Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. Evergreen-Agra Global Investments, Inc. (1438673) 10-Q published on Nov 29, 2017 at 9:04 am
On July 20, 2017, the Company borrowed $28,000 from an investor and agreed to pay back in $35,000 on August 31, 2017. The Company did not pay this short-term loan yet and the loan is in default.
For the three months ended September 30, 2017 and 2016, we had no revenues. Total operating expenses increased $315,231 from a gain of $476 in 2016 to $314,755 in 2017. Stock-based compensation increased $210,000 from $0 in 2016 to $210,000 in 2017. General and administrative expenses increased $73,696 from $7,303 in 2016 to $80,999 in 2017 due to higher consulting and professional fees and other general and administrative expenses in 2017 as a result of our effort to bring back the business. Consulting fee was increased $26,573 from $0 to $26,573 in 2017. Professional fee was increased $10,433 from $6,017 in 2016 to $16,450 in 2017. Other general and administrative expenses was increased in $36,690 from 1,286 in 2016 to $37,976 in 2017. Foreign exchange loss increased $31,535 from a gain of $7,779 in 2016 (resulting from an increase in the Canadian Dollar exchange rate used to translate our liabilities denominated in Canadian Dollars to United States Dollars) to a loss of $23,756 in 2017 (resulting from a decrease in the Canadian Dollar exchange rate).
For the nine months ended September 30, 2017 and 2016, we had no revenues. Total operating expenses decreased $527,705 from $967,163 in 2016 to $439,458 in 2017. Total stock-based compensation decreased $578,994 from $866,994 in 2016 as a result of the issuance of 17,339,889 shares of Company common stock to Matthew Rhoden on February 25, 2016 pursuant to an Executive Agreement dated January 4, 2016 to $288,000 in 2017. General and administrative expenses increased $39,954 from $67,351 in 2016 to $107,305 in 2017. Among increased general and administrative expenses, rent expense increased $27,000 in 2017 compared $0 in 2016, other general and administrative expenses was increased in $29,060 from 8,222 in 2016 to $37,282 in 2017. Foreign exchange loss increased $11,335 from a loss of $32,818 in 2016 (resulting from a decrease in the Canadian Dollar exchange rate used to translate our liabilities denominated in Canadian Dollars to United States Dollars) to a loss of $44,153 in 2017 (resulting from a decrease in the Canadian Dollar exchange rate).
Stock-based costs relating to terminated acquisitions of Green-Era Consulting and Med-Care Advisors was $150,000 in 2017 compared to $0 in 2016. Interest expense increased from $0 in 2016 to $7001 in 2017 resulted from a short-term loan borrowed in 2017.
Net loss decreased $370,704 from a net loss of $967,163 in 2016 to a net loss of $596,459 in 2017. The decrease was due to the $578,994 decrease in stock-based compensation, offset by $39,954 increase in general and administrative expenses, $11,335 increase in foreign exchange loss, $150,000 increase in stock-based terminated acquisition cost and $7,001 increase loan interest explained above.