7. Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

7. Discontinued Operations (Tables)

	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