We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
ABCO Energy Inc (CE) | USOTC:ABCE | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
Nevada
|
20-1914514
|
(State of Incorporation)
|
(IRS Employer Identification No.)
|
2100 North Wilmot #211, Tucson, AZ
|
85712
|
(Address of principal executive offices)
|
(Zip Code)
|
Registrant’s telephone number, including area code:
|
520-777-0511
|
Large accelerated filer
☐
|
|
Accelerated filer
☐
|
|
|
|
Non-accelerated filer
☐
|
|
Smaller Reporting Company
☐
|
|
|
|
Emerging growth company
☒
|
|
|
PART I – FINANCIAL INFORMATION
|
|
|
|
3
|
|
|
|
14
|
|
|
|
16
|
|
|
|
16
|
|
|
|
PART II. OTHER INFORMATION
|
|
|
|
16
|
|
|
|
16
|
|
|
|
16
|
|
|
|
16
|
|
|
|
16
|
|
|
|
16
|
|
|
|
18
|
|
|
|
19
|
4
|
|
|
|
5
|
|
|
|
6
|
|
|
|
7
|
ASSETS
|
March 31, 2018
Unaudited
|
December 31, 2017
Audited
|
||||||
Current Assets
|
||||||||
Cash
|
$
|
33,458
|
$
|
5,046
|
||||
Accounts receivable on completed projects
|
56,807
|
46,985
|
||||||
Billings in excess of costs on contracts in progress
|
21,617
|
(83,813
|
)
|
|||||
Inventory
|
38,156
|
38,127
|
||||||
Total Current Assets
|
150,038
|
6,345
|
||||||
Fixed Assets
|
||||||||
Vehicles, office furniture & equipment – net of accumulated depreciation
|
20,327
|
21,941
|
||||||
Other Assets
|
||||||||
Investment in long term leases
|
11,094
|
11,281
|
||||||
Security deposits
|
2,700
|
2,700
|
||||||
Total Other Assets
|
13,794
|
13,981
|
||||||
Total Assets
|
$
|
184,159
|
$
|
42,267
|
||||
|
||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||
Current liabilities
|
||||||||
Accounts payable and accrued expenses
|
$
|
552,388
|
$
|
496,991
|
||||
Convertible debentures – net of discount
|
163,306
|
187,236
|
||||||
Derivative liability on convertible debentures
|
166,925
|
178,013
|
||||||
Notes payable – merchant loans
|
29,003
|
96,338
|
||||||
Note payable – non-affiliate
|
60,000
|
-
|
||||||
Notes payable – related parties
|
171,029
|
187,826
|
||||||
Total Current Liabilities
|
1,
142,651
|
1,146,404
|
||||||
|
||||||||
Long term debt, net of current portion
|
-
|
-
|
||||||
Total Liabilities
|
1,142,651
|
1,146,404
|
||||||
|
||||||||
Commitments and contingencies
|
0
|
0
|
||||||
|
||||||||
Stockholders’ Deficit:
|
||||||||
Preferred stock
, 100,000,000 shares authorized, $0.001 par value, and 15,000,000 share
s
issued and outstanding at March 31, 2018 and 15,000,000 at December 31, 2017.
|
15,000
|
15,000
|
||||||
Common stock
,
2,000,000,000 shares authorized, $0.001 value, 161,459,560 and
125,029,647 Issued and outstanding at March 31, 2018 and December 31,
2017, respectively.
