gsenq32011.htm

0001269127-11-000073.txt : 20111115 0001269127-11-000073.hdr.sgml : 20111115 20111115094833 ACCESSION NUMBER: 0001269127-11-000073 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20111115 DATE AS OF CHANGE: 20111115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GS ENVIROSERVICES, INC. CENTRAL INDEX KEY: 0001163966 STANDARD INDUSTRIAL CLASSIFICATION: REFUSE SYSTEMS [4953] IRS NUMBER: 208563731 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-33513 FILM NUMBER: 111205803 BUSINESS ADDRESS: STREET 1: 14B JAN SEBASTIAN DRIVE CITY: SANDWICH STATE: MA ZIP: 02563 BUSINESS PHONE: 508-888-5478 MAIL ADDRESS: STREET 1: 14B JAN SEBASTIAN DRIVE CITY: SANDWICH STATE: MA ZIP: 02563 FORMER COMPANY: FORMER CONFORMED NAME: TDS TELEMEDICINE INC DATE OF NAME CHANGE: 20030304 FORMER COMPANY: FORMER CONFORMED NAME: SURF GROUP INC DATE OF NAME CHANGE: 20011220 10-Q 1 gsenq32011.htm GSEN Q3 2011 gsenq32011.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________________

FORM 10-Q

_________________________

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)

OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL QUARTER ENDED SEPTEMBER 30, 2011

COMMISSION FILE NO.: 0-33513

GS ENVIROSERVICES, INC.
Exact name of registrant as specified in its charter)


Delaware		20-8563731
(State of other jurisdiction of		(IRS Employer
incorporation or organization)		Identification No.)

5950 Shiloh Road East, Suite N, Alpharetta, GA		30005
(Address of principal executive offices)		(Zip Code)

(212) 994-5374
(Registrant’s telephone number including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 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 Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the prior 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 the 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]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).	Yes		No	X
As of November 14, 2011, there were 15,573,578 shares of common stock outstanding.

GS ENVIROSERVICES, INC.

QUARTERLY REPORT ON FORM 10-Q

FOR THE FISCAL QUARTER ENDED SEPTEMBER 30, 2011

TABLE OF CONTENTS

		Page No.
Part I	Financial Information
Item 1.	Financial Statements (unaudited)	3
	Condensed Balance Sheets – September 30, 2011 (unaudited) and December 31, 2010	4
	Condensed Statements of Operations for the Three and Nine Months Ended September 30, 2011 (unaudited) and 2010 (unaudited)	5
	Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2011 (unaudited) and 2010 (unaudited)	6
	Notes to Condensed Financial Statements	7
Item 2.	Management’s Discussion and Analysis	9
Item 3	Quantitative and Qualitative Disclosures about Market Risk	11
Item 4.	Controls and Procedures	11
Part II	Other Information
Item 1.	Legal Proceedings	12
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	12
Item 3.	Defaults Upon Senior Securities	12
Item 4.	Reserved	12
Item 5.	Other Information	12
Item 6.	Exhibits	13

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) FOR SEPTEMBER 30, 2011

GS ENVIROSERVICES, INC.

CONDENSED BALANCE SHEETS

SEPTEMBER 30, 2011 (UNAUDITED) AND DECEMBER 31, 2010

ASSETS:	9/30/2011			12/31/2010
Current assets:
Cash	$	--		$	--
Prepaid expenses		--			--
Total current assets		--			--

TOTAL ASSETS		--			--

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Current liabilities:
Accounts payable		39,637			36,976
Accrued expenses		432,960			271,010
Due to an affiliate		12,051			--
Convertible debenture		223,387			223,387
Total current liabilities		708,035			531,373

Total liabilities:		708,035			531,373

Stockholders’ equity (deficit):
Common stock, $.0001 par value, 100,000,000 shares authorized
15,573,594 shares issued and 7,605,054 outstanding		761			761
Treasury stock, 7,968,540 shares at cost		(240,000	)		(240,000	)
Additional paid-in capital		5,367,885			5,367,885
Retained deficit		(5,836,681	)		(5,660,019	)
Total stockholders’ equity (deficit)		(708,035	)		(531,373	)

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	--		$	--

The notes to the Condensed Financial Statements are an integral part of these statements.

GS ENVIROSERVICES, INC.

