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GREENHOUSE SOLUTIONS INC. - 10-K - Management's Discussion and Analysis of Financial Condition and Results of Operations.

August 28, 2014



This form 10-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose any statements contained in this Form 10-K that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may", "will", "expect", "believe", "anticipate", "estimate" or "continue" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control. These factors include by are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from much larger competitors; technological advances and failure to successfully develop business relationships.

Based on our financial history since inception, our auditor has expressed substantial doubt as to our ability to continue as a going concern. As reflected in the accompanying financial statements, as of March 31, 2014, we had an accumulated deficit totaling $132,118. This raises substantial doubts about our ability to continue as a going concern.

Results of Operations

For the year ended March 31, 2014 and 2013, we had $Nil revenues. For the Year ended March 31, 2014, General and Administrative Expenses were $20,391 as compared to General and Administrative Expenses of $42,224 for the year ended March 31, 2013. For the year ended March 31, 2014, we incurred a net loss of $20,391 as compared to a net loss of $42,224 for the year ended March 31, 2013.

Our auditor has expressed substantial doubt as to whether we will be able to continue to operate as a "going concern" due to the fact that the Company has an accumulated deficit of $132,118 as of March 31, 2014, and has not yet established an on going source of revenues sufficient to cover its operating costs and allow it continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining the adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

Liquidity and Capital Resources

As of March 31, 2014, we had cash of $Nil and other current assets of $Nil as compared to cash of $1 and other current assets of $Nil for the year ended March 31, 2013. We anticipate that our current cash and cash equivalents and cash generated from operations, if any, will be insufficient to satisfy our liquidity requirements for at least the next 12 months. We will require additional funds prior to such time and the Company will seek to obtain theses funds by selling additional capital through private equity placements, debt or other sources of financing. If we are unable to obtain sufficient additional financing, we may be required to reduce the scope of our planned operations, which could harm our business, financial condition and operating results. Additional funding to meet our requirements may not be available on favorable terms, if at all.

During the fiscal year ended March 31, 2014, the Company sold 62,000 shares of its common stock for total proceeds of $31,000.

Off Balance Sheet Arrangements

We have no 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 are material to stockholders.


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Source: Edgar Glimpses


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