| Gain or (loss) from operations of discontinued pharmacies |
The
Company’s Gain or (loss) from operations of discontinued pharmacies, net of tax benefit for the year ended December 31,
2013 and 2012, respectively are detailed as follows:
| |
|
Year
Ended December 31, |
|
| |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| Sales |
|
$ |
2,270,536 |
|
|
$ |
8,509,338 |
|
| |
|
|
|
|
|
|
|
|
| Cost of sales |
|
|
1,740,863 |
|
|
|
6,769,696 |
|
| |
|
|
|
|
|
|
|
|
| Gross profit |
|
|
529,673 |
|
|
|
1,739,642 |
|
| |
|
|
|
|
|
|
|
|
| Operating expenses |
|
|
755,128 |
|
|
|
1,690,248 |
|
| |
|
|
|
|
|
|
|
|
| Impairment of goodwill |
|
|
697,766 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| Loss from discontinued operations |
|
|
(923,221 |
) |
|
|
49,394 |
|
| |
|
|
|
|
|
|
|
|
| Other expenses |
|
|
|
|
|
|
|
|
| Interest expense, net |
|
|
14,151 |
|
|
|
75,455 |
|
| Income tax benefit |
|
|
(328,080 |
) |
|
|
(9,121 |
) |
| Gain or (loss) from operations of discontinued
pharmacies, net of tax benefit |
|
$ |
(609,292 |
) |
|
$ |
(16,940) |
|
|
| Assets and liabilities for discontinued operations |
The
Company’s assets and liabilities for discontinued operations included in the consolidated balance sheet as of December 31,
2013 and 2012 are detailed as follows:
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| ASSETS |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Current Assets |
|
|
|
|
|
|
| Accounts receivable, net |
|
$ |
4,048 |
|
|
$ |
343,259 |
|
| Inventories |
|
|
- |
|
|
|
211,427 |
|
| Prepaid and other current assets |
|
|
- |
|
|
|
12,113 |
|
| Assets of discontinued
operations |
|
$ |
4,048 |
|
|
$ |
566,799 |
|
| |
|
|
|
|
|
|
|
|
| Other receivables, net |
|
|
140,563 |
|
|
|
206,736 |
|
| Property and equipment, net |
|
|
- |
|
|
|
15,670 |
|
| Goodwill |
|
|
- |
|
|
|
697,766 |
|
| Assets
of discontinued operations, non-current, net |
|
$ |
140,563 |
|
|
$ |
920,172 |
|
| |
|
|
|
|
|
|
|
|
| LIABILITIES |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Current Liabilities |
|
|
|
|
|
|
|
|
| Accounts payable and accrued
expenses |
|
|
150,652 |
|
|
|
2,655,303 |
|
| Liabilities
of discontinued operations |
|
$ |
150,652 |
|
|
$ |
2,655,303 |
|
|