Document and Entity Information
Document and Entity Information - $ / shares | Nov. 14, 2018 | Sep. 30, 2018 |
Details | ||
Registrant Name | FULLNET COMMUNICATIONS INC. | |
Registrant CIK | 1,092,570 | |
SEC Form | 10-Q | |
Period End date | Sep. 30, 2018 | |
Fiscal Year End | --12-31 | |
Trading Symbol | fulo | |
Tax Identification Number (TIN) | 731,473,361 | |
Number of common stock shares outstanding | 13,621,009 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Small Business | true | |
Emerging Growth Company | false | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Entity Incorporation, State Country Name | OKLAHOMA | |
Entity Address, Address Line One | 201 Robert S. Kerr Avenue, Suite 210 | |
Entity Address, City or Town | Oklahoma City | |
Entity Address, State or Province | Oklahoma | |
Entity Address, Postal Zip Code | 73,102 | |
City Area Code | 405 | |
Local Phone Number | 236-8200 | |
Entity Listing, Par Value Per Share | $ 0.00001 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (September 30, 2018 unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | |
CURRENT ASSETS | |||
Cash | $ 176,438 | $ 29,399 | |
Accounts receivable, net | 8,583 | 8,854 | |
Prepaid expenses and other current assets | 43,869 | 6,110 | |
Assets of discontinued operations | [1] | 6,357 | 4,472 |
Total current assets | 235,247 | 48,835 | |
PROPERTY AND EQUIPMENT, net | 40,869 | 39,448 | |
OTHER ASSETS AND INTANGIBLE ASSETS | 15,188 | 21,813 | |
LONG-TERM ASSETS DISCONTINUED OPERATIONS, net (Note 8) | [1] | 14,668 | 24,871 |
TOTAL ASSETS | 305,972 | 134,967 | |
CURRENT LIABILITIES | |||
Accounts payable | 23,131 | 37,371 | |
Accounts payable, related party | 3,516 | 7,982 | |
Accrued and other liabilities | 552,255 | 610,107 | |
Convertible notes payable, related party - current portion | 7,203 | 5,354 | |
Deferred revenue | 416,961 | 397,931 | |
Liabilities of discontinued operations | [1] | 83,747 | 140,566 |
Total current liabilities | 1,086,813 | 1,199,311 | |
CONVERTIBLE NOTES PAYABLE, related party - less current portion | 22,053 | 27,888 | |
Liabilities of Discontinued Operations | [1] | 0 | 53,246 |
Total liabilities | 1,108,866 | 1,280,445 | |
STOCKHOLDERS' DEFICIT | |||
Preferred Stock, Value | 633,806 | 618,675 | |
Common Stock, Value | 136 | 119 | |
Additional paid-in capital | 8,768,697 | 8,640,769 | |
Accumulated deficit | (10,205,533) | (10,405,041) | |
Total stockholders' deficit | (802,894) | (1,145,478) | |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 305,972 | $ 134,967 | |
[1] | Note 8 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (September 30, 2018 unaudited) - Parenthetical - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Details | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 987,102 | 987,102 |
Preferred Stock, Shares Outstanding | 987,102 | 987,102 |
Common Stock, Par or Stated Value Per Share | $ 0.00001 | $ 0.00001 |
Common Stock, Shares Authorized | 40,000,000 | 40,000,000 |
Common Stock, Shares, Issued | 13,621,009 | 11,871,009 |
Common Stock, Shares, Outstanding | 13,621,009 | 11,871,009 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
REVENUES | |||||
Co-location and other revenues | $ 505,642 | $ 452,860 | $ 1,498,594 | $ 1,355,728 | |
Access service revenues | 8,841 | 9,759 | 26,142 | 32,892 | |
Total revenues | 514,483 | 462,619 | 1,524,736 | 1,388,620 | |
OPERATING COSTS AND EXPENSES | |||||
Cost of co-location and other revenues | 64,492 | 43,874 | 170,288 | 114,502 | |
Cost of access service revenues | 2,375 | 2,536 | 7,842 | 7,880 | |
Selling, general and administrative expenses | 416,052 | 407,971 | 1,384,531 | 1,200,782 | |
Depreciation and amortization | 4,192 | 4,156 | 12,676 | 13,577 | |
Total operating costs and expenses | 487,111 | 458,537 | 1,575,337 | 1,336,741 | |
INCOME (LOSS) FROM OPERATIONS | 27,372 | 4,082 | (50,601) | 51,879 | |
OTHER INCOME | 79,646 | 0 | 102,251 | 0 | |
INTEREST EXPENSE | (108) | (495) | (604) | (1,612) | |
INCOME TAX EXPENSE | (6,000) | 0 | (18,000) | 0 | |
Net income from continuing operations | 100,910 | 3,587 | 33,046 | 50,267 | |
Gain from sale of discontinued asset | 0 | 0 | 233,277 | 0 | |
Net Income (Loss) from Discontinued Operations | [1] | (13,825) | (19,211) | (66,815) | (76,380) |
Net Income (Loss) Attributable to Parent | 87,085 | (15,624) | 199,508 | (26,113) | |
Preferred stock dividends | (5,044) | (6,725) | (15,131) | (20,174) | |
Net income (loss) available to common stockholders | $ 82,041 | $ (22,349) | $ 184,377 | $ (46,287) | |
Net income (loss) per share: | |||||
Income (Loss) from Continuing Operations, Per Basic Share | $ 0.01 | $ 0 | $ 0 | $ 0 | |
Income (Loss) from Continuing Operations, Per Diluted Share | 0.01 | 0 | 0 | 0 | |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | [1] | 0 | 0 | 0.01 | (0.01) |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | [1] | 0 | 0 | 0.01 | (0.01) |
Earnings Per Share, Basic | 0.01 | 0 | 0.02 | 0 | |
Earnings Per Share, Diluted | $ 0.01 | $ 0 | $ 0.01 | $ 0 | |
Weighted average common shares outstanding: | |||||
Weighted average shares and share equivalents outstanding - basic | 11,909,052 | 11,871,009 | 11,883,830 | 11,871,009 | |
Weighted average shares and share equivalents outstanding - diluted | 14,851,830 | 14,887,069 | 14,815,054 | 14,833,073 | |
