DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

4 DISCONTINUED OPERATIONS

Effective December 31, 2019, the Company sold 100% of the outstanding common stock of its subsidiary, Qpagos Corp to Vivi. The operations of Qpagos Corp and its two Mexican entities; QPagos S.A.P.I. de C.V. and Redpag Electrónicos S.A.P.I. de C.V, which represent substantially all of its assets, are reported as discontinued operations.

The statement of operations from discontinued operations is as follows:

		Three months ended June 30,		Six months ended June 30,
		2019		2019
Net Revenue	$	2,833,417		$	4,069,619
Cost of Goods Sold		2,756,802			3,980,986
Gross profit		76,615			88,633
General and administrative		297,451			553,662
Depreciation and amortization and impairment costs		11,306			22,609
Total Expense		308,757			576,271
Loss from Operations		(232,142	)		(487,638	)
Other income (expense)		(3,158	)		1,873
Foreign currency loss		(776	)		(5,998	)
Loss before taxation		(236,076	)		(491,763	)
Taxation		-			-
Loss from discontinued operations, net of taxation		(236,076	)	$	(491,763	)