Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.20.2
Discontinued Operations (Tables)
 9 Months Ended
Sep. 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:

 

    September 30, 2020     December 31, 2019  
              (Note 1)  
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   $ (149,541 )   $ (286,600 )

 

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

 

    Three Months
September 30, 2020		     Three Months
September 30, 2019		  
Restaurant revenues   $     —     $ 2,327,427  
Expenses:                
Administration expenses     —       (141,306 )
Cost of sales     —       (867,335 )
Depreciation and amortization     —       (81,167 )
Restaurant operating expenses     —       (1,195,578 )
Other income     —       13,303  
      —       (2,272,083 )
Income of discontinued operations     —     $ 55,344  

  

    Nine Months
September 30, 2020		     Nine Months
September 30, 2019		  
Restaurant revenues   $      —     $ 7,047,442  
Expenses:                
Administration expenses     —       (494,533 )
Cost of sales     —       (2,589,736 )
Depreciation and amortization     —       (246,271 )
Restaurant operating expenses     —       (3,770,721 )
Other income     —       121,315  
      —       (6,979,946 )
Income of discontinued operations   $ —     $ 67,496  

 

Cash flows from discontinued operations is as follows:

 

    Nine Months Ended  
    September 30, 2020     September 30, 2019  
Cash flows used in Operations Activities   $      —     $ (309,822 )
Cash flows used in Investing Activities     —       (2,586  )
Cash flows provided by Financing Activities     —       178,905  
Effect of exchange rate changes from discontinued operations on cash             10,563  
Net cash used in Discontinued Operations   $ —     $ (122,940 )