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CBA Florida, Inc. – ‘10-K’ for 12/31/19 – ‘EX-101.INS’

On:  Wednesday, 3/25/20, at 4:31pm ET   ·   For:  12/31/19   ·   Accession #:  1654954-20-3226   ·   File #:  0-50746

Previous ‘10-K’:  ‘10-K’ on 4/1/19 for 12/31/18   ·   Latest ‘10-K’:  This Filing

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/25/20  CBA Florida, Inc.                 10-K       12/31/19   48:2.5M                                   Blueprint/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    374K 
 2: EX-31.1     Certification of the Registrants Chief Executive    HTML     22K 
                Officer and Chief Financial Officer Pursuant to                  
                Section 302 of the Sarbanes-Oxley Act of 2002                    
 3: EX-32.1     Certification of the Companys Chief Executive       HTML     18K 
                Officer and Chief Financial Officer Pursuant to 18               
                U.S.C. Section 1350 as Adopted Pursuant to Section               
                906 of the Sarbanes-Oxley Act of 2002.                           
28: R1          Document and Entity Information                     HTML     55K 
44: R2          Consolidated Balance Sheets                         HTML     84K 
38: R3          Consolidated Balance Sheets (Parenthetical)         HTML     42K 
14: R4          Consolidated Statements of Operations and           HTML     83K 
                Comprehensive Income (Loss) (Audited)                            
27: R5          Consolidated Statement of Changes in Stockholders'  HTML     27K 
                Deficit                                                          
43: R6          Consolidated Statements of Cash Flows (Audited)     HTML     87K 
37: R7          1. Organization and Description of Business         HTML     34K 
15: R8          2. Summary of Significant Accounting Policies       HTML     51K 
26: R9          3. Discontinued Operations - Cord Blood and Cord    HTML     39K 
                Tissue Stem Cell Storage Operations                              
12: R10         4. Property and Equipment                           HTML     31K 
23: R11         5. Commitments and Contingencies                    HTML     25K 
39: R12         6. Share Based Compensation                         HTML     31K 
33: R13         7. Income Tax                                       HTML     63K 
13: R14         8. Other                                            HTML     25K 
24: R15         9. Tax Estimates and Tax Expense                    HTML     17K 
40: R16         10. Stockholder's Equity                            HTML     20K 
34: R17         11. Subsequent Events                               HTML     21K 
11: R18         2. Summary of Significant Accounting Policies       HTML    108K 
                (Policies)                                                       
25: R19         3. Discontinued Operations - Cord Blood and Cord    HTML     35K 
                Tissue Stem Cell Storage Operations (Tables)                     
46: R20         4. Property And Equipment (Tables)                  HTML     31K 
31: R21         6. Share Based Compensation (Tables)                HTML     32K 
16: R22         7. Income Tax (Tables)                              HTML     52K 
19: R23         2. Summary of Significant Accounting Policies       HTML     20K 
                (Details Narrative)                                              
47: R24         3. Discontinued Operations - Cord Blood and Cord    HTML     46K 
                Tissue Stem Cell Storage Operations (Details)                    
32: R25         3. Discontinued Operations - Cord Blood and Cord    HTML     33K 
                Tissue Stem Cell Storage Operations (Details 1)                  
17: R26         3. Discontinued Operations - Cord Blood and Cord    HTML     52K 
                Tissue Stem Cell Storage Operations (Details 2)                  
20: R27         4. Property and Equipment (Details)                 HTML     55K 
48: R28         4. Property and Equipment (Details Narrative)       HTML     20K 
30: R29         5. Commitments and Contingencies (Details           HTML     18K 
                Narrative)                                                       
36: R30         6. Share Based Compensation (Details)               HTML     50K 
42: R31         6. Share Based Compensation (Details 1)             HTML     33K 
22: R32         7. Income Tax (Details)                             HTML     26K 
10: R33         7. Income Tax (Details 1)                           HTML     29K 
35: R34         7. Income Tax (Details 2)                           HTML     42K 
41: R35         7. Income Tax (Details 3)                           HTML     28K 
21: R36         10. Stockholders Equity (Details Narrative)         HTML     26K 
29: XML         IDEA XML File -- Filing Summary                      XML     84K 
45: EXCEL       IDEA Workbook of Financial Reports                  XLSX     53K 
 4: EX-101.INS  XBRL Instance -- cbai-20191231                       XML    565K 
 6: EX-101.CAL  XBRL Calculations -- cbai-20191231_cal               XML     79K 
 7: EX-101.DEF  XBRL Definitions -- cbai-20191231_def                XML     97K 
 8: EX-101.LAB  XBRL Labels -- cbai-20191231_lab                     XML    469K 
 9: EX-101.PRE  XBRL Presentations -- cbai-20191231_pre              XML    352K 
 5: EX-101.SCH  XBRL Schema -- cbai-20191231                         XSD     81K 
18: ZIP         XBRL Zipped Folder -- 0001654954-20-003226-xbrl      Zip     68K

‘EX-101.INS’   —   XBRL Instance — cbai-20191231

This Exhibit is an XBRL XML File.

                                                                                                                                                                                
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<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><b>Overview</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">CBA Florida, Inc. ("CBAI" or the “Company”), formerly known as Cord Blood America, Inc., was incorporated in the State of Florida on October 12, 1999 as D&A Lending, Inc. CBAI's wholly-owned subsidiaries include CBA Partners, Inc. which was formerly Cord Partners, Inc., CBA Companies Inc. which was formerly CorCell Companies, Inc., and CBA Sub Ltd. which was formerly CorCell, Ltd., (CBA Partners, Inc., CBA Companies Inc. and CBA Sub Ltd. are sometimes referred to herein collectively as “Cord”), CBA Properties, Inc. ("Properties"), and Career Channel, Inc. formerly D/B/A Rainmakers International.  As further described below, on May 17, 2018, CBAI completed a sale of substantially all of the assets of the Company and its wholly-owned subsidiaries. Prior to the sale of substantially all of the assets and related liabilities, CBAI and its subsidiaries had engaged in the following business activities:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">CBAI and Cord specialized in providing private cord blood and cord tissue stem cell services. Additionally, the Company was in the business of procuring birth tissue for organizations utilizing the tissue in the transplantation and/or research of therapeutic products.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">Properties was formed to hold corporate trademarks and other intellectual property.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><b>Company Developments – Sale of Assets</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 7, 2018, the Company announced that it entered into an Asset Purchase Agreement, dated as of February 6, 2018 (the “Purchase Agreement”), with California Cryobank Stem Cell Services LLC (“FamilyCord”). The sale of substantially all of the Company’s assets pursuant to the Purchase Agreement was completed on May 17, 2018.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Pursuant to the terms of the Purchase Agreement, FamilyCord acquired from CBAI substantially all of the assets of CBAI and its wholly-owned subsidiaries and assumed certain liabilities of CBAI and its wholly-owned subsidiaries. The sale did not include CBAI’s cash and certain other excluded assets and liabilities. FamilyCord agreed to pay a purchase price of $15,500,000 in cash at closing with $3,000,000 of the purchase price deposited into escrow to secure CBAI’s indemnification obligations under the Purchase Agreement.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Purchase Agreement contained customary representations, warranties and covenants for a transaction of this type and nature. Pursuant to the terms of the Purchase Agreement, CBAI indemnified FamilyCord for breaches of its representations and warranties, breaches of covenants, losses related to excluded assets or excluded liabilities and certain other matters. The representations and warranties set forth in the Purchase Agreement generally survive for two years following the closing.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="background-color: white">CBAI previously disclosed that it anticipates distributing proceeds from the FamilyCord sale to shareholders.</font> On February 11, 2020, the Company’s Board of Directors approved a plan of dissolution (the “Plan”) that is subject to shareholder approval. If the Company’s shareholders approve the Plan, the Company presently intends to make an initial distribution of at least $0.0048 per share of common stock as promptly as reasonably possible thereafter. <font style="background-color: white">Based on the information currently available to it, the Company is unable to estimate the aggregate amount which will ultimately be distributed to its shareholders. The actual amounts of any distributions may vary substantially, depending on, among other things, whether the Company becomes subject to any additional liabilities or claims, including potential claims for indemnification relating to sales of the Company’s assets, whether the Company incurs unexpected or greater than expected losses with respect to contingent liabilities, the extent to which the Company is able to monetize any remaining non-cash assets and any future amounts received by the Company in connection with, among other things, all future amounts received by the Company, including the amount of FamilyCord sale proceeds to be released from escrow upon the termination of the escrow in May 2020 CBAI and its Board of Directors continue to contemplate a distribution, given the Company’s expenses and other contingencies the total proceeds ultimately paid out to shareholders will be significantly less than the gross purchase price the Company received from its Purchase Agreement with FamilyCord.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>BioCells Acquisition and Subsequent Sale</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In September 2010, the Company entered into a Stock Purchase Agreement (the “Agreement”), with the Shareholders of Biocordcell Argentina S.A., a corporation organized under the laws of Argentina (“BioCells”), providing for the Company’s acquisition of 50.004% of the outstanding shares of BioCells (the “Shares).</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On September 29, 2014, the Company closed a transaction whereby it sold its ownership stake in BioCells, amounting to 50.004% of the outstanding shares of BioCells to Diego Rissola (Purchaser), who is the current President and Chairman of the Board of BioCells and a shareholder prior to the transaction.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Under the Agreement, the Purchaser was obligated to pay the total amount of $705,000, as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">$5,000 on or before October 12, 2014; $10,000 on or before December 1, 2014; $15,000 on or before March 1, 2015; $15,000 on or before June 1, 2015; $45,000 on or before June 1, 2016; $55,000 on or before June 1, 2017; $55,000 on or before June 1, 2018; $55,000 on or before June 1, 2019; $65,000 on or before June 1, 2020; $75,000 on or before June 1, 2021; $75,000 on or before June 1, 2022; $75,000 on or before June 1, 2023; $80,000 on or before June 1, 2024; $80,000 on or before June 1, 2025.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On October 31, 2018, the Company entered into a settlement agreement with the Purchaser whereby the Purchaser agreed to make a one-time payment of $294,988 to the Company to settle all remaining payments and obligations due under the Agreement. The Company received the settlement payment on November 6, 2019, and wrote off the remaining unpaid receivable of $89,597 remaining under the terms of the Agreement.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Sale of China Stem Cell Stock and Convertible Debt</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company entered into an Asset Purchase Agreement, dated June 19, 2019, with Golden Sun Multi-Manager Fund LP (“Golden Sun”), whereby the Company sold all shares and convertible debt it held in China Stem Cells Ltd. (“China Stem Cells”) to Golden Sun. The total proceeds from the sale was $50,000. The Company previously wrote-off the entire value of the China Stem Cells shares and convertible debt held by the Company, and accrued a gain for the full value of sale proceeds received on its statement of operations for the nine months ended September 30, 2019.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
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<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Financial Statement Presentation</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The preparation of the financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP) requires management to make estimates and assumptions that affect reported amounts and related disclosures. Actual results could differ from these estimates. Certain prior year amounts have been reclassified to conform to current year presentation.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Pursuant to guidance in accounting standard codification (“ASC”) 205-20, Presentation of Financial Statements, and ASC 360-10-45-9 to 14, Property, Plant and Equipment, regarding when the results of operations of a component of an entity that is classified as held for sale would be reported as a discontinued operation in the financial statements of the entity. The Company determined that it met the threshold for reporting discontinued operations due to a strategic business shift having a major effect on an entity's operations and financial results.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 7, 2018, the Company announced that it entered into the Purchase Agreement with FamilyCord. The sale of substantially all of the Company’s assets occurred on May 17, 2018. For this reason, the results of operations for the cord blood and cord tissue stem cell operations have been reclassified into discontinued operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Basis of Consolidation</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The consolidated financial statements include the accounts of CBAI and its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated upon consolidation.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Estimates</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Cash</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Cash and cash equivalents include cash on hand, deposits in banks with maturities of three months or less, and all highly liquid investments which are unrestricted as to withdrawal or use, and which have original maturities of three months or less at the time of purchase.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company maintains cash and cash equivalents at several financial institutions. The value of cash and cash equivalents held by the Company at a bank in excess of federally insured limits was $11,282,312 during the period ended December 31, 2019.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Accounts Receivable</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Accounts receivable consist of the amounts due for facilitating the processing and storage of umbilical cord blood and cord tissue, and birth tissue procurement services.  Accounts receivable relating to deferred revenues are netted against deferred revenue for presentation purposes. The allowance for doubtful accounts is estimated based upon historical experience. The allowance is reviewed quarterly and adjusted for accounts deemed uncollectible by management. Amounts are written off when all collection efforts have failed. The Company wrote off $0.00 and $10,220 in bad debt expense during the years ended December 31, 2019 and 2018, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Property and Equipment</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. Routine maintenance and repairs are charged to expense as incurred while major replacement and improvements are capitalized as additions to the related assets. Sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the related asset and accumulated depreciation accounts with any gain or loss credited or charged to income upon disposition.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Intangible Assets (related to cord blood and cord tissue stem cell storage business)</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Intangible assets consist primarily of customer contracts and relationships as part of the acquisition of the CorCell and CureSource assets in 2007. During 2011 the Company also foreclosed and acquired assets from NeoCells, a subsidiary of ViviCells, as satisfaction of outstanding receivables from ViviCells. Intangible assets are stated at cost. Amortization of intangible assets is computed using the sum of the years’ digits method, over an estimated useful life of 18 years. Amortization expense included in the discontinued operations for the years ended December 31, 2019 and 2018 was $0.00 and $27,345 respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Notes Receivable (related to cord blood and cord tissue stem cell storage business)</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Notes receivable consists of the notes due from Biocordcell Argentina S.A. (BioCells). The notes receivable are recorded at carrying-value on the financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For note receivable from BioCells, since the Company agreed to finance the sale of the shares in BioCells at no stated interest, in accordance with ASC 500, the interest method was applied using a 6% borrowing rate. The Company recorded an unamortized discount based on the 6% borrowing rate and the discount is amortized throughout the life of the note.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Deferred Revenue (related to cord blood and cord tissue stem cell storage business)</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Deferred revenue consists of payments for enrollment in the program and processing of umbilical cord blood and cord tissue by customers whose samples have not yet been collected, as well as the pro-rata share of annual storage fees for customers whose samples were stored during the year.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Valuation of Derivative Instruments</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">ASC 815-40 requires that embedded derivative instruments be bifurcated and assessed, along with free-standing derivative instruments such as warrants, on their issuance date and in accordance with ASC 815-40-15 to determine whether they should be considered a derivative liability and measured at their fair value for accounting purposes. In determining the appropriate fair value, the Company uses the Binomial option pricing formula and present value pricing. At December 31, 2019 and December 31, 2018, the Company adjusted its derivative liability to its fair value, and reflected the change in fair value, in its consolidated statements of operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Revenue Recognition (related to cord blood and cord tissue stem cell storage business)</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the provisions of Accounting Standards Update (“ASU”) 2014-09, entities should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, ASU 2014-09 requires new and enhanced disclosures. Companies may adopt the new standard either using the full retrospective approach, a modified retrospective approach with practical expedients, or a cumulative effect upon adoption approach. The Company adopted ASC 606 effective January 1, 2018 using the full retrospective approach. The adoption of ASU 2014-09 did not have any material impact on the Company’s consolidated financial position, results of operations, equity or cash flows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Cost of Services</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Costs are incurred as umbilical cord blood, cord tissue and birth tissue are collected. These costs include the transportation of the umbilical cord blood, cord tissue and birthing tissue from the hospital, direct material and labor, costs for processing and cryogenic storage of new samples by a third party laboratory, collection kit materials and allocated rent, utility and general administrative expenses. The Company expenses costs in the period incurred.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Income Taxes</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company follows the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income in the period that included the enactment date. The measurement of deferred tax assets is reduced, if necessary, by a valuation allowance based on the portion of tax benefits that more likely than not will not be realized.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company follows guidance issued by the FASB with regard to its accounting for uncertainty in income taxes recognized in the financial statements. Such guidance prescribes a recognition threshold of more likely than not and a measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In making this assessment, a company must determine whether it is more likely than not that a tax position will be sustained upon examination, based solely on the technical merits of the position and must assume that the tax position will be examined by taxing authorities. Our policy is to include interest and penalties related to unrecognized tax benefits in income tax expense. Interest and penalties totaled $0 for the years ended December 31, 2019 and 2018. The Company files income tax returns with the Internal Revenue Service (“IRS”) and various state jurisdictions.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Accounting for Stock Option Plan</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company follows the provisions of Accounting Standards Codification (“ASC”) 718, “Accounting for Stock-based Compensation”), which requires recognition in the consolidated financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to ASC Topic 505-50, for share-based payments to consultants and other third-parties, compensation expense is determined at the “measurement date.” The expense is recognized over the vesting period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. The Company initially records compensation expense based on the fair value of the award at the reporting date.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Earnings (Loss) Per Share</u> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Basic earnings per share (EPS) is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding.  Diluted EPS is similar to basic EPS except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been exercised.  The Company’s common equivalent shares are excluded from the computation of diluted EPS if the effect is anti-dilutive. <font style="background-color: white">The diluted weighted average common shares outstanding are 1,272,066,146 and</font> 1,272,066,146 <font style="background-color: white">as of December 31, 2019 and 2018, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Concentration of Risk</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed completely to perform as contracted. Concentrations of credit risk (whether on or off balance sheet) that arise from financial instruments exist for groups of customers or counterparties when they have similar economic characteristics that would cause their ability to meet their contractual obligations to be similarly affected by changes in economic or other conditions described below.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Relationships and agreements which could potentially expose the Company to concentrations of credit risk consist of the use of one source for the processing and storage of all umbilical cord blood and one source for the development and maintenance of a website. The Company believes that alternative sources are available for each of these concentrations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Financial instruments that subject the Company to credit risk could consist of cash balances maintained in excess of federal depository insurance limits. The Company maintains its cash and cash equivalent balances with high credit quality financial institutions. At times, cash and cash equivalent balances may be in excess of Federal Deposit Insurance Corporation limits, and as of December 31, 2019, this was the case. To date, the Company has not experienced any such losses. </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Fair Value Measurements</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Assets and liabilities recorded at fair value in the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure the fair value. Level inputs, as defined by ASC 820, are as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">Level 1 – quoted prices in active markets for identical assets or liabilities.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">Level 2 – other significant observable inputs for the assets or liabilities through corroboration with market data at the measurement date.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">Level 3 – significant unobservable inputs that reflect management’s best estimate of what market participants would use to price the assets or liabilities at the measurement date.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">There were no financial instruments measured on a recurring basis as of December 31, 2019 and 2018 and on a non-recurring basis for any of the periods presented.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For certain of the Company’s financial instruments, including cash, accounts receivable, prepaid expenses and other assets, accounts payable and accrued expenses, and deferred revenues, the carrying amounts approximate fair value due to their short maturities. The carrying amounts of the Company’s notes receivable and notes payable approximates fair value based on the prevailing interest rates.