[1] | Note 8 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT (UNAUDITED) - 9 months ended Sep. 30, 2018 - USD ($) | Common Stock | Preferred Stock | Additional Paid-in Capital | Retained Earnings | Total |
Equity Balance, Starting at Dec. 31, 2017 | $ 119 | $ 618,675 | $ 8,640,769 | $ (10,405,041) | $ (1,145,478) |
Shares Outstanding, Starting at Dec. 31, 2017 | 11,871,009 | 987,102 | |||
Stock Granted, Value, Share-based Compensation, Net of Forfeitures | $ 0 | $ 0 | 73,076 | 0 | 73,076 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | 0 | |||
Amortization of increasing dividend rate preferred stock discount | $ 0 | $ 15,131 | (15,131) | 0 | 0 |
Exercise of options by reducing deferred compensation payable | $ 17 | $ 0 | 69,983 | 0 | 70,000 |
Exercise of options by reducing deferred compensation payable, shares | 1,750,000 | 0 | |||
Net Income (Loss) | $ 0 | $ 0 | 0 | 199,508 | 199,508 |
Equity Balance, Ending at Sep. 30, 2018 | $ 136 | $ 633,806 | $ 8,768,697 | $ (10,205,533) | $ (802,894) |
Shares Outstanding, Ending at Sep. 30, 2018 | 13,621,009 | 987,102 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | ||
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income (loss) | $ 199,508 | $ (26,113) | |
(Income) loss from discontinued operations | [1] | (166,462) | 76,380 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities | |||
Depreciation and amortization | 12,676 | 13,577 | |
Stock options compensation | 73,076 | 11,005 | |
Provision for uncollectible accounts receivable | (5,796) | 262 | |
Increase (Decrease) in Operating Assets | |||
Accounts receivable | 6.067 | (1,320) | |
Prepaid expenses and other current assets | (37,759) | (14,766) | |
Increase (Decrease) in Operating Liabilities | |||
Accounts payable | (14,420) | (47,702) | |
Accounts payable - related party | (4,286) | (10,474) | |
Accrued and other liabilities | 12,148 | 55,915 | |
Deferred revenue | 19,030 | 36,479 | |
Net cash provided by operating activities | 93,782 | 93,243 | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Cash paid for property and equipment | (7,472) | (1,471) | |
Net cash used in investing activities | (7,472) | (1,471) | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Principal payments on borrowings under notes payable - related party | (3,986) | (3,755) | |
Net cash used in financing activities | (3,986) | (3,755) | |
DISCONTINUED OPERATIONS | |||
Net cash used in operating activities | (36,846) | (63,529) | |
Net cash provided by investing activities | 218,153 | 0 | |
Net cash used in financing activities | (116,592) | (21,054) | |
Net cash provided by (used in) discontinued operations | 64,715 | (84,583) | |
NET INCREASE (DECREASE) IN CASH | 147,039 | 3,434 | |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 29,399 | 19,383 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 176,438 | 22,817 | |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
Cash paid for income tax | 18,000 | 0 | |
Cash paid for interest - continuing operations | 1.417 | 1,612 | |
Cash paid for interest - discontinued operations | 51 | 8,652 | |
NON-CASH INVESTING AND FINANCING ACTIVITIES | |||
Amortization of increasing dividend rate preferred stock discount | 15,131 | 20,174 | |
Exercise of options by reducing deferred compensation payable | $ 70,000 | $ 0 | |
[1] | Note 8 |
1. UNAUDITED INTERIM FINANCIAL
1. UNAUDITED INTERIM FINANCIAL STATEMENTS | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
1. UNAUDITED INTERIM FINANCIAL STATEMENTS | 1. UNAUDITED INTERIM FINANCIAL STATEMENTS In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 (Topic 606) “Revenue from Contracts with Customers.” Topic 606 supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, “Revenue Recognition”, and requires entities to recognize revenue when they transfer control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. We adopted Topic 606 as of January 1, 2018. The adoption of Topic 606 did not have a material impact to our consolidated financial statements, including the presentation of revenues in our Consolidated Statements of Income because the revenue of the Company does not include contracts that extend over several periods. The unaudited condensed consolidated financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto for the year ended December 31, 2017. Certain reclassifications have been made to prior period balances to conform with the presentation for the current period. These reclassifications did not impact the net income (loss). The information furnished reflects, in the opinion of management, all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the results of the interim periods presented. Operating results of the interim period are not necessarily indicative of the amounts that will be reported for the year ending December 31, 2018. Income (Loss) Per Share Income (loss) per share – basic is calculated by dividing net income (loss) by the weighted average number of shares of stock outstanding during the year, including shares issuable without additional consideration. Income per share – assuming dilution is calculated by dividing net income by the weighted average number of shares outstanding during the year adjusted for the effect of dilutive potential shares calculated using the treasury stock method. Schedule of Income (Loss) Per