| Discontinued Operations |
The following table shows the results
of the “Smart Home Integration Certificate” program component included in the income (loss) from discontinued operations:
| |
|
For the Three
Months Ended
March 31,
2013
|
|
|
For the Three
Months Ended
March 31,
2012
|
|
| Revenues |
|
$ |
123,357 |
|
|
$ |
811,041 |
|
| |
|
|
|
|
|
|
|
|
| Costs and expenses: |
|
|
|
|
|
|
|
|
| Instructional costs and services |
|
|
111,021 |
|
|
|
683,895 |
|
| General and administrative |
|
|
31,000 |
|
|
|
- |
|
| Total costs and expenses |
|
|
142,021 |
|
|
|
683,895 |
|
| |
|
|
|
|
|
|
|
|
| Income (loss) from discontinued operations, net of income taxes |
|
$ |
(18,664 |
) |
|
$ |
127,146 |
|
The major classes of assets and liabilities
of discontinued operations on the balance sheets are as follows:
| |
|
March 31,
2013
|
|
|
December 31,
2012
|
|
| Assets |
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
- |
|
|
$ |
67,750 |
|
| Accounts receivable, net of allowance of $200,045 and $169,045, respectively |
|
|
171,831 |
|
|
|
322,026 |
|
| Other current assets |
|
|
11,916 |
|
|
|
3,438 |
|
| Net assets from discontinued operations |
|
$ |
183,747 |
|
|
$ |
393,214 |
|
| Liabilities |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
1,178 |
|
|
$ |
1,178 |
|
| Accrued expenses |
|
|
123,954 |
|
|
|
185,395 |
|
| Deferred revenue |
|
|
- |
|
|
|
39,857 |
|
| Net liabilities from discontinued operations |
|
$ |
125,132 |
|
|
$ |
226,430 |
|
|