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Comprehensive Income and Loss</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company had no items that would be classified as other comprehensive income or loss for the years ended December 31, 2019 and 2018.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">  </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Recently Issued Accounting Pronouncements</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09) as modified by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing,” and ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.” The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, new and enhanced disclosures will be required. Companies may adopt the new standard either using the full retrospective approach, a modified retrospective approach with practical expedients, or a cumulative effect upon adoption approach. The Company adopted ASC 606 effective January 1, 2018 using the full retrospective approach. The adoption of ASU 2014-09 did not have any material impact on the Company’s consolidated financial position, results of operations, equity or cash flows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In August 2016, the FASB issued ASU No. 2016-15, <i>Statement of Cash Flows (Topic 230):</i> <i>Classification of Certain Cash Receipts and Cash Payments</i>, in an effort to reduce the diversity of how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments of this ASU are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. There has been no impact as a result of adopting this ASU on our financial statements and related disclosures.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. This new standard clarifies the definition of a business and provides a screen to determine when an integrated set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This new standard was effective for the Company on January 1, 2018, and there was no impact as a result of adopting this ASU on our financial statements and related disclosures.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="background-color: white">In February 2016, the FASB issued ASU No. 2016-02,</font> <font style="background-color: white"><i>Leases (Topic 842),</i></font> <font style="background-color: white">under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers.</font> The amendments of this ASU are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company determined that there no impact this ASU on the consolidated financial statements and related disclosures. The Company has no long-term operating leases on the date of adoption.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This new standard removes, adds and modifies certain disclosure requirements for fair value measurements in Topic 820. The Company will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and the valuation processes of Level 3 fair value measurements. However, the Company will be required to additionally disclose the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements, and the range and weighted average of assumptions used to develop significant unobservable inputs for Level 3 fair value measurements. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019.  The amendments relating to additional disclosure requirements will be applied prospectively for only the most recent interim or annual period presented in the initial year of adoption. All other amendments will be applied retrospectively to all periods presented upon their effective date. The Company is permitted to early adopt either the entire ASU or only the provisions that eliminate or modify the requirements. The Company evaluated the impact of this pronouncement and concluded that the guidance does not have a material impact on its financial position and results of operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In December 2019, the FASB issued ASU No. 2019-12, <i>Simplifying the Accounting for Income Taxes</i>, which is intended to simplify the accounting standard and improve the usefulness of information provided in the financial statements. The Company intends to implement this new accounting guidance effective January 1, 2021, however early adoption is permitted. The Company is currently assessing the impact this new accounting guidance will have on its financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:SignificantAccountingPoliciesTextBlock>
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<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 7, 2018, the Company announced that it entered into the Purchase Agreement with FamilyCord. The sale of substantially all of the Company’s assets to FamilyCord was completed on May 17, 2018.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Discontinued Operations</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On May 17, 2018, the Company divested its Cord Blood and Cord Tissue Stem Cell Storage Operations (CBCTS) to FamilyCord $15.5 million in cash and the assumption of net liabilities of $473,538. The sale resulted in the recognition of an after-tax income of $13.9 million, which is reflected as net income from discontinued operations in the Consolidated Statements of Operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company has classified the CBCTS assets and liabilities as held-for-sale as of December 31, 2017 in the Consolidated Balance Sheets and has classified the CBCTS operating results, net of tax, as discontinued operations in the accompanying Consolidated Statement of Operations for all periods presented. Previously, CBCTS represented the sole operations of the Company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Background</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Pursuant to the terms of the Purchase Agreement, FamilyCord agreed to acquire from CBAI substantially all of the assets of CBAI and its wholly-owned subsidiaries and to assume certain liabilities of CBAI and its wholly-owned subsidiaries. FamilyCord agreed to pay a purchase price of $15,500,000 in cash at closing with $3,000,000 of the purchase price deposited into escrow to secure CBAI’s indemnification obligations under the Purchase Agreement. The sale, which was completed on May 17, 2018, did not include CBAI’s cash, accounts receivables, and certain other excluded assets and liabilities.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The assets sold and liabilities transferred in the transaction were previously the sole revenue generating assets of the Company. The results of operations associated with the assets sold have been reclassified into discontinued operations for periods prior to the completion of the transaction.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following is a summary of assets and liabilities sold, and gain recognized, in connection with the sale of assets to FamilyCord during the year ended December 31, 2018:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="width: 88%; padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Other current assets</font></td> <td style="width: 1%; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; width: 9%; text-align: right"><font style="font-size: 8pt">45,391</font></td> <td style="width: 1%; padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total current assets</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">45,391</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Customer contracts and relationships, net of amortization</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">953,490</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Property, plant & equipment, less accumulated depreciation</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">23,685</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total assets</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,022,566</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Deferred revenue</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,496,104</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total liabilities</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,496,104</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">The gain on sale of assets was reported during the period was determined as follows:</font></td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Total assets sold</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">1,022,566</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Total liability sold</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,496,104</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Net liability sold</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">473,538</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Cash received</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">12,500,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Cash in escrow</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">3,000,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total consideration</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">15,500,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Net gain from sales of assets</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">15,973,537</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Additionally, the operating results and cash flows related to assets sold on May 17, 2018 are included in discontinued operations in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the years ended December 31, 2019 and December 31, 2018. </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Income From Discontinued Operations</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The sale of the majority of the assets related to the cord blood and cord tissue stem cell operation represents a strategic shift in the Company’s business. For this reason, the results of operations related to the assets and liabilities held for sale for all periods are classified as discontinued operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following is a summary of the results of operations related to the assets held for sale for the years ended December 31, 2019 and December 31, 2018:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2019</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%; text-align: justify"><font style="font-size: 8pt">Revenue</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,108,382</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Cost of services</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(473,312</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Gross profit</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">635,070</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(99,231</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income from Discontinued Operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">535,839</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">FamilyCord reimbursement</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">435,923</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Gain on sale of assets</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">15,973,537</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income from discontinued operations before taxes</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,945,299</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income taxes</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(714,624</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Net income from discontinued operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,230,675</font></td> <td> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following is a summary of net cash provided by operating activities and investing activities for the years ended December 31, 2019 and December 31, 2018:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2019</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Cash provided by discontinued operations</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">3,289,116</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Cash provided by investing activities of discontinued operations</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">12,500,000</font></td> <td> </td></tr> </table>
</us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock>
