NextPlat Corp Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

Carrying amounts of major classes of liabilities for discontinued operations

	December 31,		December 31,
	December 31,		December 31,
	2012		2011
Assets of discontinued operations	$	-	$	-
Liabilities
Accounts payables and accrued expenses	$	(112,397)	$	(112,397)
Liabilities of discontinued operations	$	112,397	$	112,397

Derivative liabilities at fair value

	Conversion feature		Warrant liability		Total
	derivative liability		Warrant liability		Total
Balance at January 1, 2012	$	—	$	—	$	—
Recognition of derivative liability		103,313		108,316		211,629
Extinguishment of derivative liability upon conversion of debt to equity		—		—		—
Change in fair value included in earnings		(88,317)		(72,424)		(160,740)
Balance at December 31, 2012	$	14,996	$	35,892	$	50,888

- 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.

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