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DISCONTINUED OPERATIONS (Tables)
12 Months Ended
Dec. 31, 2019
DISCONTINUED OPERATIONS  
Schedule of loss from operations of discontinued subsidiary

Sales

 

$ -

 

 

 

 

 

 

Cost of sales

 

 

239,810

 

 

 

 

 

 

Gross profit

 

 

(239,810 )

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Officer’s compensation

 

 

168,232

 

 

 

 

 

 

Occupancy costs

 

 

30,373

 

 

 

 

 

 

Other

 

 

48,592

 

 

 

 

 

 

Total operating expenses

 

 

247,197

 

 

 

 

 

 

Net loss

 

$ (487,007 )
Schedule of loss on sale of discontinued subsidiary

Consideration received from sale effective December 31, 2019:

 

 

 

 

 

 

 

Can B Corp. common stock

 

$ 487,500

 

 

 

 

 

 

Receivable from Can B for “Additional Purchase Shares” due June 30, 2020

 

 

512,500

 

 

 

 

 

 

Forgiveness of note payable to NY Farms Group Inc.

 

 

200,000

 

 

 

 

 

 

Total consideration

 

 

1,200,000

 

 

 

 

 

 

Company investment in 51% of Green Grow at December 31, 2019:

 

 

 

 

 

 

 

 

 

Initial investment on May 9, 2019

 

 

1,450,000

 

 

 

 

 

 

Loans receivable from Green Grow (forgiven)

 

 

797,213

 

 

 

 

 

 

51% of net loss of Green Grow for the year ended December 31, 2019

 

 

(248,374 )

 

 

 

 

 

Total investment

 

 

1,998,839

 

 

 

 

 

 

Loss on sale of discontinued subsidiary

 

$ (798,839 )