• Filing Date: 2021-03-31
  • Form Type: 10-K
  • Description: Annual report
v3.21.1
Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations

The following tables show the major classes of assets and liabilities held for sale and results of operations of the discontinued operation.

 

DOCUMENT SECURITY SYSTEMS, INC. AND SUBSIDIARIES

Consolidated Balance Sheets– Assets and Liabilities Held for Sale

 

    December 31,     December 31,  
    2020     2019  
             
ASSETS                
Current assets:                
Inventory   $ -     $ 342,000  
Total current assets     -       342,000  
                 
Property, plant and equipment, net     -       732,000  
Right-of-use assets     744,000       1,081,000  
                 
LIABILITIES                
                 
Current liabilities:                
Current portion of lease liability     240,000       274,000  
Total current liabilities     240,000       274,000  
                 
Long term lease liability     505,000       807,000  

 

DOCUMENT SECURITY SYSTEMS, INC. AND SUBSIDIARIES

Consolidated Statements of Operations - Discontinued Operations

 

    For the Year Ended  
    December 31,  
    2020     2019  
Revenue:                
Printed products   $ 1,602,000     $ 3,860,000  
Total revenue     1,602,000       3,860,000  
                 
Costs and expenses:                
Cost of revenue, exclusive of depreciation and amortization     1,636,000       2,260,000  
Selling, general and administrative (including stock based compensation)     1,054,000       1,609,000  
Depreciation and amortization     152,000       254,000  
Impairment of goodwill     685,000       -  
Total costs and expenses     3,527,000       4,123,000  
Operating loss     (1,925,000 )     (263,000 )
                 
Other income (expense):                
                 
Interest expense     (22,000 )     (32,000 )
                 
Gain on disposition of business     279,000        
                 
Income (loss) before income taxes     (1,668,000 )     (295,000 )
                 
Income tax expense (benefit)     -       -  
Income (loss) from discontinued operations     (1,668,000 )     (295,000 )