UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark One)

x	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2016

o	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from __________ to ___________

Commission file number: 000-54759

GREENHOUSE SOLUTIONS, INC.

(Exact name of registrant as specified in its charter)

Delaware		45-3838831
(State of Incorporation)		(IRS Employer ID Number)

8400 Crescent Pkwy., Suite 600, Greenwood Village, Colorado 80111

(Address of principal executive offices)

(970) 439-1905

(Registrant's Telephone number)

(Former Address and phone of principal executive offices)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to the filing requirements for the past 90 days. Yes x No o

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 for Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No x

Indicate by check mark whether the registrant is a large accelerated file, 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	o	Accelerated filer	o
Non-accelerated filer	o	Smaller reporting company	x
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

Indicate the number of share outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

As of November 14, 2016, there were 96,847,458 shares of the registrant’s common stock issued and outstanding.

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	PART 1 – FINANCIAL INFORMATION	Page

Item 1.	Financial Statements (Unaudited)	3

	Condensed Balance Sheets – March 31, 2016 and September 30, 2016	3

	Condensed Statements of Operations - Three and Six months ended September 30, 2016 and 2015	4

	Condensed Statements of Stockholder’s Equity – September 30, 2016	5

	Condensed Statements of Cash Flows – Six months ended September 30, 2016 and 2015	6

	Notes to the Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14

Item 3.	Quantitative and Qualitative Disclosures About Market Risk – Not Applicable	16

Item 4.	Controls and Procedures	16

	PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	17

Item 1A.	Risk Factors - Not Applicable	17

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	17

Item 3.	Defaults Upon Senior Securities – Not Applicable	17

Item 4.	Mine Safety Disclosure – Not Applicable	17

Item 5.	Other Information – Not Applicable	17

Item 6.	Exhibits	18

	Signatures	19

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PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

GREENHOUSE SOLUTIONS INC.

CONDENSED BALANCE SHEETS

(Unaudited)

		September 30,			March 31,
		2016			2016
ASSETS

	Current assets
	Cash	$	-		$	625
	Inventory		29,504			29,504
	Total Current assets		29,504			30,129

	Fixed assets
	Office equipment		1,398			1,398
	Accumulated depreciation		(443	)		(303	)
			955			1,095
	Other assets
	License #2 Reddy		-			510,000
	License #2 Impairment					(510,000	)

	Total Assets	$	30,459		$	31,224


LIABILITIES & STOCKHOLDERS' DEFICIT

	Current liabilities
	Accounts payable	$	27,698		$	46,154
	Accounts payable - related party		114,450			63,000
	Stock offer recission		15,000			15,000
	Advances payable - related party		25,160			-
	Total current liabilties		182,308			124,154

	Stockholders' Deficit
	Preferred stock, 25,000,000 shares authorized with $0.0001 par value. No Preferred shares issued or outstanding
	Common stock, 200,000,000 shares authorized with $0.0001 par value. 95,784,458 issued and outstanding respectively		9,578			9,528
	Additional paid in capital		2,816,716			2,771,474
	Additional paid in capital - Warrants		1,354,015			1,354,015
	Accumulated deficit		(4,332,158	)		(4,227,947	)
	Total Stockholders' Deficit		(151,849	)		(92,930	)

	Total Liabilities and Stockholders' Deficit	$	30,459		$	31,224

The accompanying notes are an integral part of these financial statements.

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GREENHOUSE SOLUTIONS INC.
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)

	For the Quarter Ended						For the Six Months Ended
	September 30,						September 30,
	2016			2015			2016			2015
				As Restated						As Restated
REVENUE	$	-		$	-		$	-		$	-
Cost of revenues		-			-			-			-
GROSS PROFIT		-			-			-			-

Operating Expenses:
Consulting services								-			42,489
Corporate communications					5,000			-			20,000
Depreciation expense		70			70			140			140
Management consulting - related parties		25,500			23,500			51,000			49,000
Professional fees		41,068			10,352			48,367			51,654
Research and development											15,000
General and administrative		550			9,046			4,757			28,036
Total operating expenses		67,188			47,968			104,264			206,319

Net loss from operations		(67,188	)		(47,968	)		(104,264	)		(206,319	)

Other income (expense)
Other income		-			-			109			-
Interest (expense)		-			-			(56	)		-
Total other income (expense)		-			-			53			-

Net loss	$	(67,188	)	$	(47,968	)	$	(104,211	)	$	(206,319	)

Net income (loss) per share
(Basic and fully diluted)	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)

Weighted average number of common shares outstanding		95,303,087			88,509,500			95,243,177			87,580,333

The accompanying notes are an integral part of these financial statements.