Share Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net income (loss): Income from continuing operations $ 100,910 $ 3,587 $ 33,046 $ 50,267 Income (loss) from discontinued operations – See Note 8 (13,825) (19,211) 166,462 (76,380) Net income (loss) $ 87,085 $ (15,624) $ 199,508 $ (26,113) Preferred stock dividends (5,044) (6,725) (15,131) (20,174) Net income (loss) available to common shareholders 82,041 (22,349) 184,377 (46,287) Basic income (loss) per share: Weighted average common shares outstanding used in income (loss) per share 11,909,052 11,871,009 11,883,830 11,871,009 Basic income (loss) per share: Continuing operations 0.01 0.00 0.00 0.00 Discontinued operations – See Note 8 (0.00) (0.00) 0.01 (0.01) Basic income (loss) per share 0.01 (0.00) 0.02 (0.00) Diluted income (loss) per share: Shares used in diluted income (loss) per share 14,851,830 14,887,069 14,815,054 14,833,073 Diluted income (loss) per share: Continuing operations 0.01 0.00 0.00 0.00 Discontinued operations – See Note 8 (0.00) (0.00) 0.01 (0.01) Diluted income (loss) per share 0.01 (0.00) 0.01 (0.00) Computation of shares used in income (loss) per share: Weighted average shares and share equivalents outstanding – basic 11,909,052 11,871,009 11,883,830 11,871,009 Effect of preferred stock 987,102 987,102 987,102 987,102 Effect of dilutive stock options 1,727,251 1,796,778 1,716,322 1,745,847 Effect of dilutive warrants 228,425 232,180 227,800 229,115 Weighted average shares and share equivalents outstanding – diluted 14,851,830 14,887,069 14,815,054 14,833,073 Schedule of Anti-dilutive Securities Excluded Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Preferred stock - - - - Stock options 266,000 - 266,000 - Warrants - - - - Convertible promissory notes 29,256 158,444 29,256 158,444 Total anti-dilutive securities excluded 295,256 158,444 295,256 158,444 Anti-dilutive securities consist of stock options and convertible promissory notes whose exercise price or conversion price, respectively, was greater than the average market price of the common stock. |
2. GOING CONCERN AND MANAGEMENT
2. GOING CONCERN AND MANAGEMENT'S PLANS | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
2. GOING CONCERN AND MANAGEMENT'S PLANS | 2. GOING CONCERN AND MANAGEMENT'S PLANS At September 30, 2018 current liabilities exceeded current assets by $851,566. The Company does not have a line of credit or credit facility to serve as an additional source of liquidity. Historically the Company has relied on shareholder loans as an additional source of funds. These factors raise substantial doubts about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon continued operations of the Company that in turn is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, to maintain present financing, to achieve the objectives of its business plan and to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. The Company’s business plan includes, among other things, expansion through mergers and acquisitions and the development of its co-location and advanced voice and data solutions. Execution of the Company’s business plan will require significant capital to fund capital expenditures, working capital needs and debt service. There can be no assurance that current cash balances will be sufficient to fund the Company’s current business plan beyond the next few months. As a consequence, the Company is currently focusing on revenue enhancement and cost cutting opportunities as well as working to sell non-core assets and to extend vendor payment terms. The Company continues to seek additional convertible debt or equity financing as well as the placement of a credit facility to fund the Company’s liquidity. There can be no assurance that the Company will be able to obtain additional capital on satisfactory terms, or at all, or on terms that will not dilute the shareholders’ interests. |
3. CONVERTIBLE NOTES PAYABLE RE
3. CONVERTIBLE NOTES PAYABLE RELATED PARTY | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
3. CONVERTIBLE NOTES PAYABLE RELATED PARTY | 3. CONVERTIBLE NOTES PAYABLE RELATED PARTY At December 31, 2017, the Company had a secured convertible promissory note from a shareholder with a balance of $33,242. The interest rate of this note is 6%, requires monthly installments of $600 including principal and interest and matures May 31, 2023. This convertible promissory note is secured by certain equipment of the Company. The note holder has the right to convert the note, in its entirety or in part, into common stock of the Company at the rate of $1.00 per share. During the nine months ended September 30, 2018, the Company made principal and interest payments totaling $5,403, of which $3,986 was applied to the principal. The note had a balance of $29,256 at September 30, 2018, of which $7,203 is short-term and $22,053 is long-term. At December 31, 2017, the Company had a convertible promissory note from a shareholder with a balance of $116,592, which was secured by all tangible and intangible assets of the Company. The Company paid the remaining balance of $116,592 in full on February 1, 2018, to complete the sale of the Company’s competitive local exchange carrier or CLEC business. See footnote 8 – Discontinued Operations. |
4. STOCK BASED COMPENSATION
4. STOCK BASED COMPENSATION | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
