Discontinued Operations Sale of Interactive Offers

9 Months Ended

Mar. 31, 2024

Discontinued Operations Sale of Interactive Offers

Discontinued Operations - Sale of Interactive Offers

Note 16. Discontinued Operations – Sale of Interactive Offers

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:

	Three months ended March  31,
	2024		2023
Discontinued Operations
Revenue	$	-	$	604,625
Cost of sales	$	-	$	230,967
Sales, general and administrative expenses	$	-	$	971,657
Depreciation and amortization	$	-	$	1,798
Loss from discontinued operations	$	-	$	(928,215	)
Accounts receivable net of allowance for doubtful accounts	$	-	$	56,961
Fixed assets, net of accumulated depreciation	$	-	$	5,195
Total assets	$	-	$	405,721
Total liabilities	$	-	$	562,953

	Nine months ended March 31,
	2024			2023
Discontinued Operations
Revenue	$	158,147		$	1,054,935
Cost of sales	$	11,982		$	254,028
Sales, general and administrative expenses	$	339,205		$	1,646,949
Depreciation and amortization	$	-		$	455,357
Loss from discontinued operations	$	(193,040	)	$	(1,305,261	)
Accounts receivable net of allowance for doubtful accounts	$	-		$	45,314
Fixed assets, net of accumulated depreciation	$	-		$	3,593
Total assets	$	-		$	4,843,723
Total liabilities	$	-		$	415,660