Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

6 Months Ended

Mar. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

NOTE 8 DISCONTINUED OPERATIONS

In March 2018, the Company approved the spin-off Voiceinterop into a separate company under a Form S-1 registration to be filed with the United States Securities and Exchange Commission.

On April 23, 2018, the board of Directors declared a stock dividend for certain shareholders of the Company. The Company will distribute to its shareholders owning Common Stock and Series C and D Preferred stock an aggregate of 17,819,627 shares of shares of Common Stock of Voiceinterop. That each common shareholder would receive .075 shares of Voiceinterop common stock for each one (1) share of Cleartronic stock held by the shareholder, and that each shareholder of Series C and D Preferred stock shall receive .375 shares of Voiceinterop common stock for each one (1) share of Series C or Series D Preferred stock held by the shareholder.

The record date of the dividend distribution shall be defined as the first business day following an effective statement from the United States Securities and Exchange Commission (SEC) regarding a pending S-1 filing. On May 13, 2019 Voiceinterop filed an S-1 registration statement with the SEC. On November 14, 2019, Voiceinterop, Incs., S-1 Registration Statement was declared effective by Securities and Exchange Commission.

The Companys history is being reviewed by the Financial Industry Regulatory Authority (FINRA) and as of the date of this filing the review is not been completed. No dividends can be distributed until that review is completed and approved by FINRA. On February 14, 2020, the distribution of shares was approved by FINRA and completed and deconsolidation was completed.

The following table illustrates the reporting of the discontinued operations included in the Statements of Operations for the period from January 1, 2020 to February 14, 2020 and for the three months ended March 31, 2019.


	For the period
	From January 1, 2020	For the Three
	to	Months Ended
	February 14, 2020	March 31 , 2020
	(Unaudited)	(Unaudited)

Revenue	$ 14,555	$ 11,509
Cost of Revenue	10,633	14,107
Gross Profit	3,922	(2,598)

Operating Expenses:
Selling expenses	3,079	2,364
Administrative expenses	3,204	32,046
Professional Fees	41,449	13,005
Total Operating Expenses	47,732	47,415

Loss from operations	(43,810)	(50,013)

Other Income (Expense)
Other Income	2,300	13,500
Interest and other expense	-	(7,022)
Total Other Income (Expense)	2,300	6,478

Loss Before Income Taxes	(41,510)	(43,535)
Provision for Income Taxes	-	-
Loss from disontinued operations	$ (41,510)	$ (43,535)

The following table illustrates the reporting of the discontinued operations included in the Statements of Operations for the period from October 1, 2019 to February 14, 2020 and for the six months period ended March 31, 2019.


	For the period from	For the Six
	October 1, 2019 to	Months Ended
	February 14, 2020	March 31, 2019
	(Unaudited)	(Unaudited)

Revenue	$ 27,698	$ 57,060
Cost of Revenue	12,383	23,101
Gross Profit	15,315	33,959

Operating Expenses:
Selling expenses	3,862	7,070
Administrative expenses	24,151	43,642
Professional Fees	50,007	28,005
Total Operating Expenses	78,020	78,717

Loss from operations	(62,705)	(44,758)

Other Income (Expense)
Other Income	5,750	15,096
Interest and other expense	(7,981)	(8,427)
Total Other Income (Expense)	(2,231)	6,669

Loss Before Income Taxes	(64,936)	(38,089)
Provision for Income Taxes	-	-
Loss from disontinued operations	$ (64,936)	$ (38,089)

On February 14, 2020, the Company recorded $225,316 to additional paid in capital for deconsolidation of VoiceInterop, Inc. and discontinued operations are not presented.


	February 14,	September 30,
	2020	2019
	(Unaudited)
Current assets:
Cash	$ 2,279	$ 4,136
Accounts Receivable	4,780	-
Operating lease asset, net	62,226	-

Total Assets from discontinued operations	$ 69,285	$ 4,136

Current liabilities:
Accounts payable and accrued expenses	$ 92,236	$ 77,584
Operating lease liability, current	33,941	-
Deferred revenue, current portion	17,357	23,492
Deferred rent, current portion	-	896
Installment loan, net, current portion	31,269	14,587
Due to related parties	11,362	-
Due to unrelated parties	68,000	68,000
Total Current liabilities from discontinued operations	254,165	184,559

Long Term Liabilities
Deferred revenue, net of current	8,263	9,987
Deferred rent, long term portion	-	680
Operating lease liability, net of current	32,173	-
Deferred revenue, current portion	-	-
Total Long term liabilities from discontinued operations	40,436	10,667

Total Liabilities from discontinued operations	$ 294,601	$ 195,226