GREEN BUILDERS, INC
QUARTER ENDING JUNE 30, 2010
ITEM 1.
EXACT NAME OF ISSUER AND ADDRESS OF ITS PRINCIPAL OFFICERS
ITEM 2.
SHARES OUTSTANDING
ITEM 3.
INTERIM FINANCIAL STATEMENTS
2
ITEM 1.
EXACT NAME OF ISSUER AND ADDRESS OF ITS PRINCIPAL OFFICERS
Green
Builders,
Inc.
8121
Bee
Cave
Rd.
Austin,
TX
78746
512-732-0932
ITEM 2.
SHARES OUTSTANDING
As of June 30, 2010 there are:
100,000,000
common
shares
authorized
22,848,510 common shares issued and outstanding
3
June 30, 2010
Cash and cash equivalents
$
535,834
Inventory
Land and land development
10,029,612
Homebuilding inventories
935,356
Total inventory
10,964,968
Other assets
113,528
Debt issuance costs, net of amortization
613,435
Property, and equipment, net of accumulated depreciation and amortization
80,703
Total assets
$
12,308,468
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable
$
715,524
Accrued real estate taxes payable
171,843
Accrued liabilities and expenses
437,414
Accrued interest
1,079,315
Deferred revenue
14,303
Notes payable
6,413,876
Subordinated convertible debt, net of $1,709,763 discount
14,790,237
Total liabilities
23,622,512
STOCKHOLDERS' DEFICIT
Common stock, $0.001 par value, 100,000,000 shares authorized and
22,848,510 issued and outstanding
22,849
Additional paid in capital
28,112,743
Retained deficit
(39,449,635)
Total stockholders' deficit
(11,314,043)
Commitments and contingencies
-
Total liabilities and stockholders' deficit
$
12,308,469
GREEN BUILDERS, INC.
Balance Sheet
As of June 30, 2010
(Unaudited)
4
YTD Ended
June 30, 2010
Revenues:
Homebuilding and related services
$
6,741,169
Land sales
2,488,311
Remodeling sales
87,754
Total revenues
9,317,234
Cost of revenues:
Homebuilding and related services
5,814,116
Land sales
1,995,923
Remodeling sales
68,819
Inventory impairments and land option cost w
37,968
Total cost of revenues
7,916,826
Total gross profit
1,400,408
Costs and expenses:
Corporate general and administration
1,183,739
Sales and marketing
1,491,982
Total costs and expenses
2,675,721
Operating loss
(1,275,313)
Other income (expense):
Gain on restrucured debt
1,672,353
Interest and other income
27,523
Interest expense
(1,806,275)
Total other expense
(106,399)
Income before income taxes
(1,381,712)
Basic and diluted loss per share
(0.06)
Basic and diluted weighted average
common shares outstanding
23,035,404
GREEN BUILDERS, INC.
Statements of Operations
YTD Ended June 30, 2010
(Unaudited)