Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 07, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | Green Planet Bio Engineering Co. Ltd. | |
Entity Central Index Key | 0001392449 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Interactive Data Current | Yes | |
Entity Incorporation, State or Country Code | DE | |
Entity File Number | 000-52622 | |
Entity Common Stock, Shares Outstanding | 20,006,402 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | $ 0 | $ 0 |
Total current assets | 0 | 0 |
Current liabilities | ||
Accounts payable | 8,972 | 0 |
Amount due to a related party | 316,458 | 316,458 |
Total current liabilities | 325,430 | 316,458 |
Commitments and contingencies | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock: par value of $0.001 per share, authorized: 10,000,000 shares at March 31, 2021 and December 31, 2020, issued and outstanding: 0 shares at March 31, 2021 and December 31, 2020 | 0 | 0 |
Common stock: par value of $0.001 per share, authorized: 250,000,000 shares at March 31, 2021 and December 31, 2020, issued and outstanding: 20,006,402 shares at March 31, 2021 and December 31, 2020 | 20,006 | 20,006 |
Additional paid-in-capital | 609,614 | 609,614 |
Accumulated (deficit) | (955,050) | (946,078) |
Total stockholders' (deficit) | (325,430) | (316,458) |
Total liabilities and stockholders' (deficit) | $ 0 | $ 0 |
Condensed Balance Sheets (Una_2
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
STOCKHOLDERS' (DEFICIT) | ||
Preferred stock, par value | $ .001 | $ .001 |
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $ .001 | $ 0.001 |
Common stock, authorized | 250,000,000 | 250,000,000 |
Common stock, issued | 20,006,402 | 20,006,402 |
Common stock, outstanding | 20,006,402 | 20,006,402 |
Condensed Statements of Income
Condensed Statements of Income (Unaudited) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Income Statement [Abstract] | |||
Administrative expenses | $ (8,972) | $ (14,340) | |
Loss before income taxes | (8,972) | (14,340) | |
Provision for income taxes | 0 | 0 | |
Net loss | $ (8,972) | $ (14,340) | |
Loss per share | |||
Basic and diluted | [1] | ||
Weighted average number of shares outstanding | |||
Basic and diluted | 20,006,402 | 20,006,402 | |
[1] | Less than $.01, per share. |
Condensed Statements of Changes
Condensed Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Dec. 31, 2019 | 0 | 20,006,402 | |||
Beginning balance, amount at Dec. 31, 2019 | $ 0 | $ 20,006 | $ 609,614 | $ (912,479) | $ (282,859) |
Net loss | (14,340) | (14,340) | |||
Ending balance, shares at Mar. 31, 2020 | 0 | 20,006,402 | |||
Ending balance, amount at Mar. 31, 2020 | $ 0 | $ 20,006 | 609,614 | (926,819) | (297,199) |
Beginning balance, shares at Dec. 31, 2020 | 0 | 20,006,402 | |||
Beginning balance, amount at Dec. 31, 2020 | $ 0 | $ 20,006 | 609,614 | (946,078) | (316,458) |
Net loss | (8,972) | (8,972) | |||
Ending balance, shares at Mar. 31, 2021 | 0 | 20,006,402 | |||
Ending balance, amount at Mar. 31, 2021 | $ 0 | $ 20,006 | $ 609,614 | $ (955,050) | $ (325,430) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities | ||
Net loss | $ (8,972) | $ (14,340) |
Changes in operating assets and liabilities: | ||
Accounts payable | 8,972 | (214) |
Net cash flows used by operating activities | 0 | (14,554) |
Cash flows from investing activities | 0 | 0 |
Cash flows from financing activities | ||
Amount due to a related company | 0 | 14,554 |
Cash flows from financing activities | 0 | 14,554 |
Net change in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents - beginning of period | 0 | 0 |
Cash and cash equivalents - end of period | 0 | 0 |
Supplemental disclosures for cash flow information: | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
1. General Information
1. General Information | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
1. General Information | Mondo Acquisition II, Inc. was incorporated in the State of Delaware on October 30, 2006 and the name was changed to Green Planet Bioengineering Co., Ltd. (“Company”) on October 2, 2008. In October 2008, the Company acquired Elevated Throne Overseas Ltd, incorporated in British Virgin Islands, and its subsidiaries which was subsequently divested to One Bio, Corp (“ONE”) on April 14, 2010. In March 2012, Global Fund Holdings Corp. (“Global Funds”) an Ontario, Canada Corporation became a majority stockholder of the Company. The Company operates as a public reorganized shell corporation with the purpose to acquire or merge with an existing business operation. The Company's activities are subject to significant risks and uncertainties, as their ability to implement and execute future business plans and generate sufficient business revenue is directly influenced by their ability to secure adequate financing or find profitable business opportunities. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
2. Summary of Significant Accounting Policies | Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10- Q of Regulation S-K. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal and recurring adjustments have been made. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2021. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the years reported. Actual results could differ from those estimates. Significant items that require estimates were accruals of liabilities. Cash and cash equivalents Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less to be cash equivalents. Balances of cash and cash equivalents in financial institutions may at times exceed the government-insured limits. Loss per share Earnings per share is reported in accordance with FASB ASC Topic 260 “ Earnings per Share As of March 31, 2021 and 2020, the Company does not have any common share equivalents outstanding. Fair Value Measurements FASB ASC Topic 820, “ Fair Value Measurements and Disclosures Level 1 - Quoted prices are available in active markets for identical investments as of the period reporting date Level 2 - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level 3 - Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. Recent Changes in Accounting Standards Management does not believe that the recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed financial statements. |
