Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations

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Discontinued Operations
 6 Months Ended
Jun. 30, 2024
Discontinued Operations [Abstract]  
DISCONTINUED OPERATIONS

NOTE 10 – DISCONTINUED OPERATIONS

 

During the year ended December 31, 2023, the Company sold and disposed of our assets associated with the Clinics operations in Los Angeles, CA and disposed of our services in the U.K. The lease associated with the related property in Los Angeles was assumed by the buyer in the transaction.

 

As of June 30, 2024 and December 31, 2023, the carrying amounts of the classes of assets and liabilities related to the discontinued operations of the Clinics operations were $0.

 

The results of operations from discontinued operations for the three and six months ended June 30, 2024 and 2023, have been reflected in the condensed consolidated statements of operations and consist of the following:

 

   

Three Months Ended

June 30,

    

Six Months Ended

June 30,

  
    2024     2023     2024     2023  
Revenues   $
-
     $
-
     $
-
     $
-
  
Cost of services    
-
      
-
      
-
      
-
  
Gross margin    
-
      
-
      
-
      
-
  
                                 
General and administrative    
-
       165,146      
-
       502,063  
Loss from discontinued operations    
-
       (165,146 )    
-
       (502,063 )
Gain on sale of assets    
-
      
-
      
-
       65,048  
Loss from discontinued operations, before income tax    
-
       (165,146 )    
-
       (437,015 )
Income tax expense    
-
      
-
      
-
      
-
  
Net loss from discontinued operations, net of tax   $
-
     $ (165,146 )   $
-
     $ (437,015 )
                                 
Weighted-average common shares outstanding, basic and diluted
     1,043,312       1,306,401       1,042,895       1,305,034  
Basic and diluted loss per share from discontinued operations
   $
-
     $ (0.13 )   $
-
     $ (0.38 )

 

In accordance with U.S. GAAP, only expenses specifically identifiable and related to a business to be disposed may be allocated to discontinued operations. As such, the general and administrative expenses recorded in discontinued operations include corporate costs incurred directly in support of the Clinics business.