<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">At December 31, 2019 and 2018, property and equipment consisted of:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Useful Life</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(Years)</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2019</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr> <td style="vertical-align: bottom; width: 64%"><font style="font-size: 8pt">Furniture and fixtures</font></td> <td style="vertical-align: bottom; width: 1%; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 0%"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 0%"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font-size: 8pt">17,597</font></td> <td style="vertical-align: bottom; width: 1%"> </td> <td> </td> <td> </td> <td style="width: 1%"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Computer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">124,466</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Laboratory Equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">5,837</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Freezer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">7-15</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">34,699</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Leasehold Improvements</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">5</font> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">102,862</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">285,461</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Less: accumulated depreciation and amortization</font></td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">(285,461</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt"><b>Assets held for sale:</b></font></td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Furniture and fixtures</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Computer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Laboratory Equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Freezer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">7-15</font> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Less: accumulated depreciation and amortization</font></td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For the years ended December 31, 2019 and 2018, depreciation expense totaled $0.00 and $5,066, respectively, for continuing operations and $0.00 and $5,862, respectively, for discontinued operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
<us-gaap:CommitmentsAndContingenciesPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Operating Leases</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On January 21, 2014, the Company entered a First Amendment to Lease (the “Amendment”), which extended its lease at the property located at 1857 Helm Drive, Las Vegas (the “Property”), Nevada through September 30, 2019.  In connection with the Amendment, the Company received an abatement of the entire amount of its rent for January 2014, except for common area maintenance (“CAM”) charges.  In addition, as of October 1, 2014, the Company’s monthly lease payments reverted back to their rates as they existed in June 2009, other than CAM charges, with annual adjustments thereafter as set forth in the Amendment. Moreover, the landlord had the option to lease a portion of the premises then occupied by the Company to a third party, and if this portion is leased to a third party, the Company’s monthly rent amount was to be reduced <i>pro rata</i> with the portion of the space leased to a third party.  If the landlord was unable to or elected not to lease a portion of the premises to a third party by November 30, 2015 and each subsequent anniversary thereof, the Company was to receive an additional abatement of one month rent, excluding CAM charges, in December 2015, December 2016 and December 2017, respectively and as applicable. Effective May 15, 2016, the Company entered a Second Amendment to Lease. The Second Amendment to Lease sets forth that the square footage of the Property has been reduced by 380 square feet, such that the Property now consists of 16,523 square feet, confirms the abatements set forth in the First Amendment to Lease, sets forth that the Company’s CAM expenses and home owner association costs shall be calculated based on the reduced square footage amount, and confirms that the Company’s monthly rent amounts will remain unchanged from the First Amendment to Lease. All lease payments due for the Second Amendment Lease for the three and nine months ended September 30, 2019, were paid by September 30, 2019. On October 25, 2018, the Company entered into a sublease agreement (“Sublease”) for its offices at 1857 Helm Drive, Las Vegas, Nevada, pursuant to which a sub-tenant (the “Sublessee”) occupied the offices in exchange for payment of the rent for the offices to the landlord. The Sublease, and the Company’s underlying lease for the offices, ended on September 30, 2019 and the Sublessee vacated the offices.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On October 1, 2019, the Company moved to a new corporate headquarters located at 3753 Howard Hughes Parkway, Suite 200, Office #258, Las Vegas, Nevada. The new month-to-month lease for the Company’s headquarters was entered into on August 21, 2019 and commenced on October 1, 2019. The Company believes that it has adequate space for its anticipated needs.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s rent expense was $18,211 and $166,558 during the years ended December 31, 2019 and 2018, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:CommitmentsAndContingenciesPolicyTextBlock>
<CBAI:StockOptionPlanTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Stock Option Plan</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company's Stock Option Plan permits the granting of stock options to its employees, directors, consultants and independent contractors for up to 8.0 million shares of its common stock. On July 13, 2009, the Company also registered its 2009 Flexible Stock Plan (the “Plan”), which increased the total shares available to 4 million common shares. The Plan allows the Company to issue either stock options or common shares.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On June 3, 2011, the Company registered its 2011 Flexible Stock Option plan, and reserved 1,000,000 shares of the Company's common stock for future issuance under such plan. The Company also canceled the Company's 2010 Flexible Stock Plan and returned 501,991 reserved but unused common shares back to its treasury.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Stock options that vest at the end of a one-year period are amortized over the vesting period using the straight-line method. For stock options awarded using graded vesting, the expense is recorded at the beginning of each year in which a percentage of the options vests. The Company did not issue any stock options for the years ended December 31, 2019 and 2018.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s stock option activity was as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Stock</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Options</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Weighted Average Exercise Price</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Avg. Contractual</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Remaining Life</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 64%"><font style="font-size: 8pt">Outstanding, December 31, 2018</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">4,307,994</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">0.69</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1.06</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Granted</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Exercised</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Forfeited/Expired</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">3,643,934</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Outstanding December 31, 2019</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">664,060</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.53</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.40</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Exercisable December 31, 2019</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">664,060</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.53</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.40</font></td> <td> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following table summarizes significant ranges of outstanding stock options under the stock option plan at December 31, 2019:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Range of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercise Prices</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Number of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Options</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Average</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Remaining</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Contractual Life</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(years)</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Average</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercise</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Price</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Number of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Options</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercisable</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Average</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercise</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Price</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt solid; width: 22%; text-align: right"><font style="font-size: 8pt">.53</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">0.40</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">0.40</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</CBAI:StockOptionPlanTextBlock>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The components of income (loss) consists of the following:</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Years Ended December 31,</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; width: 75%; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Loss from continuing operations</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(402,976</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,771,861</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Income from discontinued operations</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">- </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">19,113,490</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Income before taxes</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(402,976</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15,341,629</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">For the year ended December 31, 2019, income from discontinued operations included a $279,951 tax benefit for federal and state income taxes arising from a 2014 asset sale that had originally been treated as a capital gain when it should have been treated as a capital loss. </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Income tax expense (benefit) consists of the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Years Ended December 31,</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; width: 75%; padding-left: 9pt"><font style="font: 8pt Times New Roman, Times, Serif">U.S. Federal Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,577,221</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; padding-left: 9pt"><font style="font: 8pt Times New Roman, Times, Serif">State and Local Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">123,393</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; padding-left: 9pt"><font style="font: 8pt Times New Roman, Times, Serif">     Current Income Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,700,614</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Deferred U.S. Federal Tax </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(86,176</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">503,577</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total Income Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(86,176</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,204,191</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The Company has realized an income tax benefit from continuing operations of $86,176 as a consequence of the utilization of federal and state net operating loss offsets. </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The difference between the provision for income taxes (benefit) and the amount computed by applying the U.S. federal income tax rate for the years ended December 31, 2019 and 2018 were as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Years Ended December 31,</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; width: 75%; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Federal income tax benefit/expense at statutory rate (34%)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">21.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">21.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif">% </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">State income tax, net of federal benefit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">23.12</font></td> <td style="font: 8pt Times New Roman, Times, Serif"></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.63</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Capital loss benefit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46.47</font></td> <td style="font: 8pt Times New Roman, Times, Serif"></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1.14</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(55.84</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Reduction in NOLs</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">48.54</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2.51)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Effective income tax rate</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">89.22</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14.33</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">% </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The major components of the Company’s deferred tax assets as of December 31, 2019 and 2018 are shown below.