Discontinued Operations

12 Months Ended

Dec. 31, 2021

Discontinued Operations

Discontinued Operations

Note 2 – Discontinued Operations

Sale of Business

On April 21, 2020 (effective March 1, 2020) the Company completed the sale of HealthDatix, Inc., a Florida corporation (“HDX FL”) to Jerry Robinson, Mary-Jo Robinson and Kathleen Shepherd  (“HDX Management”) in accordance with a Stock Purchase Agreement (the “Purchase Agreement”) by and between the Company and HDX Management.  Pursuant to the Purchase Agreement, the total consideration paid for the outstanding capital stock of HDX FL was the execution of Settlement and Release Agreements by HDX Management, releasing the Company from all obligations pursuant to certain HDX Management Employment Agreements dated April 1, 2017, and remittance of 1,000 shares of HDX common stock previously issued to HDX Management. As per the Purchase Agreement, the Company’s operations of HDX FL ended February 29, 2020 and HDX Management’s operation of the business is effective as of March 1, 2020.

The components of loss from discontinued operations presented in the consolidated statements of operations for the year ended December 31, 2020 are presented as follows:

Sales	$	5,958
Cost of sales		(6,795	)
General and administrative expenses		(101,100	)
Depreciation and amortization		(75	)
Interest expense		(263	)
Loss from operations		(102,275	)
Loss on disposal of HealthDatix		(16,717	)
Loss from discontinued operations	$	(118,992	)