Quarterly report pursuant to sections 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v2.4.0.8
DISCONTINUED OPERATIONS (Tables)
9 Months Ended
Sep. 30, 2013
Accounting Policies [Abstract]  
Schedule of Assets And Liabilities

 

    September 30,
2013
  December 31,
2012
Assets:                
Prepaid expenses – current portion   $ —       $ —    
Deposits in real estate under contract     —         82,145  
Deposit     —         —    
Real estate held for sale     —         1,035,570  
Assets of discontinued operations   $ —       $ 1,117,715  
                 

 

Liabilities:                
Accounts payables and accrued expenses   $ 30,664     $ 30,664  
Liabilities of discontinued operations   $ 30,664     $ 30,664  

 

Schedule of Discontinued Operations

 

   
For the Three Months ended September 30, 2013
   
For the Three Months ended September 30, 2012
   
For the Nine Months ended September 30, 2013
   
For the Nine Months ended September 30, 2012
 
Revenues – real estate
 
$
-
   
$
-
   
$
1,270,916
   
$
-
 
Cost of sales – real estate
   
-
     
-
     
(1,064,320
   
-
 
Gross profit
   
-
     
-
     
206,596
     
-
 
Operating and other non-operating expenses
   
(23,009
)
   
(96,921
)
   
(111,352
)
   
(1,426,846
Gain on sale of assets of discontinued operations
   
168,216
     
-
     
168,216
     
-
 
                                 
Income (loss) from discontinued operations
 
$
145,207
   
$
(96,921
)
 
$
263,460
   
$
(1,426,846
)