Schedule of Discontinued Operation of Balance Sheet and Operation Statement |
Carrying amounts of major classes of assets
and liabilities classified as held for sale and included as part of discontinued operations in the condensed consolidated balance
sheets consisted of the following:
AMSG Assets and Liabilities:
|
|
June 30, 2019 |
|
|
December 31, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Cash |
|
$ |
220 |
|
|
$ |
4,471 |
|
Accounts receivable, net |
|
|
27,321 |
|
|
|
6,838 |
|
Prepaid expenses and other current assets |
|
|
- |
|
|
|
25,477 |
|
Current assets classified as held for sale |
|
$ |
27,541 |
|
|
$ |
36,786 |
|
|
|
|
|
|
|
|
|
|
Accounts payable (includes related parties) |
|
$ |
533,856 |
|
|
$ |
532,858 |
|
Accrued expenses |
|
|
478,119 |
|
|
|
418,932 |
|
Current portion of notes payable |
|
|
270,737 |
|
|
|
278,836 |
|
Current liabilities classified as held for sale |
|
$ |
1,282,712 |
|
|
$ |
1,230,626 |
|
|
|
|
|
|
|
|
|
|
Non-current liabilities classified as held for sale |
|
$ |
- |
|
|
$ |
- |
|
HTS Assets and Liabilities:
|
|
June 30, 2019 |
|
|
December 31, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Cash |
|
$ |
5,149 |
|
|
$ |
2,523 |
|
Accounts receivable, net |
|
|
266,585 |
|
|
|
90,743 |
|
Prepaid expenses and other current assets |
|
|
6,867 |
|
|
|
10,300 |
|
Current assets classified as held for sale |
|
$ |
278,601 |
|
|
$ |
103,566 |
|
|
|
|
|
|
|
|
|
|
Property and equipment, net |
|
$ |
6,683 |
|
|
$ |
5,790 |
|
Deposits |
|
|
6,029 |
|
|
|
6,029 |
|
Non-current assets classified as held for sale |
|
$ |
12,712 |
|
|
$ |
11,819 |
|
|
|
|
|
|
|
|
|
|
Accounts payable (includes related parties) |
|
$ |
649,009 |
|
|
$ |
546,969 |
|
Accrued expenses |
|
|
686,291 |
|
|
|
520,251 |
|
Current portion of notes payable |
|
|
- |
|
|
|
- |
|
Current liabilities classified as held for sale |
|
$ |
1,335,300 |
|
|
$ |
1,067,220 |
|
Total Discontinued Assets and Liabilities:
|
|
June 30, 2019 |
|
|
December 31, 2018 |
|
|
|
|
(unaudited) |
|
|
|
(unaudited) |
|
Cash |
|
$ |
5,369 |
|
|
$ |
6,994 |
|
Accounts receivable, net |
|
|
293,906 |
|
|
|
97,581 |
|
Prepaid expenses and other current assets |
|
|
6,867 |
|
|
|
35,777 |
|
Current assets classified as held for sale |
|
$ |
306,142 |
|
|
$ |
140,352 |
|
|
|
|
|
|
|
|
|
|
Property and equipment, net |
|
$ |
6,683 |
|
|
$ |
5,790 |
|
Deposits |
|
|
6,029 |
|
|
|
6,029 |
|
Non-current assets classified as held for sale |
|
$ |
12,712 |
|
|
$ |
11,819 |
|
|
|
|
|
|
|
|
|
|
Accounts payable (includes related parties) |
|
$ |
1,182,865 |
|
|
$ |
1,079,827 |
|
Accrued expenses |
|
|
1,164,410 |
|
|
|
939,183 |
|
Current portion of notes payable |
|
|
270,737 |
|
|
|
278,836 |
|
Current liabilities classified as held for sale |
|
$ |
2,618,012 |
|
|
$ |
2,297,846 |
|
Major line items constituting loss from discontinued
operations in the condensed consolidated statements of operations for the three months ended June 30, 2019 and 2018 consisted of
the following:
AMSG Loss from Discontinued Operations:
|
|
Three Months Ended |
|
|
|
June 30, 2019 |
|
|
June 30, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenue from services |
|
$ |
25,500 |
|
|
$ |
45,156 |
|
Cost of services |
