Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
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Revenues: | ||||
Rental income - related party | $ 146,569 | $ 215,950 | ||
Total Revenues | 146,569 | 215,950 | ||
Operating expenses: | ||||
Advertising and marketing | 638 | $ 37,832 | 38,179 | $ 98,878 |
Professional fees | 89,778 | 273,621 | 320,166 | 572,864 |
General and administrative expenses | 347,759 | 199,058 | 1,197,723 | 716,261 |
Recovery of loss provision for doubtful accounts | (1,761,675) | |||
Total operating expenses | 438,175 | 510,511 | (205,607) | 1,388,003 |
(Loss) income from operations | (291,606) | (510,511) | 421,557 | (1,388,003) |
Other income (expense): | ||||
Interest income | 5,844 | 7,150 | 326,157 | 22,239 |
Interest expense | (190,666) | (19,449) | (556,721) | (182,573) |
Other income (expense) | (3,030) | |||
Interest expense - related party | (13,051) | (33,435) | (82,571) | (100,306) |
Total other income (expense) | (197,873) | (45,734) | (313,135) | (263,670) |
Net (loss) income | $ (489,479) | $ (556,245) | $ 108,422 | $ (1,651,673) |
Basic and diluted (loss) income per common share (in dollars per share) | $ (0.02) | $ (0.02) | $ 0 | $ (0.07) |
Weighted average common shares outstanding (in shares) | 23,504,820 | 23,005,753 | 23,504,820 | 22,858,359 |
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as other. No definition available.
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- Definition Amount of interest expense incurred on a debt or other obligation to related party. No definition available.
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense (reversal of expense) for expected credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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