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Discontinued Operations - Sale of Interactive Offers
 9 Months Ended
Mar. 31, 2025
Discontinued Operations - Sale of Interactive Offers  
Discontinued Operations - Sale of Interactive Offers

Note 16. Discontinued Operations – Sale of Interactive Offers

 

On August 31, 2023, the Company sold Interactive offers to Amplifyir Inc. The purchase price is $1,250,000 with a provision to adjust the final purchase price based on the business being transferred to Amplifyer Inc. with a net zero working capital. In addition, the Buyer is obligated to pay the Company two-and one-half percent (2.5%) of certain advertising revenues of Interactive for a two-year period post-closing. Accordingly, the results of the business were classified as discontinued operations in our statements of operations and excluded from continuing operations.

 

Summary of discontinued operations:

 

 

 

Three Months

Ended

 

 

Nine Months

Ended

 

 

 

March 31,

2024

 

 

March 31,

2024

 

Discontinued Operations

 

 

 

 

 

 

Revenue

 

$-

 

 

$158,147

 

Cost of sales

 

$-

 

 

$11,982

 

Sales, general and administrative expenses

 

$-

 

 

$339,205

 

Depreciation and amortization

 

$-

 

 

$-

 

Income (loss) from discontinued operations

 

$-

 

 

$(193,040 )

Accounts receivable net of allowance for doubtful accounts

 

$-

 

 

$-

 

Fixed assets, net of accumulated depreciation

 

$-

 

 

$-

 

Total assets

 

$-

 

 

$-

 

Total liabilities

 

$-

 

 

$-