| Schedule of Discontinued Operations in the Condensed Consolidated Statements of Operations |
The results of operations from discontinued operations for
the three and nine months ended September 30, 2023 and 2022, have been reflected in the condensed
consolidated statements of operations and consist of the following:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Revenues |
|
$ |
- |
|
|
$ |
218,608 |
|
|
$ |
- |
|
|
$ |
245,847 |
|
| Cost of services |
|
|
- |
|
|
|
86,465 |
|
|
|
- |
|
|
|
114,503 |
|
| Gross margin |
|
|
- |
|
|
|
132,143 |
|
|
|
- |
|
|
|
131,344 |
|
| Selling, general and administrative |
|
|
- |
|
|
|
527,232 |
|
|
|
502,063 |
|
|
|
1,320,627 |
|
| Research and Development |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Loss from discontinued operations |
|
|
- |
|
|
|
(395,089 |
) |
|
|
(502,063 |
) |
|
|
(1,189,283 |
) |
| Gain on sale of accounts payable |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
45,000 |
|
| Gain on sale of assets |
|
|
- |
|
|
|
- |
|
|
|
65,048 |
|
|
|
- |
|
| Gain (loss) from discontinued operations, before income tax |
|
|
- |
|
|
|
(395,089 |
) |
|
|
(437,015 |
) |
|
|
(1,144,283 |
) |
| Income tax expense |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Net loss from discontinued operations, net of tax |
|
$ |
- |
|
|
$ |
(395,089 |
) |
|
$ |
(437,015 |
) |
|
$ |
(1,144,283 |
) |
Weighted-average common shares outstanding, basic and diluted |
|
|
25,160,994 |
|
|
|
26,548,688 |
|
|
|
25,784,010 |
|
|
|
24,415,888 |
|
Basic and diluted loss per share from discontinued operations |
|
$ |
(0.00 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.02 |
) |
|
$ |
(0.05 |
) |
|
| Schedule of Gain on the Sale of Assets |
The following table presents the gain on the sale
of assets in Los Angeles, CA:
| |
|
As of
September 30,
2023 |
|
| Cash proceeds |
|
$ |
55,000 |
|
| Proceeds to receive in installments |
|
|
95,000 |
|
| Total |
|
$ |
150,000 |
|
| Less transaction costs |
|
|
(11,250 |
) |
| Less book value of assets |
|
|
(73,702 |
) |
| Gain on sale, before income tax |
|
$ |
65,048 |
|
| Income tax expense |
|
|
- |
|
| Gain on sale, net of tax |
|
$ |
65,048 |
|
|
| Schedule of Condensed Consolidated Statement of Cash Flows |
The following table presents non-cash items related
to discontinued operations, which are included in the Company’s unaudited condensed consolidated statement of cash flows:
| |
|
Nine months
ended
September 30,
2023 |
|
| Cash Flows From Operating Activities: |
|
|
|
| Gain on sale of assets |
|
$ |
(65,048 |
) |
| Supplemental disclosure of cash flow information: |
|
|
|
|
| Amount due from sale of assets |
|
$ |
95,000 |
|
|