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; width: 76%; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Net operating loss carryforwards</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">144,551</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">65,559</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other deferred tax assets</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25,491</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">38,648</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Gain Liability</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(600,516</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(546,908</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(56,193</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(60,876</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Net deferred tax assets (liabilities)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(486,667</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(503,577</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted income tax rates in effect for the year the temporary differences are expected to be recovered or settled.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">The Company has evaluated the positive and negative evidence bearing upon the realization of its deferred tax assets and liabilities.  Under applicable accounting standards, management has considered the Company’s operational history and concluded that it is more likely than not the Company will recognize partial benefits of its deferred tax assets for 2019 and 2018. Accordingly, a valuation allowance of $56,193 and $60,876 was established at December 31, 2019 and 2018, respectively, to offset the net deferred tax assets. The decrease in valuation allowance by $4,683 to $56,193 for the year ending December 31, 2019 was primarily related to the utilization of net operating loss carryforwards to offset current year income and also the write-off of net operating losses due to Section 382 limitation analysis.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company has U.S. federal net operating loss (“NOL”) carryforwards available at December 31, 2019 of approximately $688,340 that will begin to expire in 2025. The 2019 NOLs of $376,155 will have an indefinite life and will not expire under the Tax Cuts and Jobs Act (the “TCJA”). The Company has its operations in the state of Nevada, which does not have state income taxes. The State of Nevada has a gross receipts tax, which is included as a component of operating expenses.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Utilization of the NOL carryforwards may be subject to a substantial annual limitation under Section 382 of the Internal Revenue Code of 1986 due to ownership change limitations that could occur in the future.  These future ownership changes may limit the amount of net operating loss carryforwards that can be utilized annually to offset future taxable income and tax, respectively.  To the extent an ownership change may occur, the NOL credit carryforwards and other deferred tax assets may be subject to limitations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">On December 22, 2017, President Trump signed into law the TCJA which significantly reforms the Internal Revenue Code of 1986, as amended. The TCJA, among other things, includes changes to U.S. federal tax rates, imposes significant additional limitations on the deductibility of interest and NOLs, allows for the expensing of capital expenditures, and puts into effect the migration from a “worldwide” system of taxation to a territorial system. The TCJA permanently lowers the corporate federal income tax rate to 21% from the existing maximum rate of 35%, effective for tax years including or commencing on January 1, 2018.  As a result of the reduction of the corporate federal income tax rate to 21%, U.S. GAAP requires companies to revalue their deferred tax assets and deferred tax liabilities as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment.  This revaluation resulted in a provision of $4,602,300 to income tax expense in continuing operations and a corresponding reduction of the Company’s valuation allowance.  As a result of the offsetting valuation allowance, there was no impact to the Company’s income statement for the year ended December 31, 2017 from the reduction in federal income tax rates.  We <i> </i> previously provided a provisional estimate of the effect of the Tax Act in our financial statements. In the fourth quarter of 2018, we completed our analysis to determine there was no additional effect of the Tax Act as of December 31, 2018.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">For the years ending December 31, 2019 and 2018, the Company is not aware of any uncertain tax positions or benefits. The Company’s policy is to record estimated interest and penalties related to uncertain tax benefits as income tax expense.  As of December 31, 2019, and 2018, the Company had no accrued interest or penalties recorded related to uncertain tax positions.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The tax years 2014 through 2019 remain open to examination by major taxing jurisdictions to which the Company is subject, which are primarily in the U.S. The statute of limitations for U.S. net operating losses utilized in future years will remain open beginning in the year of utilization.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
</us-gaap:IncomeTaxDisclosureTextBlock>
<CBAI:OtherDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Certain U.S. Federal Income Tax Consequences of the Sale of Assets</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The sale of assets to FamilyCord was a transaction taxable to the Company for United States federal income tax purposes. In general, the Company will recognize taxable gain in an amount equal to the difference, if any, between (i) the total amount realized by the Company on the sale and (ii) the Company’s aggregate adjusted tax basis in the assets sold. The total amount realized by the Company on the sale will equal the cash the Company receives in exchange for the assets sold, plus the amount of related liabilities assumed by the Buyer or cancelled in the transaction. The Company expects that a portion of the taxable gain recognized on the sale will be offset by current year losses from operations and available net operating loss carry forwards, as currently reflected on our consolidated U.S. federal income tax returns. However, the Company believes that a significant portion of its net operating loss carryforwards will never be fully utilized and will expire unused.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Our shareholders will not be subject to U.S. federal income tax on the sale. However, as discussed below, our shareholders will be subject to U.S. federal income tax upon the receipt of any distribution of sale proceeds made by the Company to our shareholders.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Certain U.S. Federal Income Tax Consequences of the Sale of Assets to U.S. Shareholders</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For purposes of this discussion, a “U.S. shareholder” is a beneficial owner of shares of Company stock who or that is, for U.S. federal income tax purposes:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">an individual who is a citizen or resident of the United States;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">corporation, or any other entity taxable as a corporation, created or organized in or under the laws of the United States, any state thereof or the District of Columbia;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">any trust (i) if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more United States persons (as defined in the United States Internal Revenue Code of 1986) have the authority to control all substantial decisions of the trust, or (ii) if a valid election is in place to treat the person as a United States person.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Pursuant to the Purchase Agreement, the Company may not dissolve or liquidate for at least two years following closing of the transaction. Therefore, prior to the Company’s adoption of a plan of liquidation, each distribution made by the Company to a U.S. shareholder is characterized as a dividend to the extent of the Company’s current and accumulated earnings and profits (as determined under U.S. federal income tax principles). Provided that certain holding period requirements are satisfied, a dividend received by a U.S. shareholder who is an individual, trust or estate may qualify as “qualified dividend income” that is currently subject to U.S. federal income tax at a maximum rate of 20%. Dividends received by corporate U.S. shareholders may be eligible for a dividend received deduction (subject to applicable exceptions and limitations). Any portion of a distribution that exceeds the Company’s current and accumulated earnings and profits is treated as a non-taxable return of capital, reducing such U.S. shareholder’s adjusted tax basis in its shares of Company stock and, thereafter as gain from the sale or exchange of Company stock.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 11, 2020, the Company’s Board of Directors approved a plan of dissolution (the “Plan”) that is subject to shareholder approval. If the Company’s shareholders approve the Plan, the Company presently intends to make an initial distribution of at least $0.0048 per share of common stock as promptly as reasonably possible thereafter. Based on the information currently available to it, the Company is unable to estimate the aggregate amount which will ultimately be distributed to its shareholders.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</CBAI:OtherDisclosureTextBlock>
<CBAI:TaxEstimatesAndExpenseDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For the year ended December 31, 2019, income from discontinued operations included a $279,951 tax benefit for federal and state income taxes arising from a 2014 asset sale that had originally been treated as a capital gain when it should have been treated as a capital loss.  In addition, we have realized an income tax benefit from continuing operations of $86,176 as a consequence of the utilization of federal and state net operating loss offsets.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</CBAI:TaxEstimatesAndExpenseDisclosureTextBlock>
<us-gaap:StockholdersEquityPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Preferred Stock</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company has 5,000,000 shares of $0.0001 par value preferred stock authorized, which includes 1,500,000 shares of Series A Preferred Stock. As of December 31, 2019 and 2018, the Company had no preferred stock issued and outstanding.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Common Stock</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">As of December 31, 2019 the Company had 2,890,000,000 shares of $0.0001 par value common stock authorized. As of December 31, 2019 and 2018, the Company had 1,272,066,146 shares of common stock issued and outstanding, and 20,000 shares remain in the Company’s treasury.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:StockholdersEquityPolicyTextBlock>
<us-gaap:ScheduleOfSubsequentEventsTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 11, 2020, the Company’s Board of Directors approved a Plan of Dissolution of the Company (the “Plan of Dissolution”) for the orderly liquidation and wind-up of the Company (the “Dissolution”). The Plan and the Dissolution are contingent on approval of the Plan by the Company’s shareholders.  If the Company’s shareholders approve the Plan, the Company presently intends to make an initial distribution of at least $0.0048 per share of common stock as promptly as reasonably possible thereafter. Based on the information currently available to it, the Company is unable to estimate the aggregate amount which will ultimately be distributed to its shareholders. The actual amounts of any liquidating distributions may vary substantially, depending on, among other things, whether the Company becomes subject to any additional liabilities or claims, including potential claims for indemnification relating to sales of the Company’s assets, whether the Company incurs unexpected or greater than expected losses with respect to contingent liabilities, the extent to which the Company is able to monetize any remaining non-cash assets and any future amounts received by the Company in connection with, among other things, all future amounts received by the Company, including the amount of asset sale proceeds to be released from escrow upon the termination of the escrow in May 2020.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:ScheduleOfSubsequentEventsTextBlock>
<CBAI:FinancialStatementPresentationPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The preparation of the financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP) requires management to make estimates and assumptions that affect reported amounts and related disclosures. Actual results could differ from these estimates. Certain prior year amounts have been reclassified to conform to current year presentation.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Pursuant to guidance in accounting standard codification (“ASC”) 205-20, Presentation of Financial Statements, and ASC 360-10-45-9 to 14, Property, Plant and Equipment, regarding when the results of operations of a component of an entity that is classified as held for sale would be reported as a discontinued operation in the financial statements of the entity. The Company determined that it met the threshold for reporting discontinued operations due to a strategic business shift having a major effect on an entity's operations and financial results.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">On February 7, 2018, the Company announced that it entered into the Purchase Agreement with FamilyCord. The sale of substantially all of the Company’s assets occurred on May 17, 2018. For this reason, the results of operations for the cord blood and cord tissue stem cell operations have been reclassified into discontinued operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</CBAI:FinancialStatementPresentationPolicyTextBlock>
<us-gaap:ConsolidationPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The consolidated financial statements include the accounts of CBAI and its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated upon consolidation.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:ConsolidationPolicyTextBlock>
<us-gaap:UseOfEstimates contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:UseOfEstimates>
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Cash and cash equivalents include cash on hand, deposits in banks with maturities of three months or less, and all highly liquid investments which are unrestricted as to withdrawal or use, and which have original maturities of three months or less at the time of purchase.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company maintains cash and cash equivalents at several financial institutions. The value of cash and cash equivalents held by the Company at a bank in excess of federally insured limits was $11,282,312 during the period ended December 31, 2019.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
<us-gaap:TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Accounts receivable consist of the amounts due for facilitating the processing and storage of umbilical cord blood and cord tissue, and birth tissue procurement services.  Accounts receivable relating to deferred revenues are netted against deferred revenue for presentation purposes. The allowance for doubtful accounts is estimated based upon historical experience. The allowance is reviewed quarterly and adjusted for accounts deemed uncollectible by management. Amounts are written off when all collection efforts have failed. The Company wrote off $0.00 and $10,220 in bad debt expense during the years ended December 31, 2019 and 2018, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:TradeAndOtherAccountsReceivableUnbilledReceivablesPolicy>
<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. Routine maintenance and repairs are charged to expense as incurred while major replacement and improvements are capitalized as additions to the related assets. Sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the related asset and accumulated depreciation accounts with any gain or loss credited or charged to income upon disposition.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
<us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Intangible assets consist primarily of customer contracts and relationships as part of the acquisition of the CorCell and CureSource assets in 2007. During 2011 the Company also foreclosed and acquired assets from NeoCells, a subsidiary of ViviCells, as satisfaction of outstanding receivables from ViviCells. Intangible assets are stated at cost. Amortization of intangible assets is computed using the sum of the years’ digits method, over an estimated useful life of 18 years. Amortization expense included in the discontinued operations for the years ended December 31, 2019 and 2018 was $0.00 and $27,345 respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock>
<us-gaap:FinanceLoansAndLeasesReceivablePolicy contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Notes receivable consists of the notes due from Biocordcell Argentina S.A. (BioCells). The notes receivable are recorded at carrying-value on the financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For note receivable from BioCells, since the Company agreed to finance the sale of the shares in BioCells at no stated interest, in accordance with ASC 500, the interest method was applied using a 6% borrowing rate. The Company recorded an unamortized discount based on the 6% borrowing rate and the discount is amortized throughout the life of the note.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:FinanceLoansAndLeasesReceivablePolicy>
<us-gaap:RevenueRecognitionDeferredRevenue contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Deferred revenue consists of payments for enrollment in the program and processing of umbilical cord blood and cord tissue by customers whose samples have not yet been collected, as well as the pro-rata share of annual storage fees for customers whose samples were stored during the year.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:RevenueRecognitionDeferredRevenue>
<us-gaap:DerivativesPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">ASC 815-40 requires that embedded derivative instruments be bifurcated and assessed, along with free-standing derivative instruments such as warrants, on their issuance date and in accordance with ASC 815-40-15 to determine whether they should be considered a derivative liability and measured at their fair value for accounting purposes. In determining the appropriate fair value, the Company uses the Binomial option pricing formula and present value pricing. At December 31, 2019 and December 31, 2018, the Company adjusted its derivative liability to its fair value, and reflected the change in fair value, in its consolidated statements of operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:DerivativesPolicyTextBlock>
<us-gaap:RevenueRecognitionPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the provisions of Accounting Standards Update (“ASU”) 2014-09, entities should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, ASU 2014-09 requires new and enhanced disclosures. Companies may adopt the new standard either using the full retrospective approach, a modified retrospective approach with practical expedients, or a cumulative effect upon adoption approach. The Company adopted ASC 606 effective January 1, 2018 using the full retrospective approach. The adoption of ASU 2014-09 did not have any material impact on the Company’s consolidated financial position, results of operations, equity or cash flows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:RevenueRecognitionPolicyTextBlock>
<us-gaap:CostOfSalesPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Costs are incurred as umbilical cord blood, cord tissue and birth tissue are collected. These costs include the transportation of the umbilical cord blood, cord tissue and birthing tissue from the hospital, direct material and labor, costs for processing and cryogenic storage of new samples by a third party laboratory, collection kit materials and allocated rent, utility and general administrative expenses. The Company expenses costs in the period incurred.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:CostOfSalesPolicyTextBlock>
<us-gaap:IncomeTaxPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company follows the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income in the period that included the enactment date. The measurement of deferred tax assets is reduced, if necessary, by a valuation allowance based on the portion of tax benefits that more likely than not will not be realized.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company follows guidance issued by the FASB with regard to its accounting for uncertainty in income taxes recognized in the financial statements. Such guidance prescribes a recognition threshold of more likely than not and a measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In making this assessment, a company must determine whether it is more likely than not that a tax position will be sustained upon examination, based solely on the technical merits of the position and must assume that the tax position will be examined by taxing authorities. Our policy is to include interest and penalties related to unrecognized tax benefits in income tax expense. Interest and penalties totaled $0 for the years ended December 31, 2019 and 2018. The Company files income tax returns with the Internal Revenue Service (“IRS”) and various state jurisdictions.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company follows the provisions of Accounting Standards Codification (“ASC”) 718, “Accounting for Stock-based Compensation”), which requires recognition in the consolidated financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to ASC Topic 505-50, for share-based payments to consultants and other third-parties, compensation expense is determined at the “measurement date.” The expense is recognized over the vesting period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. The Company initially records compensation expense based on the fair value of the award at the reporting date.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Basic earnings per share (EPS) is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding.  Diluted EPS is similar to basic EPS except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been exercised.  The Company’s common equivalent shares are excluded from the computation of diluted EPS if the effect is anti-dilutive. <font style="background-color: white">The diluted weighted average common shares outstanding are 1,272,066,146 and</font> 1,272,066,146 <font style="background-color: white">as of December 31, 2019 and 2018, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:EarningsPerSharePolicyTextBlock>
<us-gaap:ConcentrationRiskCreditRisk contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed completely to perform as contracted. Concentrations of credit risk (whether on or off balance sheet) that arise from financial instruments exist for groups of customers or counterparties when they have similar economic characteristics that would cause their ability to meet their contractual obligations to be similarly affected by changes in economic or other conditions described below.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Relationships and agreements which could potentially expose the Company to concentrations of credit risk consist of the use of one source for the processing and storage of all umbilical cord blood and one source for the development and maintenance of a website. The Company believes that alternative sources are available for each of these concentrations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Financial instruments that subject the Company to credit risk could consist of cash balances maintained in excess of federal depository insurance limits. The Company maintains its cash and cash equivalent balances with high credit quality financial institutions. At times, cash and cash equivalent balances may be in excess of Federal Deposit Insurance Corporation limits, and as of December 31, 2019, this was the case. To date, the Company has not experienced any such losses. </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:ConcentrationRiskCreditRisk>
<us-gaap:FairValueMeasurementPolicyPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Assets and liabilities recorded at fair value in the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure the fair value. Level inputs, as defined by ASC 820, are as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">Level 1 – quoted prices in active markets for identical assets or liabilities.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">Level 2 – other significant observable inputs for the assets or liabilities through corroboration with market data at the measurement date.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" style="width: 100%"> <tr> <td style="font: 12pt Times New Roman, Times, Serif; vertical-align: top; width: 48px; padding-left: 0.25in"><font style="font-size: 8pt">●</font></td> <td style="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: justify"><font style="font-size: 8pt">Level 3 – significant unobservable inputs that reflect management’s best estimate of what market participants would use to price the assets or liabilities at the measurement date.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">There were no financial instruments measured on a recurring basis as of December 31, 2019 and 2018 and on a non-recurring basis for any of the periods presented.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For certain of the Company’s financial instruments, including cash, accounts receivable, prepaid expenses and other assets, accounts payable and accrued expenses, and deferred revenues, the carrying amounts approximate fair value due to their short maturities. The carrying amounts of the Company’s notes receivable and notes payable approximates fair value based on the prevailing interest rates.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
<us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company had no items that would be classified as other comprehensive income or loss for the years ended December 31, 2019 and 2018.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">  </p>
