Annual report pursuant to Section 13 and 15(d)

HELD-FOR-SALE (Tables)

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HELD-FOR-SALE (Tables)
 12 Months Ended
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Held for Sale
The pre-tax profit from the disposal group held for sale is summarized in the table below for each period the statement of operations is presented:
For the Year Ended
December 31, 2023 December 31, 2022
Pre-tax profit(1)
$ 1,549,567  $ 4,570,194 
Allocated interest related to the sale to repay the Crimson Credit Facility 10,494,076  6,335,303 
(1) The Company was contractually obligated to use the proceeds from the anticipated sale to repay the Crimson Credit Facility. As such, the aforementioned pre-tax profit includes allocated interest related to the sale and repayment of the Crimson Credit Facility.
Held-for-Sale Balance Sheet
December 31, 2023
Assets (Unaudited)
Property and equipment, net of accumulated depreciation of $30,077,502
$ 99,230,819 
Leased property, net of accumulated depreciation of $309,778
1,216,249 
Cash and cash equivalents 225,000 
Accounts and other receivables 3,058,685 
Inventory 146,042 
Prepaid expenses and other assets 1,245,876 
Operating right-of-use assets 107,925 
Total Assets $ 105,230,596 
Liabilities
Accounts payable and other accrued liabilities 638,187 
Operating lease liability 27,792 
Deferred tax liability, net(1)
631,480 
Unearned revenue 4,671,762 
Total Liabilities $ 5,969,221 
(1) The deferred tax assets and liabilities are recorded within certain parent entities that are not part of the disposal group, however, because the balances were generated from the operations of the disposal group, the Company has included them net within liabilities held-for-sale on the Consolidated Balance Sheet.