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Last Post: 9/18/2017 7:59:58 PM - Followers: 26 - Board type: Free - Posts Today: 0

 

GREEN ENERGY MANAGEMENT SERVICES HOLDINGS, INC.

(formerly CDSS Wind Down Inc. and Southside Electric Corporation, Inc.)
 
CONDENSED CONSOLIDATED BALANCE SHEETS
 
   
September 30,
2010
   
December 31,
2009
 
   
(Unaudited)
   
(Audited)
 
ASSETS
 
 
   
 
 
Current
 
 
   
 
 
Cash
  $ 459,179     $ 18,241  
Contract receivables
    33,735       220,652  
Prepaid expenses
    101,904       3,710  
                 
Total Current Assets
    594,818       242,603  
                 
Property and equipment-net
    87,604       79,339  
Licensing agreement
    633,600       -  
Other assets
    8,440       -  
                 
Total Assets
  $ 1,324,462     $ 321,942  
                 
LIABILITIES
               
Current
               
Accounts payable - trade
  $ 275,812     $ 222,370  
Line of Credit
    -       195,000  
Note payable - Current portion
    12,223       10,877  
Advances from stockholders
    -       38,550  
Other accrued liabilities
    134,962       3,802  
                 
Total Current Liabilities
    422,997       470,599  
                 
Note payable - long-term portion
    43,027       52,351  
                 
Total Liabilities
    466,024       522,950  
                 
STOCKHOLDERS' EQUITY (DEFICIT)
               
Common stock, $0.0001 par value, 500,000,000 shares authorized; 442,003,636 and 351,691,756 shares issued and outstanding on September 30, 2010 and December 31, 2009, respectively
    44,200       35,169  
Additional paid-in capital
    2,020,402       (34,169 )
Subscription receivable
    (50,000 )     -  
Retained deficit
    (1,156,164 )     (202,008 )
                 
Total Stockholders' Equity (Deficit)
    858,438       (201,008 )
                 
Total Liabilities & Stockholders' Equity (Deficit)
  $ 1,324,462     $ 321,942  
 
 
See accompanying notes to condensed consolidated financial statements.

 


GREEN ENERGY MANAGEMENT SERVICES HOLDINGS, INC.
(formerly CDSS Wind Down Inc. and Southside Electric Corporation, Inc.)
 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 
   
Three months ended September 30,
   
Nine months ended September 30,
 
   
2010
   
2009
   
2010
   
2009
 
   
 
   
 
   
 
   
 
 
Contract revenue earned
  $ -     $ 504,097     $ 291,311     $ 1,464,452  
Cost of revenue earned
    -       320,246       270,163       1,280,804  
                                 
Gross profit (loss)
    -       183,851       21,148       183,648  
                                 
Selling, general and administrative expenses
    578,988       72,601       989,348       246,153  
Gain on settlement of trade payables
    (24,029 )     -       (24,029 )     -  
                                 
Operating income (loss)
    (554,959 )     111,250       (944,171 )     (62,505 )
                                 
Miscellaneous income
    1,462       -       1,112       -  
Loss on sale of assets
    -       (3,220 )     -       (3,220 )
Interest expense, net
    (2,823 )     (1,244 )     (11,097 )     (6,443 )
                                 
Total other income (expense)
    (1,361     (4,464 )     (9,985     (9,663 )
                                 
Net income (loss) before income taxes
    (556,320 )     106,786       (954,156 )     (72,168 )
                                 
Income taxes
    -       -       -       -  
                                 
Net income (loss)
  $ (556,320 )   $ 106,786     $ (954,156 )   $ (72,168 )
                                 
Net income (loss) per common share - basic and diluted
  $ 0.00     $ 0.00     $ 0.00     $ 0.00  
                                 
Weighted average number of common shares outstanding
    390,961,398       351,691,756       364,925,482       351,691,756  
 
 
See accompanying notes to condensed consolidated financial statements.

 


GREEN ENERGY MANAGEMENT SERVICES HOLDINGS, INC.
(formerly CDSS Wind Down Inc. and Southside Electric Corporation, Inc.)
 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
  (Unaudited)
 
   
Nine Months Ended September 30,
 
   
2010
   
2009
 
Cash flows from operating activities:
           
Net loss for the period
  $ (954,156 )   $ (72,168 )
Adjustments to reconcile net loss to net cash (used in) operating activities:
               
Depreciation
    5,851       7,180  
Stock-based compensation
    90,000       -  
        Gain on forgiveness of trade payables     (24,029 )        
Loss on sale of vehicle
    -       4,250  
Net change in assets and liabilities:
               
Decrease in contract receivables
    186,917       27,710  
Increase in prepaid expenses
    (98,194 )     -  
(Increase) decrease in other assets
    (8,440 )     5,374  
Increase (decrease) in accounts payable - trade
    77,471       (12,765 )
Decrease in billings in excess of costs and estimated earnings on uncompleted contracts
    -       (70,496 )
Increase (decrease) in advances from shareholders
    (38,550 )     3,552  
Increase in accrued liabilities
    131,160       674  
Net cash (used in) operating activities
    (631,970 )     (106,689 )
                 
Cash flows from investing activities:
               
Cash distributions prior to merger
    (9,998 )     -  
Purchases of property and equipment
    (14,116 )     -  
                 
Net cash (used in) investing activities
    (24,114 )     -  
                 
Cash flows from financing activities:
               
Net proceeds from line of credit
    5,000       43,581  
Repayment of debt on installment notes
    (7,978 )     -  
Cash proceeds from merger transaction
    1,100,000       -  
                 
Net cash provided by financing activities
    1,097,022       43,581  
                 
Net increase (decrease) in cash
    440,938       (63,108 )
Cash - beginning of period
    18,241       70,143  
                 
Cash - end of period
  $ 459,179     $ 7,035  
                 
Supplemental disclosure of cash flow information:
               
Cash payments for interest
  $ 11,105     $ 6,443  
 
 
See accompanying notes to condensed consolidated financial statements.

