Schedule of Discontinued Operations Included in Statements of Operations and Assets and Liabilities in Discontinued Operations |
As of December 31, 2018 and September 30, 2018, assets and liabilities from discontinued operations are listed below:
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December 31,
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September 30,
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2018
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2018
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(unaudited)
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Current assets:
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Cash
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$ 1,991
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$ 285
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Accounts receivable, net
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36,403
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-
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Note and interest receivable related party
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25,336
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-
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Assets from discontinued operations
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63,730
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285
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Current liabilities:
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Accounts payable
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$ 64,275
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$ 10,086
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Deferred revenue, current portion
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19,820
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28,720
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Deferred rent, current portion
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2,510
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-
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Installment loan, net of debt issuance cost, current portion
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37,546
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-
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Due to unrelated parties
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68,000
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68,000
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Current liabilities from discontinued operations
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192,151
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106,806
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Long Term Liabilities
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Deferred revenue, net of current
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10,601
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-
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Deferred rent, long term portion
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1,212
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-
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Installment loan, net of current
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5,294
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-
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Long term liabilities from discontinued operations
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17,107
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-
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The following table illustrates the reporting of the discontinued operations included in the Statements of Operations for the three months ended December 31, 2018 and 2017.
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For the three months ended December 31, 2018
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For the three months ended December 31, 2017
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Revenue
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$ 45,551
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$22,618
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Cost of revenue
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8,994
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8,088
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Gross profit
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36,557
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14,530
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Operating expenses:
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Selling expenses
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4,706
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7,686
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Administrative expenses
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26,596
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13,591
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Total operating expenses
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31,302
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21,277
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Income (Loss) from operations
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5,255
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(6,747)
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Other Income (Expense)
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Other income
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1,596
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-
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Interest and other expense
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(1,405)
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-
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Total Other Income Expense
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191
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-
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Income (Loss) Before Income Taxes
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5,446
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(6,747)
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Provision for income taxes
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-
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-
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Income (Loss) from discontinued operations
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$ 5,446
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$ (6,747)
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