4. STOCK BASED COMPENSATION | 4. STOCK BASED COMPENSATION The following table summarizes the Company’s employee stock option activity for the nine months ended September 30, 2018: Schedule of Employee Stock Option Activity Options Weighted average exercise price Weighted average remaining contractual life (yrs) Aggregate Intrinsic value Options outstanding, December 31, 2017 2,110,834 $0.006 8.18 Options exercisable, December 31, 2017 626,834 $0.003 6.03 $ 22,902 Options issued during the period 2,013,000 $0.040 Options expired during the period 3,000 $0.003 Options exercised during the period 1,750,000 $0.040 Options outstanding September 30, 2018 2,370,834 $0.010 7.65 Options exercisable, September 30, 2018 1,125,167 $0.005 6.64 $ 34,590 During the nine months ended September 30, 2018, 2,013,000 nonqualified employee stock options were granted with an exercise price of $.04 per option. The options were valued using Black-Scholes option pricing model on the respective date of issuance and the fair value of the shares was determined to be $76,996 of which $68,277 was recognized as stock-based compensation expense for the nine months ended September 30, 2018. Of these stock options, 1,750,000 of the stock options vested immediately upon grant (February 14, 2018) and 260,000 will vest one-fifth on each annual anniversary date of the grant. The total 2,013,000 will expire ten years from the date of the grant. On September 28, 2018, certain officers and directors and their family members exercised options to purchase 1,750,000 restricted shares of the Company’s common stock. Proceeds from the exercise of the Options were $70,000, which was derived from the reduction of deferred compensation payable the Company owed to these officers and directors. The common shares were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended and Rule 506 of Regulation D thereunder without payment of any form of commissions or other remuneration. Total stock-based compensation expense for the nine months ended September 30, 2018 was $73,076 of which $68,277 was related to options issued during the nine months ended September 30, 2018 and $4,799 was related to options issued in prior years. Stock-based compensation is measured at the grant date, based on the calculated fair value of the option, and is recognized as an expense on a straight-line basis over the requisite employee service period (generally the vesting period of the grant). The Black-Scholes option pricing model was used with the following weighted-average assumptions for options granted during the nine months ended September 30, 2018: 2018 Risk free interest rate 2.65% - 2.77% Expected lives (in years) 5 Expected volatility 163% - 178% Dividend yield 0% |
5. SERIES A CONVERTIBLE PREFERR
5. SERIES A CONVERTIBLE PREFERRED STOCK | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
5. SERIES A CONVERTIBLE PREFERRED STOCK | 5. SERIES A CONVERTIBLE PREFERRED STOCK On March 9, 2018 the Company’s board of directors determined that it was in the best interest of the Company and its stockholders to conserve the Company’s working capital at this time and not make the annual dividend payment for the year ending December 31, 2017, on its Series A Convertible Preferred Stock. The Company has never made an annual dividend payment on its Series A convertible preferred stock. As of September 30, 2018, the aggregate outstanding accumulated arrearages of cumulative dividend was $103,970 or if issued in common shares, 2,888,045 shares. The amortization of the increasing dividend rate preferred stock discount for the nine months ended September 30, 2018 was $15,131. |
6. PROPERTY AND EQUIPMENT
6. PROPERTY AND EQUIPMENT | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
6. PROPERTY AND EQUIPMENT | 6. PROPERTY AND EQUIPMENT During the nine months ended September 30, 2018, $7,472 was paid for property and equipment. During the three and nine months ended September 30, 2018, $1,984 and $6,051 was recorded as depreciation expense, respectively. |
7. INTANGIBLE ASSET
7. INTANGIBLE ASSET | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
7. INTANGIBLE ASSET | 7 INTANGIBLE ASSETS During the three and nine months ended September 30, 2018, $2,208 and $6,625 was recorded as amortization expense, respectively. |
8. DISCONTINUED OPERATIONS
8. DISCONTINUED OPERATIONS | 9 Months Ended |
Sep. 30, 2018 | |
Notes | |
8. DISCONTINUED OPERATIONS | 8. DISCONTINUED OPERATIONS In response to the changes in the telecommunications market and deterioration in the Company’s ability to effectively compete, the Company made the decision to exit the competitive local exchange carrier or CLEC business. On October 27, 2017, the Company’s board of directors adopted a plan to exit the CLEC business as soon as possible through the sale of its wholly owned CLEC subsidiary and/or substantially all of its CLEC subsidiary’s operating assets. The Company was in negotiations with a potential buyer at December 31, 2017, which buyer subsequently purchased substantially all of its CLEC subsidiary’s operating assets pursuant to an asset purchase agreement which was executed and closed on February 1, 2018 (the “Sale”). The Company determined that the Sale represented a strategic shift that will have a major effect on the Company’s