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GREENHOUSE SOLUTIONS INC.
STATEMENTS OF CASH FLOWS
(Unaudited)

	Six Months Ended
	September 30,
	2016			2015
				As Restated
Cash Flows From Operating Activities:
Net income (loss)	$	(104,211	)	$	(206,319	)

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		140			140
Changes in operating assets and liabilities
Decrease in accounts receivable					19,366
Increase (decrease) in accounts payable and accrued liabilities		(18,005	)		(54,022	)
Increase (decrease) in accounts payable - related parties		51,000			19,000
Increase (decrease) in related parties advances		25,160			(50,011	)
		-			-
NET CASH USED IN OPERATING ACTIVITIES		(45,916	)		(271,846	)

CASH FLOWS USED IN INVESTING ACTIVITIES				$	-
Investment		-
Purchase of Fixed assets		-
NET CASH USED IN INVESTING ACTIVITIES		-

CASH FLOWS FROM FINANCING ACTIVITIES
		-			-
Proceeds from Common Stock sales		-			265,000
Common Stock issued for debt		45,292			-
NET CASH PROVIDED BY FINANCING ACTIVITIES		45,292			265,000

Net Increase (Decrease) In Cash		(624	)		(6,846	)

Cash At The Beginning Of The Period		624			11,164

Cash At The End Of The Period	$	-		$	4,318

Schedule of Non-Cash Investing and Financing Activities

Advances contributed to capital by related party	$	-		$	42,082
	$	-		$	-
Supplemental Disclosure

Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-

The accompanying notes are an integral part of these financial statements.

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GREENHOUSE SOLUTIONS INC.

STATEMENT OF STOCKHOLDER'S EQUITY

	Common Stock
				Amount ($0.001			Paid in			Common Stock			Paid in Capital		Accumulated			Stockholders'
	Shares			Par)			Capital			Subscribed			Warrants		Deficit			Deficit

Balances - March 31, 2014		86,760,000		$	8,676		$	74,906		$	31,000		$	-	$	(132,118	)	$	(17,536	)

Sale of common stock		62,000			6			30,994			(31,000	)							-

Common stock subscribed											90,000								90,000

Common stock retired to treasury		(11,000,000	)		(1,100	)		1,100											-

Stock issued for IP licenses		11,000,000			1,100			1,098,900											1,100,000

Net loss for the period																(1,287,098	)		(1,287,098	)
Balances - March 31, 2015		86,822,000			8,682			1,205,900			90,000			-		(1,419,216	)		(114,634	)

Shares issued for cash		2,350,000			235			434,765			(90,000	)							345,000
Stock offer rescinded		(75,000	)		(8	)		(14,992	)										(15,000	)
Shares issued for licenses		3,000,000			300			509,700											510,000
Shares issued for services - RP		55,274			6			5,994											6,000
Shares issued for services		1,578,939			158			258,262											258,420
Shares for private placement exp		1,550,000			155			371,845											372,000
Paid in Capital - Warrants		-			-			-			-			1,354,015					1,354,015
Net loss for the period																(2,808,731	)		(2,808,731	)
Balances - March 31, 2016		95,281,213			9,528			2,771,474			-			1,354,015		(4,227,947	)		(92,930	)

Shares issued for debt		503,245			50			45,242											45,292
Net loss for the period																(104,211	)		(104,211	)
Balances - September 30, 2016		95,784,458		$	9,578		$	2,816,716		$	-		$	1,354,015	$	(4,332,158	)	$	(151,849	)

The accompanying notes are an integral part of these financial statements.

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GREENHOUSE SOLUTIONS, INC.

NOTES TO FINANCIAL STATEMENTS

September 30, 2016

NOTE 1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION:

Greenhouse Solutions, Inc. (the “Company” or “Greenhouse Solutions”), is a Nevada corporation. The Company was incorporated under the laws of the State of Nevada on April 8, 2009. The Company was involved in the sale and distribution of urban gardening products and greenhouses on the North American Market, but is currently expanding the business into the development, marketing, production, and sale of hemp oil-enhanced products for both personal health use and canine use, in addition to probiotic-based nutraceuticals. As a nutraceutical company, the Company engages in the acquisition, licensing and commercialization of nutraceutical products and technologies.