|
161,459
|
125,030
|
||||||
Common shares sold not issued
51,903,507 at March 31, 2018 and 37,108,753 at March 31, 2017
|
51,904
|
37,109
|
||||||
Additional paid-in capital
|
3,3
60,135
|
3,258,887
|
||||||
Accumulated deficit
|
(4,
5
46,990
|
)
|
(4,540,163
|
)
|
||||
Total Stockholders’ Deficit
|
(95
8,492
|
)
|
(1,104,137
|
)
|
||||
Total Liabilities and Stockholders’ Deficit
|
$
|
1
84,159
|
$
|
42,267
|
|
March 31, 2018
|
March 31, 2017
|
||||||
|
||||||||
Revenues
|
$
|
522,295
|
$
|
212,806
|
||||
|
||||||||
Cost of Sales
|
328,378
|
190,369
|
||||||
|
||||||||
Gross Profit
|
193,917
|
22,437
|
||||||
|
||||||||
Operating Expenses:
|
||||||||
Payroll expense
|
84,718
|
64,029
|
||||||
Consulting expense
|
13,679
|
6,759
|
||||||
Corporate expense
|
1,611
|
9,466
|
||||||
Professional fees
|
6,180
|
7,090
|
||||||
Rent
|
9,113
|
6,604
|
||||||
Other expense
|
44,635
|
61,228
|
||||||
Total operating expense
|
159,936
|
155,176
|
||||||
|
||||||||
Net income (Loss) from operations
|
33,981
|
(132,739
|
)
|
|||||
|
||||||||
Other expenses
|
||||||||
Interest on notes payable
|
8,474
|
16,189
|
||||||
Change in Derivative (Gain) Loss
|
64,882
|
(72,486
|
)
|
|||||
Finance Fees – derivatives
|
6,807
|
63,094
|
||||||
Gain on extinguishment of debt
|
(39,355
|
)
|
-
|
|||||
Total other (income) expenses
|
40,808
|
6,797
|
||||||
|
||||||||
Net income (Loss) before provision for income taxes
|
(
6,827
|
)
|
(139,536
|
)
|
||||
|
||||||||
Provision for income tax
|
-
|
-
|
||||||
|
||||||||
Net income (loss)
|
$
|
(
6,827
|
)
|
$
|
(139,536-
|
)
|
||
|
||||||||
Net income (loss) Per Share (Basic and Fully Diluted)
|
$
|
(
.01
|
)
|
$
|
(.01
|
)
|
||
|
||||||||
Weighted average number of common shares used in the calculation
|
168,467,567
|
34,262,574
|
|
March 31,
|
March 31,
|
||||||
|
2018
|
2017
|
||||||
Cash Flows from Operating Activities:
|
||||||||
Net income (loss)
|
$
|
(6,827
|
)
|
$
|
(139,536
|
)
|
||
Adjustments to reconcile net income (loss) to net cash used in operating activities:
|
||||||||
Depreciation
|
1,614
|
2,899
|
||||||
Inventory change
|
(29
|
)
|
22
|
|||||
Gain on extinguishment of debt
|
(39,355
|
)
|
||||||
Amortization of debt discount
|
2,311
|
192,379
|
||||||
Change in derivative liability
|
64,556
|
106,196
|
||||||
Change in derivative valuation
|
-
|
(72,486
|
)
|
|||||
Changes in Accounts receivable
|
(9,822
|
)
|
27,200
|
|||||
Billings in excess of costs on incomplete projects
|
(105,430
|
)
|
(111,002
|
)
|
||||
Accounts payable and accrued expenses
|
55,398
|
(51,211
|
)
|
|||||
Net cash used in operating activities
|
(37,584
|
)
|
(45,539
|
)
|
||||
|
||||||||
Cash Flows from Investing Activities:
|
||||||||
Proceeds from investments in long term leases
|
187
|
865
|
||||||
Net cash provided by (used for) investing activities
|
187
|
865
|
||||||
|
||||||||
Cash Flows from Financing Activities:
|
||||||||
Proceeds from sale of common stock – net of expenses
|
50,586
|
64,868
|
||||||
Merchant loans – net of principal payments
|
(11,579
|
)
|
||||||
Proceeds of related party notes payable
|
(16,797
|
)
|
(176
|
)
|
||||
Proceeds from non-affiliate loan
|
60,000
|
-
|
||||||
Payments on debt
|
(27,980
|
)
|
(1,407
|
)
|
||||
Net cash provided by financing activities
|
65,809
|
51,706
|
||||||
|
||||||||
Net increase (decrease) in cash
|
28,412
|
7,032
|
||||||
Cash, beginning of period
|
5,046
|
12,534
|
||||||
Cash, end of period
|
$
|
33,458
|
$
|
19,566
|
Cash paid for interest
|
$
|
15,281
|
$
|
16,189
|
||||
Income taxes paid or accrued
