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 March 31, 2021 and December 31, 2020, respectively:
|
|
March 31, 2021 |
|
|
December 31, 2020 |
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
$ |
413,962 |
|
|
$ |
220,964 |
|
Inventory |
|
|
779,918 |
|
|
|
559,737 |
|
Prepaid expenses and other current assets |
|
|
160,666 |
|
|
|
261,980 |
|
Total current assets |
|
|
1,354,546 |
|
|
|
1,042,680 |
|
Total assets |
|
$ |
1,354,546 |
|
|
$ |
1,042,680 |
|
|
|
|
|
|
|
|
|
|
Liabilities and stockholders’ equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
589,363 |
|
|
$ |
487,454 |
|
Total current liabilities |
|
$ |
589,363 |
|
|
$ |
487,454 |
|
The following table presents
the summary results of operations of our discontinued operations for the three months ended March 31, 2021 and 2020, respectively:
|
|
For the Three Months
Ended March 31,
|
|
|
|
2021 |
|
|
2020 |
|
Revenues, net |
|
$ |
697,883 |
|
|
$ |
1,713,764 |
|
Cost of revenues |
|
|
490,195 |
|
|
|
1,054,693 |
|
Gross profit |
|
|
207,688 |
|
|
|
659,071 |
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
|
286,602 |
|
|
|
903,764 |
|
Operating income |
|
|
78,914 |
|
|
|
(244,693 |
) |
|
|
|
|
|
|
|
|
|
Other (expense) income: |
|
|
|
|
|
|
|
|
Gain on divestiture |
|
|
- |
|
|
|
4,911,760 |
|
Total other (expense) income |
|
|
- |
|
|
|
4,911,760 |
|
(Loss) income before income taxes |
|
|
78,914 |
|
|
|
4,667,067 |
|
Income tax expense |
|
|
- |
|
|
|
- |
|
Net (loss) income |
|
$ |
78,914 |
|
|
$ |
4,667,067 |
|
|