XML 46 R11.htm IDEA: XBRL DOCUMENT

Sale of CTI

12 Months Ended

Dec. 31, 2018

NOTE 4 – SALE OF CTI

On May 24, 2018, the Company entered into a stock purchase agreement between John Guild, JohnG Solutions LLC and CTI in which the Company agreed to sell their 70% ownership in CTI for a total purchase price of $1.00. During the year ended December 31, 2018, the Company recorded a loss of $456,169 related to the sale of CTI, as follows:

Cash	$	(1,973	)
Accounts receivable, net		(84,653	)
Accounts receivable from CTI		(429,171	)
Property and equipment, net		(2,912	)
Intangible assets, net		(13,086	)
Loans receivable from related party, net		(2,387	)
Security deposits and other assets		(300	)
Accounts payable and accrued expenses		133,930
Deferred revenue		8,110
Net fair value of assets and liabilities sold		(392,442	)
Accumulated deficit		8,272
Subtotal		(384,170	)
Non-controlling interest		(71,999	)
Loss on sale of CTI	$	(456,169	)