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Discontinued Operations
 9 Months Ended
Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

Note 2 – Discontinued Operations

  

As of September 30, 2016 the business activities of All-American Golf Center (AAGC) are deemed held for sale in accordance with ASC 205. All references to discontinued operations included the operations of AAGC only.

  

Results of Discontinued Operations:

          For the Three Months Ending   For the Nine Months Ending
          September  30,   September 30,
          2016  

 

2015

   2016   2015
Revenue         $             364,472               $         452,662   $       1,363,578           $       1,468,214
Revenue - Related Party             40,950                  40,950            122,850   122,850
Total Revenue     405,422                  493,612      1,486,428           1,591,064
                       
Cost of revenue             129,349               196,718   418,014              494,446
                       
Gross profit               276,073               296,894   1,068,414              1,096,618
                       
General and administrative expenses       282,428            263,455         825,202              794,711
Depreciation and amortization        27,980                  26,596            84,502                 80,796
Total expenses           310,408   290,051         909,705              875,567
                       
Net operating income (loss)               (34,335)                  6,843         158,709              221,051
                       
Other income (expense):                
Interest expense         (28,746)               (29,411)         (87,255)              (91,374)
                              -                             -                       -                            -  
Total other income (expense)         (28,746)               (29,411)   (87,255)              (91,370)
                       
Income (loss) from discontinued operation          $           (63,080)                $         (22,568)   $        71,454             $       129,677
                       

  

  

The assets and liabilities of discontinued operations are set forth as below:

  

 

Assets

        

 

September 30, 2016

  

 

December 31, 2015

               
  Current assets:          
    Cash     $            6,335                      $           5,856
   

  

Accounts receivable

    

 

 19,500  

   -  
   

 

Prepaid expenses and other current assets

    

 

12,228  

  

 

15,002  

   

 

Total current assets

    

 

38,063  

  

 

39,197  

               
 

 

 Property and equipment,

    

 

442,596

  

 

526,018

   

 

Total fixed assets

    

 

442,596

  

 

526,018

   

 

Total assets

    

 

$        480,659

  

 

$        565,215

               
 

 

 

 

    

 

  

  

 

  

Current liabilities:          
  Cash in excess of available funds  $                    -   $            29,371
  Accounts payable and accrued expenses 541,190   465,958
  Current portion of deferred revenue 100,000   125,000
  Current portion of notes payable - related parties 1,034,077   999,077
  Current portion due to related parties 540,893   511,220
  Current portion of capital lease obligation 32,897   32,082
  Accrued interest payable - related party 929,064   868,679
    Total current liabilities 3,178,121   3,031,387
             
Long-term liabilities:          
  Long-term portion of capital lease obligation 8,484   33,623
  Deferred revenue   50,000   100,000
  Deferred rent liability   527,602   560,438
             
    Total long-term liabilities 586,086   694,061
             
Total Liabilities     $   3,764,207   $    3,725,448