Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.19.1
DISCONTINUED OPERATIONS (Tables)
6 Months Ended
Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations Included in Statements of Operations and Assets and Liabilities in Discontinued Operations

As of March 31, 2019 and September 30, 2018, assets and liabilities from discontinued operations are listed below:

 

March 31,

 

September 30,

 

2019

 

2018

 

(unaudited)

 

 

Current assets:

     

Cash

 $       12,415

 $              285

Accounts receivable, net

            8,334

                     -

Assets from discontinued operations

 $       20,749

 $              285

 

Current liabilities:

Accounts payable and accrued expenses

 $       65,254

 $          10,086

Deferred revenue, current portion

          26,598

             28,720

Deferred rent, current portion

            1,455

                     -

Installment loan, net, current portion

          33,457

                     -

Due to unrelated parties

          68,000

             68,000

Current liabilities from discontinued operations

        194,764

           106,806

 

Long Term Liabilities

Deferred revenue, net of current

          13,007

                     -

Deferred rent, long term portion

            1,551

                     -

Long term liabilities from discontinued operations

          14,558

                     -

Liabilities from discontinued operations

 $      209,322

 $     106,806

 

The following table illustrates the reporting of the discontinued operations included in the Statements of Operations for the three month periods ended March, 31, 2019 and 2018:

 

   

For the three

 

For the three

 
   

months ended

 

months ended

 
   

March 31, 2019

 

March 31, 2018

 
           
           

Revenue

 

 $            11,509

 $           112,144

 

Cost of Revenue

 

               14,107

               79,645

 

Gross Profit

 

                (2,598)

               32,499

 
   
 

Operating Expenses:

 
 

   Selling expenses

 

                 2,364

                 8,609

 

   Administrative expenses

 

               45,051

               26,041

 

   Total Operating Expenses

 

               47,415

               34,650

 
   
 

Loss from operations

 

              (50,013)

                (2,151)

 
   
 

Other Income (Expense)

 
 

Other Income

 

               13,500

                        -

 

Interest and other expense

 

                (7,022)

                        -

 

Total Other Income

 

                 6,478

                        -

 
   
 

Loss Before Income Taxes

 

              (43,535)

                (2,151)

 

Provision for Income Taxes

 

                        -

                        -

 
   
 

Loss from discontinued operations

 

 $           (43,535)

 $             (2,151)

 
   
 

 

The following table illustrates the reporting of the discontinued operations included in the Statements of Operations for the six month periods ended March, 31, 2019 and 2018.


   

For the six

 

For the six

   

months ended

 

months ended

   

March 31, 2019

 

March 31, 2018

         

Revenue

 

 $            57,060

 $          134,762

Cost of Revenue

 

               23,101

               87,733

Gross Profit

 

               33,959

               47,029

   

Operating Expenses:

 

   Selling expenses

 

                 7,070

               16,295

   Administrative expenses

 

               71,647

               39,632

   Total Operating Expenses

 

               78,717

               55,927

   

Loss from operations

 

              (44,758)

                (8,898)

   

Other Income (Expense)

 

Other Income

 

               15,096

                        -

Interest and other expense

 

                (8,427)

                        -

Total Other Income

 

                 6,669

                        -

   

Loss Before Income Taxes

 

              (38,089)

                (8,898)

Provision for Income Taxes

 

                        -

                        -

Loss from discontinued operations

 

 $           (38,089)

 $             (8,898)