Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.20.1
Discontinued Operations (Tables)
3 Months Ended
Mar. 31, 2020
DropCar Segment [Member]  
Schedule of discontinued operations
   

For the

Three Months Ended

March 31,

 
    2020     2019  
SERVICE REVENUES   $ 1,012,261     $ 1,099,443  
COST OF REVENUE     842,642       1,127,045  
GROSS PROFIT (LOSS)     169,619       (27,602 )
                 
OPERATING EXPENSES                
   Research and development     42,634       68,982  
   General and administrative     333,069       1,129,025  
   Depreciation and amortization     78,760       107,749  
     TOTAL OPERATING EXPENSES     454,463       1,305,756  
                 
     OPERATING LOSS     (284,844 )     (1,333,358 )
                 
Other income, net     300       1,724  
                 
LOSS FROM DISCONTINUED OPERATIONS   $ (284,544 )   $ (1,331,634 )
Discontinued operations - other
   

March 31,

2020

   

December 31,

2019

 
             
Cash   $ 65,807     $ 81,457  
Accounts receivable, net     96,665       210,671  
Prepaid expenses and other current assets     35,430       83,058  
     Current assets held for sale   $ 197,902     $ 375,186  
                 
Property and equipment, net   $ 23,191     $ 25,723  
Capitalized software costs, net     364,116       410,261  
Operating lease right-of-use asset     -       1,886  
Other assets     3,525       3,525  
     Noncurrent assets held for sale   $ 390,832     $ 441,395  
                 
Accounts payable and accrued expenses     671,856       737,862  
Deferred revenue     240,616       302,914  
Current liabilities held for sale   $ 912,472     $ 1,040,776