 

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PostSubject
#4677   GRMS is severely delinquent in filing the company's Renee 09/18/17 07:59:58 PM
#4676   I hardly think Steven Brett Solomon, who controls Mirkenizer 10/08/15 04:03:55 PM
#4675   ANY GOOD NEWS ON GRMS? LOOKED LIKE IT BULL53 07/10/15 03:02:04 PM
#4674   the people who run this company are solid dhatch 02/27/15 01:10:44 PM
#4673   no one talking about the rise in this dhatch 02/12/15 11:28:41 AM
#4672   6.5 by 8 grms is holding its own.a dhatch 02/06/15 11:19:53 AM
#4671   holding solid! mattyA25 02/04/15 02:18:46 PM
#4670   davecapital this is just GREAT!i have owned grms dhatch 02/03/15 11:45:55 PM
#4669   The charts may not quite line up right, davecapital 02/03/15 11:35:06 PM
#4668   Marc Lore, the former founder of Diapers.com, is dowjones78 02/03/15 10:50:11 PM
#4667   WHAT A DAY!WHAT A DAY!WHAT A DAY!!!MY WAIT dhatch 02/03/15 09:43:42 PM
#4666   volume in grms it has been a long dhatch 02/02/15 06:20:28 PM
#4665   grms at long last has some volume and dhatch 12/22/14 02:55:02 PM
#4664   anyone on this board?i would like to know dhatch 11/26/14 11:01:42 AM
#4663   GRMS: one for 10 reverse split: Renee 10/15/12 06:33:42 PM
#4662   Quite a bit of Volume ..... renoldman 12/23/11 02:30:04 PM
#4661   Board Resignation maddawg2020 12/07/11 10:43:30 AM
#4660   What's up with this POS? any good reasons ms123 09/21/11 07:10:57 PM
#4659   8K Filed; CFO is gone maddawg2020 09/14/11 05:46:56 PM
#4658   GRMS 9/6/11 REGSHO TheMaestroWay 09/07/11 03:30:20 PM
#4657   Company asking shareholders to approve 15:1 R/S TheMaestroWay 09/06/11 03:52:39 PM
#4656   Hmmm... some volume here again? TheMaestroWay 08/23/11 05:54:06 PM
#4655   10-Q Out Today Bucks4Buckeyes 08/15/11 04:49:00 PM
#4654   Really Holding strong, lol...I sold this stock at Penny Stalker 08/07/11 09:40:47 AM
#4653   holding strong! Weasel5828 07/01/11 10:53:50 AM
#4652   Any new info? Weasel5828 03/29/11 10:31:35 AM
#4651   Looks to me like they they used warrants Deep_C 03/09/11 06:49:48 PM
#4650   Can anyone help me understand the news that Investor_Justin 03/09/11 05:49:15 PM
#4649   Agreed, need some heavy duty contracts Weasel5828 02/18/11 11:54:32 AM
#4648   my thought is it is going to take jonesb 02/16/11 12:00:05 PM
#4647   The news is great. Why no movement maddawg2020 02/16/11 11:11:21 AM
#4646   Indeed it was, right on cue! Weasel5828 02/16/11 11:01:53 AM
#4645   Weasel it was nice to see a press jonesb 02/16/11 08:53:54 AM
#4644   I concur, whats up you guys! Anyone know Weasel5828 02/15/11 02:43:11 PM
#4643   this board is dead!!! jonesb 02/15/11 10:33:57 AM
#4642   k jonesb 02/15/11 10:33:39 AM
#4641   Seems all pinks and subs are on SEC watch Weasel5828 01/07/11 03:10:28 PM
#4640   Think twice about holding long term. jibberjabber 01/07/11 04:30:04 AM
#4639   yea unsure whats going on but I plan Weasel5828 01/05/11 02:55:51 PM
#4638   It seems to be struggling to maintain price jonesb 01/05/11 12:40:34 PM
#4637   None really. Was happy to see this take Weasel5828 01/05/11 10:22:23 AM
#4636   Sure is dead in here. Anyone have jonesb 01/03/11 09:41:26 AM
#4635   Sure is dead in here. Anyone have jonesb 01/03/11 09:41:22 AM
#4634   Green Energy Management Announces AIRLOCK Water Efficiency Contract ALiVE 12/20/10 07:30:59 PM
#4633   I'm in. I see a logical progression to Deep_C 12/15/10 11:14:05 AM
#4632   Yessir, still here and holding Weasel5828 12/15/10 11:12:52 AM
#4631   does anyone still own this stock......it is pretty jonesb 12/15/10 10:59:05 AM
#4630   Green Energy Management Announces AIRLOCK Water Efficiency Contract ALiVE 12/13/10 06:06:57 PM
#4629   I just noticed the website had a substantial Deep_C 12/07/10 02:13:55 PM
#4628   i hope you are correct. Meeting today jonesb 11/30/10 09:29:12 AM
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