Quarterly report pursuant to Section 13 or 15(d)

16. Discontinued Operations (Tables)

16. Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2013

Results for discontinued operations for the six months ended June 30, 2013 and 2012 are as follows:

	2013		2012
China Youth Media, Inc.	$	-	$	1,791
Youth Media (Hong Kong)		-		-
Youth Media (Beijing)		-		(823	)
Net loss from discontinued operations	$	-	$	968

Assets and liabilities of discontinued operations

Assets and liabilities of discontinued operations were comprised of the following at June 30, 2013 and December 31, 2012:

	2013		2012
Accounts payable and accrued expenses	$	262,032	$	262,032
Related party note payable		-		169,984
Convertible note payable		50,000		50,000
Total liabilities	$	312,032	$	482,016

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details