Discontinued Operations and Assets Held for Sale (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Assets Held for Sale [Abstract]

Schedule of Assets and Liabilities of the MultiPay Sale and Consideration Received

The following table summarizes the assets and liabilities of the MultiPay sale and the consideration received:

	Amount
Carrying value of net assets sold:
Property and equipment write-off	$	19,528
Net assets write-off		19,528
Sale consideration on disposition of net assets:
Sale consideration		95,852
Less: Value added tax		(15,304	)
Net Consideration		80,548
Foreign currency translation:		155,049
Net gain on sale of a discontinued operation	$	216,069

Schedule of Operations of Cards Plus and MultiPay

The operations of Cards Plus and MultiPay for the years ended December 31, 2023 and 2022 on a consolidated basis are below:

	For the Year Ended December 31,
Discontinued Operations	2023			2022
Discontinued Operations Total Revenues, net	$	29,354		$	1,503,333
Operating Expenses:
Cost of sales		-			665,269
General and administrative		12,267			1,021,649
Impairment loss		-			143,698
Depreciation and amortization		8,067			41,850
Total operating expenses		20,334			1,872,466
Income (Loss) from operations		9,020			(369,133	)
Other Income (Expense):
Other income		-			10,161
Interest expense,  net		-			(364	)
Other income, net		-			9,797
Income (Loss) before income taxes		9,020			(359,336	)
Income tax expense		(7,496	)		(7,327	)
Income (Loss) from discontinued operations		1,524			(366,663	)
Gain (Loss) from sale of discontinued operations		216,069			(188,247	)
Total Income (Loss) from discontinued operations	$	217,593		$	(554,910	)

	For the Year Ended December 31,
	2023		2022
Cards Plus
Total Revenues, net	$	-	$	1,263,672
Operating Expenses:
Cost of sales		-		665,269
General and administrative		-		412,243
Impairment loss		-		143,698
Depreciation and amortization		-		24,451
Total operating expenses		-		1,245,661
Income from operations		-		18,011
Other Income (Expense):
Other income (expense), net		-		8,919
Interest expense,  net		-		(364	)
Other income, net		-		8,555
Income before income taxes		-		26,566
Income tax expense		-		(4,681	)
Income from discontinued operations		-		21,885
Loss from sale of discontinued operations		-		(188,247	)
Total loss from discontinued operations	$	-	$	(166,362	)

	For the Year Ended December 31,
	2023			2022
MultiPay
Total Revenues, net	$	29,354		$	239,661
Operating Expenses:
General and administrative		12,267			609,406
Depreciation and amortization		8,067			17,399
Total operating expenses		20,334			626,805
Income (Loss) from operations		9,020			(387,144	)
Other Income:
Other income, net		-			1,242
Other income		-			1,242
Income (Loss) before income taxes		9,020			(385,902	)
Income tax expense		(7,496	)		(2,646	)
Income (Loss) from discontinued operations		1,524			(388,548	)
Gain from sale of discontinued operations		216,069			-
Total Income (Loss) from discontinued operations	$	217,593		$	(388,548	)

Schedule of Discontinued Operations Assets Held for Sale Criteria for Cards Plus and the MultiPay Operations

As a result of meeting the discontinued operations/assets held for sale criteria for Cards Plus and the MultiPay operations, the assets and liabilities have been reclassified as assets held for sale as of the respective balance sheet date as follows:

	December 31, 2023		December 31, 2022
Discontinued Operations Current Assets:
Cash	$	-	$	2,703
Accounts receivable, net		-		105,194
Other current assets		-		10,562
Current assets held for sale		-		118,459
Noncurrent Assets:
Property and equipment, net		-		27,595
Noncurrent assets held for sale		-		27,595
Total assets held for sale	$	-	$	146,054
Current Liabilities:
Accounts payable and accrued expenses	$	-	$	13,759
Total liabilities held for sale	$	-	$	13,759

Schedule of Cash Flow Activity Related to Discontinued Operations

As a result of meeting the discontinued operations/assets held for sale criteria for Cards Plus and the MultiPay operations, the cash flow activity related to discontinued operations is presented separately on the statement of cash flows as summarized below:

	Year Ended December 31,
	2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)	$	1,524		$	(366,663	)
Adjustments to reconcile net loss with cash flows from operations:
Depreciation and amortization expense		8,067			41,850
Impairment of intangible assets		-			143,698
Changes in operating assets and liabilities:
Accounts receivable		105,194			(50,598	)
Other current assets		10,562			170,536
Inventory		-			(78,806	)
Accounts payable and accrued expenses		(13,759	)		(102,486	)
Deferred revenue		-			(36,664	)
Adjustments relating to discontinued operations		110,064			87,530
Net cash flows from discontinued operations	$	111,588		$	(279,133	)