</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09) as modified by ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing,” and ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.” The revenue recognition principle in ASU 2014-09 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, new and enhanced disclosures will be required. Companies may adopt the new standard either using the full retrospective approach, a modified retrospective approach with practical expedients, or a cumulative effect upon adoption approach. The Company adopted ASC 606 effective January 1, 2018 using the full retrospective approach. The adoption of ASU 2014-09 did not have any material impact on the Company’s consolidated financial position, results of operations, equity or cash flows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In August 2016, the FASB issued ASU No. 2016-15, <i>Statement of Cash Flows (Topic 230):</i> <i>Classification of Certain Cash Receipts and Cash Payments</i>, in an effort to reduce the diversity of how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments of this ASU are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. There has been no impact as a result of adopting this ASU on our financial statements and related disclosures.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. This new standard clarifies the definition of a business and provides a screen to determine when an integrated set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This new standard was effective for the Company on January 1, 2018, and there was no impact as a result of adopting this ASU on our financial statements and related disclosures.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="background-color: white">In February 2016, the FASB issued ASU No. 2016-02,</font> <font style="background-color: white"><i>Leases (Topic 842),</i></font> <font style="background-color: white">under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers.</font> The amendments of this ASU are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company determined that there no impact this ASU on the consolidated financial statements and related disclosures. The Company has no long-term operating leases on the date of adoption.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This new standard removes, adds and modifies certain disclosure requirements for fair value measurements in Topic 820. The Company will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and the valuation processes of Level 3 fair value measurements. However, the Company will be required to additionally disclose the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements, and the range and weighted average of assumptions used to develop significant unobservable inputs for Level 3 fair value measurements. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019.  The amendments relating to additional disclosure requirements will be applied prospectively for only the most recent interim or annual period presented in the initial year of adoption. All other amendments will be applied retrospectively to all periods presented upon their effective date. The Company is permitted to early adopt either the entire ASU or only the provisions that eliminate or modify the requirements. The Company evaluated the impact of this pronouncement and concluded that the guidance does not have a material impact on its financial position and results of operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In December 2019, the FASB issued ASU No. 2019-12, <i>Simplifying the Accounting for Income Taxes</i>, which is intended to simplify the accounting standard and improve the usefulness of information provided in the financial statements. The Company intends to implement this new accounting guidance effective January 1, 2021, however early adoption is permitted. The Company is currently assessing the impact this new accounting guidance will have on its financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
<CBAI:ScheduleOfAssetsAndLiabilitiesSoldGainRecognizedTableTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="width: 88%; padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Other current assets</font></td> <td style="width: 1%; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; width: 9%; text-align: right"><font style="font-size: 8pt">45,391</font></td> <td style="width: 1%; padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total current assets</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">45,391</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Customer contracts and relationships, net of amortization</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">953,490</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Property, plant & equipment, less accumulated depreciation</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">23,685</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total assets</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,022,566</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Deferred revenue</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,496,104</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total liabilities</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,496,104</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">The gain on sale of assets was reported during the period was determined as follows:</font></td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Total assets sold</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">1,022,566</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Total liability sold</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,496,104</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Net liability sold</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">473,538</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Cash received</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">12,500,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.25in; text-align: justify"><font style="font-size: 8pt">Cash in escrow</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">3,000,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Total consideration</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">15,500,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Net gain from sales of assets</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">15,973,537</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</CBAI:ScheduleOfAssetsAndLiabilitiesSoldGainRecognizedTableTextBlock>
<CBAI:ResultsOfOperationsRelatedToAssetsHeldForSaleTableTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2019</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%; text-align: justify"><font style="font-size: 8pt">Revenue</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,108,382</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Cost of services</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(473,312</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Gross profit</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">635,070</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(99,231</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income from Discontinued Operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">535,839</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">FamilyCord reimbursement</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">435,923</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Gain on sale of assets</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">15,973,537</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income from discontinued operations before taxes</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,945,299</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income taxes</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(714,624</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Net income from discontinued operations</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">16,230,675</font></td> <td> </td></tr> </table>
</CBAI:ResultsOfOperationsRelatedToAssetsHeldForSaleTableTextBlock>
<CBAI:NetCashProvidedByOperatingActivitiesForAssetsHeldForSaleTableTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"><font style="font-size: 8pt"><b>Year Ended</b></font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2019</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31,</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Cash provided by discontinued operations</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">3,289,116</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Cash provided by investing activities of discontinued operations</font></td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">12,500,000</font></td> <td> </td></tr> </table>
</CBAI:NetCashProvidedByOperatingActivitiesForAssetsHeldForSaleTableTextBlock>
<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Useful Life</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(Years)</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2019</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr> <td style="vertical-align: bottom; width: 64%"><font style="font-size: 8pt">Furniture and fixtures</font></td> <td style="vertical-align: bottom; width: 1%; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 0%"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 0%"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font-size: 8pt">17,597</font></td> <td style="vertical-align: bottom; width: 1%"> </td> <td> </td> <td> </td> <td style="width: 1%"> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Computer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">124,466</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Laboratory Equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">5,837</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Freezer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">7-15</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">34,699</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Leasehold Improvements</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">5</font> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">102,862</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">285,461</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Less: accumulated depreciation and amortization</font></td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">(285,461</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt"><b>Assets held for sale:</b></font></td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Furniture and fixtures</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Computer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Laboratory Equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">1-5</font> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">  Freezer equipment</font></td> <td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">7-15</font> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"><font style="font-size: 8pt">Less: accumulated depreciation and amortization</font></td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt double; vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom; padding-bottom: 3pt"> </td> <td> </td> <td> </td> <td> </td></tr> <tr> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"><font style="font-size: 8pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="vertical-align: bottom"> </td> <td> </td> <td> </td> <td> </td></tr> </table>
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<us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Stock</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Options</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Weighted Average Exercise Price</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Avg. Contractual</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Remaining Life</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 64%"><font style="font-size: 8pt">Outstanding, December 31, 2018</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">4,307,994</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">0.69</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1.06</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Granted</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Exercised</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">--</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Forfeited/Expired</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">3,643,934</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">--</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Outstanding December 31, 2019</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">664,060</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.53</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.40</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Exercisable December 31, 2019</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">664,060</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.53</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">0.40</font></td> <td> </td></tr> </table>
