Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.20.2
Discontinued Operations (Tables)
6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations

The carrying amount of major classes of assets and liabilities included as part of discontinued operations are as follows:

 

    (Unaudited)        
   

Six Months

June 30, 2020

   

Year Ended

December 31, 2019

 
Other receivable   $ 30,084     $ 149,000  
Total assets     30,084       149,000  
                 
Accounts payable and accrued expenses     179,625       435,600  
Total liabilities     179,625       435,600  
                 
Net assets of discontinued operations   $ (149,521 )   $ (286,600 )

 

The major line items comprising the loss of discontinued operations are as follows:

 

    (Unaudited)     (Unaudited)  
    Three Months     Three Months  
    June 30, 2020     June 30, 2019  
Restaurant revenues   $                 -     $ 2,359,833  
Expenses:                
Administrative expenses     -       194,490  
Cost of sales     -       866,897  
Depreciation and amortization     -       82,060  
Restaurant operating expenses     -       1,299,082  
Other (income) expense     -       (158,796 )
      -       2,283,733  
Income (Loss) of discontinued operations   $ -     $ 76,100  

 

    (Unaudited)     (Unaudited)  
    Six Months     Six Months  
    June 30, 2020     June 30, 2019  
Restaurant revenues   $                 -     $ 4,720,015  
Expenses:                
Administrative expenses     -       353,227  
Cost of sales     -       1,722,401  
Depreciation and amortization     -       165,104  
Restaurant operating expenses     -       2,575,143  
Other (income) expense     -       (108,012 )
      -       4,707,863  
Income (Loss) of discontinued operations   $ -     $ 12,152  

 

Cash flows from discontinued operations is as follows:

 

    Six Months Ended  
    June 30, 2020     June 30, 2019  
             
Cash flows provided by (used in) Operating Activities   $     $ 166,576  
Cash flows provided by (used in) Investing Activities           (131,011 )
Cash flows provided by (used in) Financing Activities            
Net Cash Provided by (Used in) Discontinued Operations   $     $ 35,565