Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.21.1
Discontinued Operations (Tables)
3 Months Ended
Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of discontinued operations
    For the Three Months Ended  
    March 31,  
    2021     2020  
             
Revenues   $ 5,334,010     $ 4,987,312  
Operating costs and expenses     4,386,493       4,715,266  
Income from operations     947,517       272,046  
Other income     689,525       2,743  
Net income from discontinued operations, before tax     1,637,042       274,789  
Income tax    
-
     
-
 
Income from discontinued operations, net of tax provision   $ 1,637,042     $ 274,789  

 

    March 31,     December 31,  
    2021     2020  
Assets            
Cash   $ 2,917,217     $ 3,633,292  
Accounts receivable     2,009,129       1,804,627  
Prepaid expenses and other assets     255,843       289,968  
Property and equipment, net     1,554,769       1,674,355  
Goodwill     4,083,621       4,083,621  
Intangible assets, net     11,690,264       12,305,887  
Deposits     79,500       79,500  
Deferred production costs     12,727,543       12,058,592  
Due from affiliates     11,968,377       9,433,975  
Current assets held for sale   $ 47,286,263     $ 45,363,817  
                 
Liabilities                
Accounts payable   $ 504,801     $ 211,228  
Accrued expenses and other liabilities     3,858,076       3,804,301  
Accrued interest    
-
      4,224  
Deferred revenue     2,278,172       1,970,668  
Deferred rent     2,607,416       2,493,526  
Loans payable    
-
      685,300  
Current liabilities held for sale   $ 9,248,465     $ 9,169,247