Basis of presentation – Unaudited Financial Statements

The accompanying unaudited financial statements have been prepared in accordance with U. S. generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the financial statements for the year ended March 31, 2016 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. These unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months and six months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending March 31, 2017.

Going Concern

The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred an accumulated deficit since inception of $4,332,158 through September 30, 2016, and has not yet established a minimal on-going source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

The Company may raise additional capital through the sale of its equity securities, through an offering of debt securities, or through borrowings from financial institutions or related parties. By doing so, the Company hopes to generate sufficient capital to execute its business plan of providing financial consulting services on an ongoing basis. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as a going concern.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash and cash equivalents

The Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties and all highly liquid investments with an original maturity of three months or less as cash equivalents.

Revenue recognition

The Company has realized minimal revenues from operations. The Company recognizes revenues when the sale and/or distribution of products is complete, risk of loss and title to the products have transferred to the customer, there is persuasive evidence of an agreement, acceptance has been approved by the customer, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is probable. Net sales will be comprised of gross revenues less expected returns, trade discounts, and customer allowances that will include costs associated with off-invoice markdowns and other price reductions, as well as trade promotions and coupons. The incentive costs will be recognized at the later of the date on which the Company recognized the related revenue or the date on which the Company offers the incentive.

Basic and Diluted Loss per Share

The Company computes loss per share in accordance with “ASC-260,” “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Diluted loss per share excludes all potential common shares if their effect is anti-dilutive. As of September 30, 2016 and March 31, 2016 there were warrants outstanding for 6,900,000 common shares. These warrants are not included in the diluted loss per share as the effect of the inclusion would be antidilutive.

Income Taxes

The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases.

The Company maintains a valuation allowance with respect to deferred tax asset. Greenhouse Solutions establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under Federal tax laws.

Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change estimate.

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Carrying Value, Recoverability and Impairment of Long-Lived Assets

The Company has adopted paragraph 360-10-35-17 of FASB Accounting Standards Codification for its long-lived assets. The Company’s long –lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.

The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the assets expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives.

The Company considers the following to be some examples of important indicators that may trigger an impairment review; (i) significant under-performance or losses of assets relative to expected historical or projected future operating results; (ii) significant changes in the manner or use of assets or in the Company’s overall strategy with respect to the manner of use of the acquired assets or changes in the Company’s overall business strategy; (iii) significant negative industry or economic trends; (iv) increased competitive pressures; (v) a significant decline in the Company’s stock price for a sustained period of time; and (vi) regulatory changes. The Company evaluates acquired assets for potential impairment indicators at least annually and more frequently upon the occurrence of such events.

The impairment charges, if any, are included in operating expenses in the accompanying statements of operations.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.

The Company’s significant estimates include income taxes provision and valuation allowance of deferred tax assets; the fair value of financial instruments; the carrying value and recoverability of long-lived assets, and the assumption that the Company will continue as a going concern. Those significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.

Management regularly reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates.

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Fair value of Financial Instruments

The estimated fair values of financial instruments were determined by management using available market information and appropriate valuation methodologies. The carrying amounts of financial instruments including cash approximate their fair value because of their short maturities.

Office Furniture and Equipment

Office furniture and equipment are recorded at cost and depreciated under the straight line method over the estimated useful life of the asset. At September 30, 2016 the Company had computer equipment of $1,398 with corresponding accumulated depreciation of $443 which is being depreciated over 5 years. Depreciation expense for the quarters ended September 30, 2016 and 2015 were $70 each respectively.

Long Lived Assets

In accordance with ASC 350 the Company regularly reviews the carrying value of intangible and other long lived assets for the existence of facts or circumstances both internally and externally that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long lived asset exceeds its fair value.

Stock-based Compensation

The Company accounts for stock-based compensation issued to employees based on FASB accounting standard for Share Based Payment. It requires an entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award – the requisite service period (usually the vesting period). It requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost will be measured based on the fair value of the equity or liability instruments issued. The scope of the FASB accounting standard includes a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans.

As of September 30, 2016 the Company had no stock-based compensation plans nor had it granted any stock options. Accordingly no stock-based compensation has been recorded to date.

Recent pronouncements

Management has evaluated accounting standards and interpretations issued but not yet effective as of September 30, 2016, and does not expect such pronouncements to have a material impact on the Company’s financial position, operations, or cash flows.

