| Discontinued Operation |
Note 10 – Discontinued Operation
On August 5, 2024, the Company and the segment
manager of AT Tech Systems LLC reached a tentative oral agreement to terminate his employment and the employment of his two direct report
team members. The Company discontinued operations of AT Tech Systems on August 21, 2024 with a termination cost of $22,000.
The carrying amount of assets and liabilities
of discontinued operations as of September 30, 2024 and December 31, 2023 consist of the following:
| Schedule of discontinued operations |
|
September 30, |
|
|
December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
| Current assets of discontinued operations: |
|
|
|
|
|
|
|
|
| Accounts receivable, net |
|
$ |
– |
|
|
$ |
150,870 |
|
| Prepaid expenses |
|
|
– |
|
|
|
8,427 |
|
| Total current assets of discontinued operations |
|
$ |
– |
|
|
$ |
159,297 |
|
| |
|
|
|
|
|
|
|
|
| Current liabilities of discontinued operations: |
|
|
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
|
$ |
12,521 |
|
|
$ |
47,505 |
|
| Other current liabilities |
|
|
– |
|
|
|
59,092 |
|
| Total current liabilities of discontinued operations |
|
$ |
12,521 |
|
|
$ |
106,597 |
|
The income (loss) from discontinued operations
presented in the statement of operations for the three and nine months ended September 30, 2024 and 2023 as follows:
|
|
|
|
|
|
|
|
|
| Discontinued operations - Statement of Operations |
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
| |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
| Revenue |
|
$ |
2,600 |
|
|
$ |
246,516 |
|
|
$ |
50,772 |
|
|
$ |
531,053 |
|
| Cost of Revenue |
|
|
29,079 |
|
|
|
157,008 |
|
|
|
195,114 |
|
|
|
357,307 |
|
| Gross Profit (loss) |
|
|
(26,479 |
) |
|
|
89,508 |
|
|
|
(144,342 |
) |
|
|
173,746 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling expense |
|
|
– |
|
|
|
8,443 |
|
|
|
9,834 |
|
|
|
19,255 |
|
| General and administrative |
|
|
1,648 |
|
|
|
20,087 |
|
|
|
127,151 |
|
|
|
51,571 |
|
| Total Operating Expenses |
|
|
1,648 |
|
|
|
28,530 |
|
|
|
136,985 |
|
|
|
70,826 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from Operations |
|
|
(28,127 |
) |
|
|
60,978 |
|
|
|
(281,327 |
) |
|
|
102,920 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income (expense), net |
|
|
1,343 |
|
|
|
(80 |
) |
|
|
1,148 |
|
|
|
(120 |
) |
| Other income (expense), net |
|
|
– |
|
|
|
296 |
|
|
|
2,356 |
|
|
|
2,077 |
|
| Total other income, net |
|
|
1,343 |
|
|
|
216 |
|
|
|
3,504 |
|
|
|
1,957 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) |
|
$ |
(26,784 |
) |
|
$ |
61,194 |
|
|
$ |
(277,823 |
) |
|
$ |
104,877 |
|
Total operating cash flows from discontinued
operations were $65,221 and $(133,881), respectively, for the nine months ended September 30, 2024 and 2023.
|