Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.22.1
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2021 and 2020 consisted of the following:

 

HTS and AMSG Assets and Liabilities:

 

   

December 31,

2021

    

December 31,

2020

  
             
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:

 

    December 31,
2021		     December 31,
2020		  
             
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  
Right-of-use assets     -       100,116  
Non-current assets classified as held for sale   $ -     $ 200,130  
                 
Accounts payable and checks in excess of bank balance   $ 1,108,066     $ 1,185,158  
Accrued expenses     341,410       334,667  
Current portion of right-of-use operating lease obligation     -       91,166  
Current portion of notes payable     -       -  
Current liabilities classified as held for sale   $ 1,449,476     $ 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:

 

    December 31,
2021		     December 31,
2020		  
             
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  
Right-of-use assets     -       100,116  
Non-current assets classified as held for sale   $ -     $ 200,815
                 
Accounts payable and checks issued in excess of bank balance   $ 1,108,066     $ 1,911,378  
Accrued expenses     341,410       1,642,950  
Current portion of right-of-use-operating lease obligation     -       91,166  
Current portion of notes payable     -       168,751  
Current liabilities classified as held for sale   $ 1,449,476     $ 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 loss from discontinued operations in the consolidated statements of operations for the years ended December 31, 2021 and 2020 consisted of the following:

 

AMSG & HTS Group Income (Loss) from Discontinued Operations:

 

    Year Ended December 31,  
    2021     2020  
             
Revenue from services**   $ 216,941     $ 528,624  
Cost of services     2,386       5,536  
Gross profit     214,555       523,088  
Operating expenses     (551,296 )     (1,045,410 )
Other expense, net     (9,577 )     (84,129 )
Gain on sale     11,303,939       -  
Provision for income taxes     -       -  
Income (loss) from discontinued operations   $ 10,957,621     $ (606,451 )

 

** Revenue from services includes related party revenue of $0.2 million and $0.2 million, respectively.

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

 

    Year Ended December 31,  
    2021     2020  
             
Revenue from services   $ -     $ 442  
Cost of services     -       -  
Gross profit     -       442  
Operating expenses     131,363       138,816  
Other income, net     51,272       48,758  
Gain on sale     -       -  
Provision for income taxes     -       -  
Income (loss) from discontinued operations   $ (80,091 )   $ (89,616 )

 

Consolidated Income (Loss) from Discontinued Operations:

 

    Year Ended December 31,  
    2021     2020  
             
Revenue from services   $ 216,941     $ 529,066  
Cost of services     2,396       5,536  
Gross profit     214,555       523,530  
Operating expenses     682,659       1,184,226  
Other income (expense), net     41,695       (35,371 )
Gain on sale     11,303,939       -  
Provision for income taxes     -       -  
Income (loss) from discontinued operations   $ 10,877,530     $ (696,067 )