SPINOFF OF NOTATION LABS INC (Tables)
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9 Months Ended |
Sep. 30, 2022 |
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| SPINOFF OF NOTATION LABS INC |
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| Schedule of net assets and liabilities |
Assets | | | | Cash and cash equivalents | | | 79,517 | | Due to related party | | | 486,500 | | Total Assets of Discontinued Operations | | | 566,017 | | | | | | | Liabilities | | | | | Trade accounts payable and accrued liabilities | | | 75,918 | | Due to related party | | | 200 | | Notes payable - related party | | | 400,000 | | Notes payable | | | 21,340 | | Royalty liability | | | 460,000 | | Total current liabilities of discontinued operations | | | 957,458 | | Net liabilities spun off to shareholders | | | (391,441 | ) |
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| Schedule of components of assets and liabilities of discontinued operation |
| | December 31, | | | | 2021 | | Assets | | | | Cash and cash equivalents | | | 20,831 | | Total Assets of Discontinued Operations | | | | | | | | | | Liabilities | | | | | Trade accounts payable and accrued liabilities | | | 76,739 | | Due to related party | | | 200 | | Notes payable - related party | | | 200,000 | | Notes payable | | | 21,340 | | Royalty liability | | | 460,000 | | Total current liabilities of discontinued operations | | | 758,279 | |
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| Schedule of component of loss from discontinued operation |
| | September 30, | | | | 2022 | | Selling, general and administrative | | | 683 | | Research and development | | | 25,804 | | Other (income) expense, net | | | 2 | | loss from discontinued operations before taxes | | | 26,489 | | Taxes on income | | | - | | Loss from discontinued operations, net of taxes | | | 26,489 | |
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| Schedule of component of cash flow from discontinued operation |
| | September 30, | | Cash Flows from Operating Activities: | | 2022 | | Retained earnings transferred to Notation labs | | | 391,441 | | Net assets transferred to Notation labs | | | 134,831 | | Net liabilities transferred to Notation labs | | | (536,114 | ) | Accounts payable and accrued liabilities | | | (825 | ) | Net transfers to Notation Labs included in Net Cash used in operating activities included in Discontinued Operations | | | (10,667 | ) | | | | | | Cash Flows from Financing Activities: | | | | | Proceeds from notes payable related party | | | (114,000 | ) | Net transfer to Notation labs from financing activities | | | 151,160 | | Net transfers to Notation Labs included in Net Cash Provided by Financing activities Discontinued Operations | | | 37,160 | |
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