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EXCEL - IDEA: XBRL DOCUMENT - BISON PETROLEUM, CORP.Financial_Report.xls
EX-31 - CERTIFICATION - BISON PETROLEUM, CORP.exhibit31.htm
EX-32 - CERTIFICATION - BISON PETROLEUM, CORP.exhibit32.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended January 31, 2012

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________to ________

Commission File Number: 000-52951

GREENCHOICE INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)

Nevada

42-1771342

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

527 – 18th Avenue NW
Calgary, AB T2M-0T6
(Address of principal executive offices) (Zip Code)

(403) 708-5469
(Registrant’s telephone number, including area code)


(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [x]     No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files)

Yes [X]     No [ ]




Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

[ ]

Accelerated filer

[ ]

Non-accelerated filer

[ ]

Smaller reporting company

[x]

(Do not check if a smaller reporting company)

  

  

  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [X]     No [  ]


APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date:  3,600,000 shares issued and outstanding as of January 31, 2012.





PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

It is the opinion of management that the interim financial statements for the period ended January 31, 2012, include all adjustments necessary in order to ensure that the interim financial statements are not misleading.

Our interim financial statements are stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles.

















GREENCHOICE INTERNATIONAL, INC.

 (A DEVELOPMENT STAGE COMPANY)

CONDENSED FINANCIAL STATEMENTS (UNAUDITED)


JANUARY 31, 2012



































GREENCHOICE INTERNATIONAL, INC.

 (A DEVELOPMENT STAGE COMPANY)

INDEX TO CONDENSED FINANCIAL STATEMENTS

(UNAUDITED)


          Page(s)


     Balance Sheets as of January 31, 2012 and April 30, 2011                  

      

 1

         


    Condensed Statements of Operations and Comprehensive Loss

       for the Three and Nine Months Ended January 31, 2012 and 2011    

       with Cumulative Totals Since Inception

      2

                

    Condensed Statements of Cash Flows for the Nine Months Ended

        January 31, 2012 and 2011, with Cumulative Totals Since Inception

      3  

 

           

         

    Notes to Condensed Financial Statements

     4-8

   







































GREENCHOICE INTERNATIONAL, INC.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED BALANCE SHEETS



ASSETS

 

 

 

January 31,

 

April 30,

 

 

 

2012

 

2011

 

 

 

(Unaudited)

 

 

Current Assets

 

 

 

 

 

 

 

 

 

 

 

    Total Current Assets

 

 

                   -   

 

                      -   

 

 

 

 

 

 

TOTAL ASSETS

 

 

 $                  -

 

 $                     -

 

 

 

   

 

   

LIABILITIES AND STOCKHOLDERS' DEFICIT

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

Current Liabilities

 

 

 

 

 

  Accounts payable

 

 

 $          3,053

 

 $           13,642

  Loans from stockholder

 

 

           20,055

 

                6,006

 

 

 

 

 

 

      Total Current Liabilities

 

 

           23,108

 

              19,648

 

 

 

 

 

 

      Total Liabilities

 

 

           23,108

 

              19,648

 

 

 

 

 

 

STOCKHOLDERS' DEFICIT

 

 

 

 

 

  Common stock, par value $.001, 100,000,000 shares authorized and

 

 

 

 

 

   3,600,000 and 1,500,000 shares issued and outstanding at January 31, 2012

 

 

 

 

 

   and April 30, 2011, respectively

 

 

             3,600

 

                1,500

  Additional paid-in capital

 

 

           32,400

 

              13,500

  Deficit accumulated during the development stage

 

 

          (59,108)

 

             (34,648)

 

 

 

 

 

 

      Total Stockholders' Deficit

 

 

          (23,108)

 

             (19,648)

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

 

 

 $                -   

 

 $                   -   

















The accompanying notes are an integral part of the condensed financial statements.