|
$
|
-
|
$
|
-
|
Sales Product and Services Description
|
2018
|
2017
|
||||||||||||||
Solar PV residential and commercial sales
|
$
|
447,523
|
86
|
%
|
$
|
163,506
|
76
|
%
|
||||||||
Energy efficient lighting & other income
|
74,522
|
13
|
%
|
49,066
|
23
|
%
|
||||||||||
Interest Income
|
250
|
1
|
%
|
234
|
1
|
%
|
||||||||||
Total revenue
|
$
|
522 295
|
100
|
%
|
$
|
212,806
|
100
|
%
|
Description
|
March 31, 2018
|
December 31, 2017
|
||||||
Demand note Perfectly Green Corp (1)
|
$
|
60,000
|
$ | |||||
Merchant Note payable to Web Bank, borrowed 2-1-16, bearing interest at 23% per annum, unsecured. (2) Settled by negotiated payment in 2018
|
-
|
69,854
|
||||||
Merchant Note payable to Quarterspot Lending, borrowed 6-27-16, bearing interest at 31% per annum, unsecured. (3) Settled by negotiated payment in 2018
|
-
|
26,484
|
||||||
Veritas settlement of the Web Bank and Quarterspot notes
|
29,003
|
|||||||
Total
|
$
|
99,003
|
$
|
96,338
|
|
March 31, 2018
|
December 31, 2017
|
||||||
Derivative Liabilities from Convertible Notes (Level 3)
|
$
|
166,925
|
$
|
178,013
|
Description of shares
|
March 31, 2018
Shares
|
Full Value of
unissued shares
|
Par value
of shares
|
December 31, 2017
Shares
|
Full value of
unissued shares
|
Par Value
of shares
|
||||||||||||||||||
Common shares sold and issued
|
161,459,560
|
$ |
$
|
161,459
|
125,029,647
|
$ |
$
|
125,030
|
||||||||||||||||
Common shares sold and not yet issued
|
51,903,507
|
103,424
|
51,904
|
37,108,753
|
60,885
|
37,109
|
||||||||||||||||||
Total common shares
|
213,363,067
|
$
|
103,424
|
$
|
213,363
|
162,138,400
|
$
|
60,885
|
$
|
162,139
|
Holder
|
Date
of Loan
|
Loan
amount
|
OID and
discounts
and fees
|
Interest
rate
|
Conversions to
shares
|
Conversion
Dollars
|
Balance
March 31,
2018
|
Balance
December 31,
2017
|
||||||||||||||||||||||||
Blackbridge Capital Growth Fund, LLC
|
11-2-16
|
$
|
100,000
|
$
|
0
|
7
|
%
|
15,000,000
|
$
|
21,850
|
$
|
78,150
|
$
|
92,525
|
||||||||||||||||||
Crown Bridge Partners, LLC
|
1-11-17
|
$
|
45,000
|
$
|
5,000
|
5
|
%
|
17,198
,000
|
$
|
19,387
|
$
|
25,613
|
$
|
39,021
|
||||||||||||||||||
Power Up Lending Group, Ltd
|
11-11-17
|
$
|
58,000
|
$
|
3,000
|
8
|
%
|
None
|
None
|
$
|
58,000
|
$
|
58,000
|
|||||||||||||||||||
Total
|
$
|
203,000
|
$
|
8,000
|
$
|
161,763
|
$
|
189,546
|
||||||||||||||||||||||||
Debt discount on derivatives
|
-
|
2,310
|
||||||||||||||||||||||||||||||
Net total debentures
|
$
|
161,763
|
$
|
187,236
|
Description
|
March 31,
2018
|
December 31,
2017
|
||||||
Purchase price of the three convertible debentures
|
$
|
203,000
|
$
|
203,000
|
||||
Valuation premium on notes during 2017
|
36,075
|
24,987
|
||||||
Balance of derivative liability net of discount on the two notes (See Consolidated Balance sheet liabilities)
|
$
|
166,925
|
$
|
178,013
|
Year Ending
December 31:
|
Actual
Total Loss (income)
|
Less
Derivative expense
|
Less
Stock Based Compensation
|
Net Tax loss
subject to carry over
|
||||||||||||
2038
|
$
|
6,827
|
|
71,689
|
-
|
(
64,862
|
)
|
|||||||||
2037
|
599,936
|
$
|
41,289
|
$
|
81,400
|
$
|
477,247,
|
|||||||||
2036
|
1,923,384
|
1,006,154
|
917,230
|
|||||||||||||
2035
|
214,823
|
214,823
|
||||||||||||||
2034
|
635,517
|
635,517
|
||||||||||||||
2033
|
622,474
|
622,474
|
||||||||||||||
2032
|
230,224
|
230,224
|
||||||||||||||
2031
|
182,908
|
182,908
|
||||||||||||||
2030
|
130,897
|
-
|
130,897
|
|||||||||||||
Totals
|
$
|
4,
546,990
|
$
|
1,
119,132
|
$
|
81,400
|
$
|
3,346,458
|
|
Exhibit No.
