|3 Months Ended|
Mar. 31, 2017
|Discontinued Operations and Disposal Groups [Abstract]|
4. DISCONTINUED OPERATIONS
On November 29, 2016, the Company’s Board of Directors determined that it was in the Company’s best interest to close down CAP and the Company ceased its broker-dealer operations on December 31, 2016. On February 21, 2017, the Company’s request to FINRA for Broker-Dealer Withdrawal (“BDW”) became effective.
Results of Discontinued Operations
Summarized operating results of discontinued operations are presented in the following table:
Revenues from discontinued operations for the three months ended March 31, 2016 includes non-cash warrant revenues from affiliates of $20,812, as well as unrealized losses on affiliate warrants of $24,098.
Operating expenses from discontinued operations includes non-cash warrant and stock compensation totaling, in the aggregate, $4,868 and $108,874 for the three months ended March 31, 2017 and 2016, respectively.
Summarized assets and liabilities of discontinued operations are presented in the following table:
The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.
Reference 1: http://www.xbrl.org/2003/role/presentationRef