DISCONTINUED OPERATIONS

9 Months Ended

Sep. 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 Corporation to Vivi. The operations of Qpagos Corporation and its two Mexican entities; Qpagos Mexico and Redpag 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 September 30,			Nine months ended September 30,
	2019			2019
Net Revenue	$	3,480,878		$	7,550,475
Cost of Goods Sold		3,767,192			7,748,178
Gross profit		(286,314	)		(197,703	)
General and administrative		278,960			832,623
Depreciation and amortization and impairment costs		11,276			33,885
Total Expense		290,236			866,508
Loss from Operations		(576,550	)		(1,064,211	)
Other income (expense)		(866	)		1,007
Foreign currency loss		(15,436	)		(21,412	)
Loss before taxation		(592,852	)		(1,084,616	)
Taxation		-			-
Loss from discontinued operations, net of taxation		(592,852	)	$	(1,084,616	)