CONVERSION OF DEBT

9 Months Ended

Dec. 31, 2011

NOTE 10 – CONVERSION OF DEBT

APB No. 84 Describes the method of accounting for conversions of convertible debt to equity securities when the debtor induces conversion of the debt by offering additional securities or other consideration to convertible holders. This Statement requires recognition of an expense equal to the fair value of the additional securities or other consideration issued to induce conversion.

Pursuant to an agreement as of September 21, 2011 the Company converted $20,000 of debt held by FCI at $0.002 per share. The Company incurred a loss in the amount of $7,000 on the conversion of debt based upon the market price as of the conversion date. The following is a schedule of all the debt conversions for which the Company issued additional shares in order to reduce its debts thereby recognizing an additional expense upon the conversion at the fair market value during the fiscal quarter ended December 31, 2011:

			Conversion	Shares	Mkt	Mkt	Debt	Other
	Cert #	No.	Date	Issued	Prices	Value	Converted	(Inc) / Exp

Fusion Capital Investments	1789	1	10/6/11	10,000,000	$ 0.00	27,000	20,000	7,000

GREEN EQUITY HOLDINGS, INC. 10-Q