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NOTE 3. RELATED PARTY TRANSACTIONS

Transactions involving related parties cannot be presumed to be carried out on an arm’s length basis, as the requisite conditions of competitive, free market dealings may not exist. Representation about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of advances from stockholders due to their related party nature.

During the quarter ended September 30, 2016 a stockholder of the Company advanced a total of $23,760. In addition the Company incurred $27,500 in accounts payable to related parties. These payables represent compensation owed to these parties. These advances are unsecured, not represented by any formal loan agreement and bear no interest.

NOTE 4. STOCK ISSUED FOR ACCOUNTS PAYABLE

On September 23, 2016 the Company issued 503,245 shares of its common stock in settlement of $45,292 in accounts payable. The stock was valued at $0.09 per share which was the closing price of the stock on the date of approval and issuance of the shares. Since the valuation and the trading price were equivalent there is no gain or loss recognized.

NOTE 5. STOCKHOLDER’S DEFICIT

The total number of common shares authorized that may be issued by the Company is 200,000,000 shares with a par value of $0.0001 per share. The Company is authorized to issue 25,000,000 shares of preferred stock with a par value of $0.0001 per share. As at September 30, 2016 there are no preferred shares issued or outstanding.

As at September 30, 2016 the total number of common shares outstanding was 95,784,458. The Company has an ongoing program of private placements to raise funds to support the operations. During the quarter ended September 30, 2016 the Company did not receive any proceeds through private placement activity.

In August of 2015 the Company received notice from an investor that they wished to rescind the transaction and have their money refunded. Since the shares had not been issued the refund is shown as a liability of the Company.

As at September 30, 2016 there were money’s received for 662,000 shares that had not yet been issued.

NOTE 6. INCOME TAXES

A reconciliation of the provision for income taxes at the United States federal statutory rate of 34% and a Colorado state rate of 5% compared to the Company's income tax expense as reported is as follows:

	September 30, 2016			September 30, 2015
Net loss before income taxes	$	(104,264	)	$	(206,319	)
Income tax rate		39	%		39	%
Income tax recovery		(40,660	)		(80,465	)
Valuation allowance change		40,660			80,465
Provision for income taxes	$	-		$	-

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The significant components of deferred income tax assets at September 30, 2016 and 2015 are as follows:

	September 30, 2016			September 30, 2015
Net operating loss carry-forward	$	4,332,200		$	4,227,900
Valuation allowance		(4,332,200	)		(4,227,900	)
Net deferred income tax asset	$	-		$	-

As of September 30, 2016 and 2015, the Company has no unrecognized income tax benefits. The Company’s policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded during the years ended March 31, 2016 and 2015, and no interest or penalties have been accrued as of September 30, 2016 and 2015. As of September 30, 2016 and 2015 the Company did not have any amounts recorded pertaining to uncertain tax positions. Current management believes that the last time a corporation tax return was filed was for fiscal year 2010. Management is currently taking the necessary actions to correct this deficiency. Due to a history of ongoing losses it is not expected that there would be any penalties or interest owed due to the non-filing status.

The tax years from 2011 and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities

NOTE 7. RESTATEMENT

In connection with the filing of a restated form 10-K for the fiscal year ended March 31, 2015 there were certain adjustments made in each quarterly period during the fiscal year. Management has reviewed these changes for this current quarter and determined that the changes are not material. In the interests of clarity and information the following notes detailing the changes are hereby included:

	Condensed Statement of Operations
	September 30,			September 30,
	2015			2015
	Restated			As filed

Revenue	$	-		$	-
Cost of revenues		-			-
Gross profit		-			-

Operating expenses
Consulting services		-			8,500
Corporate communications		5,000			-
Depreciation expense		70			-
Management consulting - related parties		23,500			7,000
Professional fees		10,352			10,352
General and administrative		9,046			9,116
		47,968			34,968
Net loss from operations		(47,968	)		(34,968	)

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	Condensed Statement of Cash Flows
	September 30,			September 30,
	2015			2015
	Restated			As filed
Cash Flows from Operating Activities
Net Loss		(206,319	)		(187,389	)

Adjustments to reconcile net loss to net cash used in operating activities
Depreciation		140			210
Changes in operating assets and liabilities
Decrease in accounts receivable		19,366
(Decrease) in accounts payable and accrued liabilities		(54,022	)		(84,667	)
Increase in accounts payable - related parties		19,000
Increase in advances - related parties		(50,011	)		-

Net cash used in operating activities		(271,846	)		(271,846	)

Cash Flows from Financing Activities
Proceeds from Common Stock sales		265,000			265,000

Net (Decrease) in Cash		(6,846	)		(6,846	)

Cash at the Beginning of the Period		11,164			11,164

Cash at the End of the Period	$	4,318		$	4,318

NOTE 8. SUBSEQUENT EVENTS

Management has examined the activities of the Company subsequent to the closing date of these financial statements and had determined that there is nothing that requires disclosure.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements and Associated Risks.