CONDENSED STATEMENTS OF OPERATIONS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2011 AND 2010 (UNAUDITED)

	Three Months Ended						Nine Months Ended
	9/30/2011			9/30/2010			9/30/2011			9/30/2010
Revenues	$	--		$	--		$	--		$	--
Cost of revenues		--			--			--			--
Gross profit		--			--			--			--

Operating expenses:
General and administrative expenses		49,581			81,884			158,760			194,400
Total operating expenses		49,581			81,884			158,760			194,400
Operating loss		(49,581	)		(81,884	)		(158,760	)		(194,400	)

Other income (expense):
Gain on extinguishment of debt		--			--			--			--
Cost of conversion feature		--			--			--			(552	)
Interest expense		(6,033	)		(6,033	)		(17,902	)		(17,902	)
Total other income (expense), net		(6,033	)		(6,033	)		(17,902	)		(18,454	)
Loss before provision for income taxes		(55,614	)		(87,917	)		(176,662	)		(212,854	)

Provision for income taxes		--			--			--			--
Net loss	$	(55,614	)	$	(87,917	)	$	(176,662	)	$	(212,854	)

Loss per share
Basic loss per share	$	(0.01	)	$	(0.01	)	$	(0.02	)	$	(0.01	)
Diluted loss per share	$	(0.01	)	$	(0.01	)	$	(0.02	)	$	(0.01	)

Weighted average shares of common stock outstanding
Basic		7,605,054			15,573,594			7,605,054			15,573,594
Diluted		7,605,054			15,573,594			7,605,054			15,573,594

The notes to the Condensed Financial Statements are an integral part of these statements.

GS ENVIROSERVICES, INC.

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2011 (UNAUDITED)

AND SEPTEMBER 30, 2010 (UNAUDITED)

	9/30/2011			9/30/2010
CASH FLOWS FROM OPERATING ACTIVITIES

Net loss	$	(176,662	)	$	(212,854	)
Adjustment to reconcile net loss to net cash used in (provided by) operating activities:
Cost of conversion feature		--			552
Changes in assets and liabilities:
Accounts Payable and Accrued expenses		164,611			210,063
Due to affiliate		12,051			--
Prepaid expenses		--			2,239
Net cash flows used in continuing operations		--			--

Increase (decrease) in cash		--			--
Cash at beginning of period		--			--

Cash at end of period	$	--		$	--

The notes to the Condensed Financial Statements are an integral part of these statements.

GS ENVIROSERVICES, INC.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

The Company’s operations during the third quarter of 2011 have consisted of research and evaluation of a number of technologies designed to refine industrial and municipal wastewaters into hydrocarbon feedstocks for carbon-neutral production of renewable fuels, plastics and other value-added products.

During 2010, the Company located and conducted due diligence of a site in Raynham, Massachusetts (“Raynham”) with the potential to host a wastewater recycling facility and to provide a platform for pilot testing and commercialization of the Company’s technologies. These efforts culminated in the execution of a series of agreements in October 2010 to finance, build and operate a wastewater recycling facility at the Raynham site. The Company additionally agreed to purchase certain equipment from the owners of the Raynham site for $200,000, which amount is payable in the form of a convertible debenture upon closing of financing with respect to the construction of the planned wastewater recycling facility. The Company is currently seeking financing for this facility and plans to initially raise about $1 million to complete initial construction.

In October 10, 2009, the Company and GS CleanTech Corporation (“CleanTech”) entered into an Early Adopter License Agreement (the “EALA”) involving use of CleanTech’s patent-pending lipid production technologies in industrial and municipal wastewater applications. Under the terms of the EALA, the Company also has the right to purchase equipment based on CleanTech’s feedstock conditioning technologies at cost. In return, the Company has agreed to pay CleanTech a license fee equal to 20% of the issued and outstanding capital stock of the Company upon the Company’s successful execution of a third party agreement by the Company for a demonstration-scale pilot facility based on the licensed technologies. In addition, CleanTech retains the right to purchase any lipids or other co-products produced by the Company or its licensees at a rate equal to 80% of the then-current market price of any such products. CleanTech is a wholly-owned subsidiary of GreenShift Corporation, which company is majority owned by the Company’s chairman, who is also the beneficial owner of the majority of our capital stock.

The Company utilizes the services of consultants to conserve costs and defray risk as it executes on its project and technology development plans.

The Company’s goals for 2011 are to complete the financing required for the facility described above and to complete construction; commence operations at the Raynham site; and, initiate pilot testing with the Company’s technologies at the Raynham site. The Company also plans to continue to seek possible acquisition targets that bring strategic assets, cash flows or management to the Company in ways that also defray the Company’s financial and technology risk.

GOING CONCERN

The accompanying financial statements referred to above have been prepared assuming that the company will continue as a going concern. The Company has no established source of revenue and is dependent on its ability to raise capital from shareholders or other sources to sustain operations. These factors raise substantial doubt that the Company will be able to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our ability to raise capital will depend on our success in obtaining financing and our success in developing revenue sources.

