)		106,920			(992,850	)
Loss from discontinued operations, net of tax		—			—			—			—			(106,920	)		(106,920	)
Net loss applicable to common stockholders		(432,103	)		(43,071	)		(624,596	)		(1,099,770	)		—			(1,099,770	)
Accumulated other comprehensive loss
Foreign currency translation adjustment		7,374			—			—			7,374			—			7,374
Total Comprehensive income (loss)	$	(424,729	)	$	(43,071	)	$	(624,596	)	$	(1,092,396	)	$	—		$	(1,092,396	)

GREENESTONE HEALTHCARE CORP

RESTATED AND RECLASSIFIED CONSOLIDATED STATEMENT OF CASH FLOWS

For the period Ended June 30, 2014

	As Previously Reported 10-Q			BCF			Compensation			As Restated			Reclassify Discontinued Operations			As Restated And Reclassified
Operating Activities
Net loss – continuing operations	$	(432,103	)	$	(43,071	)	$	(624,596	)	$	(1,099,770	)	$	106,920		$	(992,850	)
Net loss – discontinued operations		—			—			—			—			(106,920	)		(106,920	)
		(432,103	)		(43,071	)		(624,596	)		(1,099,770	)		—			(1,099,770	)
Adjustments to reconcile net loss to net cash utilized by operating activities
Depreciation		69,637			—			—			69,637			(28,494	)		41,143
Stock issued for services		—			—			624,596			624,596			—			624,596
Amortization of beneficial conversion feature		—			43,071			—			43,071			—			43,071
Change in operating assets and liabilities
Decrease in accounts receivable		44,580			—			—			44,580			35,010			79,590
Increase in inventory		(19,349	)		—			—			(19,349	)		19,349			—
Decrease in prepaid expenses		6,091			—			—			6,091			1,215			7,306
Decrease in accounts payable and accrued liabilities		(108,643	)		—			—			(108,643	)		42,097			(66,546	)
Increase in accrued interest		13,689			—			—			13,689			—			13,689
Increase in taxes payable		242,413			—			—			242,413			(531	)		241,882
Increase in deferred revenue		2,651			—			—			2,651			—			2,651
Net cash used in operating activities – continuing operations		(181,034	)		—			—			(181,034	)		68,646			(112,388	)
Net cash used in operating activities – discontinued operations		—			—			—			—			(68,646	)		(68,646	)
Net cash used in operating activities		(181,034	)		—			—			(181,034	)		—			(181,034	)
Investing activities
Acquisition of fixed assets		(58,399	)		—			—			(58,399	)		7,751			(50,648	)
Net cash used in investing activities – continuing operations		(58,399	)		—			—			(58,399	)		7,751			(50,648	)
Net cash used in investing activities – discontinued operations		—			—			—			—			(7,751	)		(7,751	)
Net cash used in investing activities		(58,399	)		—			—			(58,399	)		—			(58,399	)
Financing activities
Change in restricted cash		540			—			—			540			—			540
Repayment of loans		(4,120	)		—			—			(4,120	)		—			(4,120	)
Proceeds from convertible notes payable		80,000			—			—			80,000			—			80,000
Proceeds from the sale of common stock		382,502			—			—			382,502			—			382,502
Proceeds from related party notes		(73,228	)		—			—			(73,228	)		140,429			67,201
Net cash generated by financing activities – continuing operations		385,694			—			—			385,694			140,429			526,123
Net cash used in financing activities – discontinued operations		—			—			—			—			(140,429	)		(140,429	)
Net cash used in financing activities		385,694			—			—			385,694			—			385,694
Effect of exchange rate on cash		7,374			—			—			7,374			—			7,374
Net change in cash		153,635			—			—			153,635			—			153,635
Beginning cash balance (overdraft)		(126,073	)		—			—			(126,073	)		—			(126,073	)
Ending cash balance (excluding restricted cash)		27,562			—			—			27,562			—			27,562