NOTE 4. DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

NOTE 4. DISCONTINUED OPERATIONS

NOTE 4 – DISCONTINUED OPERATIONS

PathUX, LLC

On April 24, 2020 the Company entered into a Settlement and Release Agreement whereby, effective as of April 1, 2020, the purchase agreement between the former shareholders of PathUX and IDriveYourCar dated May 31, 2019 was effectively unwound, with all assets and liabilities returned to such former shareholders.

Furthermore, the 31,500,000 shares of Beyond Commerce’s restricted common stock issued to Robert Bisson on June 4, 2019, the 31,500,000 shares of Beyond Commerce’s restricted common stock issued Christian Schine on June 4, 2019, and the 7,000,000 shares of Beyond Commerce’s restricted common stock issued to Ryan Rich on June 4, 2019, were released from any further claims. As Beyond Commerce had not paid any additional funds from the previous owners of PathUX and the extension period had expired, the Company has forfeited the 70,000,000 shares valued at $427,000 which were reflected in the December 31, 2019 financial statements.

Income (loss) from discontinued operations, net of tax and the loss on sale of discontinued operations, net of tax, of the PathUX business which is presented in total as discontinued operations, net of tax in the Company’s Consolidated Statements of Operations for the years ended December 31 2020 and 2019 are as follows:

	Year ended December 31,
		2020		2019
Total net sales		$	219,867	$	944,762
Cost of sales			147,829		617,627
Operating, selling, general and administrative expenses			91,133		230,243
Amortization of software			134,686		269,372
Income (loss) from discontinued operations			(153,781)		(172,480)
Gain on sale of discontinued operations			504,481		-
Income tax provision			-		-
Discontinued operations, net of tax			350,700		(172,480)

The following table presents the amounts reported in the Consolidated Condensed Balance Sheets as held for sale related to the PathUX Assets as of December 31, 2019. As the sale was finalized shortly after close of the first quarter 2020, the current balance sheet no longer reflects these operations.

	December 31,
	2019
Current assets
Cash & cash equivalents	$	95,470
Accounts  receivable - net		18,000
Total current assets		113,470
Proprietary Software, net		972,289
Intangible asset		1,722,796
Assets held for sale	$	2,808,555
Current liabilities	$	159,255
Contingent acquisition liability - short term		1,951,205
Contingent acquisition liability - long term		1,048,795
Liabilities of assets held for sale	$	3,159,255