1







GREENCHOICE INTERNATIONAL , INC.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - UNAUDITED




 

 

 

        Three Months

 

            Nine Months

 

Cumulative Totals

 

 

 

             Ended

 

               Ended

 

February 9, 2010

 

 

 

           January 31,

 

             January 31,

 

(Inception) to

 

 

 

2012

 

2011

 

2012

 

2011

 

January 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

Organizational expenses

 

$                -

 

$              -

 

$                -

 

$               -

 

$                      1,500

 

Office expenses

 

             89

 

              -

 

              89

 

               -

 

                           89

 

Accounting

 

        2,800

 

       2,500

 

       12,355

 

     10,300

 

27,255

 

Legal expenses

 

2,885

 

4,785

 

8,740

 

13,290

 

25,885

 

Outside services

 

1,561

 

              -

 

3,111

 

               -

 

3,111

 

Taxes and licenses

 

                -

 

          625

 

                -

 

          625

 

625

 

       Total Operating Expenses

 

        7,335

 

       7,910

 

       24,295

 

     24,215

 

                    58,465

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME AND (EXPENSE)

 

 

 

 

 

 

 

 

 

 

 

Interest and finance charges

 

                -

 

        (129)

 

          (158)

 

         (186)

 

(636)

 

Currency transaction loss

 

                -

 

              -

 

              (7)

 

               -

 

                           (7)

 

 

 

 

 

 

 

 

 

 

 

 

 

      Total other income and (expense)

 

                -

 

        (129)

 

          (165)

 

         (186)

 

                       (643)

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS APPLICABLE TO COMMON SHARES

 

 $    (7,335)

 

 $  (8,039)

 

 $  (24,460)

 

 $ (24,401)

 

 $               (59,108)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS PER BASIC AND DILUTED SHARES

 

 $      (0.00)

 

 $    (0.01)

 

 $      (0.01)

 

 $     (0.02)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF COMMON

 

 

 

 

 

 

 

 

 

    SHARES OUTSTANDING

 

3,600,000

 

1,500,000

 

2,920,652

 

1,500,000

 

 
























The accompanying notes are an integral part of the condensed financial statements.

2









GREENCHOICE INTERNATIONAL, INC.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED STATEMENTS OF CASH FLOWS – UNAUDITED


 

Nine Months

 

Cumulative Totals

 

Ended

 

February 9, 2010

 

January 31,

 

(Inception) to

 

2012

 

2011

 

January 31, 2012

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

   Net loss

 $      (24,460)

 

 $    (24,401)

 

 $                  (59,108)

 

 

 

 

 

 

  Changes in assets and liabilities

 

 

 

 

 

     Increase (decrease) in accounts payable

         (10,589)

 

           6,551

 

                        3,053

     Total adjustments

         (10,589)

 

           6,551

 

                        3,053

 

 

 

 

 

 

     Net cash (used in) operating activities

         (35,049)

 

       (17,850)

 

                     (56,055)

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

                    -

 

                  -

 

                                -

 

 

 

 

 

 

       Net cash (used in) investing activities

                    -

 

                  -

 

                                -

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

 

 

 

     Loans from stockholders

           14,049

 

           4,500

 

                      20,055

     Payments received on stock subscription

                    -

 

         13,350

 

                                -

     Sale of common stock

           21,000

 

                  -

 

                      36,000

 

 

 

 

 

 

       Net cash provided by financing activities

           35,049

 

         17,850

 

                      56,055

 

 

 

 

 

 

NET INCREASE (DECREASE) IN CASH

                    -

 

                  -

 

                                -

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS -

 

 

 

 

 

    BEGINNING OF PERIOD

                    -

 

                  -

 

                                -

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS - END OF PERIOD

 $                 -

 

 $               -

 

 $                             -




The accompanying notes are an integral part of the condensed financial statements.

3







GREENCHOICE INTERNATIONAL, INC.

