Annual report pursuant to Section 13 and 15(d)

Discontinued operations (Tables)

v2.4.1.9
Discontinued operations (Tables)
12 Months Ended
Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations
The following table shows the components of assets and liabilities that are classified as discontinued operations in the Company's consolidated balance sheets as of December 31, 2014 and 2013.

 
Years ended December 31,
 
2014
 
2013
 
 
 
 
Cash and cash equivalents
$
1,312

 
$

Accounts receivable
2,415

 
79,508

Inventory
15,609

 

Prepaid expenses and other current assets
48,340

 
146,785

Due from related parties
814,227

 

Assets of discontinued operations - current
881,903

 
226,293

Property and equipment, net
169,175

 

Security deposits
75,000

 

Assets of discontinued operations - long term
244,175

 

Accounts payable and accrued liabilities
551,266

 

Due to related parties
3,654,552

 

Liabilities of discontinued operations - current
4,205,818

 

Deferred rent payable

 

Net assets
$
(3,079,740
)
 
$
226,293


 


Summarized operating results related to these entities are included in discontinued operations in the accompanying consolidated statements of operations and comprehensive loss for the years ended December 31, 2014 and 2013:
 
 
Years ended December 31,
 
2014
 
2013
Revenue
$
102,330

 
$
3,882,598

Costs and expenses
1,594,886

 
9,995,554

 
 
 
 
Net loss from discontinued operations, net of tax
$
(1,492,556
)
 
$
(6,112,956
)