Discontinued Operations

9 Months Ended

Sep. 30, 2022

Discontinued Operations

Discontinued operations

Note 4 – Discontinued Operations

(a) Crypto mining

On April 1, 2022, the Company implemented a plan to divest its crypto mining operations to focus its resources on the MFB acquisition (see Note 3). The Company recognized a loss of $2,030 from the disposition of its crypto mining operations, which consisted of the relinquishment of the digital currency assets in exchange for settlement of the related party note payable associated with the acquisition of the equipment.

The following is a summary of the assets and liabilities of the Company’s crypto mining operations as of April 1, 2022 and December 31, 2021:

	April 1,		December 31,
	2022		2021
Digital currency		26,825		-
Digital currency equipment, net		276,379		-
Total assets from discontinued operations	$	303,204	$	-
Due to related party		301,175		-
Total liabilities from discontinued operations	$	301,175	$	-

The following is a summary of discontinued operations for the period ended April 1,2022 and the nine months ended September 30, 2021:

	2022		2021
Revenue	$	46,976	$	-
Cost of revenue		27,835		-
Gross Profit		19,141		-
Operating expenses:
Impairment loss		6,125		-
Total operating expenses		6,125		-
Income from discontinued operations	$	13,016	$	-

(b) Strategic Assets Holdings, LLC. (“SAH”)

On October 19, 2021, the Board of Directors approved the divesture of SAH. The separation was amicable, and no severance was determined to be owed to Mr. Jason Tucker or SAH. As result of divesture, the Company recognized $20,179 gain from disposition of SAH during the year ended December 31, 2021.

The following is a summary of the assets and liabilities of SAH as of October 19, 2021 and December 31, 2020:

	October 19,		December 31,
	2021		2020
Cash		81		-
Total assets from discontinued operations	$	81	$	-
Loan payable		20,260		-
Total liabilities from discontinued operations	$	20,260	$	-

The following is a summary of discontinued operations for the nine months ended September 30,2022 and 2021:

	2022		2021
Revenues	$	-	$	-
General and administration		-		100
Management compensation		-		16,498
Impairment loss		-		52,976
Total operating expenses		-		69,574
Loss from discontinued operations	$	-	$	(69,574	)