Green Planet Bio Engineering reports going concern doubt as a shell company reliant on related-party funding.
SEC EDGAR, 2026-11-13: 10-Q — "substantial doubt"
Green Planet Bio Engineering reports going concern doubt as a shell company reliant on related-party funding.
Company: Green Planet Bio Engineering Co. Ltd. (GPLB) Filed: 2026-11-13, 10-Q (Item none) Phrase: "substantial doubt" — "This gives rise to substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance date of this filing." What the filing says: The company is currently a public reorganized shell corporation with no active business operations and no cash. As of September 30, 2026, it has a working capital deficit of $526,265, an accumulated deficit of $1,155,885, and a net loss of $25,289 for the nine months then ended. The company relies entirely on interest-free, unsecured, demand-repayable advances from a related party of its majority stockholder (Global Funds) to pay its operating expenses, which totaled $522,415 as of September 30, 2026. Two ways it goes: A. The company identifies a profitable business opportunity and secures funding to execute a merger or acquisition. B. The related party ceases funding operating expenses and the company is unable to continue as a going concern. Next date: none named Watch: A filing or press release announcing a definitive merger or acquisition agreement, or a demand for repayment of the related-party debt. Tags: going concern