Green Global Investments Inc fka CREO

[AliAngel]

China Renewable Energy Holdings, Inc. and Subsidiaries

(A Development Stage Company)

Consolidated Balance Sheets

(Unaudited)










As of

As of



June 30, 2009

December 31, 2008

ASSETS











Current Assets





Cash
$
166,282
$
223,263

Deposits

5,108

5,546

Accounts receivable

55,772

3,225

Deferred charges

44,559

33,540



271,721

265,574







Fixed Assets, net

13,831

8,349







Total Assets

285,552

273,923







LIABILITIES AND STOCKHOLDERS' EQUITY







Current Liabilities





Accounts Payable
$
1,974
$
22,774

Loan Payable

96,773

-

Note payable-stockholder

132,376

10,000

Accrued Interest

12,144

800

Accrued Expenses

41,022

56,502



284,289

90,076







Stockholders' Equity





Preferred stock, $0.001 par value, 10,000,000 shares





authorised, none issued and outstanding

-

-

Common stock, $0.001 par value; 100,000,000 shares





authorised, 24,580,000 shares issued





and outstanding

24,580

24,580

Additional paid-in capital

684,483

684,483

Subscription receivable

-

(5,907)

Other comprehensive income

240

1,162

Deficit accumulated during the development stage

(708,040)

(520,471)

Total Stockholders' Equity

1,263

183,847







Total Liabilities and





Stockholders' Equity
$
285,552
$
273,923









See accompanying notes to financial statements




4








--------------------------------------------------------------------------------

China Renewable Energy Holdings, Inc. & Subsidiaries

(A Development Stage Company)

Consolidated Statements of Cash Flows

(Unaudited)



















For the Period from




For the six months ended June 30,
December 17, 1999




2009

2008
(Inception) to June 30,2009










Cash Flows From Operating Activities:








Net Loss

$
(187,569)
$
(172,510)
$
(680,827)

Add : Losses from pre-acquisition operations


-

-

(27,213)

Total Net Loss


(187,569)

(172,510)

(708,040)

Adjustments to reconcile net loss to net cash used in








operations :-








Depreciation


1,886

32

2,899

Change in operating assets and liabilities:








Decrease in cash advanced


6,594

-

-

(Increase) in accounts receivable


(52,547)

-

(55,773)

Decrease (Increase) in deposits


438

-

(5,107)

(Increase) in prepaid expenses


(17,613)

(18,489)

(44,558)

Decrease in subscription receivable


5,907

-

-

Deferred financing costs


-

3,361

-

(Decrease)Increase in accrued expenses


(4,136)

28,405

53,166

(Decrease)Increase in accounts payable


(20,800)

-

1,974

Net Cash Used In Operating Activities


(267,840)

(159,201)

(755,439)










Cash Flows From Investing Activities :








Purchase of fixed assets


(7,368)

(4,507)

(16,731)

Net Cash Used in Investing Activities


(7,368)

(4,507)

(16,731)










Cash Flows From Financing Activities :








Note payable-stockholder


122,376

-

132,376

Proceeds from other loan


96,773

-

96,773

Proceeds from stockholder loan


-

-

4,884

Repayment of stockholder loan


-

-

(4,884)

Proceeds from issuance of common stock


-

661,281

709,063

Net Cash Provided by Financing Activities


219,149

661,281

938,212










Net Increase(Decrease) in Cash prior to effect of








Foreign currency transactions


(56,059)

497,573

166,042

Foreign currency effect on cash flows


(922)

722

240

Net Increase(Decrease) in cash


(56,981)

498,295

166,282

Cash at Beginning of Period/Year


223,263

17,987

-

Cash at End of Period/Year

$
166,282
$
516,282
$
166,282