BASIC AND DILUTED EARNINGS PER SHARE (“EPS”)

Basic (loss) earnings per share is computed by dividing net income by the weighted average common shares outstanding during a period. Diluted (loss) earnings per share is based on the treasury stock method and includes the effect from potential issuance of common stock assuming the exercise of all stock options. Common share equivalents have been excluded where their inclusion would be anti-dilutive. Potentially future dilutive shares at September 30, 2011 are 705,600 shares from the conversions of 705,600 outstanding options and warrants and 36,429,630 shares from the potential conversion of the $196,720 convertible debenture (see Note 2 – Convertible Debenture).

NOTE 2

CONVERTIBLE DEBENTURE

Effective on September 3, 2009, James Green resigned from his position as Chief Executive Officer and sole member of GS EnviroServices Board of Directors. Pursuant to an Exchange Agreement dated September 3, 2009 James Green delivered to GS EnviroServices 7,968,540 shares of GS EnviroServices common stock (the "Exchange Shares"). In exchange for the Exchange Shares, GS EnviroServices issued to Mr. Green a Convertible Debenture and agreed to issue one million shares of Series A preferred Stock, when authorized.

The Convertible Debenture is in the principal amount of $240,000, although payment of $24,000 against that principal obligation was made by GS EnviroServices immediately. The remaining principal is payable with 12% per annum interest in monthly payments of $38,562 commencing in October 2009, with the final payment due on February 26, 2010. Interest is payable in cash or in shares of GS EnviroServices common stock, at GS EnviroServices’ option. The holder may convert the principal amount and accrued interest into common stock of GS EnviroServices at a conversion price equal to 90% of the lowest closing market price during the 20 trading days preceding conversion, but may not convert into shares that would cause it to own more than 4.99% of the outstanding shares of GS EnviroServices. The Company determined that the conversion feature of the convertible debenture met the criteria of ASC 480-10-25-14 to be recorded as a liability as it could result in the note being converted into a variable number of shares. At the commitment date, the Company determined the value of the Green Convertible Debentures to be an aggregate $264,827, which represented the face values of $240,000 plus the present values of the liability for the conversion features of $24,827. The Company recorded the $24,827 to interest expense at the commitment dates of the debentures. The difference between the fair value of the conversion feature and the present value is being accreted through interest expense. As of March 31, 2010, an expense of $552 was recorded as interest expense for the accretion of the discount from the liability of the conversion feature. In October 2009, the Company issued a partial monthly payment of $19,280 reducing the principal to $196,720. As of September 30, 2011, the Company is in default of this debenture. Accrued interest on this note as of September 30, 2011 and December 31, 2010 of $56,956 and $39,054 is included in accrued expenses in the accompanying balance sheets.

In the Exchange Agreement, GS EnviroServices undertook to amend its Certificate of Incorporation to authorize the Series A Preferred Stock. The Series A Preferred Stock, when authorized and issued, will provide the holder with the right to cast votes at meetings of the shareholders or by written consent equal to 51% of the voting power of the outstanding shares.

GS EnviroServices is holding the Exchange Shares in escrow. The Exchange Shares will not be cancelled until the Series A Preferred Stock is issued.

On September 3, 2009 James Green transferred to Viridis Capital, LLC his beneficial interest in the Exchange Shares, including his right to receive the Series A Preferred Stock in exchange for the Exchange Shares. Kevin Kreisler, the newly appointed CEO of GS EnviroServices, is the sole member of Viridis Capital, LLC.

ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS

FORWARD LOOKING STATEMENTS

In addition to historical information, this Report contains forward-looking statements, which are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "estimates," "projects," or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in Section 1A: “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2010. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements. Readers should carefully review the risk factors described in other documents GS EnviroServices, Inc. files from time to time with the Securities and Exchange Commission (the "SEC").

In October 2009, the Company and GS CleanTech Corporation (“CleanTech”) entered into an Early Adopter License Agreement (the “EALA”) involving use of CleanTech’s patent-pending lipid production technologies in industrial and municipal wastewater applications. Under the terms of the EALA, the Company also has the right to purchase equipment based on CleanTech’s feedstock conditioning technologies at cost. In return, the Company has agreed to pay CleanTech a license fee equal to 20% of the issued and outstanding capital stock of the Company upon the Company’s successful execution of a third party agreement by the Company for a demonstration-scale pilot facility based on the licensed technologies. In addition, CleanTech retains the right to purchase any lipids or other co-products produced by the Company or its licensees at a rate equal to 80% of the then-current market price of any such products. CleanTech is a wholly-owned subsidiary of GreenShift Corporation, which company is majority owned by our chairman, who is also the beneficial owner of the majority of our capital stock.

The Company utilizes the services of consultants to conserve costs and defray risk as it executes on its project and technology development plans.

RESULTS OF OPERATIONS

General and administrative (“G&A”) expenses for the nine months ended September 30, 2011 were $158,760 as compared to $194,400 for the corresponding period in 2010. Other income (expense) was ($17,902) and ($18,454) for the nine months ended September 30, 2011 and 2010, respectively. Our net loss for the nine months ended September 30, 2011 and 2010 was $176,662 and $212,854 respectively.

