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DISCONTINUED OPERATIONS
9 Months Ended
Jun. 30, 2021
DISCONTINUED OPERATIONS  
Note - 14 DISCONTINUED OPERATIONS

NOTE 14 DISCONTINUED OPERATIONS

 

Effective September 30, 2019, the Company ceased operations of four business subsidiaries: EE1, IM1, BPU and Level H&W. These subsidiaries accounted for our licensing, entertainment, and products segments prior to fiscal 2019 and the Company determined that these business units are not able to provide support or value to the CBD business, which the Company is now strategically focused on. Therefore, the Company classified the operating results of these subsidiaries as discontinued operations, net of tax in the Consolidated Statements of Operations.

 

At September 30, 2020 the balance in accounts receivable related to discontinued operations was $447,134, which reflects payments made and an impairment of $45,783. At June 30, 2021 the balance in accounts receivable related to discontinued operations totaled $18,467.