| Schedule of discontinued operations |
The following table presents a reconciliation of the major financial lines constituting the results of operations for discontinued operations to the loss from discontinued operations presented separately in the consolidated statements of operations (in thousands):
|
|
|
|
|
|
|
|
|
September 30, |
|
September 30, |
|
|
2022 |
|
2021 |
Revenues |
|
$ |
56 |
|
$ |
127 |
Cost of goods sold |
|
|
5 |
|
|
40 |
Gross profit |
|
|
51 |
|
|
87 |
Operating expenses: |
|
|
|
|
|
|
Research and development |
|
|
3,062 |
|
|
1,378 |
General and administrative |
|
|
7,355 |
|
|
2,458 |
Total operating expenses |
|
|
10,417 |
|
|
3,836 |
|
|
|
|
|
|
|
Other income (expenses): |
|
|
|
|
|
|
Interest expense - term note payable |
|
|
(226) |
|
|
— |
Interest expense - related party |
|
|
— |
|
|
(608) |
Forgiveness of note payable and accrued interest - SBA loan |
|
|
— |
|
|
607 |
Other |
|
|
(1) |
|
|
(1) |
Total other expenses |
|
|
(227) |
|
|
(2) |
|
|
|
|
|
|
|
Loss from discontinued operation |
|
$ |
(10,593) |
|
$ |
(3,751) |
The following table presents net carrying values related to the major classes of assets that were classified as held for sale at September 30, 2022 and June 30, 2022 (in thousands):
|
|
|
|
|
|
|
|
|
September 30, |
|
June 30 |
|
|
2022 |
|
2022 |
Current assets: |
|
|
|
|
|
|
Inventory |
|
$ |
937 |
|
$ |
3,900 |
Operating lease right-of-use assets |
|
|
1,949 |
|
|
— |
Property and equipment, net |
|
|
35,892 |
|
|
— |
Total current assets |
|
$ |
38,778 |
|
$ |
3,900 |
|
|
|
|
|
|
|
Other assets: |
|
|
|
|
|
|
Property and equipment, net |
|
$ |
— |
|
$ |
35,289 |
Operating lease right-of-use assets |
|
|
— |
|
|
1,951 |
Total other assets |
|
$ |
— |
|
$ |
37,240 |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Operating lease obligation |
|
$ |
1,949 |
|
$ |
10 |
|
|
|
|
|
|
|
Long-term liabilities: |
|
|
|
|
|
|
Operating lease obligation |
|
$ |
— |
|
$ |
1,941 |
The following table presents the supplemental disclosures related to discontinued operations for the statements of cash flows (in thousands):
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Three Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2022 |
|
2021 |
Depreciation expense |
|
$ |
271 |
|
$ |
306 |
Amortization of finance lease ROU assets |
|
|
13 |
|
|
416 |
Purchase of fixed assets |
|
|
875 |
|
|
1,082 |
Investing noncash transactions: |
|
|
|
|
|
|
Fixed assets included in accounts payable in prior period, paid in current period |
|
|
1,542 |
|
|
383 |
Unpaid fixed assets included in accounts payable |
|
|
229 |
|
|
750 |
|