General and administrative (“G&A”) expenses for the three months ended September 30, 2011 were $49,581 as compared to $81,884 for the corresponding period in 2010. Other income (expense) was

($6,033) and ($6,033) for the three months ended September 30, 2011 and 2010, respectively. Our net loss for the three months ended September 30, 2011 was $55,614, compared to a net loss of $87,917 during the three months ended September 30, 2010.

LIQUIDITY AND CAPITAL RESOURCES

The Company’s activities from operations used $0 in cash in 2011 and 2010, as we accrued all expenses. Non-cash adjustments for operations recorded for the nine months ended September 30, 2010 consisted of an adjustment to cost of conversion feature totaling $552. Accounts payable and accrued expenses totaled $472,597 and $307,986, respectively at September 30, 2011 and December 31, 2010. The Company had a negative working capital position of $708,035 as of September 30, 2011 as compared to a negative working capital position of $531,373 as of December 31, 2010. The Company will not be able to implement its business plan unless it obtains capital. At this time the Company has no commitments for financing from any source.

ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4

CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Our principal executive officer and principal financial officer participated in and supervised the evaluation of our disclosure controls and procedures (as defined in Rules 13(a)-15(e) and 15(d)-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that are designed to ensure that information required to be disclosed by us in the reports that we file is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that the information required to be disclosed by us in the reports that we file or submit under the Act is accumulated and communicated to our management, including our principal executive officer or officers and principal financial officer, to allow timely decisions regarding required disclosure.

In the course of making our assessment of the effectiveness of our disclosure controls and procedures, we identified a material weakness. This material weakness consisted of inadequate staffing and supervision within the bookkeeping and accounting operations of our company. The lack of employees prevents us from segregating disclosure duties. The inadequate segregation of duties is a weakness because it could lead to the untimely identification and resolution of accounting and disclosure matters or could lead to a failure to perform timely and effective reviews. Based on the results of this assessment, our management concluded that because of the above condition, our disclosure controls and procedures were not effective as of the end of the period covered by this report.

There have been no changes in the Company’s internal control over financial reporting during the most recently completed fiscal quarter that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1

LEGAL PROCEEDINGS

None.

ITEM 1A

RISK FACTORS

There has been no material change in the risk factors affecting the Company that were set forth in Item 1A to our Annual Report on Form 10-K for the year ended December 31, 2010.

ITEM 2

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3

DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4

RESERVED

ITEM 5

OTHER INFORMATION

None.

ITEM 6

EXHIBITS

The following are exhibits filed as part of the Company’s Form 10-Q for the quarter ended September 30, 2011:

INDEX TO EXHIBITS

Exhibit Number	Description

31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 as incorporated herein by reference

32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to the Sarbanes-Oxley Act of 2002 as incorporated herein by reference

101.INS

XBRL Instance

101.SCH

XBRL Schema

101.CAL

XBRL Calculation

101.DEF

XBRL Definition

101.LAB

XBRL Label

101.PRE

XBRL Presentation

SIGNATURES

Pursuant to the requirements of Section 13 or 15 (d) 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 on the date indicated.

GS ENVIROSERVICES, INC.

By:	/s/	KEVIN KREISLER
		KEVIN KREISLER
		Chief Executive Officer
Date:		November 14, 2011

EX-31.1 2 gsenq311ex31-1.htm EXHIBIT 31.1 gsenq311ex31-1.htm

EXHIBIT 31.1

CERTIFICATION OF QUARTERLY REPORT

I, KEVIN KREISLER, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of GS EnviroServices, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b. Designed such internal controls over financial reporting, or caused such internal controls over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the Company’s Board of Directors of the registrant’s board of directors (or persons performing the equivalent functions):

	a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and,

	b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By:		/s/	KEVIN KREISLER
			KEVIN KREISLER
			Chief Executive Officer, Chief Financial Officer and Chief Accounting Officer
Date:			November 14, 2011

EX-32.1 3 gsenq311ex32-1.htm EXHIBIT 32.1 gsenq311ex32-1.htm

EXHIBIT 32.1

CERTIFICATION OF PERIODIC REPORT

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of GS EnviroServices, Inc. (the “Company”), certifies that:

1.	The Quarterly Report on Form 10-Q of the Company for the quarter ended September 30, 2011 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and,

2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:	/s/	KEVIN KREISLER
		KEVIN KREISLER
		Chief Executive Officer and Chief Financial and Accounting Officer
Date:		November 14, 2011

This certification is made solely for the purpose of 18 U.S.C. Section 1350, subject to the knowledge standard contained therein, and not for any other purpose.

