Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS

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DISCONTINUED OPERATIONS
 9 Months Ended
Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS

3.          DISCONTINUED OPERATIONS

 

On September 30, 2012 the Company discontinued its Clinical Services Operation at its wholly-owned subsidiary, NTC, because the operation had persistent losses which could no longer be supported by the Company. Furthermore, the Company chose to focus its limited cash resources to conduct its Walter Reed PEER Trial.

 

   

Summary Financial Data of Discontinued Operations:

 

Revenues, income before income taxes and net loss of NTC which are included in discontinued operations are as follows:

  

    Three Months ended
June 30,		  
    2015     2014  
Neuro-Therapy Clinic                
Revenues   $ -     $ -  
Expenses     700       1,100  
Operating Loss before taxes   $ (700 )   $ (1,100 )
Taxes     -       -  
Net Loss   $ (700 )   $ (1,100 )

 

    Nine Months ended
June 30,		  
    2015     2014  
Neuro-Therapy Clinic                
Revenues   $ -     $ -  
Expenses     2,500       4,400  
Operating Loss before taxes   $ (2,500 )   $ (4,400 )
Taxes     -       -  
Net Loss   $ (2,500 )   $ (4,400 )

 

The assets and liabilities of NTC are as follows:

 

    (Unaudited)
June 30,		     September
30,		  
    2015     2014  
ASSETS:                
Assets of Discontinued Operations   $ -     $ -  
                 
LIABILITIES:                
Accounts Payable   $ 86,600     $ 86,600  
Accrued Payroll Liabilities     61,300       90,600  
Liabilities of Discontinued Operations   $ 147,900     $ 177,200