Annual report pursuant to Section 13 and 15(d)

Discontinued Operations (Tables)

v3.21.1
Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Discontinued Operations Tables Abstract  
Summary of Assets and Liabilities of Discontinued Operations

The assets and liabilities of our discontinued digital media operations as of December 31, 2020 and December 31, 2019 were as follows:

 

    December 31, 2020   December 31, 2019
Assets:                
Accounts receivable, net   $ 13,000     $ 27,000  
Capitalized gaming assets and licensing rights, net     75,000       100,000  
Total Assets   $ 88,000     $ 127,000  
                 
Liabilities:                
Accounts payable and accrued liabilities   $ 745,000     $ 693,000  
Total Liabilities   $ 745,000     $ 693,000  

 

Summary of Results of Operations of Discontinued Operations

The results of operations of our discontinued digital media operations for the years ended December 31, 2020 and 2019, included in the consolidated statements of operations as discontinued operations, consisted of the following:

 

    Year ended   Year ended
    December 31,   December 31,
    2020   2019
Revenues:   $ 4,000     $ 51,000  
                 
Expenses                
  Labor and related expenses     8,000       193,000  
  Rent     —         1,000  
  Depreciation and amortization     —         24,000  
  Professional fees     —         2,000  
  Research and Development     —         (34,000 )
  Other general and administrative     34,000       71,000  
    Total operating expenses     42,000       257,000  
    Operating loss     (38,000 )     (206,000 )
                 
Other income (expense)                
  Interest expense     (52,000 )     (40,000 )
  Gain on disposition of assets     5,000       —    
  Write down of assets     (25,000 )     —    
Loss on discontinued operations   $ (110,000 )   $ (246,000 )