7. Discontinued Operations

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

7. Discontinued Operations

7.       Discontinued Operations

On February 14, 2017, the Company completed a series of transactions, including an APA whereby the Company sold certain of the Canadian Rehab Clinic assets. The assets disposed of business represented substantially all of the operating assets of the Canadian Rehab Clinic and has been disclosed as a discontinued operation for comparative purposes as of December 31, 2016 and for the three and nine month period ended June 30, 2017 and 2016. Refer note 2 above.

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 ended September 30, 2017	Three months ended September 30, 2016	Nine months ended September 30, 2017	Nine months ended September 30, 2016
Revenues	$                  -	$      1,076,303	$         232,040	$      2,923,524
Operating expenses
Depreciation and amortization	-	16,586	4,196	47,332
General and administrative	353	197,854	119,058	547,477
Professional fees	-	-	32,818	-
Rent	-	104,881	47,493	284,993
Salaries and wages	-	366,986	201,723	1,178,968
Total operating expenses	353	686,307	405,288	2,058,770
Operating (loss) income	(353)	389,996	(173,248)	864,754
Other (Expense) Income
Other income	-	-	-	21,042
Other expense	-	(28,298)	-	(28,298)
Interest expense	(1,904)	(40,031)	(2,898)	(116,774)
Foreign exchange movements	(215,996)	(2,766)	(124,293)	21,956
Net (loss) income before taxation	(218,253)	318,901	(300,439)	762,680
Taxation	-	-	-	-
Net (loss) income from discontinued operations	$       (218,253)	$         318,901	$       (300,439)	$         762,680
Gain on disposal of business	-	-	7,494,828	-
	$       (218,253)	$         318,901	$      7,194,389	$         762,680