Sale of Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of summarized operating results for discontinued operations

The summarized operating results for discontinued operations is as follows:

	Three Months Ended March 31, 2015		Three Months Ended March 31, 2014
Revenues	$	—	$	1,187,773
Cost of revenues		—		(911,589	)
Selling, general and administrative		—		(490,268	)
Impairment of assets		—		—
Total costs and expenses		—		(7,434,225	)
Operating loss		—		(326,493	)
Other income (expenses):
Interest income		—		—
Interest expense		—		(38,463	)
Income tax expense		—		(1,374	)
Other expense		—		(6,975	)
Total other expenses		—		(46,812	)
Loss from discontinued operations	$	—	$	(260,896	)

Schedule of summary of assets and liabilities of discontinued operations

Summary of assets and liabilities of discontinued operations is as follows:

	March 31, 2015		December 31, 2014
Current assets
Cash and cash equivalents	$	—	$	52,295
Accounts receivable, net		—		531,604
Inventories, net		—		1,473,363
Other current assets		—		39,579
Total current assets of discontinued operations	$	—	$	2,096,841

Non-current assets
Property and equipment, net	$	—	$	10,113
Patents, trademarks and tooling, net		—		144,283
Goodwill		—		254,798
Total non-current assets of discontinued operations	$	—	$	409,194

Current liabilities
Accounts payable and accrued expenses	$	—	$	492,395
Total current liabilities of discontinued operations	$	—	$	492,395

Long-term liabilities
Long-term debt	$	—		1,512,542
Deferred revenue		—		464,798
Other		—		36,300
Total long-term liabilities of discontinued operations	$	—	$	2,013,640

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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+ Details

AMERICAN INTERNATIONAL INDUSTRIES INC 10-Q