Note 2 - Sale and Deconsolidation of GMI and Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2024

Notes Tables

Disposal Groups, Including Discontinued Operations, Consideration Received [Table Text Block]

Consideration	Amount		Description and Valuation Methodology
Cash at closing	$	935,974	Cash received at closing less estimated value of transition services to be provided.
Cash after closing		133,148	Actual cash operating expenses of GMI from March 1 through March 17, 2023 (prior to the transfer of GMI to GMDC).
GMDC common stock		581,000	Based on Series A preferred stock issuance to other GMDC investors for $3,000,000 in cash and application of an option pricing model backsolve method and a minority interest discount to estimate the fair value of the common shares of GMDC.
Contingent payments		682,000	Estimated by applying a discount rate of 40.8% to the projected cash receipts expected over the 7-year horizon. (See Note 5).
Total consideration	$	2,332,122

Disposal Groups, Including Discontinued Operations [Table Text Block]

	Three Months Ended March 31,
	2024		2023
Revenue	$	-	$	-
Cost of revenue		-		74,223
Excess of contract costs over revenue		-		(74,223	)
Operating expenses -
Salaries and benefits		-		484,249
Intangibles amortization		-		85,338
Stock based compensation, before forfeitures		-		65,487
Forfeiture of stock options		-		(407,322	)
Other operating expenses		-		134,633
Gain on disposal of business		-		(100,615	)
Loss before income tax benefit		-		(335,993	)
Income tax benefit		-		-
Net loss on discontinued operations	$	-	$	(335,993	)