| Summary of results of operations of the discontinued operations |
The following table shows the results of
operations of the Company’s discontinued operations:
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
| 2015 |
|
2014 |
|
2015 |
|
2014 |
| |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
| Sales |
|
$ |
2,472,160 |
|
$ |
5,178,985 |
|
$ |
3,954,791 |
|
$ |
7,981,403 |
| Cost of Sales |
|
|
2,019,659 |
|
|
3,559,528 |
|
|
4,060,948 |
|
|
5,898,043 |
| Operating Expenses |
|
|
1,411,185 |
|
|
10,746,944 |
|
|
2,732,180 |
|
|
13,851,902 |
| Operating Loss |
|
|
(958,684) |
|
|
(9,127,487) |
|
|
(2,838,337) |
|
|
(11,768,542) |
| Other expenses (income), net |
|
|
45,174 |
|
|
(53,835) |
|
|
137,384 |
|
|
(44,139) |
| Net loss from discontinued operations |
|
$ |
(1,003,858) |
|
$ |
(9,073,652) |
|
$ |
(2,975,721) |
|
$ |
(11,724,403) |
|
| Summary of assets and liabilities of the discontinued operations |
The following table shows the assets and
liabilities of the Company’s discontinued operations at June 30, 2015 and December 31, 2014:
| |
|
|
|
|
|
|
| |
|
June 30, |
|
December 31, |
| 2015 |
2014 |
| |
|
(Unaudited) |
|
(Unaudited) |
| Accounts receivable |
|
$ |
2,193,274 |
|
$ |
2,687,858 |
| Prepaid assets |
|
|
450 |
|
|
122,999 |
| Current assets |
|
|
2,193,724 |
|
|
2,810,857 |
| |
|
|
|
|
|
|
| Property, plant & equipment, net |
|
|
140,232 |
|
|
455,582 |
| Other assets |
|
|
- |
|
|
72,531 |
| Total assets |
|
$ |
2,333,956 |
|
$ |
3,338,970 |
| |
|
|
|
|
|
|
| Accounts payable |
|
$ |
316,071 |
|
$ |
348,660 |
| Accrued revenue share & agency fees |
|
|
2,749,548 |
|
|
3,861,967 |
| Accrued liabilities |
|
|
416,595 |
|
|
926,604 |
| Deferred revenue |
|
|
- |
|
|
8,333 |
| Current liabilities |
|
|
3,482,214 |
|
|
5,145,564 |
| Other long-term liabilities |
|
|
- |
|
|
341,644 |
| Total liabilities |
|
$ |
3,482,214 |
|
$ |
5,487,208 |
|