|
|
7,105 |
|
|
|
6,075 |
|
Gross profit |
|
|
18,395 |
|
|
|
39,080 |
|
Operating expenses |
|
|
74,008 |
|
|
|
94,683 |
|
Other expense (income) |
|
|
3,002 |
|
|
|
(13,313 |
) |
Provision for income taxes |
|
|
- |
|
|
|
- |
|
Loss from discontinued operations |
|
$ |
(58,615 |
) |
|
$ |
(42,290 |
) |
HTS Loss from Discontinued Operations:
|
|
Three Months Ended |
|
|
|
June 30, 2019 |
|
|
June 30, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenue from services |
|
$ |
351,380 |
|
|
$ |
441,458 |
|
Cost of services |
|
|
31,304 |
|
|
|
31,665 |
|
Gross profit |
|
|
320,076 |
|
|
|
409,793 |
|
Operating expenses |
|
|
406,712 |
|
|
|
510,589 |
|
Other expense |
|
|
- |
|
|
|
3,491 |
|
Provision for income taxes |
|
|
- |
|
|
|
- |
|
Loss from discontinued operations |
|
$ |
(86,636 |
) |
|
$ |
(104,287 |
) |
Consolidated Loss from Discontinued Operations:
|
|
Three Months Ended |
|
|
|
June 30, 2019 |
|
|
June 30, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenue from services |
|
$ |
376,880 |
|
|
$ |
486,614 |
|
Cost of services |
|
|
38,409 |
|
|
|
37,740 |
|
Gross profit |
|
|
338,471 |
|
|
|
448,874 |
|
Operating expenses |
|
|
480,720 |
|
|
|
605,272 |
|
Other expense (income) |
|
|
3,002 |
|
|
|
(9,821 |
) |
Provision for income taxes |
|
|
- |
|
|
|
- |
|
Loss from discontinued operations |
|
$ |
(145,251 |
) |
|
$ |
(146,577 |
) |
Major line items constituting loss from discontinued
operations in the condensed consolidated statements of operations for the six months ended June 30, 2019 and 2018 consisted of
the following:
AMSG (Loss) Income from Discontinued Operations:
|
|
Six Months Ended |
|
|
|
June 30, 2019 |
|
|
June 30, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenue from services |
|
$ |
48,482 |
|
|
$ |
78,841 |
|
Cost of services |
|
|
23,760 |
|
|
|
22,214 |
|
Gross profit |
|
|
24,722 |
|
|
|
56,627 |
|
Operating expenses |
|
|
176,618 |
|
|
|
270,885 |
|
Other expense (income) |
|
|
28,962 |
|
|
|
(813,510 |
) |
Provision for income taxes |
|
|
- |
|
|
|
- |
|
(Loss) income from discontinued operations |
|
$ |
(180,858 |
) |
|
$ |
599,252 |
|
HTS Loss from Discontinued Operations:
|
|
Six Months Ended |
|
|
|
June 30, 2019 |
|
|
June 30, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenue from services |
|
$ |
471,469 |
|
|
$ |
791,971 |
|
Cost of services |
|
|
63,494 |
|
|
|
65,883 |
|
Gross profit |
|
|
407,975 |
|
|
|
726,088 |
|
Operating expenses |
|
|
880,977 |
|
|
|
1,044,155 |
|
Other expense |
|
|
- |
|
|
|
5,969 |
|
Provision for income taxes |
|
|
- |
|
|
|
- |
|
Loss from discontinued operations |
|
$ |
(473,002 |
) |
|
$ |
(324,036 |
) |
Consolidated (Loss) Income from Discontinued Operations:
|
|
Six Months Ended |
|
|
|
June 30, 2019 |
|
|
June 30, 2018 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenue from services |
|
$ |
519,951 |
|
|
$ |
870,812 |
|
Cost of services |
|
|
87,254 |
|
|
|
88,097 |
|
Gross profit |
|
|
432,697 |
|
|
|
782,715 |
|
Operating expenses |
|
|
1,057,595 |
|
|
|
1,315,040 |
|
Other expense (income) |
|
|
28,962 |
|
|
|
(807,541 |
) |
Provision for income taxes |
|
|
- |
|
|
|
- |
|
(Loss) income from discontinued operations |
|
$ |
(653,860 |
) |
|
$ |
275,216 |
|
|