Discontinued Operations

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

NOTE 14 – DISCONTINUED OPERATIONS

At October 21, 2016, we exited the beverage licensing and distribution business. The assets and liabilities associated with this business are displayed as assets and liabilities from discontinued operations as of December 31, 2018 and 2017 as a result. Additionally, the revenues and costs associated with this business are displayed as losses from discontinued operations for the years ended December 31, 2018 and 2017.

Total assets and liabilities included in discontinued operations were as follows:

	December 31,
	2018		2017
Assets From Discontinued Operations:
Cash	$	122		62
Total assets from discontinued operations	$	122	$	62
Liabilities From Discontinued Operations:
Checks written in excess of bank balance	$	-	$	-
Accounts payable		19,869,559		19,641,248
Accrued liabilities		704,917		732,548
Accrued interest		868,874		715,409
Accrued payroll and compensation expense		117,901		311,806
Current maturities of long-term debt		239,085		239,085
Related party payable		1,776,250		1,776,250
Short-term advances payable		2,579,773		2,579,773
Total liabilities from discontinued operations	$	26,156,359	$	25,996,119

Net losses from discontinued operations for the years ended December 31, 2018 and 2017 were comprised of the following components:

	Year Ended December 31,
	2018			2017
Net sales	$	-		$	-
Cost of sales		-			-
Gross profit		-			-
Operating expenses
Selling, general and administrative expenses		11,590			164,335
Total operating expenses		11,590			164,335
Other income (expense)
Interest expense		153,465			162,464
Settlements		-			(67,645	)
Total other income (expense)		153,465			94,819
Net loss from discontinued operations	$	(165,055	)	$	(259,154	)