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 |
|
|