DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 15 – DISCONTINUED OPERATIONS

As a result of the October 14, 2021 Complaint filed against Defendants, the Company determined that Nature would be accounted as a discontinued operation pursuant to ASC 205-20 Discontinued Operations. In determining whether a group of assets that is disposed (or to be disposed) should be presented as a discontinued operation, we analyzed whether the group of assets being disposed represents a component of the Company; that is, whether it had historic operations and cash flows that were clearly distinguished, both operationally and for financial reporting purposes. In addition, we considered whether the disposal represents a strategic shift that has or will have a major effect on our operations and financial results.

The following table reconciles the loss realized from the disposal of discontinued operations: 

	December 31,
	2021
Accounts payable	$	386,129
Due to related party		72,743
Customer advance payments		203,518
Short term notes payable		149,490
Accrued interest		89,120
Gain on disposal of discontinued operation	$	(901,000	)

Discontinued operations for the year ended December 31, 2021 consist of the operations from Nature.

The following tables lists the assets and liabilities of discontinued operations as of March 31, 2022 and December 31, 2021 and the discontinued operations for Nature for the three months ended March 31, 2022 and 2021: 

	March 31,		December 31,
	2022		2021
LIABILITIES
Current liabilities:
Accounts payable	$	–	$	386,129
Due to related party		–		72,743
Loan payable to shareholder		–		–
Customer advance payments		–		203,518
Short term notes payable		–		149,490
Current portion of operating lease liabilities		–		–
Accrued interest		–		89,120
Other current liabilities		–		–
Total current liabilities of discontinued operation		–		901,000
TOTAL LIABILITIES OF DISCONTINUED OPERATION	$	–	$	901,000

	For the Three Months Ended March 31,
	2022		2021
Revenue	$	–	$	1,591,251
Cost of sales		–		747,186
Gross profit		–		844,065
Operating expenses:
Advertising and marketing expenses		–		150,585
General and administrative		–		611,932
Total operating expenses		–		762,517
Profit from operations		–		81,548
Other expense (income):
Impairment of assets		–		–
Interest expense		–		9,965
Other expense		–		–
Other income		–		–
Total other expense		–		9,965
Profit before income taxes		–		71,583
Income taxes		–		–
Net profit of discontinued operations	$	–	$	71,583