Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Schedulr of discontinued operations

The assets and liabilities of discontinued operations as of December 31, 2016 is as follows:

	December 31,
	2016
Current assets
Accounts receivable, net	$	123,358
Prepaid expenses and other current assets		11,253
Total current assets		134,611
Non-current assets
Plant and equipment, net		129,127
Deposits		—
Total assets		263,738
Current liabilities
Deferred revenues		80,519
Discontinued operation		183,219

 The statement of operations for discontinued operations is as follows:

	Three months			Three months			Six months			Six months
	ended June 30,			ended June 30,			ended June 30,			ended June 30,
	2017			2016			2017			2016
Revenues	$	(112	)	$	1,024,384		$	232,040		$	1,847,222
Operating expenses
Depreciation and amortization		—			15,412			4,196			30,746
General and administrative		31,330			187,589			118,706			343,480
Professional fees		33,466			—			32,818			6,144
Rent		2,975			105,721			47,493			180,112
Salaries and wages		(31,913	)		423,464			201,723			811,981
Total operating expenses		35,858			732,186			404,936			1,372,463
Operating (loss) income		(35,970	)		292,198			(172,896	)		474,759
Other Income
Profit on sale of business		—			—			7,494,828			—
Other income		—			21,042			—			21,042
Interest expense		(204	)		(38,547	)		(993	)		(76,743	)
Foreign exchange movements		(105,003	)		(8,433	)		91,704			24,721
Net income before taxation		(141,177	)		266,260			7,412,643			443,779
Taxation		—			—			—			—
Net income from discontinued operations	$	141,177		$	266,260		$	7,412,643		$	443,779