DISCONTINUED OPERATIONS

9 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 3 – DISCONTINUED OPERATIONS

Discontinued operations comprise those activities disposed of during the period or classified as held for sale at the end of the period. It represents a separate, major line of business clearly distinguished for operational and financial reporting purposes. Due to the efforts of the Company to sell One More Gym Tuscaloosa, LLC and One More Gym Birmingham, LLC the assets and liabilities were written down to fair value and an impairment loss was recognized.

The revenues and expenses associated with discontinued operations included in the Company’s consolidated income statement for the three and nine months ended December 31, 2022 and 2021 were as follows:

	For the three months ended						For the nine months ended
	December 31,			December 31,			December 31,			December 31,
	2022			2021			2022			2021
Revenue from discontinued operations
Gym revenue		63,688			348,850			501,214			1,058,863
Operating expenses from discontinued operations
Sales and marketing		–			5,170			5,102			14,178
Utilities		9,514			42,268			60,737			126,611
Leasing expense		8,069			138,859			132,492			417,296
Payroll expense		30,229			174,179			226,392			456,461
General and administrative		322,351			124,560			417,357			401,904
Loss on impairment of assets		300,475			–			300,475			–
Total general and administrative corporate expenses from discontinued operations		670,638			485,036			1,142,555			1,416,450
Loss from discontinued operations		(606,950	)		(136,186	)		(641,341	)		(357,587	)
Other income (expense):
Gain on forgiveness of loan		–			–			–			7,704
Gain (loss) on sale of assets		–			100			(6,958	)		1,240
Interest expense		–			(929	)		–			(3,283	)
Total other expense		–			(829	)		(6,958	)		5,661
Net loss on discontinued operations	$	(606,950	)	$	(137,015	)	$	(648,299	)	$	(351,926	)
Basic and diluted earnings per share on net loss from discontinued operations	$	(0.000	)	$	(0.000	)	$	(0.000	)	$	(0.001	)
Weighted average shares outstanding		3,207,338,338			1,452,481,989			2,446,125,019			1,341,287,504