Discontinued Operations and Assets Held for Sale (Tables)

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Assets Held for Sale [Abstract]

Schedule of assets and liabilities of card plus sale and consideration received

	Amount
Carrying value of net assets sold:
Cash	$	299,505
Accounts receivable		61,879
Inventory		231,955
Other current assets		1,490
Total current assets		594,829
Property and equipment		21,127
Total assets		615,956
Accounts payable		76,094
Accrued expenses		43,728
Deferred revenue		11,159
Total current liabilities		130,981
Net assets sold	$	484,975
Sale Consideration on disposition of net assets:
Proceeds	$	300,000
Legal fee		(5,511	)
Write off net payable with CP		2,239
Net Consideration		296,728
Net loss on sale of a discontinued operation	$	(188,247	)

Schedule of operations of cards plus and multipay

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Discontinued Operations Total Revenues, net	$	446,643		$	359,000		$	1,468,199		$	1,230,949
Operating Expenses:
Cost of sales		145,205			121,184			665,269			492,412
General and administrative		276,866			472,336			1,003,003			1,107,961
Impairment loss		-			-			143,698			-
Depreciation and amortization		(6,749	)		30,286			33,025			75,270
Total operating expenses		415,322			623,806			1,844,995			1,675,643
Income (Loss) from operations		31,321			(264,806	)		(376,796	)		(444,694	)
Other Income (Expense):
Other income		12,792			1,851			20,821			15,113
Interest expense, net		-			(1,144	)		(364	)		(3,781	)
Other income, net		12,792			707			20,457			11,332
Income (Loss) before income taxes		44,113			(264,099	)		(356,339	)		(433,362	)
Income tax expense		(468	)		(1,119	)		(7,046	)		(3,714	)
Income (Loss) from discontinued operations		43,645			(265,218	)		(363,385	)		(437,076	)
Loss from sale of discontinued operations		(188,247	)		-			(188,247	)		-
Total loss from discontinued operations	$	(144,602	)	$	(265,218	)	$	(551,632	)	$	(437,076	)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Cards Plus
Total Revenues, net	$	380,372		$	276,335		$	1,263,672		$	955,770
Operating Expenses:
Cost of sales		145,205			121,184			665,269			492,412
General and administrative		21,539			156,341			412,243			443,318
Impairment loss		-			-			143,698			-
Depreciation and amortization		(1,482	)		23,160			24,415			58,393
Total operating expenses		165,262			300,685			1,245,625			994,123
Income (loss) from operations		215,110			(24,350	)		18,047			(38,353	)
Other Income (Expense):
Other income		2,103			1,848			8,919			5,299
Interest expense, net		-			(1,144	)		(364	)		(3,781	)
Other income, net		2,103			704			8,555			1,518
Income (Loss) before income taxes		217,213			(23,646	)		26,602			(36,835	)
Income tax expense		-			-			(4,681	)		-
Income (Loss) from discontinued operations		217,213			(23,646	)		21,921			(36,835	)
Loss from sale of discontinued operations		(188,247	)		-			(188,247	)		-
Total income (loss) from discontinued operations	$	28,966		$	(23,646	)	$	(166,326	)	$	(36,835	)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
MultiPay
Total Revenues, net	$	66,271		$	82,665		$	204,527		$	275,179
Operating Expenses:
General and administrative		255,327			315,995			590,760			664,643
Depreciation and amortization		(5,267	)		7,126			8,610			16,877
Total operating expenses		250,060			323,121			599,370			681,520
Loss from operations		(183,789	)		(240,456	)		(394,843	)		(406,341	)
Other Income:
Other income		10,689			3			11,902			9,814
Other income		10,689			3			11,902			9,814
Loss before income taxes		(173,100	)		(240,453	)		(382,941	)		(396,527	)
Income tax expense		(468	)		(1,119	)		(2,365	)		(3,714	)
Loss from discontinued operations	$	(173,568	)	$	(241,572	)	$	(385,306	)	$	(400,241	)

Schedule of operations assets and liabilities have been reclassified

	September 30, 2022		December 31, 2021
	(unaudited)
Discontinued Operations Current Assets:
Cash	$	11,342	$	270,707
Accounts receivable, net		70,070		110,977
Inventory		-		153,149
Other current assets		-		94,919
Current assets held for sale		81,412		629,752
Noncurrent Assets:
Property and equipment, net		28,857		93,132
Intangible assets		-		153,004
Other assets		-		66,695
Noncurrent assets held for sale		28,857		312,831
Total assets held for sale	$	110,269	$	942,583
Current Liabilities:
Accounts payable and accrued expenses	$	100,368	$	235,348
Deferred revenue		-		47,823
Notes payable obligation, current portion		-		1,579
Capital lease obligation, current portion		-		10,582
Total liabilities held for sale	$	100,368	$	295,332

	September 30, 2022		December 31, 2021
	(unaudited)
Cards Plus Current Assets:
Cash	$	-	$	182,518
Accounts receivable, net		-		88,235
Inventory		-		153,149
Other current assets		-		52,678
Current assets held for sale		-		476,580
Noncurrent Assets:
Property and equipment, net		-		24,619
Intangible assets		-		153,004
Noncurrent assets held for sale		-		177,623
Total assets held for sale	$	-	$	654,203
Current Liabilities:
Accounts payable and accrued expenses	$	-	$	122,725
Deferred revenue		-		47,823
Notes payable obligation, current portion		-		1,579
Capital lease obligation, current portion		-		10,582
Total liabilities held for sale	$	-	$	182,709

	September 30, 2022		December 31 2021
	(unaudited)
MultiPay Current Assets:
Cash	$	11,342	$	88,189
Accounts receivable, net		70,070		22,742
Other current assets		-		42,241
Current assets held for sale		81,412		153,172
Noncurrent Assets:
Property and equipment, net		28,857		68,513
Other assets		-		66,695
Noncurrent assets held for sale		28,857		135,208
Total assets held for sale	$	110,269	$	288,380
Current Liabilities:
Accounts payable and accrued expenses		100,368		112,623
Total liabilities held for sale	$	100,368	$	112,623

Schedule of cash flow from operating activities related to discontinued operations

	Nine Months Ended September 30,
	2022			2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(363,385	)	$	(437,076	)
Adjustments to reconcile net loss with cash flows from operations:
Depreciation and amortization expense		42,364			83,122
Impairment of intangible assets		143,701			-
Changes in operating assets and liabilities:
Accounts receivable		(14,288	)		427,034
Net investment in direct financing lease		-			(7,257	)
Other current assets		186,370			81,418
Inventory		(78,806	)		47,480
Accounts payable and accrued expenses		(16,092	)		(228,912	)
Deferred revenue		(36,663	)		(47,494	)
Adjustments relating to discontinued operations		226,586			355,391
Net Cash flows from discontinued operations	$	(136,799	)	$	(81,685	)