ASSETS AND LIABILITIES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2017

Assets and liabilities held for sale were comprised of the following:

Accounts payable	$	—	$	513,500
Accrued expenses and other		—		89,600
Total Liabilities held for sale	$	—	$	603,100

Major classes of line items constituting pretax loss on discontinued operations:

	For the year ending December 31,
	2017			2016

Services revenue	$	4,082,200		$	4,029,700

Services costs		3,070,200			3,146,500
General and administrative expenses		117,800			203,200
Salaries and related expenses		208,900			253,300
Other (income) expense		(9,000	)		3,400
Total expenses		3,387,900			3,606,400

Operating income		694,300			423,300
Income tax benefit		—			—

Total income from discontinued operations	$	694,300		$	423,300

Total gain on disposal of rail operations:

	July 31, 2017

Consideration from sale	$	2,641,000
Net present value of future consideration		824,000
Carrying value of net assets*		(653,600	)
Gross gain on disposal		2,811,400
Closing costs		(116,100	)
Total gain on sale of rail operations	$	2,695,300

*Carrying value of net assets

Accounts receivable, net	$	1,130,500
Property and equipment, net		177,200
Other		60,200
Total Assets	$	1,367,900

Accounts payable	$	678,600
Accrued expenses and other		35,700
Total Liabilities	$	642,900
Carrying value of net assets	$	653,600