XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.24.3

Discontinued Operations | 9 Months Ended
--- | ---
Sep. 30, 2024
Discontinued Operations |
Discontinued Operations |
20 | Discontinued Operations
As described in Note 2, prior year financial statements for 2023 have been restated to present the operations of SG DevCorp as a discontinued operation. The financial results of SG DevCorp are presented as income (loss) from discontinued operations. The following table represents the financial results of SG DevCorp:
|  |  | For the Nine Months Ended September 30, 2024 |  |  | For the Nine Months Ended September 30, 2023 |  |  | For the Three Months Ended September 30, 2023 |
| Operating Expenses: |  |  |  |  |  |  |  |  |  |  |
| Payroll and related expenses | $ | 1,223,511 |  |  | $ | 898,876 |  |  | $ | 228,779 |
| General and administrative expenses |  | 295,664 |  |  |  | 861,179 |  |  |  | 341,205 |
| Marketing and business development expenses |  | 10,219 |  |  |  | 41,309 |  |  |  | 14,003 |
| Operating loss |  | (1,529,394 | ) |  |  | (1,801,364 | ) |  |  | (583,987 | )
| Other income (expense) |  | (422,941 | ) |  |  | (814,601 | ) |  |  | 339,556 |
| Net loss | $ | (1,952,335 | ) |  | $ | (2,615,965 | ) |  | $ | (923,543 | )
The total income from discontinued operations for the nine months ended September 30, 2024, is comprised of the following:
| Gain from Deconsolidation | $ | 4,728,348 |
| Net loss from discontinued operations |  | (1,952,335 | )
| Net loss | $ | 2,776,013 |
The following table presents the aggregate carrying amounts of assets and liabilities of discontinued operations of SG DevCorp as of December 31, 2023:
| Assets: |  |  |  |
| Cash |  | $ | 3,236 |
| Assets held for sale |  |  | 4,400,361 |
| Prepaid expenses and other current assets |  |  | 231,989 |
| Total current assets |  |  | 4,635,586 |
| Property, plant and equipment, net |  |  | 1,194,224 |
| Project development costs and other non-current assets |  |  | 65,338 |
| Intangible assets, net |  |  | 22,210 |
| Investment in and advances to equity affiliates |  |  | 3,642,607 |
| Total long-term assets |  |  | 4,924,379 |
| Liabilities: |  |  |  |
| Accounts payable and accrued expenses |  |  | 861,292 |
| Short-term notes payable, net |  |  | 6,810,897 |
|  |  | $ | 7,672,189 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration