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Transition report pursuant to Rule 13a-10 or 15d-10

Nature of Operations and Going Concern (Tables)

v2.4.0.8
Nature of Operations and Going Concern (Tables)
4 Months Ended
Apr. 30, 2013
Nature Of Operations And Going Concern Tables [Abstract]  
Acquisition costs

The net purchase price, including acquisition costs paid, was allocated to assets acquired and liabilities assumed as follows:


         

Current assets (including cash of $3,200)

 

$

3,200

 

Intangible assets

 

 

-

 

Liabilities assumed

 

 

-

 

Net purchase price

 

$

3,200

 


Schedule of income from discontinued operations

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


                                 

 

 

For the Four Months Ended

 

 

For the Year Ended

 

 

 

April 30,

 

 

December 31,

 

 

 

2013

 

 

2012

 

 

2012

 

 

2011

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

140,732

 

 

$

1,077,875

 

 

$

2,332,283

 

 

$

2,131,693

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues

 

 

126,659

 

 

 

929,362

 

 

 

2,026,928

 

 

 

1,674,127

 

General and administrative

 

 

126,000

 

 

 

-

 

 

 

169,045

 

 

 

-

 

Total costs and expenses

 

 

252,659

 

 

 

929,362

 

 

 

2,195,973

 

 

 

1,674,127

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(111,927

)

 

$

148,513

 

 

$

136,310

 

 

$

457,566

 


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


                         

 

 

April 30,

 

 

December 31,

 

 

 

2013

 

 

2012

 

 

2011

 

Assets

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

-

 

 

$

67,750

 

 

$

-

 

Accounts receivable, net of allowance of $295,045, $169,045 and $0, respectively

 

 

113,822

 

 

 

322,026

 

 

 

632,135

 

Other current assets

 

 

-

 

 

 

3,438

 

 

 

-

 

Net assets from discontinued operations

 

$

113,822

 

 

$

393,214

 

 

$

632,135

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,178

 

 

$

1,178

 

 

$

679,882

 

Accrued expenses

 

 

70,201

 

 

 

185,395

 

 

 

39,225

 

Deferred revenue

 

 

53,125

 

 

 

39,857

 

 

 

-

 

Net liabilities from discontinued operations

 

$

124,504

 

 

$

226,430

 

 

$

719,107