3. Going Concern
3. Going Concern | 3 Months Ended |
Mar. 31, 2021 | |
Going Concern | |
3. Going Concern | The unaudited condensed financial statements have been prepared assuming that the Company will continue as a going concern. The Company is currently a public reorganized shell corporation and has no current business activity. The Company’s ability to continue as a going concern is dependent on continued support from a related party of the majority stockholder. This gives rise to substantial doubt about the Company’s ability to continue as a going concern. |
4. Amount Due to a Related Comp
4. Amount Due to a Related Company | 3 Months Ended |
Mar. 31, 2021 | |
Due to Related Parties [Abstract] | |
4. Amount Due to a Related Company | The Company relies on a related party to advance funds to finance its operating expenses. The Company’s Chief Executive Officer, Chief Financial Officer and Director of the Company is also a director of the related party. The amounts advanced of $316,458 are interest-free, unsecured and are repayable upon demand. |
5. Preferred Stock _ Common Sto
5. Preferred Stock / Common Stock | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
5. Preferred Stock / Common Stock | Series A Preferred stock The Company is authorized under its Articles of Incorporation to issue 10,000,000 shares of Series A preferred stock with a par value of $0.001 per share. Each share of the Company’s preferred stock provides the holder with the right to vote 1,000 votes on all matters submitted to a vote of the stockholders of the Company and is convertible into 1,000 shares of the Company’s common stock. The preferred stock is non-participating and carries no dividend. The Company does not have any issued shares of the preferred stock as of March 31, 2021 and December 31, 2020. Common stock The Company is authorized to issue 250,000,000 shares of common stock with a par value of $0.001 per share. During the three months ended March 31, 2021, the Company did not issue any shares of common stock or warrants. |
6. Subsequent Events
6. Subsequent Events | 3 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
6. Subsequent Events | The related party advanced the Company $8,972 from April 1, 2021 through the date of filing. |
2. Summary of Significant Acc_2
2. Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying unaudited condensed financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10- Q of Regulation S-K. They may not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the United States Securities and Exchange Commission. The unaudited condensed financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal and recurring adjustments have been made. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2021. |
Use of Estimates | The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses for the years reported. Actual results could differ from those estimates. Significant items that require estimates were accruals of liabilities. |
Cash and Cash Equivalents | Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less to be cash equivalents. Balances of cash and cash equivalents in financial institutions may at times exceed the government-insured limits. |
Loss Per Share | Earnings per share is reported in accordance with FASB ASC Topic 260 “ Earnings per Share As of March 31, 2021 and 2020, the Company does not have any common share equivalents outstanding. |
Fair Value Measurements | FASB ASC Topic 820, “ Fair Value Measurements and Disclosures Level 1 - Quoted prices are available in active markets for identical investments as of the period reporting date Level 2 - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Level 3 - Pricing inputs are unobservable for the investment and included situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment or estimation. |
Recent Changes in Accounting Standards | Management does not believe that the recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed financial statements. |
1. General Information (Details
1. General Information (Details Narrative) | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
State of incorporation | DE |
Incorporation date | Oct. 30, 2006 |
2. Summary of Significant Acc_3
2. Summary of Significant Accounting Policies (Details Narrative) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Accounting Policies [Abstract] | ||
Common share equivalents outstanding | 0 | 0 |
4. Amount Due to a Related Co_2
4. Amount Due to a Related Company (Details Narrative) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Due to Related Parties [Abstract] | ||
Amount due to a related party | $ 316,458 | $ 316,458 |
5. Preferred Stock _ Common S_2
5. Preferred Stock / Common Stock (Details Narrative) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Equity [Abstract] | ||
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock par value | $ .001 | $ .001 |
Preferred stock, issued | 0 | 0 |
Common stock, authorized | 250,000,000 | 250,000,000 |
Common stock, par value | $ .001 | $ 0.001 |
Common stock or warrants issued | 0 |