DISCONTINUED OPERATIONS

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

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	)

5 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 following assets and liabilities are reported as discontinued operations:

	December 31,
	2018
Current Assets
Accounts receivable	$	60,523
Inventory		330,632
Recoverable IVA taxes and credits		98,493
Other current assets		169,564
Total current assets		659,212
Non-current assets
Plant and equipment, net		228,103
Intangibles, net		82,417
Investment		3,000
Other assets		10,373
Total non-current assets		323,893
Assets held for sale	$	983,105
Current liabilities
Accounts payable	$	40,136
ICA and other taxes payable		18,969
Advances from clients		120,909
Liabilities held for sale	$	180,014

The statement of operations from discontinued operations is as follows:

	Year ended			Year ended
	December 31,			December 31,
	2019			2018
Net Revenue	$	11,480,637		$	7,936,273
Cost of Goods Sold		11,525,223			7,867,557
Gross (loss) profit		(44,586	)		68,716
General and administrative		953,491			1,513,807
Depreciation and amortization and impairment costs		45,360			65,455
Total Expense		998,851			1,579,262
Loss from Operations		(1,043,437	)		(1,510,546	)
Other income		6,648			5,934
Foreign currency gain		383,542			107,440
Loss before taxation		(653,247	)		(1,397,172	)
Taxation		-			-
Loss from discontinued operations, net of taxation	$	(653,247	)	$	(1,397,172	)