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

9 Months Ended

Sep. 30, 2017

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

	September, 2017		December 31, 2016

Accounts receivable, net	$	—	$	841,800
Property and equipment, net		—		156,200
Other		—		26,600
Total Assets held for sale	$	—	$	1,024,600

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 three months ending September 30,				For the nine months ending September 30,
	2017		2016		2017			2016

Services revenue	$	757,100	$	877,800	$	4,082,200		$	2,854,100

Services costs		489,800		714,500		3,070,200			2,144,500
General and administrative expenses		23,000		35,400		117,800			118,400
Salaries and related expenses		27,700		70,400		208,900			192,300
Other (income) expense		1,200		300		(8,400	)		1,300
Total expenses		541,700		820,600		3,388,500			2,456,500

Operating income		215,400		57,200		693,700			397,600
Income tax benefit		—		—		—			—

Total income from discontinued operations	$	215,400	$	57,200	$	693,700		$	397,600

Total gain on disposal of rail operations:

	September 30, 2017

Consideration from sale	$	2,400,000
Net present value of future consideration		961,500
Carrying value of net assets*		(574,100	)
Gross gain on disposal		2,787,400
Additional costs on disposal
Commissions		(96,000	)
Accounting		(18,500	)
		(114,500	)
Total gain on sale of rail operations	$	2,672,900