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<div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">NOTE 1              <font style="DISPLAY:inline; FONT-WEIGHT:bold">DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION</font></font></div></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company’s operations during the third quarter of 2011 have consisted of research and evaluation of a number of technologies designed to refine industrial and municipal wastewaters into hydrocarbon feedstocks for carbon-neutral production of renewable fuels, plastics and other value-added products.</font></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During 2010, the Company located and conducted due diligence of a site in Raynham, Massachusetts (“Raynham”) with the potential to host a wastewater recycling facility and to provide a platform for pilot testing and commercialization of the Company’s technologies. These efforts culminated in the execution of a series of agreements in October 2010 to finance, build and operate a wastewater recycling facility at the Raynham site. The Company additionally agreed to purchase certain equipment from the owners of the Raynham site for $200,000, which amount is payable in the form of a convertible debenture upon closing of financing with respect to the construction of the planned wastewater recycling facility. The Company is currently seeking financing for this facility and plans to initially raise about $1 million to complete initial construction.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">In October 10, 2009, the Company and GS CleanTech Corporation (“CleanTech”) entered into an Early Adopter License Agreement (the “EALA”) involving use of CleanTech’s patent-pending lipid production technologies in industrial and municipal wastewater applications. Under the terms of the EALA, the Company also has the right to purchase equipment based on CleanTech’s feedstock conditioning technologies at cost. In return, the Company has agreed to pay CleanTech a license fee equal to 20% of the issued and outstanding capital stock of the Company upon the Company’s successful execution of a third party agreement by the Company for a demonstration-scale pilot facility based on the licensed technologies. In addition, CleanTech retains the right to purchase any lipids or other co-products produced by the Company or its licensees at a rate equal to 80% of the then-current market price of any such products. CleanTech is a wholly-owned subsidiary of GreenShift Corporation, which company is majority owned by the Company’s chairman, who is also the beneficial owner of the majority of our capital stock.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company utilizes the services of consultants to conserve costs and defray risk as it executes on its project and technology development plans.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company’s goals for 2011 are to complete the financing required for the facility described above and to complete construction; commence operations at the Raynham site; and, initiate pilot testing with the Company’s technologies at the Raynham site. The Company also plans to continue to seek possible acquisition targets that bring strategic assets, cash flows or management to the Company in ways that also defray the Company’s financial and technology risk.</font></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">GOING CONCERN</font></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The accompanying financial statements referred to above have been prepared assuming that the company will continue as a going concern. The Company has no established source of revenue and is dependent on its ability to raise capital from shareholders or other sources to sustain operations. These factors raise substantial doubt that the Company will be able to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our ability to raise capital will depend on our success in   obtaining financing and our success in developing revenue sources.</font></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">BASIC AND DILUTED EARNINGS PER SHARE (“EPS”)</font></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:1.8pt" align="justify"><font style="DISPLAY:inline">Basic (loss) earnings per share is computed by dividing net income by the weighted average common shares outstanding during a period. Diluted (loss) earnings per share is based on the treasury stock method and includes the effect from potential issuance of common stock assuming the exercise of all stock options. Common share equivalents have been excluded where their inclusion would be anti-dilutive. Potentially future dilutive shares at September 30, 2011 are 705,600 shares from the conversions of 705,600 outstanding options and warrants and 36,429,630 shares from the potential conversion of the $196,720 convertible debenture (see Note 2 – Convertible Debenture<font style="DISPLAY:inline; FONT-STYLE:italic">).</font></font></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:1.8pt" align="justify"> </div>

