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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The table below sets forth the loss from discontinued operations: Schedule of Discontinued Operations
|  | 2024 |  |  | 2023 |
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |
Revenue |  | $ | 22,159 |  |  | $ | 100,573 |
Cost of revenue |  |  | 15,137 |  |  |  | 53,883 |
Gross profit (loss) |  |  | 7,022 |  |  |  | 46,690 |
Operating expense |  |  |  |  |  |  |  |
Selling and marketing |  |  | 12,358 |  |  |  | 49,982 |
General and administrative (1) |  |  | 45,907 |  |  |  | 369 |
Depreciation and amortization |  |  | 2,401 |  |  |  | 14,681 |
Loss on impairment of assets (2) |  |  | 39,391 |  |  |  | - |
Total operating expenses |  |  | 100,057 |  |  |  | 65,032 |
Loss from discontinued operations |  |  | (93,035 | ) |  |  | (18,342 | )
Income tax provision |  |  | (8 | ) |  |  | (25 | )
Net loss from discontinued operations |  | $ | (93,043 | ) |  | $ | (18,367 | )
(1) | General and administrative expenses for the year ended December 31, 2024, includes a $45,000 termination fee liability.
(2) | Loss on impairment of assets for the year ended December 31, 2024 of $39,391, includes $8,601 for the impairment of intangible assets and $30,790 for the impairment of subscription acquisition costs.
The table below sets forth the major classes of assets and liabilities of the discontinued operations:
|  | 2024 |  |  | 2023 |
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Assets |  |  |  |  |  |
Accounts receivable, net |  | $ | - |  |  | $ | 13,135 |
Subscription acquisition costs, current portion |  |  | - |  |  |  | 29,706 |
Prepayments and other current assets |  |  | - |  |  |  | 807 |
Current assets from discontinued operations |  |  | - |  |  |  | 43,648 |
Subscription acquisition costs, net of current portion |  |  | - |  |  |  | 7,215 |
Acquired and other intangibles assets, net |  |  | - |  |  |  | 11,002 |
Noncurrent assets from discontinued operations |  |  | - |  |  |  | 18,217 |
Total assets from discontinued operations |  | $ | - |  |  | $ | 61,865 |
Liabilities |  |  |  |  |  |  |  |
Accounts payable |  | $ | 1,783 |  |  | $ | 2,554 |
Accrued expenses and other |  |  | 519 |  |  |  | 1,868 |
Subscription refund liability |  |  | 423 |  |  |  | 403 |
Royalty fee liability (1) |  |  | 3,750 |  |  |  | - |
Termination fee liability (1) |  |  | 45,000 |  |  |  | - |
Subscription liability, current portion |  |  | 44,684 |  |  |  | 42,848 |
Current liabilities from discontinued operations |  |  | 96,159 |  |  |  | 47,673 |
Subscription liability, net of current portion |  |  | - |  |  |  | 10,137 |
Noncurrent liabilities from discontinued operations |  |  | - |  |  |  | 10,137 |
Total liabilities from discontinued operations |  | $ | 96,159 |  |  | $ | 57,810 |
(1) | Further details related to the alleged and disputed royalty fee liability of $3,750 and termination fee liability of $45,000 are described under the heading ABG Group Legal Matters in Note 25.
The table below sets forth the cash flows of the discontinued operations:
|  | 2024 |  |  | 2023 |
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |
Cash flows from operating activities from discontinued operations |  |  |  |  |  |  |  |
Net loss from discontinued operations |  | $ | (93,043 | ) |  | $ | (18,367 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Amortization of intangible assets |  |  | 2,401 |  |  |  | 14,681 |
Loss on impairment of assets |  |  | 39,391 |  |  |  | - |
Stock-based compensation |  |  | 606 |  |  |  | 2,768 |
Bad debt expense |  |  | 1,058 |  |  |  | - |
Change in operating assets and liabilities: |  |  |  |  |  |  |  |
Accounts receivable, net |  |  | 12,077 |  |  |  | (64 | )
Subscription acquisition costs |  |  | 6,131 |  |  |  | 3,143 |
Prepayments and other current assets |  |  | 807 |  |  |  | 724 |
Accounts payable |  |  | (771 | ) |  |  | (4,700 | )
Accrued expenses and other (1) |  |  | (1,349 | ) |  |  | 114 |
Subscription refund liability |  |  | 20 |  |  |  | (442 | )
Subscription liability |  |  | (8,301 | ) |  |  | (4,712 | )
Royalty fee liability (1) |  |  | 3,750 |  |  |  | - |
Termination fee liability (1) |  |  | 45,000 |  |  |  | - |
Net cash provided by operating activities from discontinued operations |  | $ | 7,777 |  |  | $ | (6,855 | )
(1) | Included within accrued expenses and other on consolidated statements of cash flows.

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