operations and financial results since it represented a complete exit from the CLEC business and, therefore, classified its CLEC subsidiary as held for sale at December 31, 2017. The Company recognized a gain of $233,277 on the Sale based on total consideration of $264,872 less total basis in the assets sold and transactions costs of $31,595. The assets sold consisted primarily of customers and associated customer premise equipment. Consideration: Cash $ 246,500 Assumption of deferred revenue 8,366 Waived service obligation for February 2018 10,006 Total consideration $ 264,872 Total assets sold: Customer contracts $ - Fiber innerduct 3,248 Fiber strands - Customer CPE - Total assets 3,248 Transactional costs 28,347 Total basis $ 31,595 Net gain $ 233,277 Assets and Liabilities of Discontinued Operations September 30, 2018 December 31, 2017 Carrying amounts of assets included in discontinued operations Cash $ 3,442 $ 1,801 Prepaid expenses and other current assets 2,915 2,671 Property and equipment, net 14,668 24,871 Total Assets of Discontinued Operations $ 21,025 $ 29,343 Carrying amounts of liabilities included in discontinued operations Accounts payable $ 61,940 $ 57,342 Accrued and other liabilities 21,807 19,878 Convertible notes payable, related party – current portion - 116,592 Convertible notes payable, related party – less current portion - - Total Liabilities of Discontinued Operations $ 83,747 $ 193,812 Operating Results of Discontinued Operations Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Revenues included in discontinued operations Total colocation and other revenues - $ 39,357 28,091 $ 115,807 Operating costs and expenses included in discontinued operations Cost of services 10,128 $ 49,227 82,674 $ 162,639 Selling, general and administrative expenses 1,379 4,069 5,226 13,285 Depreciation and amortization 2,318 2,537 6,955 7,611 Interest expense - 2,735 51 8,652 Total operating costs and expenses discontinued operations $ 13,825 $ 58,568 $ 94,906 $ 192,187 Other Income included in discontinued operations Gain on sale of assets - - 233,277 - Net Income (Loss) from Discontinued Operations $ (13,825) $ (19,211) $ 166,462 $ (76,380) Net Income (Loss) per share from discontinued operations basic $ (0.00) $ (0.00) $ 0.01 $ (0.01) Net Income (Loss) per share from discontinued operations diluted $ (0.00) $ (0.00) $ 0.01 $ (0.01) Cash Flows from Discontinued Operations September 30, 2018 September 30, 2017 Net cash used in operating activities (36,846) (63,529) Net cash provided by investing activities 218,153 - Net cash used in financing activities (116,592) (21,054) Net cash provided by (used in) discontinued operations 64,715 (84,583) |
1. UNAUDITED INTERIM FINANCIA_2
1. UNAUDITED INTERIM FINANCIAL STATEMENTS: Income (Loss) Per Share (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Policies | |
Income (Loss) Per Share | Income (Loss) Per Share Income (loss) per share – basic is calculated by dividing net income (loss) by the weighted average number of shares of stock outstanding during the year, including shares issuable without additional consideration. Income per share – assuming dilution is calculated by dividing net income by the weighted average number of shares outstanding during the year adjusted for the effect of dilutive potential shares calculated using the treasury stock method. Schedule of Income (Loss) Per Share Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net income (loss): Income from continuing operations $ 100,910 $ 3,587 $ 33,046 $ 50,267 Income (loss) from discontinued operations – See Note 8 (13,825) (19,211) 166,462 (76,380) Net income (loss) $ 87,085 $ (15,624) $ 199,508 $ (26,113) Preferred stock dividends (5,044) (6,725) (15,131) (20,174) Net income (loss) available to common shareholders 82,041 (22,349) 184,377 (46,287) Basic income (loss) per share: Weighted average common shares outstanding used in income (loss) per share 11,909,052 11,871,009 11,883,830 11,871,009 Basic income (loss) per share: Continuing operations 0.01 0.00 0.00 0.00 Discontinued operations – See Note 8 (0.00) (0.00) 0.01 (0.01) Basic income (loss) per share 0.01 (0.00) 0.02 (0.00) Diluted income (loss) per share: Shares used in diluted income (loss) per share 14,851,830 14,887,069 14,815,054 14,833,073 Diluted income (loss) per share: Continuing operations 0.01 0.00 0.00 0.00 Discontinued operations – See Note 8 (0.00) (0.00) 0.01 (0.01) Diluted income (loss) per share 0.01 (0.00) 0.01 (0.00) Computation of shares used in income (loss) per share: Weighted average shares and share equivalents outstanding – basic 11,909,052 11,871,009 11,883,830 11,871,009 Effect of preferred stock 987,102 987,102 987,102 987,102 Effect of dilutive stock options 1,727,251 1,796,778 1,716,322 1,745,847 Effect of dilutive warrants 228,425 232,180 227,800 229,115 Weighted average shares and share equivalents outstanding – diluted 14,851,830 14,887,069 14,815,054 14,833,073 Schedule of Anti-dilutive Securities Excluded Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Preferred stock - - - - Stock options 266,000 - 266,000 - Warrants - - - - Convertible promissory notes 29,256 158,444 29,256 158,444 Total anti-dilutive securities excluded 295,256 158,444 295,256 158,444 Anti-dilutive securities consist of stock options and convertible promissory notes whose exercise price or conversion price, respectively, was greater than the average market price of the common stock. |
1. UNAUDITED INTERIM FINANCIA_3
1. UNAUDITED INTERIM FINANCIAL STATEMENTS: Income (Loss) Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Earnings Per Share, Basic and Diluted | Schedule of Income (Loss) Per Share Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net income (loss): Income from continuing operations $ 100,910 $ 3,587 $ 33,046 $ 50,267 Income (loss) from discontinued operations – See Note 8 (13,825) (19,211) 166,462 (76,380) Net income (loss) $ 87,085 $ (15,624) $ 199,508 $ (26,113) Preferred stock dividends (5,044) (6,725) (15,131) (20,174) Net income (loss) available to common shareholders 82,041 (22,349) 184,377 (46,287) Basic income (loss) per share: Weighted average common shares outstanding used in income (loss) per share 11,909,052 11,871,009 11,883,830 11,871,009 Basic income (loss) per share: Continuing operations 0.01 0.00 0.00 0.00 Discontinued operations – See Note 8 (0.00) (0.00) 0.01 (0.01) Basic income (loss) per share 0.01 (0.00) 0.02 (0.00) Diluted income (loss) per share: Shares used in diluted income (loss) per share 14,851,830 14,887,069 14,815,054 14,833,073 Diluted income (loss) per share: Continuing operations 0.01 0.00 0.00 0.00 Discontinued operations – See Note 8 (0.00) (0.00) 0.01 (0.01) Diluted income (loss) per share 0.01 (0.00) 0.01 (0.00) Computation of shares used in income (loss) per share: Weighted average shares and share equivalents outstanding – basic 11,909,052 11,871,009 11,883,830 11,871,009 Effect of preferred stock 987,102 987,102 987,102 987,102 Effect of dilutive stock options 1,727,251 1,796,778 1,716,322 1,745,847 Effect of dilutive warrants 228,425 232,180 227,800 229,115 Weighted average shares and share equivalents outstanding – diluted 14,851,830 14,887,069 14,815,054 14,833,073 |
1. UNAUDITED INTERIM FINANCIA_4
1. UNAUDITED INTERIM FINANCIAL STATEMENTS: Income (Loss) Per Share: Schedule of Anti-dilutive Securities Excluded (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Anti-dilutive Securities Excluded | Schedule of Anti-dilutive Securities Excluded Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Preferred stock - - - - Stock options 266,000 - 266,000 - Warrants - - - - Convertible promissory notes 29,256 158,444 29,256 158,444 Total anti-dilutive securities excluded 295,256 158,444 295,256 158,444 |
4. STOCK BASED COMPENSATION_ Sc
4. STOCK BASED COMPENSATION: Schedule of Employee Stock Option Activity (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Employee Stock Option Activity | Schedule of Employee Stock Option Activity Options Weighted average exercise price Weighted average remaining contractual life (yrs) Aggregate Intrinsic value Options outstanding, December 31, 2017 2,110,834 $0.006 8.18 Options exercisable, December 31, 2017 626,834 $0.003 6.03 $ 22,902 Options issued during the period 2,013,000 $0.040 Options expired during the period 3,000 $0.003 Options exercised during the period 1,750,000 $0.040 Options outstanding September 30, 2018 2,370,834 $0.010 7.65 Options exercisable, September 30, 2018 1,125,167 $0.005 6.64 $ 34,590 |
4. STOCK BASED COMPENSATION_ Fa
4. STOCK BASED COMPENSATION: Fair Value Assumptions for options granted (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Fair Value Assumptions for options granted | 2018 Risk free interest rate 2.65% - 2.77% Expected lives (in years) 5 Expected volatility 163% - 178% Dividend yield 0% |
8. DISCONTINUED OPERATIONS_ Sch
8. DISCONTINUED OPERATIONS: Schedule of Assets and Consideration - Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Assets and Consideration - Discontinued Operations | Consideration: Cash $ 246,500 Assumption of deferred revenue 8,366 Waived service obligation for February 2018 10,006 Total consideration $ 264,872 Total assets sold: Customer contracts $ - Fiber innerduct 3,248 Fiber strands - Customer CPE - Total assets 3,248 Transactional costs 28,347 Total basis $ 31,595 Net gain $ 233,277 |
8. DISCONTINUED OPERATIONS_ S_2
8. DISCONTINUED OPERATIONS: Schedule of Assets and Liabilities of Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Assets and Liabilities of Discontinued Operations | Assets and Liabilities of Discontinued Operations September 30, 2018 December 31, 2017 Carrying amounts of assets included in discontinued operations Cash $ 3,442 $ 1,801 Prepaid expenses and other current assets 2,915 2,671 Property and equipment, net 14,668 24,871 Total Assets of Discontinued Operations $ 21,025 $ 29,343 Carrying amounts of liabilities included in discontinued operations Accounts payable $ 61,940 $ 57,342 Accrued and other liabilities 21,807 19,878 Convertible notes payable, related party – current portion - 116,592 Convertible notes payable, related party – less current portion - - Total Liabilities of Discontinued Operations $ 83,747 $ 193,812 |
8. DISCONTINUED OPERATIONS_ S_3
