Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS

v3.3.1.900
DISCONTINUED OPERATIONS
 3 Months Ended
Dec. 31, 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 clinical 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
December 31,		  
    2015     2014  
Neuro-Therapy Clinic                
Revenues   $ —     $ —  
Expenses     1,800       900  
Operating gain (loss) before taxes   $ (1,800 )   $ (900 )
Taxes     —       —  
Net gain (loss)   $ (1,800 )   $ (900 )

 

The assets and liabilities of NTC are as follows:

 

    (Unaudited)
December 31,		     September 30,  
    2015     2015  
ASSETS:                
Assets of discontinued operations   $ —     $ —  
                 
LIABILITIES:                
Accrued liabilities     127,400       129,000  
Liabilities of discontinued operations   $ 127,400     $ 129,000