v2.4.0.6
DISPOSAL OF DIVISION
9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
NOTE 6 - DISPOSAL OF DIVISION

On August 31, 2012, Bitzio Inc. disposed of the assets and liabilities related to its information productions division.

 

Cash and cash equivalents   $ 2,460  
Customer List, net book value     1,074,537  
Due from related party     148,304  
    Total assets disposed     1,225,301  
         
Accounts payable     552,371  
Notes payable     114,643  
    Total liabilities disposed     667,014  
     Net loss on disposal of division   $ 558,287