Note 5 - Spin-Out and Discontinued Operations

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Note 5 - Spin-Out and Discontinued Operations

Note 5 – Spin-Out and Discontinued Operations

On December 31, 2015, the Company completed the restructuring and spin-out of its software educational business, resulting in True Nature Holding, Inc. becoming purely focused on acquiring a series of compounding pharmacy businesses, 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 and six month periods ended June 30, 2015.

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

		Three Months Ended			Six Months Ended
		June 30, 2015			June 30, 2015
Net Sales	$	66,458		$	185,137
Cost of sales		27,894			90,023
Gross Profit		38,564			95,114
Operating Expenses:
Research and development		186,950			381,649
Selling, general and administrative		232,596			484,862
Total operating expenses		419,546			866,511
Operating Loss from Discontinued Operations		(380,982	)		(771,397	)
Other Expense:
Interest expense, net		(318,747	)		(550,802	)
Net Loss from Discontinued Operations	$	(699,729	)		(1,322,199	)
Other Comprehensive Loss Net of Tax:
Foreign currency translation adjustments		14,082			12,807
Comprehensive Loss from Discontinued Operations	$	(685,647	)	$	(1,309,392	)

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