ABANDONMENT OF SUBSIDIARY
|3 Months Ended|
Mar. 31, 2022
|Discontinued Operations and Disposal Groups [Abstract]|
|ABANDONMENT OF SUBSIDIARY||
NOTE 15 – ABANDONMENT OF SUBSIDIARY
On September 1, 2021, the Company’s board of directors, by unanimous consent, adopted a resolution to abandon the Company’s wholly owned subsidiary, REGS, LLC. The abandonment resulted in a gain to the Company of approximately $1.5 million for the year ended December 31, 2021. For the three months ended March 31, 2021, all operations from REGS have been reported as discontinued operations.
Major classes of line items constituting pretax income on discontinued operations:
SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS
The entire disclosure 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.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef