Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.21.1
Discontinued Operations (Tables)
 3 Months Ended
Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operation

Reconciliation of revenue and expense items in discontinued operations on the unaudited condensed statement of operations:

 

    Three months ended March 31,  
    2021     2020  
                 
REVENUES   $    -     $ 174,999  
                 
OPERATING EXPENSES     -          
Payroll and related expenses     -       114,391  
General and administrative     -       25,046  
Total Operating Expenses     -       139,437  
Financing costs including interest     -       (13,081 )
INCOME FROM DISCONTINUED OPERATIONS   $ -     $ 22,481  

 

Reconciliation of cash flows from operating activities and financing activities on the unaudited condensed statement of cash flow:

 

    Three months ended March 31,  
    2021     2020  
CASH FLOWS FROM OPERATING ACTIVITIES                
Net Income from Discontinued Operations   $    -     $ 22,481  
                 
Changes in operating assets and liabilities     -          
Increase in accounts payable and accrued expenses     -       7,500  
Increase in accrued interest - related party     -       13,081  
Net cash provided by operating activities     -       43,062  
                 
CASH FLOWS FROM FINANCING ACTIVITIES                
Proceeds from promissory notes - related parties     -       147,673  
Repayments on promissory notes - related parties     -       -  
Net cash provided by financing activities     -       147,673  
                 
Net cash provided by discontinued operations   $ -     $ 190,735