| Schedule of reconciles the gain realized from the disposal of discontinued operations |
The following table reconciles the gain realized from the disposal of discontinued operations:
| |
|
January 1, |
|
| |
|
2019 |
|
| Cash |
|
$ |
100,000 |
|
| Intangble assets, net |
|
|
481,947 |
|
| Goodwill |
|
|
(481,947 |
) |
| Estimated fair value of contingent payments, net |
|
|
137,007 |
|
| Other current liabilities |
|
|
1,308 |
|
| Gain on disposal of discontinued operations |
|
$ |
238,315 |
|
|
| Schedule of Assets of discontinued operations and held for sale and liabilities of discontinued operations and held for sale |
The following tables lists the assets of discontinued operations and held for sale and liabilities of discontinued operations and held for sale as of December 31, 2018 and the discontinued operations for CCI for the three and nine months ended September 30, 2018:
| |
|
December 31, |
|
| |
|
2018 |
|
| ASSETS |
|
|
|
| Current Assets: |
|
|
|
| Accounts Receivable |
|
$ |
2,096 |
|
| Total Current Assets of Discontinued Operations |
|
|
2,096 |
|
| Property, Plant and Equipment, net |
|
|
- |
|
| TOTAL ASSETS OF DISCONTINUED OPERATIONS AND HELD FOR SALE |
|
$ |
2,096 |
|
| |
|
|
|
|
| LIABILITIES |
|
|
|
|
| |
|
|
|
|
| LIABILITIES |
|
|
|
|
| Current Liabilities: |
|
|
|
|
| Accounts Payable |
|
$ |
- |
|
| Estimated fair value of contingent payments, net |
|
|
137,007 |
|
| Deferred revenue |
|
|
21,977 |
|
| Other current liabilities |
|
|
3,994 |
|
| Total Current Liabilities of Discontinued Operations |
|
|
162,978 |
|
| TOTAL LIABILITIES OF DISCONTINUED OPERATIONS AND HELD FOR SALE |
|
$ |
162,978 |
|
| |
|
For the
Nine Months Ended
|
|
|
For the
Three Months Ended
|
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2018 |
|
|
2018 |
|
| |
|
|
|
|
|
|
| Net revenues |
|
$ |
512,282 |
|
|
$ |
90,451 |
|
| Cost of sales |
|
|
156,530 |
|
|
|
12,660 |
|
| Gross profit |
|
|
355,752 |
|
|
|
77,791 |
|
| |
|
|
|
|
|
|
|
|
| Operating expenses |
|
|
|
|
|
|
|
|
| Advertising and marketing expenses |
|
|
293,087 |
|
|
|
38,526 |
|
| Stock based compensation - related party |
|
|
- |
|
|
|
- |
|
| General and administrative |
|
|
372,352 |
|
|
|
66,713 |
|
| Total operating expenses |
|
|
665,439 |
|
|
|
105,239 |
|
| |
|
|
|
|
|
|
|
|
| Net loss of discontinued operations and held for sale |
|
$ |
(309,687 |
) |
|
$ |
(27,448 |
) |
|