NOTE 8: ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2018

Note 8 Assets Held For Sale

ASSETS HELD FOR SALE

NOTE 8: ASSETS HELD FOR SALE

At December 31, 2018, the Company has listed the facility and land in Portland, Oregon for sale. Prior to their classification as assets held for sale, the land and facility in Portland were reported under property and equipment (note 6). The assets held for sale are included at the lower of their carrying value and their fair market value. The fair market value was based on a sales agreement dated January 17, 2019 whereby the Company will receive net proceeds of $127,972 after selling costs (note 23). An impairment loss of $57,072 has been recognized to reduce the asset’s carrying value to its fair market value.

	Facility Portland			Land Portland			Total
Cost
Balance, December 31, 2015	$	–		$	–		$	–
Transfer from property and equipment		70,297			119,703			190,000
Balance, December 31, 2016		70,297			119,703			190,000
Expenditures		–			–			–
Balance, December 31, 2017		70,297			119,703			190,000
Impairment loss		(20,151	)		(36,921	)		(57,072	)
Balance, December 31, 2018	$	50,146		$	82,782		$	132,928

	Facility Portland			Land Portland		Total
Accumulated amortization
Balance, December 31, 2015	$	(2,343	)	$	–	$	(2,343	)
Amortization		(2,613	)		–		(2,613	)
Balance, December 31, 2016		(4,956	)		–		(4,956	)
Amortization		–			–		–
Balance, December 31, 2017 and 2018		(4,956	)		–		(4,956	)

	Faculty Portland		Land Portland		Total
Carrying amount
Balance, December 31, 2016	$	65,341	$	119,703	$	185,044
Balance, December 31, 2017		65,341		119,703		185,044
Balance, December 31, 2018	$	45,190	$	82,782	$	127,972