This Form 10-Q contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose any statements contained in this Form 10-Q that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may", "will", "expect", "believe", "anticipate", "estimate, or "continue" or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control. These factors include but are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from much larger competitors; technological advances and failure to successfully develop business relationships.

Based on our financial history since inception, our auditor has expressed substantial doubt as to our ability to continue as a going concern. As reflected in the accompanying financial statements, as of September 30, 2016, we had an accumulated deficit totaling $4,025,111. This raises substantial doubts about our ability to continue as a going concern.

Plan of Operation

The Company was incorporated under the laws of the State of Nevada on April 8, 2009. The Company was involved in the sale and distribution of gardening products and greenhouses in the North American market. On September 2, 2009 we incorporated a wholly owned (ownership interest – 100%) subsidiary Greenhouse Solutions, Inc. an Ontario, Canada based company to facilitate our operations and cross border goods transfer to and from Canada. We did conduct our operations in Canada through our Canadian subsidiary and our operations in USA through our parent corporation, Greenhouse Solutions, Inc. (USA). References in this Report to “Greenhouse Solutions” refer to Greenhouse Solutions Inc. and its subsidiary, on a consolidated basis, unless otherwise indicated or the context otherwise requires. Operations of our subsidiary were discontinued and sold on September 9, 2011.

We have shifted our focus to developing and selling hemp oil based nutraceutical products and have entered into a joint venture agreement with Koios, LLC to further those objectives. Under this joint venture, we have introduced a nootropic beverage, the KOIOS Raspberry Wonder with Hemp, to the market through various distributors.

We do not expect to generate revenue for the next 12 months, which would be sufficient to sustain our operations. Accordingly, for the foreseeable future, we will continue to be dependent on additional financing in order to maintain our operations and continue with our corporate activities. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Results of Operations

For the Three Months ended September 30, 2016 compared to September 30, 2015

For the Quarter ended September 30, 2016, we had $0 in revenues compared to $Nil for the same period one year earlier. For the Quarter ended September 30, 2016, General and Administrative expenses were $550 as compared to $9,046 for the quarter ended September 30, 2015. For the Quarter ended September 30, 2016 we incurred $41,068 for professional fees compared to $10,352 for the same period in 2015. For the Quarter ended September 30, 2016 we incurred $25,500 for Management Fees paid to related parties compared to $23,500 for the same period in 2015. For the Quarter ended September 30, 2016 we incurred Corporate communication expense in the amount of $0 compared to $5,000 for the corresponding period in 2015. For the Quarter ended September 30, 2016 we incurred an operating loss of $67,188. This compares to the net loss of $47,968 sustained for the Quarter ended September 30, 2015. The difference in the overall operating expense increase for the Quarter ended September 30, 2016 is attributable in large part to the increased professional fees.

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For the Six Months ended September 30, 2016 compared to September 30, 2015

For the Six months ended September 30, 2016, we had $0 in revenues compared to $Nil for the same period one year earlier. For the Six months ended September 30, 2016, General and Administrative expenses were $4,757 as compared to $28,036 for the Six months ended September 30, 2015. For the Six months ended September 30, 2016 we incurred $48,367 for professional fees compared to $51,654 for the same period in 2015. For the Six months ended September 30, 2016 we incurred $51,000 for Management Fees paid to related parties compared to $49,000 for the same period in 2015. For the Six months ended September 30, 2016 we incurred Corporate communication expense in the amount of $0 compared to $20,000 for the corresponding period in 2015. For the Six months ended September 30, 2016 we incurred consulting services expenses of $0 compared to $42,489 for the same period in 2015. For the Six months ended September 30, 2016 we incurred Research and Development expenses of $0 compared to $15,000 for the same period ending in 2015. For the Six months ended September 30, 2016 we incurred an operating loss of $104,264. This compares to the net loss of $206,319 sustained for the Six months ended September 30, 2015.

