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General form of registration statement for all companies including face-amount certificate companies

Nature of Operations and Going Concern (from 10Q) (Tables)

v2.4.0.8
Nature of Operations and Going Concern (from 10Q) (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2013
Dec. 31, 2012
Nature Of Operations And Going Concern Tables    
Discontinued Operations

The following table shows the results of the "Smart Home Integration Certificate" program component included in the income (loss) from discontinued operations:


                 

 

 

For the Three Months Ended

March 31,

 

 

 

2013

 

 

2012

 

Revenues

 

$

123,357

 

 

$

811,041

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

Instructional costs and services

 

 

111,021

 

 

 

683,895

 

General and administrative

 

 

31,000

 

 

 

-

 

Total costs and expenses

 

 

142,021

 

 

 

683,895

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations, net of income taxes

 

$

(18,664

)

 

$

127,146

 


The major classes of assets and liabilities of discontinued operations on the balance sheets are as follows:


                 

 

 

March 31,

2013

 

 

December 31,

2012

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

-

 

 

$

67,750

 

Accounts receivable, net of allowance of $200,045 and $169,045, respectively

 

 

171,831

 

 

 

322,026

 

Other current assets

 

 

11,916

 

 

 

3,438

 

Net assets from discontinued operations

 

$

183,747

 

 

$

393,214

 

Liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,178

 

 

$

1,178

 

Accrued expenses

 

 

123,954

 

 

 

185,395

 

Deferred revenue

 

 

-

 

 

 

39,857

 

Net liabilities from discontinued operations

 

$

125,132

 

 

$

226,430

 


The following table shows the results of the "Smart Home Integration Certificate" program component included in the income from discontinued operations:


                 

 

 

For the Year Ended

 

 

 

December 31,

 

 

 

2012

 

 

2011

 

 

 

 

 

 

 

 

Revenues

 

$

2,332,283

 

 

$

2,131,693

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

Instructional costs and services

 

 

2,026,928

 

 

 

1,674,127

 

General and administrative

 

 

169,045

 

 

 

-

 

Total costs and expenses

 

 

2,195,973

 

 

 

1,674,127

 

 

 

 

 

 

 

 

 

 

Income from discontinued operations, net of income taxes

 

$

136,310

 

 

$

457,566

 


The major classes of assets and liabilities of discontinued operations on the balance sheets are as follows:


                 

 

 

December 31,

 

 

 

2012

 

 

2011

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

67,750

 

 

$

-

 

Accounts receivable, net of allowance of $169,045 and $0, respectively

 

 

322,026

 

 

 

632,135

 

Other current assets

 

 

3,438

 

 

 

-

 

Net assets from discontinued operations

 

$

393,214

 

 

$

632,135

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,178

 

 

$

679,882

 

Accrued expenses

 

 

185,395

 

 

 

39,225

 

Deferred revenue

 

 

39,857

 

 

 

-

 

Net liabilities from discontinued operations

 

$

226,430

 

 

$

719,107