Quarterly report pursuant to Section 13 or 15(d)

Changes in Equity (Deficit)

 v2.3.0.11
Changes in Equity (Deficit)
 3 Months Ended
Jun. 30, 2011
Changes in Equity (Deficit)  
Stockholders' Equity Note Disclosure [Text Block]

Note 8 – Changes in Equity (Deficit)

 

A summary of the composition of Equity (Deficit) of the Company at June 30, 2011 and 2010, and the changes during the six months then ended is presented in the following table:

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Global Clean Holdings, Inc. stockholders' equity (deficit)

 

Noncontrolling interest

 

Total equity (deficit)

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2010

 

$

(3,084,518

)

 

$

4,241,945

 

 

$

1,157,427

 

Issuance of common stock

 

 

57,325

 

 

 

-

 

 

 

57,325

 

Capital contribution from noncontrolling interest

 

 

-

 

 

 

3,239,742

 

 

 

3,239,742

 

Share-based compensation

 

 

78,230

 

 

 

-

 

 

 

78,230

 

Accrual of preferential return for the noncontrolling interest

 

 

-

 

 

 

(654,706

)

 

 

(654,706

)

Net loss

 

 

(453,385

)

 

 

(684,422

)

 

 

(1,137,807

)

Other comprehensive loss

 

 

(3,557

)

 

 

394,847

 

 

 

391,290

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 2011

 

$

(3,405,905

)

 

$

6,537,406

 

 

$

3,131,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Global Clean Holdings, Inc. stockholders' equity (deficit)

 

Noncontrolling interest

 

Total equity (deficit)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2009

 

$

(3,078,412

)

 

$

2,485,792

 

 

$

(592,620

)

Issuance of common stock

 

 

500,000

 

 

 

-

 

 

 

500,000

 

Capital contribution from noncontrolling interest

 

 

-

 

 

 

1,700,382

 

 

 

1,700,382

 

Share-based compensation

 

 

60,333

 

 

 

-

 

 

 

60,333

 

Accrual of preferential return for the noncontrolling interest

 

 

-

 

 

 

(367,906

)

 

 

(367,906

)

Net loss

 

 

(299,500

)

 

 

(740,693

)

 

 

(1,040,193

)

Other comprehensive loss

 

 

(1,555

)

 

 

57,328

 

 

 

55,773

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 2010

 

$

(2,819,134

)

 

$

3,134,903

 

 

$

315,769

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

On March 30, 2010 the Company entered into a stock purchase agreement whereby the Company agreed to issue and sell 25,000,000 shares of the Company’s common stock at a price of $0.02 per share, for an aggregate purchase price of $500,000, which was paid in cash.

 

On April 25, 2011 an accredited investor in the Company exercised a Warrant for 945,000 shares at $.03 per share for net cash proceeds paid to the Company of $28,350. The proceeds from this sale were used for general corporate purposes.

 

On May 31, 2011 an accredited investor in the Company exercised a Warrant for 945,000 shares at $.03 per share for net cash proceeds paid to the Company of $28,350. The proceeds from this sale were used for general corporate purposes.