Green Planet Bioengineering Reports No Revenue and Narrowed Losses for 2024

Green Planet Bioengineering Co., Ltd. reported no operating revenues for the fiscal years ending December 31, 2024, and 2023, maintaining its status as a public reorganized shell corporation. The company incurred total expenses of $35,544 in 2024, a decrease from $47,670 in 2023, primarily attributed to reduced administrative costs. The net loss for the year was $35,544, compared to a loss of $47,670 in the previous year, indicating a narrowing of losses as the company continues to seek viable business opportunities.

The company’s financial position remains precarious, with total liabilities increasing to $465,134 as of December 31, 2024, up from $429,590 in 2023. This increase is largely due to amounts due to a related party, which rose to $459,634 from $424,590. Green Planet has no current business operations and relies on financial support from Global Funds Holdings Corp., its majority stockholder, to cover its operational expenses. The company’s accumulated deficit has also grown to $1,094,754, up from $1,059,210 in the prior year.

In terms of operational metrics, Green Planet has not reported any significant changes in customer counts or product adoption rates, as it has not engaged in active business operations. The company continues to hold 20,006,402 shares of common stock, with no new shares issued during the reporting period. The lack of a trading market for its common stock further complicates its financial outlook, as the company has not paid dividends and does not anticipate doing so in the foreseeable future.

Looking ahead, Green Planet's ability to execute its business plans is contingent upon securing adequate financing and identifying profitable business opportunities. The company acknowledges that without such funding, it may face delays in its strategic initiatives. The management has expressed that the financial statements have been prepared under the assumption that the company will continue as a going concern, although there is substantial doubt regarding its ability to sustain operations without continued support from its majority stockholder.

Overall, Green Planet Bioengineering Co., Ltd. remains in a challenging financial position, with no active business operations and a reliance on external funding to navigate its future. The company’s management continues to evaluate potential business opportunities while managing compliance with regulatory requirements as a public entity.