NOTE 4. DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2021

Notes

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.

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 period ended June 30, 2020 is as follows: 

	2020
Total net sales	$ 219,867
Cost of sales	147,829
Operating, selling, general and administrative expenses	91,133
Amortization of software	134,686
Income (loss) from discontinued operations	(153,781)
Gain on sale of discontinued operations	504,481
Income tax provision	-
Discontinued operations, net of tax	350,700

As the sale was finalized shortly after close of the first quarter 2020, the current balance sheet no longer reflects these operations.