<div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">NOTE 2              <font style="DISPLAY:inline; FONT-WEIGHT:bold">CONVERTIBLE DEBENTURE</font></font></div></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Effective on September 3, 2009, James Green resigned from his position as Chief Executive Officer and sole member of GS EnviroServices Board of Directors. Pursuant to an Exchange Agreement dated September 3, 2009 James Green delivered to GS EnviroServices 7,968,540 shares of GS EnviroServices common stock (the "Exchange Shares"). In exchange for the Exchange Shares, GS EnviroServices issued to Mr. Green a Convertible Debenture and agreed to issue one million shares of Series A preferred Stock, when authorized.</font></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"> </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Convertible Debenture is in the principal amount of $240,000, although payment of $24,000 against that principal obligation was made by GS EnviroServices immediately. The remaining principal is payable with 12% per annum interest in monthly payments of $38,562 commencing in October 2009, with the final payment due on February 26, 2010. Interest is payable in cash or in shares of GS EnviroServices common stock, at GS EnviroServices’ option. The holder may convert the principal amount and accrued interest into common stock of GS EnviroServices at a conversion price equal to 90% of the lowest closing market price during the 20 trading days preceding conversion, but may not convert into shares that would cause it to own more than 4.99% of the outstanding shares of GS EnviroServices. The Company determined that the conversion feature of the convertible debenture met the criteria of ASC 480-10-25-14 to be recorded as a liability as it could result in the note being converted into a variable number of shares. At the commitment date, the Company determined the value of the Green Convertible Debentures to be an aggregate $264,827, which represented the face values of $240,000 plus the present values of the liability for the conversion features of $24,827. The Company recorded the $24,827 to interest expense at the commitment dates of the debentures. The difference between the fair value of the conversion feature and the present value is being accreted through interest expense. As of March 31, 2010, an expense of $552 was recorded as interest expense for the accretion of the discount from the liability of the conversion feature. In October 2009, the Company issued a partial monthly payment of $19,280 reducing the principal to $196,720. As of September 30, 2011, the Company is in default of this debenture. Accrued interest on this note as of September 30, 2011 and December 31, 2010 of $56,956 and $39,054 is included in accrued expenses in the accompanying balance sheets.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">In the Exchange Agreement, GS EnviroServices undertook to amend its Certificate of Incorporation to authorize the Series A Preferred Stock. The Series A Preferred Stock, when authorized and issued, will provide the holder with the right to cast votes at meetings of the shareholders or by written consent equal to 51% of the voting power of the outstanding shares.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">GS EnviroServices is holding the Exchange Shares in escrow. The Exchange Shares will not be cancelled until the Series A Preferred Stock is issued.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">On September 3, 2009 James Green transferred to Viridis Capital, LLC his beneficial interest in the Exchange Shares, including his right to receive the Series A Preferred Stock in exchange for the Exchange Shares. Kevin Kreisler, the newly appointed CEO of GS EnviroServices, is the sole member of Viridis Capital, LLC.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><font style="DISPLAY:inline"></font> </div>

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BALANCE SHEET PARENTHETICAL (USD $)	Sep. 30, 2011	Dec. 31, 2010
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	15,573,594	15,573,594
Common stock shares outstanding	7,605,054	7,605,054
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CONDENSED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
CONDENSED STATEMENTS OF OPERATIONS (USD $)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues
Cost of revenues
Gross profit
General and administrative expenses	49,581	81,884	158,760	194,400
Total operating expenses	49,581	81,884	158,760	194,400
Operating loss	(49,581)	(81,884)	(158,760)	(194,400)
Cost of conversion feature				(552)
Interest expense	(6,033)	(6,033)	(17,902)	(17,902)
Total other income (expense), net	(6,033)	(6,033)	(17,902)	(18,454)
Loss before provision for income taxes	(55,614)	(87,917)	(176,662)	(212,854)
Provision for income taxes
Net loss	$ (55,614)	$ (87,917)	$ (176,662)	$ (212,854)
Basic loss per share	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.01)
Diluted loss per share	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.01)
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Document and Entity Information	3 Months Ended
Document and Entity Information	Sep. 30, 2011	Nov. 11, 2011
DocumentAndEntityInformationAbstract
EntityRegistrantName	GS ENVIROSERVICES, INC.
DocumentType	10-Q
DocumentPeriodEndDate	Sep. 30, 2011
AmendmentFlag	false
EntityCentralIndexKey	0001163966
CurrentFiscalYearEndDate	--12-31
EntityCommonStockSharesOutstanding		15,573,578
EntityFilerCategory	Smaller Reporting Company
EntityCurrentReportingStatus	Yes
EntityVoluntaryFilers	No
EntityWellKnownSeasonedIssuer	No
DocumentFiscalYearFocus	2011
DocumentFiscalPeriodFocus	Q3