 (A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

JANUARY 31, 2012


NOTE 1-

ORGANIZATION AND BASIS OF PRESENTATION


The condensed unaudited interim financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).  The condensed consolidated financial statements and notes are presented as permitted on Form 10-Q and do not contain information included in the Company’s annual statements and notes.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.  It is suggested that these condensed financial statements be read in conjunction with the April 30, 2011 audited financial statements and the accompanying notes thereto.  While management believes the procedures followed in preparing these condensed financial statements are reasonable, the accuracy of the amounts are in some respects dependent upon the facts that will exist, and procedures that will be accomplished by the Company later in the year.


These condensed unaudited financial statements reflect all adjustments, including normal recurring adjustments which, in the opinion of management, are necessary to present fairly the operations and cash flows for the periods presented.


GreenChoice International, Inc. (the Company) was incorporated on February 9, 2010 under the laws of the State of Nevada.  The business purpose of the Company is to market prefabricated log cabin type homes in countries outside North America.  The Company has selected April 30 as its fiscal year end.


NOTE 2-

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Development Stage Company


The Company is considered to be in the development stage as defined in ASC 915-10-20, “Development Stage Entity.”   The Company is devoting substantially all of its efforts to the execution of its business plan.


Use of Estimates


The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America may require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.  There are no such estimates included in these financial statements.




4







GREENCHOICE INTERNATIONAL, INC.

 (A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

JANUARY 31, 2012


NOTE 2-

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)


Cash and Cash Equivalents


Cash and cash equivalents consists principally of currency on hand, demand deposits at commercial banks, and liquid investment funds having a maturity of three months or less at the time of purchase.  The Company had no cash and cash equivalents as of January 31, 2012 or April 30, 2011.


Start-up Costs


In accordance with ASC 720-15-25, “Start-up Activities,” the Company expenses all costs incurred in connection with the start-up and organization of the Company.


Common Stock Issued For Other Than Cash


Services purchased and other transactions settled in the Company's common stock are recorded at the estimated fair value of the stock issued if that value is more readily determinable than the fair value of the consideration received.


Net Income or (Loss) Per Share of Common Stock


The Company follows financial accounting standards which provide for “basic” and “diluted” earnings per share.  Basic earnings per share is computed by dividing income or loss available to common shareholders by the weighted average shares outstanding for the period.  Diluted earnings per share reflects the potential dilution due to other securities outstanding which could affect the number of shares upon exercise.  The Company has no potentially dilutive securities such as options, warrants, or convertible bonds currently issued and outstanding.  Consequently basic and diluted shares are the same, as presented in the Condensed Statements of Operations and Comprehensive Loss.


Recently Enacted Accounting Standards


In June 2009 the FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”).  Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.  



5







GREENCHOICE INTERNATIONAL, INC.

 (A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

JANUARY 31, 2012


NOTE 2-

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)


Recently Enacted Accounting Standards (Continued)


Modifications to the ASC are accomplished by the issuance of Accounting Standards Updates (“ASU’s”).  The Company has evaluated ASU’s through No. 2011-12.  None of the updates for the period have applicability to the Company or their effect on the financial statements would not have been significant.


Office Space and Labor


The Company’s sole Officer and Director will provide the labor required to execute the business plan and supply the necessary office space and facilities during the initial period of operations.  The Company will recognize the fair value of services and office space so provided as contributed capital in accordance with ASC 225-10-S99-4.  From inception (February 9, 2010) through January 31, 2012, the fair value of services and office space provided are estimated to be nil.


NOTE 3-

PROVISION FOR INCOME TAXES


The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income regardless of when reported for tax purposes.  Deferred taxes are provided in the financial statements under ASC 740-10-65-1 to give effect to the temporary differences which may arise from differences in the bases of fixed assets, depreciation methods  and allowances based on the income taxes expected to be payable in future years.  Minimal development stage deferred tax assets arising as a result of net operating loss carry-forwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods.  Operating loss carry-forwards generated during the period from February 9, 2010 (date of inception) through January 31, 2012 of approximately $59,108 will begin to expire in 2030.  Accordingly, deferred tax assets of approximately $20,688 were offset by the valuation allowance.

