Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.20.2
Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2020
Discontinued Operations  
Schedule of Discontinued Operations and Assets Held for Sale

The following is a reconciliation of the major classes of line items constituting loss on discontinued operations to loss on discontinued operations shown in the Statement of Operations:

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30, 2019

 

 

(unaudited)

Revenue

    

$

 —

    

$

115,000

Cost of revenue

 

 

1,337

 

 

141,647

Research and development

 

 

12,613

 

 

197,663

General and administrative

 

 

40,332

 

 

79,306

Sales and marketing

 

 

24,514

 

 

59,431

Impairment (1)

 

 

 —

 

 

405,000

Loss from discontinued operations

 

$

(78,796)

 

$

(768,047)

(1)

Impairment charge was calculated as the net book value of assets held for sale prior to the impairment less the expected net proceeds from the planned sale. The expected net proceeds were based on the estimated fair value of the net assets held for sale less the estimated cost to sell the net assets held for sale. For the three and nine months ended September 30, 2019, the Company recorded a loss on the sale of discontinued operations of $9,107.