|
|
Description of Exhibit
|
|
|
|
|
|
3(i)
|
|
|
|
3(ii)
|
|
|
|
10(a)
|
|
|
|
10(b)
|
|
|
|
10(c)
|
|
|
|
10(d)
|
|
|
|
10(e)
|
|
|
|
10(f)
|
|
|
|
10(g)
|
|
|
|
10(h)
|
|
|
|
10(i)
|
|
|
|
10(j)
|
|
|
|
10(k)
|
|
|
10(l)
|
|||
10(m)
|
|||
|
21
|
|
|
|
31.01
|
|
|
|
31.02
|
|
|
|
32.01
|
|
|
|
99.1
|
|
|
|
101 INS
|
|
XBRL Instance Document
|
|
101 SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
101 CAL
|
|
XBRL Taxonomy Calculation Linkbase Document
|
|
101 DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
101 LAB
|
|
XBRL Taxonomy Labels Linkbase Document
|
|
101 PRE
|
|
XBRL Taxonomy Labels Linkbase Document
|
|
|
|
|
|
(1)
|
|
Previously filed with the Company’s Form 10, SEC File No. 000-55235 filed on March 31, 2015, and incorporated herein by this reference as an exhibit to this Form 10-K.
|
|
(2)
|
|
Attached.
|
|
(3)
|
|
Previously filed with the Company’s Form 8K filed on September 17, 2015, and incorporated herein by this reference as an exhibit to this Form 10-K.
|
|
(4)
|
|
Previously filed with the Company’s Form 10-K, File No. 000-55235, filed with the Commission on April 11, 2016 and incorporated herein by this reference.
|
|
(5)
|
|
Previously filed with the Company’s Form 10-Q, File No. 000-55235, filed with the Commission on May 20, 2016 and incorporate herein by this reference.
|
|
(6)
|
|
Previously filed with and incorporated herein by this reference the Company’s Form 8K, filed with the Commission on October 24, 2016.
|
|
(7)
|
|
Previously filed with and incorporated herein by this reference the Company’s Form 8K filed with the Commission on October 24, 2016.
|
|
(8)
|
|
Previously filed with and incorporated herein by this reference the Company’s Form 8K, filed with the Commission on November 29, 2016.
|
|
(9)
|
|
Previously filed with and incorporated herein by this reference the Company’s Form 8K, filed with the Commission on November 29, 2016.
|
(10)
|
Filed herewith. |
|
ABCO ENERGY, INC
|
|
|
|
|
|
|
|
|
/s/ Charles O’Dowd
|
|
|
Charles O’Dowd
|
|
|
Title: President &
|
|
|
Chief Executive Officer (CEO)
|
|
|
|
|
|
|
|
|
/s/ Charles O’Dowd
|
|
|
Charles O’Dowd
|
|
|
Chief Financial Officer (CFO)
|
|
|
Principal Accounting Officer (PAO)
|
1 Year ABCO Energy (CE) Chart |
1 Month ABCO Energy (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions