Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Discontinued Operations (Tables)

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:

	Year ended December			Year ended December
	31, 2017			31, 2016
Revenues	$	196,866		$	3,653,399
Operating expenses
Depreciation and amortization		4,196			63,391
General and administrative		116,671			751,553
Professional fees		32,818			(3,889	)
Rent		106,495			385,401
Salaries and wages		201,723			1,592,444
Total operating expenses		461,903			2,788,900
Operating (loss) income		(265,037	)		864,499
Other Income (expense)
Other income		7,494,828			720
Other expense		—			(617	)
Interest expense		(1,021	)		(154,605	)
Foreign exchange movements		(135,190	)		25,990
Net income (loss) before taxation		7,093,580			735,987
Taxation		(271,691	)		—
Net income (loss) from discontinued operations