 

The Company has no tax positions at January 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.


The Company recognizes interest accrued relative to unrecognized tax benefits in interest expense and penalties in operating expense.  During the period from February 9, 2010 (inception) to January 31, 2012 the Company recognized no income tax related interest and penalties.  The Company had no accruals for income tax related interest and penalties at January 31, 2012.  All tax years starting from 2010 are open for examination.  

6







GREENCHOICE INTERNATIONAL, INC.

 (A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

JANUARY 31, 2012


NOTE 4 -

STOCKHOLDERS’ DEFICIT


Common Stock


As of January 31, 2012 the Company has 100,000,000 shares of common stock authorized, par value of $.001 per share, with 3,600,000 shares issued and outstanding.


The following details the stock transactions for the Company:


On February 10, 2010 the Company authorized the sale of 1,500,000 shares of its common stock to its founding president for $.01 per share for a total of $15,000 cash to provide initial working capital.  The stock subscription was fully paid as of June 11, 2010.


On May 18, 2011 the Company received paid subscriptions for 500,000 shares at $0.01 per share for a total of $5,000.  The proceeds were used for administrative expenses.


On July 14, 2011 the Company received paid subscriptions for another 500,000 shares at $0.01 per share for $5,000 which was used for administrative expenses.  During August, September, and October 2011, the Company sold 1,100,000 shares at $0.01 per share for proceeds of $11,000 to be used for administrative expenses.  


The offering included in the Company’s S-1 filing is closed and all certificates were issued as of October 31, 2011.


NOTE 5 -

LOANS FROM STOCKHOLDERS


The Company’s President and sole director has advanced funds for organizational and administrative expenses.  The total of these advances as of January 31, 2012, is $16,006.  Another stockholder has advanced funds for administrative expenses totaling $4,049 as of January 31, 2012.  The loans are unsecured and payable on demand.  Consequently, the loans are reported as current liabilities.


NOTE 6 -

FOREIGN CURRENCY TRANSLATION


Since the Company operates in Canada there is potential for transactions in Canadian dollars.  As of January 31, 2012, the only transactions were  $7 net expense from conversion of Canadian currency paid for stock.  Assets and liabilities, if denominated in Canadian dollars, are revalued to United States dollars as of the reporting date.  The effect of such change in exchange rates is reported as a Cumulative Currency Translation Adjustment and included in Other Comprehensive Gains or (Losses) which, to date, have been normal.

7







GREENCHOICE INTERNATIONAL, INC.

 (A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

JANUARY 31, 2012


NOTE 7 -

GOING CONCERN


The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which contemplates continuation of the Company as a going concern.  The Company  has incurred an operating deficit since its inception, is in the development stage and has generated no operating revenue. These items raise substantial doubt about the Company’s ability to continue as a going concern.  In view of these matters, realization of the assets of the Company is dependent upon the Company’s ability to meet its financial requirements through equity financing and the success of future operations.  These financial statements do not include adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.


NOTE 8 -

SUBSEQUENT EVENTS


The Company has evaluated events from January 31, 2012 through the date the financial statements were issued.  There are no subsequent events required to be reported.





















8










Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

This quarterly report contains forward-looking statements.  These forward-looking statements relate to future events or our future financial performance.  In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential” or “continue” or the negative of these terms or other comparable terminology.  These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled  “Risk Factors”, that may cause our company’s or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.  Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our interim financial statements are stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles. The following discussion should be read in conjunction with our interim financial statements and the related notes that appear elsewhere in this quarterly report.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars.  All references to “common shares” refer to the common shares in our capital stock.  As used in this quarterly report, the terms “we”, “us” and “our” refer to GreenChoice International, Inc.

