Quarterly report pursuant to Section 13 or 15(d)

Discontinued operations (Tables)

v3.2.0.727
Discontinued operations (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2015 and December 31, 2014:
 
 
June 30, 
 2015
 
December 31, 
 2014
 
 
 
 
Other current assets
$
48,343

 
$
67,676

Due from related parties
808,886

 
814,227

Assets of discontinued operations - current
857,229

 
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
410,133

 
551,266

Due to related parties
3,608,567

 
3,654,552

Liabilities of discontinued operations - current
4,018,700

 
4,205,818

 
 
 
 
Net assets
$
(2,917,296
)
 
$
(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 and six months ended June 30, 2015 and 2014:
 
 
Three months ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
 
 
 
 
 
 
 
Revenue
$
—

 
$
—

 
$
—

 
$
102,330

Costs and Expenses
35,434

 
346,252

 
38,572

 
1,373,756

Net loss from discontinued operations, net of taxes
$
(35,434
)
 
$
(346,252
)
 
$
(38,572
)
 
$
(1,271,426
)