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Description of Business and Basis of Presentation	3 Months Ended
Description of Business and Basis of Presentation	Sep. 30, 2011
AccountingPoliciesAbstract
BusinessDescriptionAndBasisOfPresentationTextBlock	NOTE 1 DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION The Company’s operations during the third quarter of 2011 have consisted of research and evaluation of a number of technologies designed to refine industrial and municipal wastewaters into hydrocarbon feedstocks for carbon-neutral production of renewable fuels, plastics and other value-added products. During 2010, the Company located and conducted due diligence of a site in Raynham, Massachusetts (“Raynham”) with the potential to host a wastewater recycling facility and to provide a platform for pilot testing and commercialization of the Company’s technologies. These efforts culminated in the execution of a series of agreements in October 2010 to finance, build and operate a wastewater recycling facility at the Raynham site. The Company additionally agreed to purchase certain equipment from the owners of the Raynham site for $200,000, which amount is payable in the form of a convertible debenture upon closing of financing with respect to the construction of the planned wastewater recycling facility. The Company is currently seeking financing for this facility and plans to initially raise about $1 million to complete initial construction. In October 10, 2009, the Company and GS CleanTech Corporation (“CleanTech”) entered into an Early Adopter License Agreement (the “EALA”) involving use of CleanTech’s patent-pending lipid production technologies in industrial and municipal wastewater applications. Under the terms of the EALA, the Company also has the right to purchase equipment based on CleanTech’s feedstock conditioning technologies at cost. In return, the Company has agreed to pay CleanTech a license fee equal to 20% of the issued and outstanding capital stock of the Company upon the Company’s successful execution of a third party agreement by the Company for a demonstration-scale pilot facility based on the licensed technologies. In addition, CleanTech retains the right to purchase any lipids or other co-products produced by the Company or its licensees at a rate equal to 80% of the then-current market price of any such products. CleanTech is a wholly-owned subsidiary of GreenShift Corporation, which company is majority owned by the Company’s chairman, who is also the beneficial owner of the majority of our capital stock. The Company utilizes the services of consultants to conserve costs and defray risk as it executes on its project and technology development plans. The Company’s goals for 2011 are to complete the financing required for the facility described above and to complete construction; commence operations at the Raynham site; and, initiate pilot testing with the Company’s technologies at the Raynham site. The Company also plans to continue to seek possible acquisition targets that bring strategic assets, cash flows or management to the Company in ways that also defray the Company’s financial and technology risk. GOING CONCERN The accompanying financial statements referred to above have been prepared assuming that the company will continue as a going concern. The Company has no established source of revenue and is dependent on its ability to raise capital from shareholders or other sources to sustain operations. These factors raise substantial doubt that the Company will be able to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our ability to raise capital will depend on our success in obtaining financing and our success in developing revenue sources. BASIC AND DILUTED EARNINGS PER SHARE (“EPS”) Basic (loss) earnings per share is computed by dividing net income by the weighted average common shares outstanding during a period. Diluted (loss) earnings per share is based on the treasury stock method and includes the effect from potential issuance of common stock assuming the exercise of all stock options. Common share equivalents have been excluded where their inclusion would be anti-dilutive. Potentially future dilutive shares at September 30, 2011 are 705,600 shares from the conversions of 705,600 outstanding options and warrants and 36,429,630 shares from the potential conversion of the $196,720 convertible debenture (see Note 2 – Convertible Debenture).

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CONDENSED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS (USD $)	Sep. 30, 2011	Sep. 30, 2010
Net loss	$ (176,662)	$ (212,854)
Cost of conversion feature		552
Changed in accounts payable and accrued expenses	164,611	210,063
Changes in due to affiliate	12,051
Prepaid expenses		2,239
Net cash flows used in continuing operations
Increase (decrease) in cash
Cash at beginning of period
Cash at end of period

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

- Definition

The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Convertible Debenture
3 Months Ended
Sep. 30, 2011
DebtAbstract
DebtDisclosureTextBlock
NOTE 2 CONVERTIBLE DEBENTURE

Effective on September 3, 2009, James Green resigned from his position as Chief Executive Officer and sole member of GS EnviroServices Board of Directors. Pursuant to an Exchange Agreement dated September 3, 2009 James Green delivered to GS EnviroServices 7,968,540 shares of GS EnviroServices common stock (the "Exchange Shares"). In exchange for the Exchange Shares, GS EnviroServices issued to Mr. Green a Convertible Debenture and agreed to issue one million shares of Series A preferred Stock, when authorized.

The Convertible Debenture is in the principal amount of $240,000, although payment of $24,000 against that principal obligation was made by GS EnviroServices immediately. The remaining principal is payable with 12% per annum interest in monthly payments of $38,562 commencing in October 2009, with the final payment due on February 26, 2010. Interest is payable in cash or in shares of GS EnviroServices common stock, at GS EnviroServices’ option. The holder may convert the principal amount and accrued interest into common stock of GS EnviroServices at a conversion price equal to 90% of the lowest closing market price during the 20 trading days preceding conversion, but may not convert into shares that would cause it to own more than 4.99% of the outstanding shares of GS EnviroServices. The Company determined that the conversion feature of the convertible debenture met the criteria of ASC 480-10-25-14 to be recorded as a liability as it could result in the note being converted into a variable number of shares. At the commitment date, the Company determined the value of the Green Convertible Debentures to be an aggregate $264,827, which represented the face values of $240,000 plus the present values of the liability for the conversion features of $24,827. The Company recorded the $24,827 to interest expense at the commitment dates of the debentures. The difference between the fair value of the conversion feature and the present value is being accreted through interest expense. As of March 31, 2010, an expense of $552 was recorded as interest expense for the accretion of the discount from the liability of the conversion feature. In October 2009, the Company issued a partial monthly payment of $19,280 reducing the principal to $196,720. As of September 30, 2011, the Company is in default of this debenture. Accrued interest on this note as of September 30, 2011 and December 31, 2010 of $56,956 and $39,054 is included in accrued expenses in the accompanying balance sheets.