Overview

We were incorporated in the State of Nevada as GreenChoice International, Inc. on February 9, 2010.  Our fiscal year end is April 30.  We are a start-up stage company still in the development stage.  We are a company without revenues; we have minimal assets and have incurred losses since inception.  GreenChoice intends to market prefabricated log cabin style housing components to the Asian market.  We will do this by establishing relationships with firms in Asia that are already established and successful in the housing construction industry.   


GreenChoice is building a business as a marketer or reseller of log cabin style pre-fabricated buildings and peeled and sized logs.  What we are referring to as  pre-fabricated log cabin style buildings will include all wood and wood products necessary to build the floor(s), outer log shell, wood partition materials, the wood roof structure, deck and wood shingles.  We use the term pre-fabricated because all materials supplied by the Company will arrive at the building site in a substantially completed form ready for final fitting and assembly.


GreenChoice will not be responsible for concrete footings, grade beams or foundations of any type.  Nor will the Company be responsible for supplying plumbing, heating, air conditioning, ventilation, electrical, windows, doors, floor coverings or finishing materials of any type.  Interior finishing options will be the responsibility of the customer.  Provision of the building lot, permits, government approvals or licenses, sewer, water or other services or utilities, insurance and all on-site labor will not be the responsibility of GreenChoice.


We intend to build working relations with established construction firms in Asia to make these North American designed and fabricated structures and peeled and sized logs available to the Asian market.  The Company President, Merlyn Kirk, has relatives, family friends and business contacts that live, work and do business in Asia.  He intends to use these contacts to help build his own network and establish the GreenChoice brand in Asia.  Mr. Kirk plans on using his existing network of Asian contacts to identify builders groups and trade associations, as well as a list of construction companies that have experience with wood frame construction.  After further research and communications with these contacts, the Company intends to develop a short list of organizations and individuals with whom to meet directly.  The Company expects to have meetings scheduled with potential commercial customers by the end of the current calendar year.  The Company President plans on traveling to Asia early in 2012 to meet commercial customers, build working relations and introduce the GreenChoice brand.  The Company also expects to secure a supplier, develop its website and create printed promotional materials in mid-2012.









At present, GreenChoice does not have an agreement with a North American manufacturer to supply logs, log house components or pre-fabricated structures.  Our President, through his Canadian company doing business as Summit Log Homes, has a longstanding working relationship with a North American supplier.  GreenChoice intends to purchase its raw materials from this or one of the other many suppliers with whom the Company President is familiar.  The products typically available from North American suppliers are substantially complete and require only a limited amount of  final fitting to be completed on site.  Due to the nature and characteristics of log cabin components, pre-fabrication does not involve the pre-fabrication of wall units or roof trusses, as is the case with conventional wood frame building components.  Rather, the logs are milled to a standardized diameter and length at the factory, and then sent to the construction site where the final fitting, milling and placement occurs.  Detailed work such as finalizing window, door and room sizes is also completed as part of the on-site milling and finishing process.  Putting together the pre-fabricated package at the log suppliers’ facility involves gathering and assembling properly sized logs and sending these stock sized logs to the construction site for assembly.  The pre-fabricated log cabin does not resemble anything close to the conventional pre-fabricated North American home in terms of detail and fine finish.  The log cabin is a rustic structure made of sturdy log components fashioned in a very simple design. The Company President has a long standing history and considerable experience in sales and distribution of log buildings in western Canada.  The Company intends to conclude formal discussions with a product supplier in mid-2012.


GreenChoice will provide a website with a full catalogue, specifications and other information to fully inform potential customers.  While the Company will offer a full range of stock plans built to specification, customers will also be able to make changes or have structures custom designed and built.  The Company’s President has a log display home situated in western Canada.  The Company intends to provide a virtual on-line tour of the home which will be made available on the Company’s website when the website is completed.  The Company expects to have the website operational in mid- 2012.


In the early stages of development, GreenChoice anticipates there will be an opportunity to earn limited revenues from the sale of consulting services to Asian construction and development companies.  The Company expects it will take between one and two years before it will earn revenues from the sale of prefabricated log structures or building components.