8. DISCONTINUED OPERATIONS: Schedule of Operating Results of Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Operating Results of Discontinued Operations | Operating Results of Discontinued Operations Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Revenues included in discontinued operations Total colocation and other revenues - $ 39,357 28,091 $ 115,807 Operating costs and expenses included in discontinued operations Cost of services 10,128 $ 49,227 82,674 $ 162,639 Selling, general and administrative expenses 1,379 4,069 5,226 13,285 Depreciation and amortization 2,318 2,537 6,955 7,611 Interest expense - 2,735 51 8,652 Total operating costs and expenses discontinued operations $ 13,825 $ 58,568 $ 94,906 $ 192,187 Other Income included in discontinued operations Gain on sale of assets - - 233,277 - Net Income (Loss) from Discontinued Operations $ (13,825) $ (19,211) $ 166,462 $ (76,380) Net Income (Loss) per share from discontinued operations basic $ (0.00) $ (0.00) $ 0.01 $ (0.01) Net Income (Loss) per share from discontinued operations diluted $ (0.00) $ (0.00) $ 0.01 $ (0.01) |
8. DISCONTINUED OPERATIONS_ S_4
8. DISCONTINUED OPERATIONS: Schedule of Cash Flows from Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Tables/Schedules | |
Schedule of Cash Flows from Discontinued Operations | Cash Flows from Discontinued Operations September 30, 2018 September 30, 2017 Net cash used in operating activities (36,846) (63,529) Net cash provided by investing activities 218,153 - Net cash used in financing activities (116,592) (21,054) Net cash provided by (used in) discontinued operations 64,715 (84,583) |
1. UNAUDITED INTERIM FINANCIA_5
1. UNAUDITED INTERIM FINANCIAL STATEMENTS: Income (Loss) Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Net income (loss): | |||||
Net income from continuing operations | $ 100,910 | $ 3,587 | $ 33,046 | $ 50,267 | |
Income (loss) from discontinued operations - See Note 8 | [1] | (13,825) | (19,211) | 166,462 | (76,380) |
Net Income (Loss) Attributable to Parent | 87,085 | (15,624) | 199,508 | (26,113) | |
Preferred stock dividends | (5,044) | (6,725) | (15,131) | (20,174) | |
Net income (loss) available to common stockholders | $ 82,041 | $ (22,349) | $ 184,377 | $ (46,287) | |
Basic income (loss) per share: | |||||
Weighted average shares and share equivalents outstanding - basic | 11,909,052 | 11,871,009 | 11,883,830 | 11,871,009 | |
Basic income (loss) per share: | |||||
Income (Loss) from Continuing Operations, Per Basic Share | $ 0.01 | $ 0 | $ 0 | $ 0 | |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | [1] | 0 | 0 | 0.01 | (0.01) |
Earnings Per Share, Basic | $ 0.01 | $ 0 | $ 0.02 | $ 0 | |
Diluted income (loss) per share: | |||||
Shares used in diluted income (loss) per share | 14,851,830 | 14,887,069 | 14,815,054 | 14,833,073 | |
Diluted income (loss) per share: | |||||
Income (Loss) from Continuing Operations, Per Diluted Share | $ 0.01 | $ 0 | $ 0 | $ 0 | |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | [1] | 0 | 0 | 0.01 | (0.01) |
Earnings Per Share, Diluted | $ 0.01 | $ 0 | $ 0.01 | $ 0 | |
Computation of shares used in income (loss) per share: | |||||
Weighted average shares and share equivalents outstanding - basic | 11,909,052 | 11,871,009 | 11,883,830 | 11,871,009 | |
Effect of preferred stock | $ 987,102 | $ 987,102 | $ 987,102 | $ 987,102 | |
Effect of dilutive stock options | 1,727,251 | 1,796,778 | 1,716,322 | 1,745,847 | |
Effect of dilutive warrants | $ 228,425 | $ 232,180 | $ 227,800 | $ 229,115 | |
Weighted average shares and share equivalents outstanding - diluted | 14,851,830 | 14,887,069 | 14,815,054 | 14,833,073 | |
[1] | Note 8 |
1. UNAUDITED INTERIM FINANCIA_6
1. UNAUDITED INTERIM FINANCIAL STATEMENTS: Income (Loss) Per Share: Schedule of Anti-dilutive Securities Excluded (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Details | ||||
Preferred stock | 0 | 0 | 0 | 0 |
Anti-dilutive Securities Excluded, Stock Options | 266,000 | 0 | 266,000 | 0 |
Warrants | 0 | 0 | 0 | 0 |
Anti-dilutive Securities Excluded, Convertible Promissory Notes | 29,256 | 158,444 | 29,256 | 158,444 |
Total anti-dilutive securities excluded | 295,256 | 158,444 | 295,256 | 158,444 |
2. GOING CONCERN AND MANAGEME_2
2. GOING CONCERN AND MANAGEMENT'S PLANS (Details) | Sep. 30, 2018USD ($) |
Details | |
Working Capital Deficit | $ 851,566 |
3. CONVERTIBLE NOTES PAYABLE _2
3. CONVERTIBLE NOTES PAYABLE RELATED PARTY (Details) - Convertible Note Payable - 1 - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Debt Instrument, Description | a secured convertible promissory note from a shareholder | |
Long-term Debt | $ 33,242 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |
Debt Instrument, Payment Terms | $ 600 | |
Debt Instrument, Maturity Date | May 31, 2023 | |
Debt Instrument, Collateral | secured by certain equipment of the Company | |
Debt Instrument, Convertible, Terms of Conversion Feature | The note holder has the right to convert the note, in its entirety or in part, into common stock of the Company at the rate of $1.00 per share. | |
Principal and interest payments | $ 5,403 | |
Short-term Debt, Fair Value | $ 29,256 |
4. STOCK BASED COMPENSATION_ _2
4. STOCK BASED COMPENSATION: Schedule of Employee Stock Option Activity (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2018 |
