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Summary of Significant Accounting Policies and Use of Estimates (Tables)

6 Months Ended

Jun. 30, 2018

Summary Of Significant Accounting Policies And Use Of Estimates

Discontinued operations

TIMEFIREVR INC.
STATEMENTS OF OPERATIONS
(Unaudited)
		Three Months Ended								Six Months Ended
		June 30,				June 30,				June 30,				June 30,
		2018				2017				2018				2017
Revenues		$	—			$	488			$	—			$	488
Cost of sales			—				146				—				146
Gross profit			—				342				—				342
Operating expenses:
Research and development			—				344,001				—				792,892
Occupancy			—				20,135				—				43,342
Depreciation and amortization			—				3,151				—				6,303
Officer compensation			—				108,864				—				321,720
Professional fees			—				1,062				—				1,562
Other operating expenses			—				2,829				—				23,000
Total operating expenses			—				480,042				—				1,188,819
Loss from operations			—				(479,700	)			—				(1,188,477	)
Other income (expense):
Gain on disposal of Timefire, LLC			—				—				670,428				—
Interest income			—				—				—				2
Interest expense			—				(12,130	)			(180	)			(15,578	)
Total other income (expense)			—				(12,130	)			670,248				(15,576	)
Income (loss) from discontinued operations		$	—			$	(491,830	)		$	670,248			$	(1,204,053	)

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- References

No definition available.

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599

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