DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE 15 – DISCONTINUED OPERATIONS

The financial results of our EDI Practice (“Mapadoc”) through December 31, 2019 are presented as discontinued operations. The following table presents the financial results of “Mapadoc.”

Mapadoc Results of Operations for the year ended December 31, 2019:

	Year Ended
	December 31, 2019
Revenues:
Software product, net	$	445,025
Service, net		2,936,898
Total revenues, net		3,381,923

Cost of revenues:
Product		2,745
Service		1,387,926
Cost of revenues		1,390,671

Gross profit		1,991,252

Selling, general and administrative expenses:
Selling and marketing expenses		371,061
General and administrative expenses		540,822
Depreciation and amortization expenses		90,844
Total selling, general and administrative expenses		1,002,727

Income from discontinued operations		988,525
Gain from sale of discontinued operations		10,307,155
Provision for income taxes		(3,033,590	)
Income from discontinued operations	$	8,262,090
Calculation of gain on sale

Purchase Price*	$	11,662,868
Net Assets at August 26, 2019		(1,575,547	)
Net Liabilities at August 26, 2019		437,260
Expenses associated with the sale		(217,426	)
Gain on sale	$	10,307,155

*Includes $162,868 of working capital adjustment