Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED SEM OPERATIONS

DISCONTINUED SEM OPERATIONS

3 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

NOTE 15 – DISCONTINUED SEM OPERATIONS

On March 31, 2023, the Company’s board of directors, by unanimous consent, adopted a resolution to discontinue operations of the Company’s wholly owned subsidiary, SEM, LLC. For the unaudited three months ended March 31, 2023 and March 31, 2022, all operations from SEMS have been reported as discontinued operations.

The following table presents the assets and liabilities associated with the discontinued operations of SEM:

SCHEDULE OF DISCONTINUED OPERATIONS

	March 31,		December 31,
	2023		2022
	(unaudited)		*
ASSETS

Property and equipment, net	$	217,200	$	217,200

Total assets held for sale	$	217,200	$	217,200

LIABILITIES

Current Liabilities
Accounts payable	$	36,100	$	40,900
Accrued liabilities		12,400		10,000
Current portion of long-term debt		25,400		25,400
Total Current Liabilities		73,900		76,300

Long term debt		2,500		9,200
Total liabilities held for sale	$	76,400	$	85,500

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

	2023			2022
	For the three months ended
	March 31,
	2023			2022

Services revenue	$	-		$	103,900

Services costs		(6,400	)		(101,900	)
General and administrative expenses		(4,800	)		(9,900	)
Salaries and related expenses		-			(12,300	)
Other expense		(500	)		(1,100	)
Total expenses		(11,700	)		(125,200	)

Operating loss		(11,700	)		(21,300	)
Income tax benefit		-			-

Total Loss from discontinued operations	$	(11,700	)	$	(21,300	)