Quarterly report pursuant to Section 13 or 15(d)

Discontinued operations

v3.8.0.1
Discontinued operations
 9 Months Ended
Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued operations
Discontinued operations:
Management decided to cease operations for the following entities: One Atlantic City (2012), STKOUT Midtown (2013), BBCLV (2013), Heraea (2013), Miami Services (2014) and Tenjune (2014).
 
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 September 30, 2017 and December 31, 2016:
 
 
September 30, 
 2017
 
December 31, 
 2016
 
 
 
 
Other current assets
$
107,630

 
$
107,630

   Assets of discontinued operations - current
107,630

 
107,630

 
 
 
 
Security deposits
75,000

 
84,904

   Assets of discontinued operations - long term
75,000

 
84,904

 
 
 
 
Accounts payable and accrued liabilities
545,585

 
529,797

   Liabilities of discontinued operations - current
545,585

 
529,797

 
 
 
 
Net assets
$
(362,955
)
 
$
(337,263
)
  
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 nine months ended September 30, 2017 and 2016:
 
 
Three Months Ended September 30,
 
Nine Months Ended 
 September 30,
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Revenue
$
—

 
$
—

 
$
—

 
$
—

Costs and Expenses
(376
)
 
2,885

 
105,996

 
1,287

Net income (loss) from discontinued operations, net of taxes
$
376

 
$
(2,885
)
 
$
(105,996
)
 
$
(1,287
)