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<us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Range of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercise Prices</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Number of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Options</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Average</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Remaining</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Contractual Life</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(years)</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Average</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercise</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Price</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Number of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Options</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercisable</b></p></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Weighted Average</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Exercise</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Price</b></p></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt solid; width: 22%; text-align: right"><font style="font-size: 8pt">.53</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">0.40</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid; width: 1%"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt solid; width: 12%; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">0.40</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">664,060</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">0.53</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>2019</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%; text-align: justify"><font style="font-size: 8pt">Net operating loss carryforwards</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">144,551</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">65,559</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Other deferred tax assets</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">25,491</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">38,648</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Gain Liability</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(600,516</font></td> <td><font style="font-size: 8pt">)</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">(546,908</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Valuation allowance</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(56,193</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">(60,876</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Net deferred tax assets (liabilities)</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">(486,667</font></td> <td style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">(503,577</font></td> <td style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td></tr> </table>
</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
<CBAI:IncomeFromDiscontinuedOperations contextRef="From2019-01-01to2019-12-31" unitRef="USD" decimals="0"> 0 </CBAI:IncomeFromDiscontinuedOperations>
<CBAI:IncomeFromDiscontinuedOperations contextRef="From2018-01-01to2018-12-31" unitRef="USD" decimals="0"> 16230675 </CBAI:IncomeFromDiscontinuedOperations>
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<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2019-01-01to2019-12-31_us-gaap_FurnitureAndFixturesMember_srt_MaximumMember"> P5Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2019-01-01to2019-12-31_us-gaap_EquipmentMember_srt_MinimumMember"> P1Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2019-01-01to2019-12-31_us-gaap_EquipmentMember_srt_MaximumMember"> P5Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2019-01-01to2019-12-31_custom_FreezerEquipmentMember_srt_MinimumMember"> P7Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2019-01-01to2019-12-31_custom_FreezerEquipmentMember_srt_MaximumMember"> P15Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2019-01-01to2019-12-31_us-gaap_ComputerEquipmentMember"> P5Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2019-01-01to2019-12-31_us-gaap_LeaseholdsAndLeaseholdImprovementsMember"> P5Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_us-gaap_FurnitureAndFixturesMember_srt_MinimumMember"> P1Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_us-gaap_FurnitureAndFixturesMember_srt_MaximumMember"> P5Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_us-gaap_EquipmentMember_srt_MinimumMember"> P1Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_us-gaap_EquipmentMember_srt_MaximumMember"> P5Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_custom_FreezerEquipmentMember_srt_MinimumMember"> P7Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_custom_FreezerEquipmentMember_srt_MaximumMember"> P15Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_us-gaap_ComputerEquipmentMember"> P5Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:AssetsHeldForSaleUsefulLives contextRef="From2019-01-01to2019-12-31_us-gaap_LeaseholdsAndLeaseholdImprovementsMember"> P5Y </CBAI:AssetsHeldForSaleUsefulLives>
<CBAI:UtilitiesOperatingExpenseDepreciationAndAmortizationDiscontinuedOperations contextRef="From2019-01-01to2019-12-31" unitRef="USD" decimals="0"> 0 </CBAI:UtilitiesOperatingExpenseDepreciationAndAmortizationDiscontinuedOperations>
<CBAI:UtilitiesOperatingExpenseDepreciationAndAmortizationDiscontinuedOperations contextRef="From2018-01-01to2018-12-31" unitRef="USD" decimals="0"> 5862 </CBAI:UtilitiesOperatingExpenseDepreciationAndAmortizationDiscontinuedOperations>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="AsOf2019-12-31" unitRef="Shares" decimals="INF"> 664060 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="AsOf2018-12-31" unitRef="Shares" decimals="INF"> 4307994 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="AsOf2019-12-31_custom_RangeOneMember" unitRef="Shares" decimals="INF"> 664060 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="From2019-01-01to2019-12-31" unitRef="Shares" decimals="INF"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="From2019-01-01to2019-12-31" unitRef="Shares" decimals="INF"> 0 </us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod contextRef="From2019-01-01to2019-12-31" unitRef="Shares" decimals="INF"> 3643934 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="AsOf2019-12-31" unitRef="Shares" decimals="INF"> 664060 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="AsOf2019-12-31_custom_RangeOneMember" unitRef="Shares" decimals="INF"> 664060 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="AsOf2019-12-31" unitRef="USDPShares" decimals="INF"> .53 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="AsOf2018-12-31" unitRef="USDPShares" decimals="INF"> .69 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="AsOf2019-12-31_custom_RangeOneMember" unitRef="USDPShares" decimals="INF"> 0.53 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="From2019-01-01to2019-12-31" unitRef="USDPShares" decimals="INF"> .00 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="From2019-01-01to2019-12-31" unitRef="USDPShares" decimals="INF"> .00 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice contextRef="From2019-01-01to2019-12-31" unitRef="USDPShares" decimals="INF"> .00 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="AsOf2019-12-31" unitRef="USDPShares" decimals="INF"> .53 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="AsOf2019-12-31_custom_RangeOneMember" unitRef="USDPShares" decimals="INF"> 0.53 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<CBAI:BeginningBalanceWeightedAvg.ContractualRemainingLifeInYears contextRef="From2019-01-01to2019-12-31"> P1Y22D </CBAI:BeginningBalanceWeightedAvg.ContractualRemainingLifeInYears>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="From2019-01-01to2019-12-31"> P4M24D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 contextRef="From2019-01-01to2019-12-31"> P4M24D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="From2019-01-01to2019-12-31"> P4M24D </us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="From2019-01-01to2019-12-31_custom_RangeOneMember"> P4M24D </us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
<CBAI:CapitalLossBenefit contextRef="From2019-01-01to2019-12-31" unitRef="Percent" decimals="INF"> 0.4647 </CBAI:CapitalLossBenefit>
<CBAI:CapitalLossBenefit contextRef="From2018-01-01to2018-12-31" unitRef="Percent" decimals="INF"> .0000 </CBAI:CapitalLossBenefit>
<dei:EntityPublicFloat contextRef="AsOf2019-06-30" unitRef="USD" decimals="0"> 9540000 </dei:EntityPublicFloat>
<dei:EntityCommonStockSharesOutstanding contextRef="AsOf2020-03-25" unitRef="Shares" decimals="INF"> 1272066146 </dei:EntityCommonStockSharesOutstanding>
<CBAI:ScheduleOfComponentsOfIncomeLossTableTextBlock contextRef="From2019-01-01to2019-12-31">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Years Ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>2019</b></font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 75%; text-align: justify"><font style="font-size: 8pt">Loss from continuing operations</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(402,976</font></td> <td style="width: 1%"><font style="font-size: 8pt">)</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(3,771,861</font></td> <td style="width: 2%"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income from discontinued operations</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right">- </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">19,113,490</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">Income before taxes</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">(402,976</font></td> <td style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">15,341,629</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</CBAI:ScheduleOfComponentsOfIncomeLossTableTextBlock>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Years Ended December 31,</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; width: 75%; padding-left: 9pt"><font style="font: 8pt Times New Roman, Times, Serif">U.S. Federal Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,577,221</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 2%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; padding-left: 9pt"><font style="font: 8pt Times New Roman, Times, Serif">State and Local Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">123,393</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; padding-left: 9pt"><font style="font: 8pt Times New Roman, Times, Serif">     Current Income Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,700,614</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Deferred U.S. Federal Tax </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(86,176</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">503,577</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total Income Tax</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(86,176</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,204,191</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p>
</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
<us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="From2019-01-01to2019-12-31">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Years Ended December 31,</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; width: 75%; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Federal income tax benefit/expense at statutory rate (34%)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">21.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">21.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 2%">%<font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">State income tax, net of federal benefit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">23.12</font></td> <td style="font: 8pt Times New Roman, Times, Serif"></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.63</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Capital loss benefit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46.47</font></td> <td style="font: 8pt Times New Roman, Times, Serif"></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1.14</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(55.84</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Reduction in NOLs</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">48.54</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2.51)</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.00</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Effective income tax rate</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">89.22</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"> </font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">14.33</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 8pt Times New Roman, Times, Serif">% </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p>
</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
<us-gaap:CashUninsuredAmount contextRef="AsOf2019-12-31" unitRef="USD" decimals="0"> 11282312 </us-gaap:CashUninsuredAmount>
<us-gaap:DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax contextRef="From2019-01-01to2019-12-31" unitRef="USD" decimals="0"> 0 </us-gaap:DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax>
<us-gaap:DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax contextRef="From2018-01-01to2018-12-31" unitRef="USD" decimals="0"> 19113490 </us-gaap:DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax>
<CBAI:RangeOfExercisePrices contextRef="From2019-01-01to2019-12-31" unitRef="USDPShares" decimals="INF"> .53 </CBAI:RangeOfExercisePrices>
<CBAI:RangeOfExercisePrices contextRef="From2019-01-01to2019-12-31_custom_RangeOneMember" unitRef="USDPShares" decimals="INF"> .53 </CBAI:RangeOfExercisePrices>
</xbrli:xbrl>

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