Details | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | 2,110,834 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 0.006 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 7 years 7 months 24 days | 8 years 2 months 4 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 626,834 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.003 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 6 years 7 months 20 days | 6 years 10 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 22,902 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,013,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.040 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 3,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ 0.003 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 1,750,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.040 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 2,370,834 | 2,110,834 | 2,370,834 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 0.010 | $ 0.006 | $ 0.010 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 1,125,167 | 626,834 | 1,125,167 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.005 | $ 0.003 | $ 0.005 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 34,590 | $ 22,902 | $ 34,590 |
4. STOCK BASED COMPENSATION (De
4. STOCK BASED COMPENSATION (Details) | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Details | |
Allocated Share-based Compensation Expense | $ 73,076 |
4. STOCK BASED COMPENSATION_ _3
4. STOCK BASED COMPENSATION: Fair Value Assumptions for options granted (Details) | 9 Months Ended |
Sep. 30, 2018 | |
Details | |
Risk free interest rate | 0.0265 |
Expected lives (in years) | 5 years |
Expected volatility | 1.63 |
Dividend yield | 0 |
5. SERIES A CONVERTIBLE PREFE_2
5. SERIES A CONVERTIBLE PREFERRED STOCK (Details) | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Details | |
Amortization of the increasing dividend rate preferred stock discount | $ 15,131 |
6. PROPERTY AND EQUIPMENT (Deta
6. PROPERTY AND EQUIPMENT (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | |
Details | |||
Payments to Acquire Property, Plant, and Equipment | $ 7,472 | $ 1,471 | |
Depreciation | $ 1,984 | $ 6,051 |
7. INTANGIBLE ASSET (Details)
7. INTANGIBLE ASSET (Details) - USD ($) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018 | Sep. 30, 2018 | |
Details | ||
Amortization of Intangible Assets | $ 2,208 | $ 6,625 |
8. DISCONTINUED OPERATIONS (Det
8. DISCONTINUED OPERATIONS (Details) | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Details | |
Discontinued operations, gain on sale | $ 233,277 |
Total consideration | 264,872 |
Discontinued Operations, total basis in the assets sold and transactions costs | $ 31,595 |
8. DISCONTINUED OPERATIONS_ S_5
8. DISCONTINUED OPERATIONS: Schedule of Assets and Consideration - Discontinued Operations (Details) | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Consideration | |
Cash | $ 246,500 |
Assumption of deferred revenue | 8,366 |
Waived service obligation for February 2018 | 10,006 |
Total consideration | 264,872 |
Total assets sold | |
Customer contracts | 0 |
Fiber innerduct | 3,248 |
Fiber strands | 0 |
Customer CPE | 0 |
Total assets | 3,248 |
Transactional costs | 28,347 |
Total basis | 31,595 |
Net gain | $ 233,277 |
8. DISCONTINUED OPERATIONS_ S_6
8. DISCONTINUED OPERATIONS: Schedule of Assets and Liabilities of Discontinued Operations (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Carrying amounts of assets included in discontinued operations | ||
Cash | $ 3,442 | $ 1,801 |
Prepaid expenses and other current assets | 2,915 | 2,671 |
Property and equipment, net | 14,668 | 24,871 |
Total Assets of Discontinued Operations | 21,025 | 29,343 |
Carrying amounts of liabilities included in discontinued operations | ||
Accounts payable | 61,940 | 57,342 |
Accrued and other liabilities | 21,807 | 19,878 |
Convertible notes payable, related party - current portion | 0 | 116,592 |
Convertible notes payable, related party - less current portion | 0 | 0 |
Total Liabilities of Discontinued Operations | $ 83,747 | $ 193,812 |
8. DISCONTINUED OPERATIONS_ S_7
8. DISCONTINUED OPERATIONS: Schedule of Operating Results of Discontinued Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues included in discontinued operations | ||||
Total colocation and other revenues | $ 0 | $ 39,357 | $ 28,091 | $ 115,807 |
Operating costs and expenses included in discontinued operations | ||||
Cost of services | 10,128 | 49,227 | 82,674 | 162,639 |
Selling, general and administrative expenses | 1,379 | 4,069 | 5,226 | 13,285 |
Depreciation and amortization | 2,318 | 2,537 | 6,955 | 7,611 |
Interest expense | 0 | 2,735 | 51 | 8,652 |
Total operating costs and expenses included in discontinued operations | 13,825 | 58,568 | 94,906 | 192,187 |
Other Income included in discontinued operations | ||||
Gain on sale of assets | 0 | 0 | 233,277 | 0 |
Net Income (Loss) from Discontinued Operations | $ (13,825) | $ (19,211) | $ 166,462 | $ (76,380) |
Net Income (Loss) per share from discontinued operations basic | $ 0 | $ 0 | $ 0.01 | $ (0.01) |
Net Income (Loss) per share from discontinued operations diluted | $ 0 | $ 0 | $ 0.01 | $ (0.01) |
8. DISCONTINUED OPERATIONS_ S_8
8. DISCONTINUED OPERATIONS: Schedule of Cash Flows from Discontinued Operations (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Details | ||
Net cash used in operating activities | $ (36,846) | $ (63,529) |
Net cash provided by investing activities | 218,153 | 0 |
Net cash used in financing activities | (116,592) | (21,054) |
Net cash provided by (used in) discontinued operations | $ 64,715 | $ (84,583) |