Note 4 - Spin-Out and Discontinued Operations

3 Months Ended

Mar. 31, 2016

Note 4 - Spin-Out and Discontinued Operations

Note 4 - Spin-Out and Discontinued Operations

Note 4 – Spin-Out and Discontinued Operations

On December 31, 2015, the Company completed the restructuring and spin-out of software educational business, resulting in True Nature Holding, Inc. becoming purely focused on acquiring a series of businesses which specialize in compounding pharmacy activities, largely direct to consumers, doctors and veterinary professionals. The results of the operations associated with the spin-out company and Trunity Holdings, Inc., qualifies as discontinued operations as of and for the three month period ended March 31, 2015.

The results of operations associated with discontinued operations were as follows:

	March 31,
	2015
Net Sales	$	118,679
Cost of sales		62,128
Gross Profit		56,551
Operating Expenses:
Research and development		194,699
Selling, general and administrative		252,266
Total operating expenses		446,965
Operating Loss from Discontinued Operations		(390,414	)
Other Expense:
Interest expense, net		(232,056	)
Net Loss from Discontinued Operations	$	(622,470	)
Other Comprehensive Loss Net of Tax:
Foreign currency translation adjustments		(1,275	)
Comprehensive Loss from Discontinued Operations	$	(623,745	)

Our educational business was fully disposed of in December 2015.  As a result, there were no assets or liabilities of discontinued operations as of 12/31/2015 or 3/31/2016.