Our auditor has expressed substantial doubt as to whether we will be able to continue to operate as a “going concern” due to the fact that the Company has an accumulated deficit of $4,332,158 as of September 30, 2016, and has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining the adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

Financing Activities

During the year ended March 31, 2016 the Company received $345,000 in private placement subscriptions for the Company's common stock and issued 2,350,000 shares which included shares for $90,000 which had been received in the prior year. As of March 31, 2016 there remained 137,000 shares which had been paid for but not issued. During the current year the Company issued 55,274 to a Related party for services rendered and authorized 1,178,939 shares for services rendered. Of these shares, 400,000 have not yet been issued. As of the date of these quarterly financial statements, a total of 537,000 common shares have not been issued.

On September 22, 2016, the Company’s Board of Directors approved an issuance of 503,245 shares to Consultants of the Company for past services, and registered the shares pursuant to a Stock Option, Stock Compensation and Award Plan. Please refer to the Company’s S-8 filed on September 22, 2016.

We intend to seek additional funding through public or private financings to fund our operations through fiscal 2017 and beyond. However, if we are unable to raise additional capital when required or on acceptable terms, or achieve cash flow positive operations, we may have to significantly delay product development and scale back operations both of which may affect our ability to continue as a going concern.

Investing Activities

The Company had no investing activities for the three months ended September 30, 2016.

Liquidity and Capital Resources

As at September 30, 2016, our cash balance was $Nil as compared to $4,318 at September 30, 2015. Our plan for satisfying our cash requirements for the next twelve months is through the sale of shares of our common stock, third party financing, and/or traditional bank financing. We do not anticipate generating sufficient amounts of revenues to meet our working capital requirements. Consequently, we intend to make appropriate plans to insure sources of additional capital in the future to fund growth and expansion through additional equity or debt financing or credit facilities.

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The Company must raise additional funds in order to fund our continued operations. We may not be successful in our efforts to raise additional funds or achieve profitable operations. Even if we are able to raise additional funds through the sale of our securities or through the issuance of debt securities, or loans from our directors or financial institutions our cash needs could be greater than anticipated in which case we could be forced to raise additional capital. At the present time, we have no commitments for any additional financing, and there can be no assurance that, if needed, additional capital will be available to us on commercially acceptable terms or at all. These conditions raise substantial doubt as to our ability to continue as a going concern, which may make it more difficult for us to raise additional capital when needed. If we cannot get the needed capital, we may not be able to become profitable and may have to curtail or cease our operations.

Off Balance Sheet Arrangements

None

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 4. Controls and Procedures

Disclosure Controls and Procedures

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time period specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is accumulated and communicated to management including our principal executive officer and principal financial officer as appropriate, to allow timely decisions regarding required disclosure.

Management has carried out an evaluation of the effectiveness of the design and operation of our company’s disclosure controls and procedures. Due to the lack of personnel and outside directors, management acknowledges that there are deficiencies in these controls and procedures. For further information and disclosures the reader is directed to the most recent filing of Form 10-K annual report on file with the United States Securities and Exchange Commission, specifically ITEM 9A Controls and Procedures.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) or 15d-15(f)) during the quarter ended September 30, 2016 that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

Not Applicable to Smaller Reporting Companies.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The Company had no unregistered sales of equity securities in the three months ended September 30, 2016.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURE

Not Applicable.

ITEM 5. OTHER INFORMATION

None.

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ITEM 6. EXHIBITS

Exhibits. The following is a complete list of exhibits filed as part of this Form 10-Q. Exhibit numbers correspond to the numbers in the Exhibit Table of Item 601 of Regulation S-K.

31.1		Certification of Chief Executive Officer and Acting Chief Financial Officer Pursuant to Rule 13a–14(a) or 15d-14(a) of the Securities Exchange Act of 1934
32.1		Certification of Chief Executive Officer and Acting Chief Financial Officer under Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		XBRL Instance Document (1)
101.SCH		XBRL Taxonomy Extension Schema Document (1)
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document (1)
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document (1)
101.LAB		XBRL Taxonomy Extension Label Linkbase Document (1)
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document (1)

__________________

(1) Pursuant to Rule 406T of Regulation S-T, this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections.

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SIGNATURES

Pursuant to the requirements of Section 12 of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		GREENHOUSE SOLUTIONS, INC.
		(Registrant)

Dated: November 15, 2016	By:	/s/ Rik J. Deitsch
		Rik J. Deitsch
		(Chief Executive Officer, Principal Executive Officer, Acting Chief Financial Officer and Principal Accounting Officer)

Greenhouse Solutions, Inc. 10-Q