Results of Operations

The following table summarizes our operating results for the three and nine months ended January 31, 2012:

 

 

Three Months Ended January 31, 2012

 

Three Months Ended January 31, 2011

 

Nine Months Ended January 31, 2012

 

Nine Months Ended January 31, 2012

 

February 9, 2010 (Inception) to January 31, 2012

Revenue

$

-

$

-

$

-

$

-

$

-

Operating Expenses

$

7,335

$

7,910

$

24,295

$

24,215

$

58,465

Net Loss

$

(7,335)

$

(8,039)

$

(24,460)

$

(24,401)

$

(58,465)

Three Months Ended January 31, 2012

Operating and General & Administrative Expenses


For the three month period ended January 31, 2012, the Company has incurred expenses totaling $7,335, compared to $7,910, for the three month period ended January 31, 2011, consisting primarily of accounting and legal expenses.  The Company had expenses of $58,465 for the period from inception (February 9, 2010) to January 31, 2012.


Income Taxes

At January 31, 2012, the Company had no income.  We have not generated income since inception.


Capital and Liquidity

We have no cash assets at January 31, 2012, no cash assets as of the year ended April 30, 2011.  We have only common stock as our capital resource.  We will be reliant upon shareholder loans or private placements of equity to fund any kind of operations.  We have secured no sources of loans.









Long-Term Debt

At January 31, 2012, and for the year ended April 30, 2011, the Company had no long-term debt.  We may borrow money in the future to finance our future operations.  Any such borrowing will increase the risk of loss to the investor in the event we are unsuccessful in repaying such loans.

Nine Months Ended January 31, 2012

Operating and General & Administrative Expenses


For the nine month period ended January 31, 2012, the Company has incurred expenses totaling $24,295, compared to $24,215, for the nine month period ended January 31, 2011, consisting primarily of accounting and legal expenses.  


Going Concern

There is substantial doubt about our ability to continue as a going concern as the continuation of our business is dependent upon the continued financial support from our stockholders, our ability to obtain necessary equity financing to continue operations, and achieving a profitable level of operations.  The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders.  Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

Because we have a working capital deficit, have generated minimal revenues, and have incurred losses from operations since inception, in their report on our audited financial statements for the year ended April 30, 2011, our independent auditors included an explanatory paragraph regarding substantial doubt about our ability to continue as a going concern.  Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors.

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 is material to our stockholders.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

Item 4. Controls and Procedures.

Evaluation of Controls and Procedures


We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Securities Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our management, including our chief executive and financial officer, to allow timely decisions regarding required disclosure.  In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, as ours are designed to do, and management necessarily was required to apply its judgment in evaluating the cost- benefit relationship of possible controls and procedures.


As of January 31, 2012, an evaluation was performed under the supervision and with the participation of our management, including our chief executive and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based upon that evaluation, our chief executive and principal financial officer concluded that our disclosure controls and procedures were effective.








Changes in Internal Controls

There have been no changes in the Company's internal controls over financial reporting that occurred during the Company's last fiscal quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting, except that the Company increased its internal controls around the issuance and recording of common stock sales.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

We know of no material, active or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation.  There are no proceedings in which our director and officer, or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

None.

Item 6. Exhibits.

Exhibit

  

Number

Description

  

  

31

Section 302 Certification of Merlyn Kirk

 

  

32

Section 906 Certification of Merlyn Kirk

 

 

101

XBRL Exhibits*


*  XBRL Information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended and otherwise is not subject to liability under these sections.










SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

GREENCHOICE INTERNATIONAL, INC.

By:

/s/ Merlyn Kirk

 

 

Merlyn Kirk

 

 

President, Secretary, Treasurer

 

 

(Principal Executive Officer, Principal Financial Officer

 

 

and Principal Accounting Officer)

 

 

Date: March 13, 2012