Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.20.2
DISCONTINUED OPERATIONS (Tables)
9 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations Included in Statements of Operations and Assets and Liabilities in Discontinued Operations

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 nine months period ended June 30, 2019.

     

 

For the period from

For the Nine

 

October 1, 2019 to

Months Ended

 

February 14, 2020

June 30, 2019

 

(Unaudited)

(Unaudited)

 

 

 

Revenue

 $                 27,698

 $               75,721

Cost of Revenue

                    12,383

                    25,395

Gross Profit

                    15,315

                    50,326

 

   

Operating Expenses:

   

   Selling expenses

                     3,862

                     10,200

   Administrative expenses

                    24,151

                    18,374

   Professional Fees

                    50,007

                           48,271

   Total Operating Expenses

                    78,020

                    76,845

 

   

Loss from operations

                   (62,705)

                   (26,519)

 

   

Other Income (Expense)

   

Other Income

                     5,750

                    19,947

Interest and other expense

                    (7,981)

                    (17,180)

Total Other Income (Expense)

                    (2,231)

                     2,767

 

   

Loss Before Income Taxes

                   (64,936)

                   (23,752)

Provision for Income Taxes

                            -

                            -

Loss from discontinued operations

    $               (64,936)

     $              (23,752)

 

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