Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.21.1
Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 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:

 

    December 31, 2020     December 31, 2019  
             
Other receivable   $     $ 149,000  
Total assets           149,000  
                 
Accounts payable and accrued expenses           435,600  
Total liabilities           435,600  
                 
Net assets of discontinued operations   $     $ (286,600 )

 

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

 

    Year Ended  
    December 31, 2020     December 31, 2019  
Restaurant revenues   $     $ 8,203,692  
Expenses:                
Administration expenses           588,368  
Cost of sales           3,067,867  
Depreciation and amortization           252,234  
Asset impairment charge           857,357  
Restaurant operating expenses           4,460,078  
Other (income) expense           (538 )
            9,225,366  
Income (Loss) of discontinued operations         $ (1,021,674 )

 

Cash flows from discontinued operations is as follows:

 

    Year Ended  
    December 31, 2020     December 31, 2019  
Cash flows provided by (used in) Operations Activities   $       —     $ 302,759  
Cash flows provided by (used in) Investing Activities           290,604  
Cash flows provided by (used in) Financing Activities            
Net Cash provided by (used in) Discontinued Operations   $     $ 593,363