| Schedule of Assets and Liabilities of the Discontinued Group |
The following table presents the major classes of assets
and liabilities of the Discontinued Group:
| |
|
As of
September 30, |
|
|
As of
December 30, |
|
| |
|
2023 |
|
|
2022 |
|
| Cash and restricted cash |
|
$ |
— |
|
|
$ |
305,500 |
|
| Accounts receivable, net |
|
|
— |
|
|
|
112,444 |
|
| Prepaid expenses & other current assets |
|
|
— |
|
|
|
578,393 |
|
| Fixed assets |
|
|
— |
|
|
|
63,764 |
|
| Capitalized software, net |
|
|
— |
|
|
|
828,555 |
|
| Intangible assets, net |
|
|
— |
|
|
|
3,241,372 |
|
| Total assets held for sale |
|
$ |
— |
|
|
$ |
5,130,028 |
|
| |
|
|
|
|
|
|
|
|
| Accounts payable, accrued expenses and other current liabilities |
|
$ |
— |
|
|
$ |
1,034,426 |
|
| Deferred revenue |
|
|
— |
|
|
|
994,713 |
|
| Deferred revenue, noncurrent |
|
|
— |
|
|
|
217,083 |
|
| Total liabilities held for sale |
|
$ |
— |
|
|
$ |
2,246,222 |
|
|
| Schedule of Operations of the Discontinued Group |
The following table summarizes the results of operations
of the Discontinued Group:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Revenue |
|
$ |
— |
|
|
$ |
2,348,423 |
|
|
$ |
214,346 |
|
|
$ |
7,650,389 |
|
| Cost of revenue |
|
|
— |
|
|
|
575,076 |
|
|
|
10,119 |
|
|
|
1,916,454 |
|
| Gross profit |
|
|
— |
|
|
|
1,773,347 |
|
|
|
204,227 |
|
|
|
5,733,935 |
|
| Product development |
|
|
— |
|
|
|
414,948 |
|
|
|
117,500 |
|
|
|
1,290,618 |
|
| Sales and marketing |
|
|
— |
|
|
|
928,221 |
|
|
|
171,753 |
|
|
|
3,319428 |
|
| General and administrative |
|
|
— |
|
|
|
(3,006,140 |
) |
|
|
4,032 |
|
|
|
(2,596,946 |
) |
| Depreciation and amortization |
|
|
— |
|
|
|
567,259 |
|
|
|
24,507 |
|
|
|
1,619,478 |
|
| Impairment of long-lived assets |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,037,642 |
|
| Other expense (income), net |
|
|
— |
|
|
|
849 |
|
|
|
1,833 |
|
|
|
(304,526 |
) |
| Gain (loss) from discontinued operations before income taxes |
|
|
— |
|
|
|
2,869,908 |
|
|
|
(115,398 |
) |
|
|
(7,240,811 |
) |
| Income tax benefit |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Gain (loss) from discontinued operations, net of tax |
|
|
— |
|
|
|
2,869,908 |
|
|
|
(115,398 |
) |
|
|
(7,240,811 |
) |
| Gain on sale of discontinued operations, net of tax |
|
|
— |
|
|
|
— |
|
|
|
212,601 |
|
|
|
— |
|
| Net gain (loss) from discontinued operations, net of tax |
|
$ |
— |
|
|
$ |
2,869,908 |
|
|
$ |
97,203 |
|
|
$ |
(7,720,811 |
) |
|