| 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 year ended September 30, 2019.
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For the period from October 1, 2019 to February 14, 2020
(Deconsolidation Date)
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For the Year
Ended
September 30, 2019
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Revenue
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$ 27,698
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$ 87,254
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Cost of Revenue
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12,383
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38,910
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Gross Profit
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15,315
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48,344
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Operating Expenses:
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Selling expenses
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3,862
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17,032
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Administrative expenses
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24,151
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71,770
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Professional Fees
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50,007
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66,968
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Total Operating Expenses
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78,020
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155,770
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Loss from operations
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(62,705)
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(107,426)
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Other Income (Expense)
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Other Income
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5,750
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23,358
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Interest and other expense
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(7,981)
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(20,479)
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Total Other Income (Expense)
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(2,231)
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2,879
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Loss Before Income Taxes
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(64,936)
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(104,547)
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Provision for Income Taxes
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-
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-
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Loss from discontinued operations
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$ (64,936)
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$ (104,547)
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On February 14, 2020, the Company recorded $225,316 to additional paid in capital for deconsolidation of VoiceInterop, Inc. and discontinued operations are not presented.
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February 14,
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September 30,
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2020
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2019
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(Deconsolidation Date)
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Current assets:
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Cash
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$ 2,279
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$ 4,136
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Accounts Receivable
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4,780
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-
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Operating lease asset, net
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62,226
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-
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Total Assets from discontinued operations
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$ 69,285
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$ 4,136
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Current liabilities:
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Accounts payable and accrued expenses
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$ 92,236
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$ 77,584
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Operating lease liability, current
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33,941
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-
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Deferred revenue, current portion
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17,357
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23,492
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Deferred rent, current portion
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-
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896
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Installment loan, net, current portion
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31,269
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14,587
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Due to related parties
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11,362
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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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Total Current liabilities from discontinued operations
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254,165
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184,559
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Long Term Liabilities
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Deferred revenue, net of current
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8,263
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9,987
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Deferred rent, long term portion
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-
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680
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Operating lease liability, net of current
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32,173
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-
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Deferred revenue, current portion
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-
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-
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Total Long term liabilities from discontinued operations
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40,436
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10,667
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Total Liabilities from discontinued operations
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$ 294,601
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$ 195,226
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