Quarterly report pursuant to Section 13 or 15(d)

Discontinued operations (Tables)

v2.4.1.9
Discontinued operations (Tables)
 3 Months Ended
Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of components of assets and liabilities that are classified as 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 March 31, 2015 and December 31, 2014:
 
 
March 31, 
 2015
 
December 31, 
 2014
 
 
 
 
Cash and cash equivalents
$
1,332

 
$
1,312

Accounts receivable
—

 
2,415

Inventory
—

 
15,609

Prepaid expenses and other current assets
47,556

 
48,340

Due from related parties
811,403

 
814,227

Assets of discontinued operations - current
860,291

 
881,903

Property and equipment, net
169,175

 
169,175

Security deposits
75,000

 
75,000

Assets of discontinued operations - long term
244,175

 
244,175

Accounts payable and accrued liabilities
534,323

 
551,266

Due to related parties
3,653,969

 
3,654,552

Liabilities of discontinued operations - current
4,188,292

 
4,205,818

Deferred rent payable
—

 
—

Net assets
$
(3,083,826
)
 
$
(3,079,740
)
Schedule of Discontinued Operations
Summarized operating results related to these entities are included in discontinued operations in the accompanying consolidated statements of operations and comprehensive loss for the three months ended March 31, 2015 and 2014:
 
 
Three Months Ended March 31,
 
2015
 
2014
 
 
 
 
Revenue
$
—

 
$
102,330

Costs and Expenses
3,138

 
1,027,504

Net income loss from discontinued operations
$
(3,138
)
 
$
(925,174
)