v3.20.1
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assets and Liabilities Held-for-Sale

Assets and liabilities held-for-sale as of June 30, 2019 and December 31,2018 consisted of the following:

   June 30,  December 31,
   2019  2018
Assets held-for-sale          
Cash and cash equivalents  $—     $176,313 
Cryptocurrency   —      6,189 
Property and equipment, net   1,455,047    1,408,490 
Total  $1,455,047   $1,590,992 
           
Liabilities held-for-sale          
Current liabilities:          
Accounts payable  $301,548   $58,628 
Checks drawn in excess of bank balance   9,139    27,793 
Accrued expenses   5,080    5,080 
Payroll liabilities   7,519    7,707 
Related party loans   359,114    20,001 
Auto loans   44,256    45,950 
Loans payable - net of discounts $0 and $180,085   1,363,843    1,010,714 
Deferred revenue   255,362    275,362 
Contingent liability   —      83,000 
Total  $2,345,861   $1,534,235 
Schedule of Results of Discontinued Operations

Results of the discontinued operations for the three months and six months ended June 30, 2019 and 2018 are:

   Three months ended  Six months ended
   June 30,  June 30,
   2019  2018  2019  2018
REVENUES  $—     $—     $10,392   $—   
COST OF SALES   —      —      436,403    —   
GROSS PROFIT   —      —      (426,011)   —   
General and administrative expenses   40,416    —      124,068    —   
Depreciation expense   28,783    —      57,248    —   
Total operating expense   69,199    —      181,316    —   
Loss from operations   (69,199)   —      (607,327)   —   
OTHER INCOME (EXPENSES)                    
Interest expense and amortization of debt discount   (83,667)   —      (477,960)   —   
Impairment loss on cryptocurrency   —      —      (6,189)   —   
Gain on extinguishment of debt   143,904    —      143,904    —   
Total other income (expense)   60,237    —      (340,245)   —   
Loss from discontinued operations  $(8,962)  $—     $(947,572)  $—   
Schedule of Cash Flow from Discontinued Operations

The following table provides supplemental cash flow information related to discontinued operations:

   Six Month Ended
   June 30,
   2019
CASH FLOWS FROM OPERATING ACTIVITIES:     
Loss from discontinued operation  $(947,572)
Adjustments to reconcile loss from discontinued operation to net cash used in operating activities - discontinued operation:     
Gain on extinguishment of debt   (143,904)
Amortization of debt discount   207,040 
Depreciation expense   57,248 
Impairment loss on cryptocurrency   6,189 
Default penalty interest   270,920 
Change in operating assets and liabilities:     
Accounts payable and accrued expenses   247,365 
Payroll liability   (188)
Deferred revenue   (20,000)
Net cash used in operating activities - discontinued operations   (322,902)
      
CASH FLOWS FROM INVESTING ACTIVITIES:     
Cash paid for fixed assets acquisition   (103,805)
Net cash used in investing activities - discontinued operations   (103,805)
      
CASH FLOWS FROM FINANCING ACTIVITIES     
Bank overdraft   (18,654)
Proceeds from notes payable   112,400 
Repayment of notes payable   (65,506)
Proceeds from related party loans   307,134 
Repayment of related party loans   (83,286)
Repayment of auto loan   (1,694)
Net cash provided by financing activities  - discontinued operations   250,394