Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.21.2
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operation of Balance Sheet and Operation Statement

Carrying amounts of major classes of assets and liabilities sold or included as part of discontinued operations in the consolidated balance sheets as of June 30, 2021 and December 31, 2020 consisted of the following:

 

HTS and AMSG Assets and Liabilities:

 

    June 30, 2021     December 31, 2020  
      (unaudited)          
Cash   $ -     $ 31,294  
Accounts receivable, net     -       151,363  
Prepaid expenses and other current assets     -       1,717  
Current assets classified as held for sale   $ -     $ 184,374  
                 
Property and equipment, net   $ -     $ 685  
Deposits     -       -  
Right-of-use assets     -       -  
Non-current assets classified as held for sale   $ -     $ 685  
                 
Accounts payable and checks issued in excess of bank balance   $ -     $ 726,220  
Accrued expenses     -       1,308,283  
Current portion of right-of-use operating lease obligation     -       -  
Current portion of notes payable     -       168,751  
Current liabilities classified as held for sale   $ -     $ 2,203,254  
                 
Note payable   $ -     $ 69,267  
Right-of-use operating lease obligation     -       -  
Non-current liabilities classified as held for sale   $ -     $ 69,267  

 

EPIC Reference Labs, Inc. and Other Subsidiaries Assets and Liabilities:

 

    June 30, 2021     December 31, 2020  
    (unaudited)        
Cash   $ -     $ 136  
Accounts receivable, net     -       -  
Prepaid expenses and other current assets     -       -  
Current assets classified as held for sale   $ -     $ 136  
                 
Property and equipment, net   $ -     $ -  
Deposits     100,014       100,014  
Right-of-use assets     52,284       100,116  
Non-current assets classified as held for sale   $ 152,298     $ 200,130  
                 
Accounts payable and checks in excess of bank balance   $ 1,144,088     $ 1,185,158  
Accrued expenses     336,410       334,667  
Current portion of right-of-use operating lease obligation     52,284       91,166  
Current portion of notes payable     -       -  
Current liabilities classified as held for sale   $ 1,532,782     $ 1,610,991  
                 
Note payable   $ -     $ -  
Right-of-use operating lease obligation     -       8,950  
Non-current liabilities classified as held for sale   $ -     $ 8,950  

 

 

Consolidated Discontinued Operations Assets and Liabilities:

 

    June 30, 2021     December 31, 2020  
      (unaudited)          
Cash   $ -     $ 31,430  
Accounts receivable, net     -       151,363  
Prepaid expenses and other current assets     -       1,717  
Current assets classified as held for sale   $ -     $ 184,510  
                 
Property and equipment, net   $ -     $ 685  
Deposits     100,014       100,014  
Right-of-use assets     52,284       100,116  
Non-current assets classified as held for sale   $ 152,298     $ 200,815  
                 
Accounts payable and checks issued in excess of bank balance   $ 1,144,088     $ 1,911,378  
Accrued expenses     336,410       1,642,950  
Current portion of right-of-use operating lease obligation     52,284       91,166  
Current portion of notes payable     -       168,751  
Current liabilities classified as held for sale   $ 1,532,782     $ 3,814,245  
                 
Note payable   $ -     $ 69,267  
Right-of-use operating lease obligation     -       8,950  
Non-current liabilities classified as held for sale   $ -     $ 78,217  

 

Major line items constituting income (loss) from discontinued operations in the consolidated statements of operations for the three and six months ended June 30, 2021 and 2020 consisted of the following (unaudited):

 

 

HTS and AMSG Income (Loss) from Discontinued Operations:

 

    Three Months Ended June 30, 2021    

Three

Months

Ended June 30, 2020

     Six Months Ended June 30, 2021     Six Months Ended June 30, 2020  
Revenue from services   $ 98,725     $ 103,110     $ 216,941     $ 262,177  
Cost of services     1,996       2,212       2,386       10,989  
Gross profit     96,729       100,898       214,555       251,188  
Operating expenses     (267,796 )      (67,366 )      (551,296 )      (251,734 ) 
Other income (expense)     213     (25,500 )      (9,577 )      (51,431 ) 
Gain on sale     10,727,152     -       10,727,152     -  
Provision for income taxes     -       -       -       -  
Income (loss) from discontinued operations   $ 10,556,298     $ 8,032     $ 10,380,834     $ (51,977 )

 

EPIC Reference Labs, Inc. and Other Subsidiaries (Loss) Income from Discontinued Operations:

 

    Three Months Ended June 30, 2021    

Three

Months

Ended June 30, 2020

     Six Months Ended June 30, 2021     Six Months Ended June 30, 2020  
Revenue from services   $ -     $ -     $ -     $ 442  
Cost of services     -       110,257       -       -  
Gross profit     -       (110,257 )     -       442  
Operating expenses     (46,759 )      (22,537 )      (94,856 )      (51,653 ) 
Other income (expense)     51,876     93,035     48,771     90,392
Gain on sale     -       -      

-

       -  
Provision for income taxes     -       -       -       -  
Income (loss) from discontinued operations   $ 5,117     $ (39,759 )   $ (46,085 )   $ 39,181  

 

Consolidated (Loss) Income from Discontinued Operations:  

 

    Three Months Ended June 30, 2021    

Three

Months

Ended June 30, 2020

     Six Months Ended June 30, 2021     Six Months Ended June 30, 2020  
Revenue from services   $ 98,725     $ 103,110     $ 216,941     $ 262,619  
Cost of services     1,996       112,469       2,386       10,989  
Gross profit     96,729       (9,359 )     214,555       251,630  
Operating expenses     (314,555 )      (89,903 )      (646,152 )      (303,387 ) 
Other income (expense)     52,089     67,535     39,194     38,961
Gain on sale     10,727,152     -       10,727,152     -  
Provision for income taxes     -       -       -       -  
Income (loss) from discontinued operations   $ 10,561,415     $ (31,727 )   $ 10,334,749     $ (12,796 )