In the Exchange Agreement, GS EnviroServices undertook to amend its Certificate of Incorporation to authorize the Series A Preferred Stock. The Series A Preferred Stock, when authorized and issued, will provide the holder with the right to cast votes at meetings of the shareholders or by written consent equal to 51% of the voting power of the outstanding shares.

GS EnviroServices is holding the Exchange Shares in escrow. The Exchange Shares will not be cancelled until the Series A Preferred Stock is issued.

On September 3, 2009 James Green transferred to Viridis Capital, LLC his beneficial interest in the Exchange Shares, including his right to receive the Series A Preferred Stock in exchange for the Exchange Shares. Kevin Kreisler, the newly appointed CEO of GS EnviroServices, is the sole member of Viridis Capital, LLC.

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Sep. 30, 2011
Dec. 31, 2010
Accounts payable $ 39,637 $ 36,976
Accrued expenses 432,960 271,010
Due to an affiliate 12,051
Convertible debenture 223,387 223,387
Total current liabilities 708,035 531,373
Total liabilities: 708,035 531,373
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Additional paid-in capital 5,367,885 5,367,885
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Convertible Debenture	3 Months Ended
Convertible Debenture	Sep. 30, 2011
DebtAbstract
DebtDisclosureTextBlock	NOTE 2 CONVERTIBLE DEBENTURE Effective on September 3, 2009, James Green resigned from his position as Chief Executive Officer and sole member of GS EnviroServices Board of Directors. Pursuant to an Exchange Agreement dated September 3, 2009 James Green delivered to GS EnviroServices 7,968,540 shares of GS EnviroServices common stock (the "Exchange Shares"). In exchange for the Exchange Shares, GS EnviroServices issued to Mr. Green a Convertible Debenture and agreed to issue one million shares of Series A preferred Stock, when authorized. The Convertible Debenture is in the principal amount of $240,000, although payment of $24,000 against that principal obligation was made by GS EnviroServices immediately. The remaining principal is payable with 12% per annum interest in monthly payments of $38,562 commencing in October 2009, with the final payment due on February 26, 2010. Interest is payable in cash or in shares of GS EnviroServices common stock, at GS EnviroServices’ option. The holder may convert the principal amount and accrued interest into common stock of GS EnviroServices at a conversion price equal to 90% of the lowest closing market price during the 20 trading days preceding conversion, but may not convert into shares that would cause it to own more than 4.99% of the outstanding shares of GS EnviroServices. The Company determined that the conversion feature of the convertible debenture met the criteria of ASC 480-10-25-14 to be recorded as a liability as it could result in the note being converted into a variable number of shares. At the commitment date, the Company determined the value of the Green Convertible Debentures to be an aggregate $264,827, which represented the face values of $240,000 plus the present values of the liability for the conversion features of $24,827. The Company recorded the $24,827 to interest expense at the commitment dates of the debentures. The difference between the fair value of the conversion feature and the present value is being accreted through interest expense. As of March 31, 2010, an expense of $552 was recorded as interest expense for the accretion of the discount from the liability of the conversion feature. In October 2009, the Company issued a partial monthly payment of $19,280 reducing the principal to $196,720. As of September 30, 2011, the Company is in default of this debenture. Accrued interest on this note as of September 30, 2011 and December 31, 2010 of $56,956 and $39,054 is included in accrued expenses in the accompanying balance sheets. In the Exchange Agreement, GS EnviroServices undertook to amend its Certificate of Incorporation to authorize the Series A Preferred Stock. The Series A Preferred Stock, when authorized and issued, will provide the holder with the right to cast votes at meetings of the shareholders or by written consent equal to 51% of the voting power of the outstanding shares. GS EnviroServices is holding the Exchange Shares in escrow. The Exchange Shares will not be cancelled until the Series A Preferred Stock is issued. On September 3, 2009 James Green transferred to Viridis Capital, LLC his beneficial interest in the Exchange Shares, including his right to receive the Series A Preferred Stock in exchange for the Exchange Shares. Kevin Kreisler, the newly appointed CEO of GS EnviroServices, is the sole member of Viridis Capital, LLC.

CONDENSED BALANCE SHEETS (USD $)	Sep. 30, 2011	Dec. 31, 2010
Accounts payable	$ 39,637	$ 36,976
Accrued expenses	432,960	271,010
Due to an affiliate	12,051
Convertible debenture	223,387	223,387
Total current liabilities	708,035	531,373
Total liabilities:	708,035	531,373
Series A preferred stock, 0 shares issued and outstanding Common stock, $.0001 par value, 100,000,000 shares authorized 15,573,594 shares issued and 7,605,054 outstanding	761	761
Treasury stock, 7,968,540 shares at cost	(240,000)	(240,000)
Additional paid-in capital	5,367,885	5,367,885
Retained deficit	(5,836,681)	(5,660,019)
Total stockholders' equity (deficit)	(708,035)	(531,373)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY