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 Balance Sheets and Income Operations of Discontinued Operations

The following table presents the carrying values of the assets and liabilities of our discontinued operations at June 30, 2021 and December 31, 2020, respectively:

 

    June 30, 2021     December 31, 2020  
             
Assets                
Current assets:                
Accounts receivable, net   $ -     $ 220,964  
Inventory     -       559,737  
Prepaid expenses and other current assets     -       261,980  
Total current assets     -       1,042,680  

Intangible assets, net

    -       5,739,524  
Total assets   $ -     $ 6,782,204  
                 
Liabilities and stockholders’ equity                
Current liabilities:                
Accounts payable   $ 120,729     $ 487,454  
Total current liabilities   $ 120,729     $ 487,454  

 

The following table presents the summary results of operations of our discontinued operations for the three and six months ended June 30, 2021 and 2020, respectively:

 

                                 
   

For the Three Months

Ended June 30,

    For the Six Months
Ended June 30,
 
    2021     2020     2021     2020  
Revenues, net   $

-

    $

1,706,044

      697,883       3,419,808  
Cost of revenues    

-

     

884,848

      490,195       1,939,541  
Gross profit     -      

821,196

      207,688       1,480,267  
                                 
Operating expenses:                                
Selling, general and administrative     99,286      

393,077

      385,888       1,396,127  
Operating income     (99,286 )    

428,119

    178,200       84,140  
                                 
Other (expense) income:                                
(Loss) gain on disposal     (4,308,780 )    

-

      (4,308,780 )     4,911,760  
Total other (expense) income    

(4,308,780

)    

-

     

(4,308,780

)      4,911,760  
(Loss) income before income taxes     (4,408,066 )    

428,119

     

(4,486,980

)      4,995,900
Income tax expense     -       -       -       -  
Net (loss) income   $ (4,408,066 )   $

428,119

      (4,486,980 )     4,995,900