Assets Held for Sale

12 Months Ended

Jun. 30, 2022

Assets Held for Sale

Assets Held for Sale

Note 17. Assets Held for Sale

 On August 31, 2023, the Company sold Interactive offers to Amplifyir Inc.  The purchase price is $1,250,000 with a provision to adjust the final purchase price based on the business being transferred to Amplifyer Inc. with a net zero working capital.  In addition, the Buyer is obligated to pay the Company two-and one-half percent (2.5%) of certain advertising revenues of Interactive for a two-year period post-closing.  Accordingly, the results of the business were classified as discontinued operations in our statements of operations and excluded from both continuing operations and segment results for all periods presented.

Summary of discontinued operations:

	Year ended June 30,
	2023			2022
Discontinued Operations
Revenue	$	1,442,279		$	2,192,183
Cost of sales	$	446,332		$	457,361
Sales, general and administrative expenses	$	2,118,480		$	2,442,019
Depreciation and amortization	$	607,103		$	452,963
Income (loss) from discontinued operations	$	(1,729,636	)	$	(1,160,160	)
Accounts receivable net of allowance for doubtful accounts	$	67,467		$	197,762
Fixed assets, net of accumulated depreciation	$	2,835		$	4,917
Total assets	$	1,026,043		$	2,460,411
Total liabilities	$	-		$	816,321