| 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.
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For the period | |
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From October 1, 2019 to | |
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February 14, 2020
(Deconsolidation Date) | |
Revenue |
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$ |
27,698 | |
Cost of Revenue |
|
12,383 | |
Gross Profit |
|
15,315 | |
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Operating Expenses: |
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Selling expenses |
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3,862 | |
Administrative expenses |
|
24,151 | |
Professional Fees |
|
50,007 | |
Total Operating Expenses |
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78,020 | |
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Loss from operations |
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(62,705) | |
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Other Income (Expense) |
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Other Income |
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5,750 | |
Interest and other expense |
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(7,981) | |
Total Other Expense |
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(2,231) | |
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Loss Before Income Taxes |
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(64,936) | |
Provision for Income Taxes |
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- | |
Loss from discontinued operations |
$ |
(64,936) |
On February 14, 2020, the Company recorded $225,316 to additional paid in capital for deconsolidation of VoiceInterop, Inc. and discontinued operations are not presented.
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February 14, 2020 | |
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(Deconsolidation Date) | |
Current assets: |
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Cash |
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$ |
2,279 | |
Accounts Receivable |
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4,780 | |
Operating lease asset, net |
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62,226 | |
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Total Assets from discontinued operations |
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$ |
69,285 | |
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Current liabilities: |
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Accounts payable and accrued expenses |
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$ |
92,236 | |
Operating lease liability, current |
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33,941 | |
Deferred revenue, current portion |
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17,357 | |
Installment loan, net, current portion |
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31,269 | |
Due to related parties |
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11,362 | |
Due to unrelated parties |
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68,000 | |
Total Current liabilities from discontinued operations |
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254,165 | |
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Long Term Liabilities |
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Deferred revenue, net of current |
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8,263 | |
Operating lease liability, net of current |
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32,173 | |
Total Long term liabilities from discontinued operations |
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40,436 | |
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Total Liabilities from discontinued operations |
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$ |
294,601
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